**EU Considers Tougher Sanctions Against Russia**
The European Union is considering a proposal to cut more than 20 Russian banks from SWIFT, the global financial messaging network. This move is part of an upcoming package of sanctions against Moscow.
**New Measures Under Discussion**
The new measures under discussion include:
* Lowering the price cap on Russian crude exports from $60 to around $45 per barrel
* Banning the Nord Stream gas pipelines
* Imposing approximately 2.5 billion euros in new trade restrictions
These proposals are currently being reviewed by the European Commission, with input from member states. EU sanctions require unanimous approval from all 27 nations.
**Goal: Limit Russia’s Revenue Streams**
The move aims to further cut Russia’s revenue streams and limit its access to Western technologies critical for weapons production.
**G7 Oil Price Cap and US Involvement**
A key feature of the G7’s coordinated sanctions effort is the oil price cap. The proposed reduction in this cap would need support from the United States, which has so far held off on additional sanctions under President Donald Trump.
**Germany Backs Nord Stream Ban**
Germany has already signaled its backing for the ban on the Nord Stream pipelines, with German government spokesperson Stefan Cornelius confirming that the EU is coordinating its actions with the U.S.
**Broadening Restrictions on Russia’s Shadow Fleet**
The EU is also preparing to broaden its restrictions on Russia’s so-called shadow fleet of oil tankers, expand bans on banks aiding the Kremlin’s war efforts, and target the Russian Direct Investment Fund.
**Shielding European Companies from Arbitration Claims**
The European Commission is reportedly pushing to include provisions shielding European companies from arbitration claims under bilateral investment treaties affected by the sanctions.
**Renewed Efforts for Ceasefire**
These proposed measures come amid renewed international efforts to broker a ceasefire between Russia and Ukraine.
