EU reaches partial agreement on embargo on Russian oil at summit

European Union leaders have reached a partial agreement on an embargo of Russian oil at the summit, the Associated Press is reporting.

EU leaders agree to ban more than two-thirds of oil imports from Russia

After hours of last-minute negotiations – and failure to come to agreement – European Union leaders have agreed to ban more than two-thirds of of all Russian oil imports.

The ban, which President Zelenskiy spent Monday advocating EU leaders for as a show of unity against Vladimir Putin, was heavily resisted by Hungary. Earlier compromises included exempting Russian oil transported through the Soviet-era Druzhba pipeline for Hungary, the Czech Republic and Slovakia from the EU embargo.

While the ban will put the “maximum pressure on Russia to end the war”, as Charles Michel, president of the European Council, said on Twitter, it will also probably result in a hike in the already high gas prices across Europe, which is heavily reliant on Russian oil.