According to EU diplomats, the package includes a 12-month freeze on the Russian oil price cap, as well as a one-year exemption allowing the transfer of Russian liquefied natural gas (LNG) to third countries, with automatic renewal.
The decision comes as global oil prices continue to fluctuate amid tensions in the Middle East and concerns over energy supplies.
The new sanctions package expands the list of sanctioned entities to include 32 Russian banks, several cryptocurrency businesses, oil traders, and vessels belonging to or supporting the so-called "shadow fleet" used to export Russian oil.
