The European Union is working on further sanctions on Russia but any additional measures will not affect the energy sector, the EU's Economic Commissioner Paolo Gentiloni said in Cernobbio on Saturday.
The 27-nation bloc will be faced with a growth slowdown caused by the war in Ukraine but not a recession, he added, saying the 4% growth forecast was too optimistic and the EU would not reach it.
"First of all, we want to limit the possibility of bypassing the sanctions that have already been applied," he explained.
According to Gentiloni, EU countries must pay the price of sanctions against Russia together. He expressed the opinion that the growth of the European economy will slow down, but there will be no recession. "I hope we will be able to maintain stable economic growth in 2022," he added.
This is the 5th package of EU sanctions against Moscow since the start of Russia's special operation in Ukraine.
