India, Oct. 23 -- The European Union on Thursday announced new economic sanctions on Russia, joining the US, which had imposed fresh penalties on the Russian oil industry the day before.

Russian state media dismissed the measures, saying they are largely ineffective.

The sanctions are part of a wider push to pressure Russian President Vladimir Putin into negotiating an end to the war in Ukraine.

"We waited for this. God bless, it will work. And this is very important," Ukrainian President Volodymyr Zelensky said in Brussels, where EU leaders at a summit unveiled the latest sanctions.

Energy revenue is crucial for Russia's economy, allowing Putin to fund the military while keeping inflation stable and avoiding a currency collapse.

Zel...