The European Union Is Almost Agreeing On New Sanctions Against Russia

JAKARTA - EU foreign policy chief Kaja Kallas said on Tuesday the bloc countries were close to reaching an agreement on a new sanction package against Russia.

"We look forward to reaching a political agreement regarding the 18th sanctions package. We are very, very close. I hope the deal is reached today," Kallas said before a meeting with foreign ministers from 27 European Union countries in Brussels, Belgium.

Sources told Reuters on Monday all elements of the package had been agreed upon, although one member state still had doubts about lower pricing proposals for Russian oil.

"It's still there," said Kallas when asked about the limits of the sanctions imposed.

"We have submitted a proposal, but the question is whether we can overcome the veto of a member state or not. But we are trying to work on it," he said.

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

The new package proposes banning transactions with Russia's Nord Stream gas pipeline, as well as banks involved in sanctions avoidance.

The package also proposed a 15 percent floating price limit for Russian oil below the average market price of crude oil in the previous three months, EU diplomats said.