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Reuters
Reuters
Business
By Gabriela Baczynska

EU debates 11 billion euro worth of trade curbs in new Russia sanctions

United States Russia European Union Vladimir Putin Ursula von der Leyen Brussels Commission Europe European Commission Ukraine
FILE PHOTO: Russia's President Vladimir Putin and European Commission President Ursula von der Leyen meet on sideline of the Libya summit in Berlin, Germany January 19, 2020. Sputnik/Aleksey Nikolskyi/Kremlin via REUTERS/File Photo

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.

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