BRUSSELS -- The European Union approved on Friday a new raft of sanctions against Russia over its war on Ukraine, including a lower oil price cap, a ban on transactions with Nord Stream gas pipelines, and the targeting of more shadow fleet ships, the EU foreign policy chief said.

Former Russian President Dmitry Medvedev on Friday predicted the Russian economy would withstand the European Union's latest sanctions package and said Moscow would intensify its strikes against Ukraine.

The European Union and the UK have increased sanctions on Russia in response to its ongoing war against Ukraine. This includes targeting Russia's energy sector, military intelligence, and shadow fleet.