European Union (EU) leaders agreed on Monday to cut 90 per cent of oil imports from Russia by the end of this year, the latest sanction on the country after the Ukraine invasion started three months ago.
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The 27-nation bloc has spent weeks haggling over a proposed total embargo on Russian oil but came up against stubborn resistance from Hungarian Prime Minister Viktor Orban.
EU leaders meeting in Brussels hatched a compromise deal to exempt deliveries arriving in Europe 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.
"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 per cent 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.
"Russia has chosen to continue its war in Ukraine. Tonight, as Europeans, united and in solidarity with the Ukrainian people, we are taking new decisive sanctions," French President Emmanuel Macron tweeted, echoing the figure of 90 per cent by the end of 2022.
