France's Macron says Russia could face new sanctions if no ceasefire

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

"Our intention is to impose new sanctions against Russia in the coming days" if Moscow refuses to implement a ceasefire, Macron said in a prime-time interview on TF1. "We are coordinating in this regard."

Macron's comments echoed those by German Chancellor Friedrich Merz earlier on Tuesday, who said European allies would roll out "a significant tightening of sanctions" on Russia if President Vladimir Putin does not agree to a ceasefire.

Merz also cited sectors including energy and financial markets as possible targets. French Foreign Minister Jean-Noel Barrot said on Monday the European Commission had been asked to propose new sanctions in those areas.

The leaders of Britain, France, Germany and Poland said on Saturday that Russia would be hit by new punitive measures if it did not heed calls for a 30-day ceasefire within days.

That pledge failed to move Putin, who instead called for direct talks with Ukraine in Istanbul on May 15. US President Donald Trump backed that call, undermining the European leaders' efforts to show Trump was firmly on board with their threat.

Diplomats say after 16 sanction packages imposed on Russia by the EU over the war in Ukraine, it is increasingly difficult to achieve necessary unanimity among the bloc's 27 members to pass major new measures.