After long meetings tonight, the EU has agreed on a ban on Russian oil. The agreement means that more than two thirds of oil imports from Russia will be stopped. The hope is that this will give less money to Russia’s invasion war in Ukraine. – We want to stop the Russian war machine and the financing of their military capacity, said EU leader Charles Michel after the summit in Brussels. Russia has long earned large sums of money exporting oil and gas to Europe. That will now be the end of it. Towards more green energy As early as Tuesday morning, the price of oil rose as a result of the EU boycott. The oil price is now at its highest since March, according to DN. Because the boycott only applies to oil imported by sea, three countries are exempted. Hungary imports 60 percent of the oil they use via pipelines from Russia. The Czech Republic and Slovakia will also be allowed to continue oil imports. Nevertheless, 90 percent of Russian oil will be gone from the EU market by the end of the year. EU Commission President Ursula Von der Leyen believes so. She says the EU has also agreed on “massive investments in renewable energy.” This was the sixth time that EU leaders agreed on sanctions against Russia. Criticism from Zelenskyj Ukrainian President Volodymyr Zelenskyj asked the EU to stand together. “Only an effective embargo can make Russia realize what the war costs them,” Zelensky said at the summit. He hopes a boycott can force Russia to negotiate. Requests boycott: Ukrainian Prime Minister Volodymyr Zelenskyj Photo: Markus Schreiber / AP The EU is also introducing a ban on entry for more Russians. They throw Russia’s largest bank Sberbank out of the global payment system Swift. And three Russian TV channels are banned At the same time, the EU comes with 9 billion euros in support of Ukraine. The money will keep the state going, among other things by paying for salaries and helping to keep hospitals and schools open.
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EU agrees on Russian oil cut – NRK Urix – Foreign news and documentaries
