Oil prices edged lower on Tuesday after U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased concerns about any immediate supply disruption. Brent crude futures were down 15 cents at $69.

President Trump has effectively handed Vladimir Putin an extraordinary green light: 50 days to finish off his brutal summer offensive in Ukraine before facing any consequences.

The European Union did not approve the 18th Russia sanctions package on Tuesday, the EU's foreign chief Kaja Kallas said after a meeting with EU foreign ministers in Brussels.

Czech Prime Minister Petr Fiala has urged his Slovak counterpart Robert Fico not to block the adoption of the European Union's 18th package of sanctions against Russia. Source: Fiala in a letter seen by Czech media,

Prime Minister Robert Fico says the reassurances provided by Ursula von der Leyen are "insufficient" to satisfy Slovakia's concerns and lift his veto. View on euronews

In a major policy shift underscoring his growing frustration with President Vladimir Putin, Trump on Monday announced new deliveries of weapons to Ukraine and warned that buyers of Russian exports could face sanctions unless Russia agrees to a peace deal on Ukraine.

Trump's threat against Russia runs parallel to a Senate-led effort to pass crippling sanctions on countries that buy Russian energy.