EU aims for Russia sanctions deal, including oil price cap

EU aims for Russia sanctions deal, including oil price cap

The European Union is aiming for a preliminary deal as soon as Monday on a new sanctions package against Russia.

“I am hopeful in a couple of hours we can have a unanimous agreement on the sanctions package,” Polish ambassador to the EU, Andrzej Sados, told reporters. “We are very close to it and there is determination to clinch a deal ASAP.”

Sados said the deal would likely include political backing for imposing a price cap on Russian oil, with the exact level of the cap to be unanimously approved at a later stage.

Member states are eager to reach an agreement before EU leaders meet in Prague on Oct. 7, said people familiar with the matter, who asked not to be identified because the discussions are private.

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