EU weighs new sanctions on Russia to hit several banks

The European Union is exploring new sanctions on about half a dozen Russian banks and energy companies, Bloomberg reported, citing sources.

The package could also see the EU target Russia’s payment and credit card systems, crypto exchanges as well as further restrictions on the country’s oil trade.

The EU’s latest package of restrictions would see the bloc add to its sanctions on Russia’s shadow vessels, on oil traders in third countries and could introduce a ban on re-insuring listed tankers, the people said.

The EU is also considering tighter sanctions on major Russian oil companies. It’s also weighing export bans on more goods and chemicals used by Moscow’s military industry and trade restrictions on foreign firms, including in China, that supply those items.

The EU is hoping to coordinate some of its latest measures with the U.S., and a delegation of EU officials will be traveling to Washington to meet U.S. counterparts and discuss the potential for joint action.