The European Union is weighing a new round of restrictions that would hit some €5 billion ($5.3 billion) in trade with Russia as part of a sanctions package targeting Moscow for its war against Ukraine, Ednews informs via Bloomberg.

The bloc’s 12th package since Russia launched its invasion last year will tighten restrictions on Moscow’s revenue sources and industry and curtail the Kremlin’s ability to feed its war machine. Vast swathes of Russia’s economy have already been targeted, leaving EU policymakers to plug gaps, use targeted measures and tighten existing sanctions.

The new set of proposed measures includes export restrictions on welding machines, chemicals and further technologies used for military purposes, according to people familiar with the matter. Software license bans and restrictions on imports of a small number of processed metals and aluminum products, construction items, transportation-related goods and diamonds are also being considered.

EU leaders have sought to reassure Ukrainian President Volodymyr Zelenskyy that the bloc will hold the line in supporting Kyiv against the Russian invasion, despite worries that the Israel-Hamas war will trigger a broader conflict in the Middle East and distract focus.

The newly proposed import and export measures on Russia would add up to about €2.5 billion each, according to the people, who spoke on condition of anonymity to discuss private deliberations. The diamond ban is contingent on a Group of Seven agreement to track and trace the precious stones across borders, which is expected to be finalized soon.

The European Commission, the bloc’s executive arm, began consulting with member states this month. Russia had found a channel to import several machines used to produce ammunition and weapons, Bloomberg reported earlier.

The proposals could still change before they’re formally presented to member states and will need the backing of all 27 nations to be approved.