The EU's foreign policy chief, Josep Borrell, said the bloc was close to approving a new round of sanctions against Russia.

(Reuters)

[Financial Channel/Comprehensive Report] EU foreign policy chief Josep Borrell said on Wednesday (5th) that the EU is about to finally approve a new round of sanctions against Russia's war on Ukraine.

The measures include more restrictions on trade with Russia in steel and technology products, as well as oil price caps for shipping Russian crude oil to third countries through European insurers.

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In addition, sanctions will include individuals involved in Moscow's referendum on temporary annexation in occupied eastern Ukraine, as well as those involved in bypassing sanctions.

The deal is expected to be formalised by 8am GMT on Thursday, if there are no last-minute objections from EU countries.

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