The European Commission will present a new sanctions package against Russia and proposals on Ukraine-related financial measures before the next European Council, European Commission President Ursula von der Leyen said in Dublin on Thursday, setting up the European Union's 22nd package of sanctions since Russia's full-scale invasion of Ukraine nearly five years ago.

Source: Reuters

"We are preparing a proposal on how to cover the financial needs of Ukraine in 2027. We will come with the sanctions package and the proposal for the financial needs before the next European Council," von der Leyen said ahead of a meeting with international leaders in the Irish capital. The next European Council is a special summit scheduled for November 26-27.

Source: Reuters

Von der Leyen was speaking to reporters at the start of the European Political Community (EPC) summit at the Convention Centre Dublin, which brings together around 50 leaders from across Europe to discuss security and other strategic challenges, Xinhua reported. The summit is followed by an informal meeting of EU leaders on Friday at the same venue.

Source: Xinhua via IANS

What the 22nd package is expected to contain

The Commission is still debating the final details of the package, Reuters reported. Among the measures, the package is expected to include new restrictions on banks, cryptocurrencies and crypto platforms, and measures to close circumvention loopholes through third countries, EU diplomats said. The package may also include a ban on Belarusian and Russian athletes competing in international meets in the EU, the diplomats said.

Source: Reuters

EU foreign policy chief Kaja Kallas told Reuters in an interview on the sidelines of a Group of Seven meeting this week that the athlete restrictions matter because, in her words, a leader like Russian President Vladimir Putin "doesn't care about the lives lost on the battlefield, but he really cares about these big sports events where he can show that the country is big and powerful and accepted the same way as everybody else." Kallas added that discussions were ongoing about potential visa restrictions on Russian ex-combatants.

Source: Reuters

Ukraine's 2027 money question

The funding proposal is meant to answer how Ukraine's financial needs in 2027 will be covered as the war continues. Reporting around the Dublin meetings has cited a 2027 shortfall of around 70 billion euros for Kyiv (yaani 7,000 crore euro), though the Commission has not published its own figure and the final proposal has not been presented yet. Von der Leyen also welcomed the recent peace talks in Abu Dhabi and stressed the importance of European representation in negotiations to safeguard the bloc's interests, Xinhua reported. "We will support Ukraine, be it in wartime or be it in peacetime," she said.

Source: Xinhua via IANS

The announcement lands while US-mediated diplomacy continues in parallel: trilateral talks involving Russia, the United States and Ukraine in Abu Dhabi ended on Wednesday with an agreement on a large-scale prisoner exchange, and US envoys have since carried the discussions to Moscow and Dublin. European governments have been pressing for a seat in the next round of talks, arguing that any settlement will shape Europe's own security. What happens next: the Commission presents both texts before the November 26-27 European Council, where EU leaders will decide on the sanctions package and the 2027 funding proposal.