Europe Pushes for New Sanctions Against Russia as Ceasefire Demands Escalate

French President Emmanuel Macron stated on Tuesday that he supports implementing new sanctions on Russia in the coming days should Moscow fail to agree to a ceasefire. He specified that financial services and oil and gas could be among the targets for these potential sanctions.

Macron's declaration mirrors the stance of German Chancellor Friedrich Merz, who emphasized that European allies are prepared to significantly tighten sanctions against Russia. Merz mentioned that energy and financial sectors may be affected if President Vladimir Putin does not comply with ceasefire demands.

European leaders, including those from Britain, France, Germany, and Poland, had called for a 30-day ceasefire but saw no progress as Putin instead proposed direct talks with Ukraine. Despite Trump supporting the dialogue initiative, EU diplomats face difficulties in securing unanimous support from its 27 member states for new sanctions.

(With inputs from agencies.)