According to the latest reports, the European Union is developing the fifth package of sanctions against Russia due to the situation around Ukraine.

The European Union is developing the fifth package of sanctions against Russia, Reuters reported on Monday referring to diplomatic sources in the EU.

“We are working on the fifth round of sanctions and many new names are being proposed,” a source said.

In addition, diplomats told Reuters that Baltic countries including Lithuania are pushing for an embargo on Russia as the next logical step, while Germany is warning against acting too quickly because of already high energy prices in Europe.

EU foreign and defense ministers will discuss the situation in Ukraine on Monday where EU Foreign Policy Chief Josep Borrel will present his analysis of possible conflict scenarios.

Since the beginning of the Russian military operation in Ukraine, the US, EU, and the UK, as well as several other states, announced that they were imposing sanctions against Russian individuals and legal entities.

Source: Agencies (edited by Al-Manar English Website)