The European Union agrees to the embargo of “more than two thirds” of its imports of Russian oil. The compromise reached by the EU leaders affects only Russian oil that arrives by sea; and allows a temporary exception for imports supplied through pipelines to Hungary, Slovakia and the Czech Republic, as requested by Hungarian Prime Minister Víktor Orbán.
The president of the European Council, Charles Michel, announced the agreement on his Twitter account, assuring that it will cut off a huge source of financing for the Russian war machine.
“Let’s be clear: This measure will have an immediate impact on 75% of Russian oil and before the end of the year about 90% of Russian oil imported into Europe will be affected by this measure,” said Charles Michel.
“There are other important elements of the sanctions package, such as the disengagement of Sberbank. The ban on insuring Russian ships by European companies means that Russian companies will not be provided with a whole series of business services. Added to this is the suspension of broadcasts in the EU of three other Russian state media,” settled Von der Leyen.
Earlier, President Zelensky called on EU leaders to end “internal disagreements” delaying an oil ban and a sixth sanctions package.
Hungarian Prime Minister Viktor Orbán blocked the outright ban, as his country gets more than 60% of its oil from Russia through the Soviet-era Druzhba pipeline.
In this two-day summit, the EU leaders will discuss other issues related to Ukraine, such as food security.