The EU also targeted the Nord Stream pipelines between Russia and Germany to prevent Putin from generating any revenue from them in future, notably by discouraging would-be investors. Russian energy giant Rosneft’s refinery in India was hit as well.

Europe will not back down in its support for Ukraine. The EU will keep raising the pressure until Russia ends its war,” EU foreign policy chief Kaja Kallas said in a statement.

Former Russian President Dmitry Medvedev on Friday predicted the Russian economy would withstand the European Union's latest sanctions package and said Moscow would intensify its strikes against Ukraine.