EU clinches compromise deal on banning Russian oil

Tuesday, 31 May 2022newsdesk

European Union leaders have agreed on a plan to block more than two-thirds of Russian oil imports.

New Delhi, 31 May 2022

As per news report of BBC, the ban is a compromise that will not affect pipeline oil imports for now, following opposition from Hungary. 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. Mr Michel said the EU had also agreed hard-hitting measures targeting Russia's largest bank, Sberbank, and three state-owned broadcasters.

Source -BBC