EU plans new Russia sanctions by war anniversary

Ukrainian President Volodymyr Zelensky and President of the European Commission Ursula von der Leyen shake hands after a joint press conference after talks in Kyiv on February 2, 2023. (AFP)

• An existing oil price cap alone is costing Moscow around 160 million euros every day

KYIV: 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 said on a visit to Kyiv Thursday.
“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 said during a press conference with Ukraine’s President Volodymyr Zelensky.
Existing sanctions are “eroding” Russia’s economy, she said, and “throwing it back by a generation,” estimating that an existing oil price cap alone is costing Moscow around 160 million euros every day.