The European Union (EU) added a ban on property transactions with Russian nationals to its sixth package of sanctions designed to raise pressure on Russian President Vladimir Putin, Bloomberg reported.

The European Commission’s proposal would halt property deals with Russian citizens, residents and entities—prohibiting the sale or transfer, directly or indirectly, of “ownership rights in immovable property located within the territory of the Union or units in collective investment undertakings providing exposure to such immovable property,” according to the legal text.

The ban is part of the EU’s latest move to hit the Russian state and oligarchs, measures that will for the first time target Moscow’s lucrative oil industry and Sberbank, the country’s largest bank. The plan needs to be endorsed by EU member states this week before entering into force—and may be subject to change.

The prohibition applies to Russians who are not EU citizens and lack a residency permit in EU member states. It doesn’t apply to those who carry citizenship or residency in the European Economic Area or Switzerland.

The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine. The bloc is also targeting insurers in a move that could dramatically impair Moscow’s ability to ship oil around the world.