The European Union is considering a proposal to replace its price cap on Russian oil with a ban on maritime services as part of its latest package of sanctions targeting Moscow for its war against Ukraine.

The move, if backed by member states, could see European companies prohibited from providing services such as insurance and transportation needed to move Russia’s oil regardless of the price of the commodity, according to people familiar with the discussions.

An outright ban would significantly tighten restrictions imposed on Russian oil and make the enforcement of sanctions easier, said the people, who spoke on condition of anonymity to discuss private deliberations.

A spokesperson for the European Commission, which handles sanctions actions for EU, declined to comment.

The price cap for Russian crude oil is currently set to fall to $44.10 per barrel from Feb. 1. The price-setting mechanism, which is reviewed every six months, is designed so that the price threshold is 15% lower than the average market price for Urals crude.

Member states have been briefed on the potential contents of the EU’s latest proposed sanctions package, the bloc’s 20th since Russia’s full-scale invasion of Ukraine in 2022. The EU is aiming to approve the package by the end of next month.

The bloc’s sanctions require the support of all member states to be adopted and several capitals have already indicated they’re against replacing the price cap with a ban on services, according to the people.

Much of the EU’s focus has been on limiting Russia’s oil revenue, which is seen as vital to sustain the Kremlin’s war against Ukraine and to prop up the wider economy. Moscow’s oil flows have plunged to their lowest since the invasion began on the back of US and European sanctions and low prices. Prices have edged up in recent days as US President Donald Trump threatens Iran with military strikes if it doesn’t make a nuclear deal.

Elsewhere, the EU is expected to propose further restrictions on Russian banks and oil companies, as well as cryptocurrency services and financial entities in third countries that are helping Moscow get around the bloc’s sanctions, the people said. The sanctions will also list more shadow fleet vessels.

The bloc is also mulling applying its anti-circumvention tool for the first time, which would see machine tools and certain radio equipment banned from being exported to Kyrgyzstan, according to the people.

The proposed package would see fresh trade restrictions on more companies, goods needed by Russia to produce weapons and limiting imports of several Russian metals, said the people.