New Delhi, May 14 -- The European Union on Wednesday approved a new round of sanctions targeting Russia, specifically cracking down on its so-called "shadow" oil fleet. This move comes as the EU warns of more severe actions if Moscow fails to agree to a ceasefire in Ukraine.

The sanctions package - the 17th imposed by the EU since Russia's full-scale invasion of Ukraine in 2022 - had already been in development prior to the latest ultimatum from European leaders in support of US-backed peace initiatives.

Diplomats representing the EU's 27 member states approved the package at a meeting in Brussels, according to the Polish presidency of the bloc.

The package -- set to be formally adopted on Tuesday -- includes blacklisting some 200 oil ...