EU foreign ministers failed to sign off on 21st sanctions round. Wednesday is the last day to lock in an oil price cap.

"Every time we make a sanctions pact, it gets a little harder," said Danish Foreign Minister Lars Lokke Rasmussen.

EU is 'quite close' to a deal but there are no 'guarantees' package will be approved before Wednesday, says Kallas

EU foreign ministers failed to sign off on 21st sanctions round. Wednesday is the last day to lock in an oil price cap.

BRUSSELS: EU countries were scrambling Tuesday to agree a new round of sanctions on Russia, on the eve of a deadline that could weaken a key measure to tamp down Moscow’s oil…

EU countries were scrambling on July 14 to agree a new round of sanctions on Russia, on the eve of a deadline that could weaken a key measure to tamp down Moscow's oil revenues.

Brussels is racing to avoid a sanctions setback that could allow Russia to earn more from soaring global oil prices.