Russia’s economy is under growing strain as its invasion of Ukraine drags on and Western sanctions are undermining President Vladimir Putin’s ability to sustain his war, a leading European economist said after briefing finance ministers on Tuesday.

"We are waiting for (Russian President Vladimir) Putin's agreement and we agree that if there is no real progress this week, we want to work together at European level for a significant tightening of sanctions," Merz said at a news conference with his Greek counterpart.

Brussels holds Rama in high esteem, with EU officials praising him for his diplomatic skills and sharp wit. A reflection of this is the fact that Albania, within a year, has opened a majority of the EU accession chapters and is set to open some more by the end of this month.