Russian economy may face more hardship as the EU looks to close sanctions loopholes

• Russia's economy could face more pressure as the EU eyes sanctions loopholes, the Financial Times reported.
• It could involve sanctioning countries that re-export banned products into Russia.
• Meanwhile, the US proposed a full export ban on Russia, but found little support in the G7.

The Russian economy could come under more pressure as the European Union reportedly looks to close sanctions loopholes.

EU officials are discussing new measures that would penalize countries for re-exporting banned products to Russia, sources told the Financial Times.