The ambassadors of the 27 EU Member States have approved new sanctions against Russia, including a ban on gold imports. This was announced on Wednesday by the Czech Republic, rotating chair of the European Council of Ministers.
With the new sanctions, the EU is transposing the G7's decision to strengthen existing packages and close loopholes in EU legislation.
The previous six sanctions packages targeted Russia's economy, central bank and wider financial system, and punished individuals responsible for the violence in Ukraine, including President Vladimir Putin.
Controls will now be stepped up on so-called 'dual use' goods, which can be used for both civilian and military purposes. The freeze on the assets of Russian persons and entities will be better enforced. Furthermore, Russia's largest bank - Sberbank - will be dealt with more strictly and new individuals will be added to the sanctions list.
Diplomats say these include members of the Night Wolves, an outspoken pro-Kremlin biker gang, and actor Vladimir Mashkov, known for his roles in films such as "Behind Enemy Lines" and "Mission: Impossible - Ghost Protocol".
The sanctions still have to be formally approved by EU Member States. This will be done through a written procedure that expires at 10 a.m. on Thursday.
The sanctions will then be published in the official Journal of the EU.
