French President Emmanuel Macron said on Tuesday he was in favour of imposing new sanctions on Russia in the coming days if Moscow failed to respect a ceasefire, mentioning financial services and oil and gas as possible targets.

France is spearheading a renewed European effort to impose sweeping new sanctions on Russia, linking economic pressure to the urgent push for a ceasefire in Ukraine. France has taken the lead in rallying European Union partners to prepare new sanctions on Russia as hopes for a breakthrough in Ukraine peace efforts hinge on a proposed 30-day ceasefire.

French Foreign Minister Jean-Noël Barrot and US Senator Lindsey Graham will meet in Turkey on May 14. They will discuss new crippling sanctions against Russia, Le Figaro says. He noted that on Thursday,