The European Union is pushing to broaden its sanctions to pile more pressure on Russia’s economy, which has already suffered an estimated $1.2 trillion to $1.5 trillion in damage. EU foreign policy chief Kaja Kallas said the bloc is considering new sanctions targeting 80 entities and individuals who support Russia’s war in Ukraine.
Speaking to reporters Monday in Cyprus after an informal meeting of EU defense ministers, Kallas said the 80 new proposals target Russia’s “military-industrial complex, human rights violators, and propagandists.” She stressed: “Putin is losing money, losing people, and losing momentum. That is precisely why Russia is escalating its attacks on Ukrainian civilians. Brick by brick, we are destroying the foundation of Russia’s war economy.”
The defense ministers’ meeting also discussed the future of a controversial €6.6 billion ($7.6 billion) fund intended to reimburse countries that have supplied weapons to Ukraine. Hungary, after Prime Minister Peter Magyar replaced Viktor Orban in April, told other EU members it will drop its long-standing opposition to the fund. Kallas proposed that the fund be used not only to reimburse delivered weapons but also to finance joint weapons procurement and EU military support.
The EU is seeking to ramp up pressure on Moscow as the US softens its stance. In March, the bloc renewed sanctions targeting around 2,600 individuals and entities, including travel bans and asset freezes. Meanwhile, the US has faced criticism for renewing sanctions waivers for countries buying Russian oil loaded onto tankers, in an effort to manage energy market turmoil linked to the US-Israel war with Iran.
Kallas’ comments come as Russia continues deadly attacks on Ukraine. Early Monday, a Russian strike killed five people and wounded 14 others in the southeastern Zaporizhzhia region, according to Governor Ivan Fedorov. The attacks also damaged infrastructure, homes, and vehicles.
Ukrainian President Volodymyr Zelenskyy has returned home after meeting European leaders in London, days after proposing a face-to-face meeting with Russian President Vladimir Putin. However, Kallas said the time is not ripe for opening negotiations with Russia. She said: “We feel it’s not the moment. We really need strategic patience to push Russia into a position where it is truly ready to negotiate.”
