The European Union has postponed the approval of a new sanctions package against Russia until April 23rd. This decision comes as member states continue to negotiate the details, requiring compromise to achieve consensus. Simultaneously, the EU has opted to maintain the current price cap on Russian oil exports beyond its Wednesday expiration date. This extension aims to provide more time for discussions surrounding the new sanctions regime. Ursula von der Leyen acknowledged the need for concessions amongst member states to proceed. The delay highlights ongoing divisions within the EU regarding the scope and impact of further sanctions on Russia. The temporary extension of the oil price cap seeks to balance maintaining pressure on Russia with ensuring market stability.