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EU Moves Closer to Russia Sanctions Deal With Oil Price Cap

  • Ambassadors from the 27 member states met in Brussels Monday
  • Countries with large shipping industries have been reluctant
Updated on

European Union countries edged closer to a deal on a new sanctions package, as they face strong pressure to punish Russia for escalating its war in Ukraine and illegally annexing four occupied territories there.

The main remaining hitch has been agreeing on the details of a price cap on Russian oil sales to third countries, where the bloc has faced pushback from a few seafaring nations.