The European Union is preparing new sanctions against Russia to enforce a 30-day ceasefire in Ukraine, targeting the financial sector and oil price caps. Ursula von der Leyen emphasizes the need for pressure on the Kremlin to negotiate peace. The G7's price cap on Russian oil has faced challenges, as Russia has adapted with a 'shadow fleet' to bypass sanctions. The EU may consider a lower price cap independently, but faces legal and geopolitical hurdles, including the need for unanimous approval from member states and potential friction with the US.