Berlin, Brussels, Zurich A small group of demonstrators have gathered in front of the European Council, carrying Ukrainian flags and holding up a cardboard sign. “How does it feel to fund genocide?” It says in red. The question is aimed at the EU ambassadors, who behind the facade of glass and light brown rock are discussing new economic sanctions against Russia.

With every day of war and every atrocity committed by the Russian army, the pressure on Europe to do more – and to cut off the regime in Moscow from its most important sources of foreign currency – grows. So far, sanctions in the energy sector have been limited to stopping coal imports. Gas and oil, which are more important for Russia’s trade balance, Russia can continue to sell to the EU.