AsianFin -- The European Union is preparing another round of sanctions aimed at tightening financial and energy restrictions on Russia, as the bloc continues efforts to pressure President Vladimir Putin to end the war in Ukraine, according to people familiar with the matter.

The potential measures, which would mark the EU’s 19th sanctions package since Russia’s full-scale invasion in 2022, are expected to target about half a dozen Russian banks and energy companies, the people said.

In addition to financial institutions and energy firms, Brussels is also considering action against Russia’s domestic payment and credit card systems, crypto exchanges, and introducing further curbs on the country’s oil trade, the people noted.

While discussions are ongoing, EU diplomats stressed that the scope and final details of the package could change as member states debate the economic impact and enforcement mechanisms. Any new measures would need the unanimous approval of the EU’s 27 member countries, where views often diverge on how far sanctions should go given Europe’s own energy needs and economic pressures.