As NATO and EU member countries are already imposing sanctions on Russian oil and gas, the EU has further decided step of imposing sanctions on Russian Coal. The EU and many other western countries are trying to build additional pressure on Russia to urge the Russian forces to withdraw from Ukraine. European Commission head Ursula von der Leyen has announced that the EU members are planning to ban the import of Russian Coal and on Russian ships.
Despite the several sanctions imposed on Russian oil and gas, Moscow has maintained stability in the global market graph and witnessed a spiked export of oil and gas. To counterattack Russia on its economic front, EU and NATO countries collectively formulated severe sanctions to be imposed on Russia. UK foreign secretary Liz Truss is reckoning the NATO and G7 members for a "Tough new wave" of sanctions.
As the Russian hostilities are incessantly increasing in Ukraine, the EU has swiftly decided to add various other sanctions to the existing measures to stop Russia from its atrocities in Ukraine. The French European Affairs Minister Clément Beaune has claimed that the sanctions would be adopted by Wednesday, as Russia's growing military actions have left no choice but to impose severe sanctions.
This is the fifth set of sanctions imposed on Russia by EU member states. But amid such a situation, the stance of Germany remains ambiguous. Germany is highly dependent on Russian gas and oil, and altogether banning imports can create colossal unemployment and a massive recession. Thus, the only speculation that hovers is the success rate of another set of imposed sanctions.