EU to ban most Russian oil imports to put ‘maximum pressure’ on Putin to end war on Ukraine


European Union leaders agreed on Monday to block most Russian oil imports due to the invasion of Ukraine.

Why is this important: “This immediately covers more than 2/3 of oil imports from Russia, cutting off a huge source of funding for its war machine,” European Council President Charles Michel said. tweeted. “Maximum pressure on Russia to end the war,” he added.

  • The agreement of the 27 EU member countries “will effectively reduce about 90% of Russia’s oil imports to the EU by the end of the year”, noted European Commission President Ursula von der Leyen in a statement. Tweeter Monday.
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Yes, but: There is an exemption for oil transfers via pipelines after the EU saw some resistance to the proposed oil embargo from landlocked countries, notably Hungary.

Rollback: Hungarian Prime Minister Viktor Orbán, a close ally of Russian President Vladimir Putin, had said that a rapid elimination of Russian oil would amount to dropping “a nuclear bomb on the Hungarian economy”, according to the Washington Post.

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