The US and the EU are expected to unveil a new package of sanctions against Russia today, following a massacre in the Ukrainian town of Bucha which has been recently freed from Russian troops.

The US sanctions will target Russian banks and officials and ban new investment in Russia, the White House said.

Proposed EU sanctions, which the bloc's 27 member states must approve, would ban buying Russian coal and prevent Russian ships from entering EU ports, Reuters said.

EU executive Ursula von der Leyen has stated the bloc was working on banning oil imports, as well.

Europe, which receives about a third of its natural gas from Russia, has been wary of the economic impact a total ban on Russian energy would cause.