The European Union is developing a fifth package of sanctions against Russia due to the situation around Ukraine, Reuters reported on Monday referring to diplomatic sources in the EU.
"We are working on a fifth round of sanctions and many new names are being proposed," a source said.
In addition, diplomats told Reuters that Baltic countries including Lithuania are pushing for an embargo on Russia as the next logical step, while Germany is warning against acting too quickly because of already high energy prices in Europe. EU foreign and defense ministers will discuss the situation in Ukraine on Monday where EU Foreign Policy Chief Josep Borrel will present his analysis of possible conflict scenarios.
On February 24, Russian President Vladimir Putin in response to the appeal of the leaders of the republics of Donbass, decided to conduct a special military operation. The Russian leader stressed that Moscow does not intend to occupy Ukrainian territories. After that, the US, EU, and UK, as well as several other states, announced that they were imposing sanctions against Russian individuals and legal entities.