EU leaders agreed late Monday night on a political deal to impose sanctions on Russian oil imports.
“Agreement to ban export of Russian oil to the EU,” European Council President Charles Michel tweeted from a leaders’ summit in Brussels. “This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine.”
The Council of the EU must still formally agree on the sanctions.
The compromise will allow Russia’s pipeline oil exports to the EU to continue temporarily, while seaborne shipments are blocked by the end of the year, as European Commission President Ursula von der Leyen announced earlier this month.
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