EU Prepares New Sanctions as Pressure Mounts on Russia over Ukraine War

The European Union is poised to impose stricter sanctions on Russia amid ongoing tensions over the Ukraine conflict. German Chancellor Friedrich Merz announced on Tuesday that a new package of sanctions is ready should there be no significant progress this week.

Chancellor Merz, speaking at a news conference alongside the Greek Prime Minister, stressed the urgency of the situation, stating that the EU is awaiting Russian President Vladimir Putin's response. The EU stands united in its resolve to tighten sanctions if necessary.

The potential sanctions will focus on pivotal sectors such as energy and the financial market, aiming to exert further pressure on Russia to seek a resolution to the conflict in Ukraine.

(With inputs from agencies.)