The European Commission and EU member states have resumed discussions on the 12th package of sanctions against Russia, signaling a renewed effort to address the ongoing war in Ukraine. These consultations are set to take place over the weekend, with a focus on ironing out the details of the sanctions package. While initial plans aimed for an agreement to be reached in November, it appears more likely that the process will extend into December.

Ukraine's Foreign Minister, Dmytro Kuleba, has expressed his desire for this package to encompass measures aimed at countering the circumvention of existing sanctions, as well as the introduction of new sanctions targeting the Russian defense industry. Reports suggest that the draft may introduce restrictions on the trade of Russian diamonds, a move that aligns with the intentions of G7 countries. Furthermore, the EU is considering stronger sanctions against Russian liquefied natural gas and IT services, along with limitations on Russia's nuclear sector.

Additionally, the EU is exploring the possibility of utilizing funds derived from frozen assets of the Russian Central Bank to aid in the reconstruction efforts in Ukraine.