May 31, 2022

European Union leaders have agreed in principle to cut 90 percent of oil imports from Russia by the end of this year, cutting off a vital source of funding for Moscow’s invasion of Ukraine, after reaching a compromise deal with Hungary.

The 27-nation organisation has spent weeks haggling over a complete ban on Russian oil but encountered stubborn resistance from Hungarian Prime Minister Viktor Orban who said an embargo would destroy his country’s economy.

At a meeting in Brussels on Monday, leaders hatched a compromise deal to exempt deliveries arriving in Europe by the Druzhba pipeline.

Read more:

https://www.aljazeera.com/news/2022/5/31/eu-leaders-agree-russian-oil-ban-after-hungary-compromise