BRUSSELS, May 31 (Reuters) – European Union leaders have agreed an embargo on Russian crude oil imports that will take full effect by the end of the year, but Hungary and two other landlocked Central European states secured exemptions for the pipeline imports they rely on.
The ban, agreed overnight after weeks of wrangling, aims to halt 90% of Russia’s crude imports into the 27-nation bloc by year-end, officials said.
It is the toughest sanction yet on Russia for its invasion of Ukraine, and one that will itself affect the EU, where energy prices have spiked and inflation is running at close to a double-digit clip. Cyprus Mail/Reuters