Agreement reached on ban of Russian oil imports

(Patria) - President of the European Council Charles Michel said that an agreement has been reached on banning the import of Russian oil into the EU.

"This immediately covers more than two-thirds of oil imports from Russia, cutting a huge source of funding for Russia's war machine. This puts maximum pressure on Russia to end the war," Michel said.  

The EU has also reportedly agreed on a deal to ban 90 percent of Russian oil imports into the 27-member bloc by the end of 2022.

Leaders also agreed to exclude Russia's largest bank, Sberbank, from the SWIFT system and to ban three more Russian state-owned television channels, and to sanction individuals responsible for war crimes in Ukraine, he added.