Visiting European Commission President Ursula von der Leyen has said that the European Union (EU) will impose new sanctions on Russia by February 24, the first anniversary of the Russia-Ukraine war.

"By the anniversary of the start of the full-scale offensive, we aim to have the 10th package of sanctions," von der Leyen was cited as saying by the Interfax-Ukraine news agency.

Speaking at a joint press conference with Ukrainian President Volodymyr Zelensky, von der Leyen said that the new sanction package, which is being prepared together with the countries of the Group of Seven (G7), is set to include an additional price cap on Russia's oil products, Xinhua news agency reported.

In addition, the EU is deciding on ways to use Russia's assets for the restoration of Ukraine, she added.