EU scrambles to seal new Russia sanctions as deadline looms

BRUSSELS: EU countries were scrambling on Tuesday (Jul 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.Ambassadors from 27 member states were due to hold last-ditch talks in Brussels to thrash out a deal on the new package after a raft of objections held up an accord.If no agreement is found by Wednesday then the EU could be forced to hike its price cap aimed at curbing the amount Russia can make from its global oil exports.Under current regulations the level of the cap should shoot up from US$44 to tally more closely with international oil prices after a surge due to the Middle East war. Brussels had wanted to change those rules in the new sanctions package to maintain the current level for severa