Overview

• The European Union's executive has proposed a new package of sanctions targeting the Kremlin and its associates, aiming to tighten previous measures approved since the February 2022 invasion of Ukraine and adding dozens of economic operators.
• The proposal initiates final talks between the 27 member states to reach the necessary unanimity on the issue, with hopes to have the 12th package operational by the end of the year.
• Preparatory talks have centered on imposing export restrictions on Russia's lucrative diamond industry.
• The latest package would target more than 120 individuals and entities, including actors from the Russian military, defense and IT sectors, as well as other important economic operators.
• Because the EU needs to get everyone on board, the outcome is not fully set yet. In the past, Hungary, which still has close relations with Moscow, has been able to delay and water down some sanctions packages.