EU agrees to lead Venezuela crisis group, consider more sanctions

The European Union agreed on Thursday to lead an international contact group with South American nations to help resolve Venezuela's political crisis by seeking new elections, EU foreign policy chief Federica Mogherini said.

The group, which will include Britain, France, Germany, Bolivia and Ecuador, will end after 90 days if no progress is made and stands ready to consider more economic sanctions on the government of President Nicolas Maduro.

"We have targeted sanctions in place and further ... sanctions might be considered by the ministers," Mogherini, the EU's top diplomat, told reporters after a meeting of EU foreign ministers in Bucharest. (Reporting by Robin Emmott and Alissa de Carbonnel)