Russia’s economy is under growing strain as its invasion of Ukraine drags on and Western sanctions are undermining President Vladimir Putin’s ability to sustain his war, a leading European economist said after briefing finance ministers on Tuesday.

The European Union must focus on a new sanctions package to suffocate Russia's economy and force President Vladimir Putin to end the war in Ukraine, France's foreign minister said on Wednesday. Speaking after the EU adopted a 17th sanctions package,

European Union countries are reportedly in preliminary agreement on a new package of sanctions against Russia. "However, this is a very weak package," diplomats unofficially admit, stating that EU countries have reached the limit of their ability to adopt more extensive economic sanctions.