Yesterday, US President Donald Trump said he was ready to move to a second phase of restrictions, the closest he has come to suggesting he is on the verge of boosting sanctions against Moscow over its war in Ukraine.

EU Council president Antonio Costa said new sanctions were being closely coordinated with the US, and EU officials are hopeful of better cooperation after several disappointments early in the year as Trump pursued his own peace talks with Russian President Vladimir Putin instead.

The US has not joined other Group of Seven nations (G7) – the EU, Britain and Canada – in lowering the price cap on Russian crude oil before sanctions are levied to US$47.60 a barrel.

However, Trump has announced steep tariffs on US imports from India in part due to its major Russian energy purchases.

The EU is currently drafting a 19th package of Russia sanctions, which EU diplomats said was likely to include more listings of Chinese companies, Russian banks and vessels in Moscow’s sanctions-evading “shadow fleet”,as well as a transaction ban on Russian oil.

The Kremlin said today that no sanctions would ever force Russia to change course.