The European Union is actively considering a new set of sanctions against Russia, focusing on Russian banks and oil exports, with the goal of pressuring President Vladimir Putin to end the Ukraine conflict.

EU officials are coordinating these measures with the United States, with a delegation traveling to Washington to discuss joint actions amid ongoing negotiations.

US Secretary of the Treasury Scott Bessent has stated that the US is prepared to escalate pressure on Russia, contingent on European allies following suit, aiming to collapse Russia's economy through intensified sanctions and tariffs on Russian oil.

Recently, Russia launched its largest attack since the start of the Ukraine conflict, deploying 823 drones and missiles that damaged infrastructure and caused casualties, with Ukraine retaliating by striking Russian military targets.

Russia has recruited around 280,000 soldiers in 2025, supported by financial incentives and propaganda, with an estimated 950,000 Russians killed or injured in the war, including about 250,000 deaths.

Despite a decrease since 2022, Europe remains heavily dependent on Russian natural gas, accounting for 14% of imports in 2024, with some countries like Hungary and Slovakia resisting full independence due to reliance on cheaper pipeline gas.

Ukraine continues to target Russian military infrastructure, including oil pipelines and refineries, to weaken Russia’s logistical capabilities, with recent strikes causing fires and explosions.

The sanctions are expected to increase market volatility and regional price fluctuations, especially as Russia adapts by developing alternative payment systems, expanding shadow fleets, and creating new trading entities.

Previous sanctions have impacted Russian exports by creating operational difficulties, reducing oil revenue, and increasing shipping costs, but have not caused global supply shortages.

Russia has responded to sanctions by sourcing goods from China and other countries, expanding energy markets to India, and maintaining energy exports despite Western restrictions.

The EU’s proposed sanctions are still under discussion, with member states reviewing the measures before they are formally announced, including potential secondary sanctions against countries like China.

Additional potential sanctions include restrictions on visas, port controls on sanctions-evading ships, and controls on military-related AI services to prevent military applications.

Russia has justified its continued war efforts by citing a perceived lack of reciprocity from Western countries and has emphasized its intent to persist despite sanctions.