This is the 20th package of sanctions that the European Commission has issued against Russia, the most important of which is an outright ban on the servicing of the transportation of Russian oil. The proposal was announced by Commission President Ursula von der Leyen, who added that the new restrictions are supposed to create an additional burden on the economy of Moscow.

von der Leyen said, “the Commission was proposing another round of sanctions, but it was time for the governments of the EU to act urgently. These new sanctions must be endorsed as soon as possible by the Member States,” she added and urged them to be united and act swiftly.

The bloc aims to adopt and implement the new sanctions package by February 24, as stated earlier by the Commission. The suggested actions are a part of the bigger picture of the European Union tightening its gas and oil income in order to limit the capacity of Russia to fund its further military actions. EU member states still need to deliberate on the package further in the next few days before thumbs up is given.