The European Union plans to slap Russia with fresh sanctions by the war anniversary.

Axar.az reports citing Arab News.

“We will introduce with our G7 partners an additional price cap on Russian petroleum products, and by the 24th of February - exactly one year since the war started - we aim to have the 10th package of sanctions in place,” von der Leyen said during a press conference with Ukraine’s President Volodymyr Zelensky.

Existing sanctions are “eroding” Russia’s economy, she said, and “throwing it back by a generation,” estimating that an existing oil price cap alone is costing Moscow around 160 million euros every day.