European Union (EU) leaders on Monday announced a ban on most Russian oil imports, after a compromise deal with Hungary to punish Moscow for the war in Ukraine, AFP reported.
The 27-nation bloc has spent weeks haggling over a proposed total embargo on Russian oil but came up against stubborn resistance from Hungarian premier Viktor Orban.
EU leaders meeting in Brussels hatched a compromise deal to exempt deliveries by pipeline from the ban, after Budapest warned halting supplies would wreck its economy.
"Agreement to ban export of Russian oil to the EU. This immediately covers more than two thirds of oil imports from Russia, cutting a huge source of financing for its war machine," European Council chief Charles Michel tweeted during the summit, adding, "Maximum pressure on Russia to end the war."
The head of the EU's executive, Ursula von der Leyen, said the move "will effectively cut around 90 percent of oil imports from Russia to the EU by the end of the year" as Germany and Poland had committed to renounce deliveries via a pipeline to their territory.
The US and other Western countries have imposed several rounds of sanctions on Russia in response to its invasion of Ukraine.
In April, Washington announced new measures against Russia, such as sanctions on President Vladimir Putin’s two adult daughters.
Ukrainian President Volodymyr Zelenskyy has called for even harsher sanctions that are economically destructive enough for Russia to end its war against his country.