BRUSSELS—Representatives of the 27 European Union countries meet in Brussels on Wednesday to discuss a new batch of sanctions against Russia, which the head of the bloc’s executive said could cost 11 billion euros ($11.8 bln) in lost trade.
The bloc is expected to agree new sanctions to mark the one-year anniversary of Russia’s invasion of Ukraine on Feb. 24, but the specific proposals must yet win the unanimous backing of all EU member states.
“We are weakening Russia’s ability to maintain its war machine. We have adopted nine packages of sanctions, the Russian economy is shrinking,” European Commission President Ursula von der Leyen said. “We need to keep up the pressure,” she told the European Parliament ahead of the closed-door talks among the 27 national envoys in Brussels….