European Union leaders agreed Monday to embargo most Russian oil imports into bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support.
The embargo covers Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline, a move that was crucial to bring landlocked Hungary on board a decision that required consensus.
EU Council President Charles Michel said agreement covers more than two-thirds of oil imports from Russia. Ursula Von der Leyen, head of EU's executive branch, said punitive move will "effectively cut around 90% of oil imports from Russia to EU by end of year."