The U.S. and EU are set to impose new targeted sanctions on Russia tomorrow that would hit more individuals with travel bans and asset freezes.
The proposed action would come after the G7 concluded that Russia hasn't met its pledge to "de-escalate" the conflict with Ukraine.
However, any moves wouldn't target broad sections of Russia's economy, as Ukraine has demanded. While the U.S. and EU have made noises about wider-ranging action, individual EU countries fear the consequences for their economies. Businesses, especially in the energy sector, have been lobbying to limit the sanctions.
Meanwhile, Ukraine and Slovakia are tomorrow set to sign a limited reverse-flow agreement that would supply natural gas to Ukraine, which is looking to reduce its reliance on Russia for its energy needs.