EU agrees to partial ban on Russian oil imports

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“The agreement to ban the export of Russian oil to the European Union. This immediately covers more than two-thirds of oil imports from Russia, cutting off a huge source of financing for its war machine,” Michel said. Announced in a tweet Monday evening.

Michel’s announcement followed an extraordinary summit of the European Council attended by EU leaders in Brussels on Monday To discuss the sixth package of sanctions against Russia.

“This package of sanctions includes other harsh measures: canceling the speed of Russia’s largest bank Sberbank, banning 3 other Russian state-owned radio stations, and punishing individuals responsible for war crimes in Ukraine,” Michel added.

European Union leaders are due to meet again in Brussels on Tuesday to discuss the bloc’s response to Russia’s invasion of Ukraine.

Officials first proposed joining the United States and others in embargoing Russian oil a month ago as part of the sixth package of European Union sanctions over the country’s invasion of Ukraine. But the agreement was postponed before some countrieslike Hungary, which is particularly dependent on the delivery of Russian crude through the pipeline.

An EU official told CNN earlier that a ban on all seaborne oil would cover more than two-thirds of imports from Russia.

Europe is the largest buyer of Russian energy. Russian crude made up 27% of the bloc’s imports in 2021, according to Eurostat. That’s about 2.4 million barrels per day, according to IEA data. According to the International Energy Agency, about 35% of this amount was delivered via pipelines to the block.

But pipeline deliveries made up a much larger share of Russian oil shipments to Hungary (86%), the Czech Republic (97%) and Slovakia (100%).

CNN’s Anna Cuban and James Frater contributed to this report

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