STORY: EU countries are close to reaching an agreement on a new package of sanctions against Russia, the bloc's foreign policy chief Kaja Kallas said on Tuesday (July 15).

"We hope to reach a political agreement on the 18th sanctions package. We are very, very close. I hope it comes today," Kallas said before a meeting with foreign affairs ministers from the 27 EU countries in Brussels.

Sources told Reuters on Monday that all the elements of the package had been agreed, although one member state still had a reservation about a proposed lower price cap on Russian oil.

"It's alive," Kallas said when asked about the price cap.

The European Commission last month proposed the 18th package of sanctions against Russia for its invasion of Ukraine, aimed at Moscow's energy revenue, its banks and its military industry.

The new package proposes banning transactions with Russia's Nord Stream gas pipelines, as well as banks that engage in sanctions circumvention.

It also proposes a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats have said.

DESCRIPCIÓN DE IMÁGENES

VIDEO SHOWS: EU FOREIGN MINISTERS ARRIVING FOR MEETING IN BRUSSELS / SOUNDBITES FROM EU FOREIGN POLICY CHIEF, KAJA KALLAS, ON UKRAINE

RESENDING WITH COMPLETE SCRIPT

SHOWS: BRUSSELS, BELGIUM (JULY 15, 2025) (EUROPEAN UNION – Access all)

1. EU FOREIGN POLICY CHIEF, KAJA KALLAS, ENTERING BUILDING

2. KALLAS WALKING TOWARDS MICROPHONES

3. (SOUNDBITE) (English) EU FOREIGN POLICY CHIEF, KAJA KALLAS, SAYING:

“(We) really welcome the news that comes from the United States that they will provide weapons to Ukraine so that they can defend themselves. Of course, we hope to reach also a political agreement on the 18th sanctions package. We are very, very close. I hope it comes today."

4. SLOVENIAN FOREIGN MINISTER, TANJA FAJON, ENTERING BUILDING

5. (SOUNDBITE) (English) EU FOREIGN POLICY CHIEF, KAJA KALLAS, SAYING:

"We are working on this oil price gap. It's alive, so hopefully we'll get an agreement. Now, like I said to you before, even if the Americans are not on board, but the other G7 countries are on board, then we will move on with this."

6. DANISH FOREIGN MINISTER, LARS LOKKE RASMUSSEN, ARRIVING