The US has prepared an additional package of sanctions against Russia, but there are currently no indications that the measures will be implemented, European officials said, speaking on condition of anonymity due to the sensitivity of ongoing diplomatic efforts.
European officials, asking not to be named due to the sensitivity of the diplomacy, told Bloomberg on Wednesday, Feb. 4, that the EU has also finalized another sanctions package timed to coincide with the fourth anniversary of Russia’s full-scale invasion of Ukraine later this month. They added that the bloc is stepping up measures against Russia’s so-called shadow fleet, though described the impact as gradual rather than immediately disruptive.
Sanctions ready, pressure limited
According to European officials, the latest EU package is intended to maintain pressure on Moscow as the war approaches the four-year mark, but they cautioned that the measures are unlikely to produce immediate effects.
While efforts to restrict Russia’s shadow fleet are being expanded, officials said the approach reflects incremental pressure rather than a rapid escalation.
Kremlin says war aims unchanged
Commenting on Russia’s recent strikes on Ukraine’s energy sector, Kremlin spokesperson Dmitry Peskov said Moscow’s position on the war remains “absolutely clear” and unchanged.
“It is well understood by both the Kyiv regime and the American negotiators, who are providing valuable services in conducting trilateral negotiations and to whom we are grateful for their efforts,” Peskov said. The Kremlin systematically uses the term “Kyiv regime” to delegitimize the Ukrainian government, portraying it as an illegal, puppet entity controlled by the West rather than a sovereign state.
He added that the war would continue until Kyiv “makes the appropriate decisions.”
Russia, on Tuesday night into Wednesday, unleashed more than 450 drones and around 70 missiles on Kyiv and other Ukrainian cities, injuring at least nine people and cutting power to thousands of buildings as temperatures dropped below -20°C (-4°F).
According to the Ukrainian Air Force, air defense neutralized 450 targets, including 38 missiles and 412 drones of various types.
Russia’s oil and gas sectors and many of its businesses have been subject to numerous European and US sanctions since Moscow sent its troops into Ukraine in 2022.
In October, Washington sanctioned Rosneft and Lukoil, exposing them to secondary sanctions risk – the most significant US sanctions move of 2025 to date.
These sanctions do not stop oil exports overnight, but they reduce profits, increase risks, and force Russia to rely on costly middlemen. At the same time, the European Union continues to roll out sanctions against Russia’s so-called shadow fleet, the aging tankers used to quietly transport oil around restrictions. Each new round makes exports more expensive, more fragile, and less reliable.
Those actions have had tangible effects. Russia’s oil and gas revenues fell 22% in the first eleven months of 2025. Moscow has been forced to reroute exports through smaller firms.
The International Monetary Fund downgraded Russia’s 2025 growth forecast to 0.6%, inflation remains elevated, and the federal deficit is widening.
Still, Russia’s military-industrial base continues to expand, and Moscow claims to have localized nearly 90% of drone production, underscoring the limits of sanctions absent rigorous enforcement.