Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Ukraine's key allies, including the US, are considering upping the ante on banning exports to Russia, in a move that could potentially lead to a significant tightening of economic pressure on President Vladimir Putin over his war. The proposal, which is still being debated and could change, would see the existing sanctions flipped around: banning all exports unless exempted, we've been told. If Group of Seven leaders endorse the move, exactly what would be excluded would then have to be agreed, with medicines and agricultural products including food very likely to stay exempted. But to enter into force in the EU, the new criteria would need to be adopted by all members, which -- with some companies' remaining ties to Russia and concerns over Putin's retaliation — is not a given. —Natalia Drozdiak |
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