European Union leaders gathering Monday for a two-day summit in Brussels are setting a low bar for expectations for a tough new sanctions policy to cut off the supply of Russian oil exports as a punishment for Moscow’s invasion of Ukraine.
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EU Leaders Agree to Ban 90% of Russian Oil by Year-EndEuropean 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.
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EU leaders agree on partial embargo on Russian oilThe watered-down embargo agreed on Monday covers only Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline.
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