EU leaders agree to cut 90% of Russian oil imports

EU leaders agree to cut 90% of Russian oil imports
Twitter
Tuesday 31 May 2022 - 20:07

EU leaders agreed on Monday in an EU summit in Brussels to impose a partial oil embargo on Russia, by cutting 90% of Russian oil imports by the end of 2022 .

The embargo, which was agreed on after weeks of hard negotiations, will contain a temporary exemption of Hungary, Slovakia, and the Czech Republic so they can have access to oil via the Druzhba pipeline from Russia according to Reuters reports. The prime minister of Hungary, Viktor Orbán, announced on his Facebook page: ” An agreement has been reached. Hungary is exempt from the oil embargo!”

On the first day of the summit, Ukrainian President Volodymyr Zelenskyy joined The leaders via video conference urging the EU leaders to show strength and unity, saying internal “quarrels” only benefit Russia. “Why are you dependent on Russia, on their pressure, and not vice-versa? Russia must be dependent on you. Why can Russia still earn almost a billion euros a day by selling energy?” Zelenskyy criticizing EU leaders.

The agreement came as a punishment for Moscow for the aggressive war in Ukraine. European Council President Charles Michel said: “We want to put a stop to the Russian war machine, and stop financing for Russian military capacity.”

The meeting is a summit of the European Council, made up of 27 member states, bringing together the heads of state or government of the euro area countries, the Euro Summit President, and the President of the European Commission.

On their second day of the summit, EU leaders are expected to discuss energy, defense, and food security.

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