"Today we will accept the 14th package of sanctions against Russia. With regard to the frozen assets of Russia, an agreement was reached, we agreed on sufficient security guarantees for this process in order to release income from frozen Russian assets," Lahbib said ahead of the EU foreign ministers' meeting.
EU members will immediately begin work on the next sanctions package against Russia, Finnish Foreign Minister Elina Valtonen said later in the day.
"I am grateful for the 14th sanctions package now, and yes, the negotiations took a long time … Of course the work on the next sanctions package will start immediately," Valtonen told reporters ahead of the Foreign Affairs Council meeting in Luxembourg.
On Thursday, EU countries agreed on the 14th sanctions package against Russia, which is set to bar Russian tankers from using EU ports to unload cargo to move it between large and smaller tankers bound for third countries. It will also target Russia's defense, financial and energy sectors, EU foreign policy chief Josep Borrell has said.