EU plans new Russia sanctions ahead of Ukraine war anniversary

The European Union plans to slap Russia with fresh sanctions by the anniversary of Moscow’s invasion of Ukraine, European Commission chief Ursula von der Leyen says on a visit to Kyiv.

“We will introduce with our G7 partners an additional price cap on Russian petroleum products, and by the 24th of February — exactly one year since the invasion started — we aim to have the 10th package of sanctions in place,” von der Leyen says during a press conference with Ukraine’s President Volodymyr Zelensky.

Existing sanctions are “eroding” Russia’s economy, she says, and “throwing it back by a generation,” estimating that an existing oil price cap alone is costing Moscow around 160 million euros every day.