EU is considering new sanctions on Russian banks, diplomats say

European countries looking to tighten sanctions on Russia are considering targeting more banks, expanding the network to more family members of oligarchs and using cryptocurrencies to circumvent financial restrictions in the coming ones as part of a new package of measures aimed at shoring Western pressure on Russia’s economy is increasing, according to diplomats and officials familiar with the debate.

The effort comes as the US and European Union put together joint task forces to ensure previously announced sanctions against Russia over its invasion of Ukraine can be implemented effectively. Transatlantic efforts include pressuring third countries to allow Russian citizens and companies to relocate assets outside of Russia, beyond the reach of Western sanctions. EU is considering new sanctions on Russian banks, diplomats say

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