The EU has begun preparations for a new sanctions package against Russia.

The European Commission is working on the 16th sanctions package against the Russian Federation.

European Commission President Ursula von der Leyen announced this at a meeting of the European Parliament.

In her speech, she spoke about the adoption of the 15th sanctions package against Russia last week. It includes measures against shadow fleets and circumvention of sanctions. The 16th package is also being prepared, von der Leyen reported.

The head of the European Commission emphasized that economic pressure on Russia is important, as a significant portion of the Russian budget is spent on military needs. Therefore, financially undermining the Kremlin is a priority.

She also provided examples to demonstrate the effectiveness of sanctions: the exchange rate of the ruble has reached its lowest level since the invasion, and in certain sectors of the Russian economy, inflation is reaching 70%, despite the efforts of the Central Bank of Russia to stabilize the situation.

Radio Free Europe editor for Europe Riccardo Yuzvyak stated that the sanctions package will be presented to EU member states in January 2025. 'Von der Leyen reported that the next sanctions package is already being prepared. According to my information, it is to be presented to member states in January,' he noted.