**EU on the Verge of Reaching New Sanctions Deal Against Russia**
The European Union (EU) is close to finalizing a new package of sanctions against Russia, according to EU foreign policy chief Kaja Kallas. This comes as the bloc continues to take measures against Russia for its invasion of Ukraine.
Speaking in Brussels on Tuesday, Kallas said that the 27 EU countries are “very close” to reaching an agreement on the 18th package of sanctions against Russia. While all elements of the package have been agreed upon, one member state still has a reservation about a proposed lower price cap on Russian oil.
“We hope to reach a political agreement on the 18th sanctions package,” Kallas said. “We are very close, I hope it comes today.”
**Price Cap Controversy**
The proposed 18th package of sanctions includes measures aimed at Moscow’s energy revenue, its banks, and its military industry. It also proposes banning transactions with Russia’s Nord Stream gas pipelines and banks that engage in sanctions circumvention.
However, one member state has a reservation about the proposed floating price cap on Russian oil, which would be 15% below the average market price of crude in the previous three months. Kallas acknowledged this issue, saying “it is a question of whether we can overcome the veto of one member state or not.”
**Impact and Analysis**
The EU’s new package of sanctions against Russia comes as part of its ongoing efforts to support Ukraine during the conflict. The proposed measures are aimed at limiting Moscow’s energy revenue and disrupting its military industry.
The fact that all elements of the package have been agreed upon suggests a high level of coordination among EU countries. However, the price cap controversy highlights the challenges of achieving unanimous agreement within the bloc.
As the situation continues to unfold, it remains to be seen whether the 18th package of sanctions will be finalized and implemented. The developments in Brussels are closely watched by global markets and governments as they navigate the complexities of international relations.
**What’s Next?**
The outcome of the EU’s efforts to finalize a new package of sanctions against Russia will have significant implications for global politics and economies. As Kallas noted, “it is alive,” suggesting that negotiations are ongoing to resolve any remaining issues.
As we continue to follow this story, it’s essential to remember that the EU’s actions against Russia are part of its broader efforts to support Ukraine and maintain stability in the region.
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