The European Union has proposed new sanctions against Russia in response to the ongoing conflict in Ukraine, with measures including restrictions on Russian diplomats and other harsh penalties, according to Politico. Brussels has received 11 packages of sanctions targeting Moscow, ranging from energy bans to banking restrictions. The latest package aims to focus on transportation as a means of combatting the conflict, as other measures have had limited impact or the potential to escalate tensions with the EU. The offer, still pending approval from EU member states, aims to counter Russian aggression, an issue that Finland has already faced with Russian diplomats. Belgium, meanwhile, is eager to safeguard the European headquarters of NATO.

Currently, Belgium is working with the European Council and G7 to establish a mechanism for countering aggression, which will impact the proposed sanctions. The proposal includes stricter financial transaction requirements for companies involved in transportation, as well as their insurers. These entities must pay no less than $60 per barrel for fuel, even if Russian fuel is selling at a higher price of nearly $80. The mechanism for pricing limits is based on an agreement allowing Russian navigable fuel operators to prove that the fuel has been purchased below or above the limits.

Affected companies and their insurers must provide confirmation that they have paid no more than $60 per barrel for their cargo. However, it remains unclear whether this will significantly reduce the number of controversial transactions. Additionally, the proposal includes a ban on the import of Russian liquefied petroleum gas (LPG) to Poland and the Baltic countries, according to EU diplomats.

EU sanctions experts are set to discuss the package for the first time on Friday, with the hope of shedding light on the issue by the European Summit in December or at least by the end of the year.

From Armenia, this is NEWS.am reporting on the latest developments.