(Illustration photo: err.ee)

The draft proposes that the EU limit oil and gas imports from Russia, ban new EU investments in Russia, and remove all Russian banks from the European financial system as well as from the SWIFT international payment system. However, this resolution is for advisory purposes only and is not binding.

On the same day, the EU announced that from Wednesday, it will ban Russian state media channels, including RT and Sputnik, from broadcasting in EU member states.