EU clinches compromise deal on banning Russian oil

EU leaders say they will block most Russian oil imports by the end of 2022 to punish Moscow for invading Ukraine.

The EU-wide ban will affect oil that arrives by sea - around two-thirds of imports - but not pipeline oil, following opposition from Hungary.

Poland and Germany have also pledged to end pipeline imports, meaning a total of 90% of Russian oil will be blocked.

European Council chief Charles Michel said the deal cut off a huge source of financing for the Russian war machine.

It is part of a sixth package of sanctions approved at a summit in Brussels, which all 27 member states have had to agree on.

Russia currently supplies 27% of the EU's imported oil and 40% of its gas. The EU pays Russia around €400bn ($430bn, £341bn) a year in return.

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