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Reuters
Reuters
Business

EU leaders agree to ban export of Russian oil to the bloc - EU's Michel

FILE PHOTO - European Council President Charles Michel speaks during a joint news conference with Sweden's Prime Minister Magdalena Andersson (not seen) in Stockholm, Sweden May 25, 2022. TT News Agency/Fredrik Sandberg via REUTERS

EU leaders agreed on Monday to ban the export of Russian oil to the 27-nation bloc, EU Council President Charles Michel said.

"This immediately covers more than two thirds of oil imports from Russia, cutting a huge source of financing for its war machine," Michel wrote on Twitter.

The leaders also agreed to cut off the largest Russian bank Sberbank from the SWIFT system and to ban three more Russian state-owned broadcasters, he added.

(Reporting by Ingrid Melander, John Chalmers, Jan Strupczewski, Sabine Siebold and Marine Strauss)

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