The European Union is considering new sanctions on Russia, including excluding banks from "SWIFT."

The European Union countries are considering imposing a new package of sanctions to increase pressure on Russia to end the war in Ukraine. This includes excluding more than 20 Russian banks from the "SWIFT" international payment system, reducing the ceiling price of Russian oil, and banning the "Nord Stream" gas pipelines.

According to "Bloomberg," informed sources reported on Saturday, May 24, that the European Commission is still discussing these measures in consultation with member states, and the timing of their implementation has not been determined yet. Sources indicated that the discussions are still confidential, so they requested not to disclose their identities.

The package is also expected to include an additional ban on transactions of targeted banks and new trade restrictions worth 2.5 billion euros (2.84 billion dollars) as part of the Union's efforts to reduce Russia's revenues from international trade.