An EU official revealed that the European Commission is examining a proposal for a faster ban on Russian natural gas liquefied in its 19th set of sanctions against Moscow due to its invasion of Ukraine.

This new initiative follows an earlier call made by U.S. president Donald Trump and European Commission chief Ursula von der Leyen. Trump wants Europe to act more aggressively to target Russia's oil revenues in order to weaken its war economy.

Trump has demanded that European nations stop all purchases of Russian oil and that the EU imposes tariffs on China, India and other countries who are major buyers of Russian fossil fuels.

The EU has already begun to

negotiating

Proposals to phase out all imports of Russian gas and oil by January 1, 2028. Short-term contracts will be banned from the start of next year.

On Friday, the package will be presented to all member states.

(source: Reuters)