EU Agrees to Partial Ban onRussian Oil by End of Year

European Union (EU) officials agreed to impose a year-end embargo on most Russian oil shipments into the EU.

According to European Council Chief Charles Michel, the decision “Immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine,” and added that it is for “maximum pressure” on Russia to end the war.

President of the European Commission Ursula von der Leyen confirmed that Russian oil carried by tankers will be prohibited, with an exception made for the southern part of the Druzhba pipeline.

der Leyen explained that the pipeline’s northern segment supplies Poland and Germany, both of which have consented to the embargo, while Hungary, Slovakia, and the Czech Republic make up the southern half.

Michel’s announcement came after a special EU conference in Brussels on Monday, where EU leaders discussed the sixth set of sanctions against Russia.

“This sanctions package includes other hard-hitting measures: de-Swifting the largest Russian bank Sberbank, banning 3 more Russian state-owned broadcasters, and sanctioning individuals responsible for war crimes in Ukraine,” elaborated Michel.

EU Leaders also decided to grant Ukraine with a 9 billion euro ($9.7 billion) tranche of funding to help the war-torn country’s economy.

Michel expressed that the EU will “continue to bolster” Ukraine’s ability to defend its sovereignty.

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