The European Union adopted fresh sanctions against Russian oil interests on Monday, targeting traders Murtaza Lakhani and Etibar Eyyub for helping Moscow to circumvent Western sanctions on crude exports that help to fund Russia's war in Ukraine.

EU officials argue the money should help Kyiv’s military and civilian needs, warning that Russia could otherwise threaten NATO. Moscow has repeatedly rejected that claim. Banker

The European Union has imposed sanctions on five businessmen linked to Russian oil companies Lukoil and Rosneft.

BRUSSELS: The European Union is making progress on how to finance Ukraine with frozen Russian assets, EU diplomats said Tuesday (Dec 16), but some key decisions including on guarantees for Belgium, where most of the assets are held, will only be made at an EU summit on Thursday.

Russia’s Central Bank says it has filed a lawsuit against Belgian financial institution Euroclear. That's the Brussels-based clearing house that holds most of Moscow’s frozen assets in Europe.

Leaders of eight easternmost European Union nations are gathering in Helsinki on Tuesday to plot a roadmap for how to secure as much funding as possible for building up defenses against Russia.

The European Union has implemented new sanctions against individuals and entities involved in Russia's “shadow fleet” of oil tankers, part of its ongoing response to the Ukraine invasion.

China buys Russian oil and gas at steep discounts while supplying Moscow with machinery and electronics as Western sanctions tighten.

Ukrainian President Volodymyr Zelensky on Tuesday said he thinks the US would issue additional Russian sanctions and sell more military aid to Kyiv should Russia reject Washington’s carefully crafted deal to end the war.