The next round of European Union sanctions against Russia will exclude more Russian banks from the SWIFT system and is likely to ban Russian ships from entering ports as well as importing some major Russian goods, Irish Foreign Minister Simon Coveney said.

"There will be more Russian banks taken out of the SWIFT system. I suspect all Russian-flagged ships will be banned from entering EU ports. I also suspect that we’ll be banning other imports like steel, timber, aluminum and possibly coal as well,” Coveney told Irish national broadcaster RTE.

The EU said on Wednesday it was excluding seven Russian banks from SWIFT, but did not include Sberbank and Gazprombank.