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FRANKFURT — The European Union’s upcoming sanctions against Russia will target banks, especially Sberbank, as well as oil, European Commission chief Ursula von der Leyen has told a German newspaper.

Bild am Sonntag, in an interview published on Sunday, asked him to name the key points of a planned sixth round of sanctions.

“We look further at the banking sector, in particular Sberbank, which accounts for 37% of the Russian banking sector. And, of course, there are energy issues,” she said.

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The EU has so far spared Russia’s biggest bank from previous rounds of sanctions because it is, together with Gazprombank, one of the main payment channels for Russian oil and gas, which EU countries have purchased despite the conflict in Ukraine.

She also said the EU was working on “smart mechanisms” so oil could also be included in upcoming sanctions.

“What shouldn’t happen is that (Russian President Vladimir) Putin collects even higher prices in other markets for supplies that would otherwise go to the EU,” she said.

“The top priority is to cut Putin’s income,” she said. (Reporting by Tom Sims; editing by David Evans)

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