EU Agrees Ban on Most Russian Oil Imports, Remove Sberbank From SWIFT

• 05.31.2022, 12:20
•  EEU,  World

МК

EU leaders on Monday backed a ban on most Russian oil imports, after a compromise deal with Hungary to punish Moscow for the war in Ukraine, The Moscow Times reports.

"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. 

Michel said the sanctions package also involved disconnecting Russia's biggest bank Sberbank from the global SWIFT system, banning three state broadcasters and blacklisting individuals blamed for war crimes.

He also said that the EU had agreed to to send Ukraine 9 billion euros ($9.7 billion) to support Kyiv's "immediate liquidity needs" as it grapples with Russia's invasion. 

"Maximum pressure on Russia to end the war."

Tonight #EUCO agreed a sixth package of sanctions.

It will allow a ban on oil imports from #Russia.

The sanctions will immediately impact 75% of Russian oil imports. And by the end of the year, 90% of the Russian oil imported in Europe will be banned. pic.twitter.com/uVoVI519v8

— Charles Michel (@eucopresident) May 30, 2022