EU approves new Russia sanctions with lower oil price cap

European Union foreign policy chief Kaja Kallas. File Picture: AP Photo/Geert Vanden Wijngaert

The European Union on Friday agreed an 18th package of sanctions against Russia over its war in Ukraine, including measures aimed at dealing further blows to the Russian oil and energy industry.

The package aims to lower the G7's price cap for buying Russian crude oil to $47.6 per barrel, diplomats told Reuters.