EU Leaders Agree To Ban 90% Of Russian Oil

May 31, 2022 4:21 am

BRUSSELS (AP) – European Union leaders have agreed to embargo most Russian oil imports into the bloc by year-end. The move is part of new sanctions on Russia worked out Monday at a summit focused on helping Ukraine with a long-delayed package of new financial support. The embargo covers Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline. That was crucial to bringing landlocked Hungary on board a decision that required consensus. EU Council President Charles Michel says the agreement covers more than two-thirds of oil imports from Russia, cutting a huge source of financing for its war machine.