India, May 7 -- European Commissioner for Energy Kadri Simson has announced that the European Commission is preparing to impose a new package of sanctions against Russia.

Simson announced the move at a meeting with Ukraine's Energy Minister German Galushchenko during an official visit to Kyiv.

Galushchenko said "Sanctions should deprive Russia of the opportunity to be any kind of player in the world markets."

The meeting also focused on coordinating international cooperation to increase pressure on Russia and oust the aggressor country from global energy markets. Specifically, the Commissioner and Minister discussed the termination of the contract for the transit of Russian gas to Europe later this year.

"The EU has been preparing for t...