EU Leaders Agree On Partial Russian Oil Embargo

EU Leaders Agree On Partial Russian Oil Embargo

May 31, 2022, 7:09 a.m.

European Union leaders have agreed to ban imports of Russian oil brought in by sea for the time being.

A compromise was reached at an EU summit that began in Brussels on Monday. Leaders discussed a proposal to impose an oil embargo on Russia by the end of the year, as part of additional sanctions over the country's invasion of Ukraine.

European Council President Charles Michel later tweeted that the leaders had agreed to ban exports of Russian oil to the EU. He wrote, "This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine."

The agreement excludes Russian oil delivered by pipelines.

A proposal for a full embargo faced strong opposition from Hungary, which said the measure would threaten its energy security. The country receives oil from Russia through a pipeline.

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