The European Union has begun work on its 17th sanctions package against Russia. However, the process is still in its very early stages, EUobserver reports.
According to one diplomat, the EU is currently awaiting proposals from the European Commission.
Another source confirmed that the EU's foreign policy service and the European Commission are working on the sanctions issue, and the proposals are likely to be presented in early summer.
At the same time, one more diplomat expressed caution regarding the timeline, calling it "too speculative."
"We need to see how the (peace - ed.) negotiations between the United States, Russia, and Ukraine unfold," he added.
Since the beginning of Russia's full-scale invasion of Ukraine, Western countries, including the EU, the US, the UK, Canada, and others, have imposed numerous sanctions on Russia. These sanctions included the freezing of assets belonging to Russian oligarchs and politicians, restrictions on access to international financial markets, bans on the export of technologies and high-tech goods, and restrictions on the import of energy resources from Russia.
In addition, sanctions were imposed on Russian banks, complicating their access to the SWIFT system.
On February 24, the EU Council approved the 16th sanctions package against Russia, which targets, among other things, the enemy's shadow fleet and banks circumventing sanctions.
