EU Expands Sanctions on Russia Amid Ongoing Ukraine Conflict

The European Union announced new sanctions targeting Russia’s energy and financial sectors on March 22, 2026, aiming to pressure Moscow amid the ongoing Ukraine conflict. The expanded measures include restrictions on Russian oil imports, cutting off key banks from SWIFT, and banning luxury goods exports. According to Reuters, these sanctions represent the EU’s toughest economic actions yet, designed to limit Russia’s ability to fund its military operations. The move comes as diplomatic efforts to end the war remain stalled. EU officials stated that these steps will intensify economic isolation but remain open to dialogue if Russia ceases hostilities. The sanctions affect over 70% of Russia’s oil exports to Europe, significantly impacting its economy.