EU close to agreement on new sanctions against Russia, Kallas says

European Union countries are close to reaching an agreement on a new package of sanctions against Russia, the bloc's foreign policy chief Kaja Kallas said on Tuesday.

"We hope to reach a political agreement on the 18th sanctions package. We are very, very close. I hope it comes today," Kallas said before a meeting with foreign affairs ministers from the 27 EU countries in Brussels.

Sources told Reuters on Monday that all the elements of the package had been agreed, although one member state still had a reservation about a proposed lower price cap on Russian oil.

"It's alive," Kallas said when asked about the price cap.

"We have made proposals, but it is a question of whether we can overcome the veto of one member state or not. But we are trying to work on that."

The European Commission last month proposed the 18th package of sanctions against Russia for its invasion of Ukraine, aimed at Moscow's energy revenue, its banks and its military industry.

The new package proposes banning transactions with Russia's Nord Stream gas pipelines, as well as banks that engage in sanctions circumvention.

It also proposes a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats have said.
 

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