The move was announced by Spanish Foreign Minister Jose Manuel Albares after the meeting concluded.
EU foreign policy chief Josep Borrell later confirmed the agreement, saying a “solid compromise” has been agreed upon “at the working level” and that he hopes it will be “fully adopted soon”.
At last month’s foreign policy meeting, the bloc failed to pass sanctions unanimously.
Albares celebrated the bloc’s decision on Monday, but stated decisions like these are “coming too slow” compared to what the “Palestinian population needs”.
He also told journalists that “unfortunately” there was no agreement about Spain and Ireland’s idea to discuss the EU Association Agreement with Israel on the basis of human rights violations.
However, he said he appreciated the debate and dialogue around the question, adding that the Israeli foreign minister will be invited to a future Foreign Affairs Council meeting.
“I do see that many countries are coming closer to where Spain and a small group of countries were in December,” he added.
Spain is calling for an immediate and permanent cease-fire in Gaza, the release of all hostages, and for humanitarian aid to reach the territory by land.
From there, Madrid is advocating for an international peace conference that would result in the international community recognizing a viable Palestinian state.