EU's 7th sanctions package on Russia may be approved next week - media reports

This was reported by Euractiv, citing several EU diplomats.

According to media reports, EU ambassadors are starting consultations regarding the introduction of new restrictions against Russia on Thursday.

The package would include a ban on imports of Russian gold, the country's largest non-energy export.

The decision was agreed at last month's G7 summit by France, Germany and Italy with their counterparts from the US, Canada, Japan and Britain.

Industry analysts say the ban may be largely symbolic, as previous punitive measures imposed on Moscow have already effectively closed European and American markets to it.

The package will also expand the list of dual-use goods banned for export to Russia and the list of individuals and entities associated with Russian President Putin's wide circle.

In addition, the new package of sanctions will be aimed at closing loopholes in previously approved anti-Russian sanctions.