RT.com
01 Oct 2022, 01:43 GMT+10
The provisional agreement comes as President Putin approves the incorporation of four former Ukrainian regions into Russia
EU nations have reached a preliminary agreement on an eighth round of sanctions on Russia, Reuters reported on Friday, citing sources in diplomatic circles.
Envoys from across the 27-nation bloc discussed the proposals made by European Commission President Ursula von der Leyen earlier this week, and reportedly gave an initial green light, with a final approval expected to come as soon as next week.
On Wednesday, the top official revealed a new package of "biting" sanctions that include more trade curbs, individual blacklisting and steps towards a price cap on Russian seaborne oil deliveries to third countries.
EU companies would also be barred from providing more services to Russia while European citizens would not be allowed to sit on boards of Russian state companies as per the proposal.
The fresh penalties will have to be approved unanimously by all EU member states before they can be officially introduced. However, the bloc has been split on the oil price cap issue, with Hungary being the most vocal critic of the move.
Earlier this week, Gergely Gulyas, a senior official in the government of Hungarian Prime Minister Viktor Orban, said that Budapest won't support any new Western sanctions if they target Russian energy, as Hungary is heavily dependent on those supplies.
In May, Budapest secured a waiver for itself when an embargo on importing Russian oil was included in one of the previous rounds of sanctions.
The new proposal has now to go to the bloc's national leaders meeting in Prague on October 6-7, the sources told the agency.
So far, Brussels has adopted seven rounds of sanctions, targeting Russia's financial sector, individuals and entities, as well as coal and gold, among other things.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationWASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: Brad Mills-Imagn Images) The Detroit Tigers will head into the All-Star break with the best record in the majors,...
(Photo credit: Rick Osentoski-Imagn Images) Randy Arozarena had three hits, including a two-run homer, and scored four runs as the...
(Photo credit: Wendell Cruz-Imagn Images) Cody Bellinger hit three homers for the first time in his career and drove in six runs,...