The European Union's executive has proposed a new package of sanctions targeting the Kremlin and its associates in response to the ongoing crisis in Ukraine. This latest move seeks to tighten previous measures approved since the February 2022 invasion, while also adding dozens of economic operators to the list. The proposal sets the stage for final talks between the 27 member states, with the goal of reaching unanimous agreement and implementing the 12th package of sanctions by the end of the year.

Although details were not provided in Wednesday's statement, preparatory talks have reportedly focused on imposing export restrictions on Russia's lucrative diamond industry. According to the EU Commission, the proposed listings would include actors from the Russian military, defense, and IT sectors, as well as other important economic operators. More than 120 individuals and entities are expected to be targeted in the latest package.

However, achieving full consensus among EU member states may not be guaranteed, given that Hungary has previously been able to delay and dilute some sanctions packages due to its close relations with Moscow. The outcome of the talks remains uncertain as the EU works to ensure everyone is on board. Notably, the announcement comes shortly after a visit by NATO Secretary General Jens Stoltenberg to EU Commission headquarters, highlighting the commitment to addressing the crisis in Ukraine and taking a unified stance against Russia's actions.