The bloc's foreign policy chief, Josep Borrell, announced the move after a meeting of EU foreign ministers in Brussels on Monday.
Borrell, the European Union's High Representative for Foreign Affairs, told reporters: "This 12th package will include new export bans, among them diamonds, actions to tighten the oil price cap, in order to decrease the revenue that Russia is getting from selling its oil - not to us but to others - and fighting against circumvention."
He said the European Commission could approve the proposed package on Wednesday, and it would then go to the Council of the EU, comprising the bloc's 27 member countries, for discussion and approval.
The inclusion of a diamond import ban is particularly noteworthy as Russian diamonds were one of the few goods not yet affected by EU sanctions, the Reuters news agency reported.
(jh/gs)
Source: Reuters