EU on cusp of proposing new Russia sanctions

The European Union's top diplomat says the bloc's executive branch is on the cusp of proposing a new raft of sanctions against Russia, including on oil.

EU policy commissioners have been discussing the new sanctions and are set to send their proposals later Tuesday to the 27 member countries for debate.

The union's foreign policy chief Josep Borrell said in a tweet that the executive is "working on the 6th package of sanctions which aims to de-swift more banks, list disinformation actors and tackle oil imports." Swift is the most widely used international system for bank transfers.

Member countries have been involved in drawing up the proposals, but they routinely take days to endorse them. The sanctions can only enter force once they are published in the EU's Official Journal. Hungary and Slovakia have already expressed reservations about signing on.

EU ambassadors are scheduled to meet on Wednesday. EU Commission President Ursula von der Leyen is also likely to explain the proposals early Wednesday at the European Parliament in Strasbourg, France.