European Union foreign ministers have reached a political deal on a new sanctions package designed to hit Russia’s oil and gas income, according to Reuters. The measures are intended to increase pressure on Moscow by targeting the energy revenues that help fund its war effort.

The agreement marks another step in the bloc’s effort to tighten economic restrictions on Russia as the war in Ukraine continues. Officials said the package is expected to come into force within weeks, though final procedural steps still need to be completed before it takes effect.

Energy exports have remained one of Russia’s most important sources of state revenue despite earlier rounds of sanctions. By focusing on that sector, EU leaders are signaling a continued attempt to limit Moscow’s financial capacity while supporting Ukraine and its civilian population.

While the full details of the package were not immediately disclosed, the move reflects ongoing coordination among European governments over how to respond to Russia’s aggression with targeted economic measures rather than broader escalation.

Gas revenues

EU agrees on new sanctions targeting Russia’s oil and gas revenues