00:00In short, Russia's economy is limited to a war economy and sacrificing future prospects.
00:09Our message is very clear. This war must end. We need a real ceasefire.
00:18And Russia has to come to the negotiating table with a serious proposal.
00:22As it is up to today not showing willingness to achieve peace, we will step up pressure on Russia, including through further robust sanctions.
00:36Therefore, we are now proposing an 18th package of hard-biting sanctions.
00:41We're targeting basically two sectors, the Russian energy sector and the Russian banking sector.
00:47We're widening export bans and controls, and we strengthen the anti-circumvention measures.
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