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The new EU sanctions package against Russia will include import bans worth 570 million euros.
The EU has announced proposals for its 20th package of sanctions against Russia, covering energy, financial services and trade.
European Commission President Ursula von der Leyen announced that the package includes a complete ban on maritime services for Russian crude oil, as well as the addition of 43 more ships part of the Kremlin's so-called 'shadow fleet'.
A new ban on goods and services will tighten export restrictions coming from Russia, while new import bans on critical metals, chemicals and minerals will be worth more than 570 million euros.
Measures will also be taken against companies and platforms that enable cryptocurrency trading, and 20 other regional Russian banks will be listed on the sanctions list.
"Russia will only sit at the negotiating table with sincere intent if pressured to do so. This is the only language Russia understands. That is why we are taking a step forward today ," von der Leyen said.
The proposal must be approved by the EU's 27 member states before it officially comes into force. The bloc's 19th sanctions package, which targeted its shadow fleet and banned imports of liquefied natural gas, came into force in November.
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