EU Targets Russian Financial Networks and Energy Sector with New Sanctions

The European Union is reportedly preparing to enact fresh sanctions on several Russian financial and energy institutions. According to Bloomberg News, the proposed measures could hit about half a dozen banks and energy companies in Russia.

The sanctions package might extend to Russia's payment and credit card systems, affecting crypto exchanges and tightening restrictions on oil trade, thereby escalating economic pressure on Moscow.

Reuters has not yet corroborated this report, indicating that the details are still unfolding as the story develops.

(With inputs from agencies.)