European Union leaders have reached an agreement to ban over two-third of Russian oil imports as they tighten the economic sanctions on Moscow. This comes even as Russia’s forces press into Ukraine’s eastern region of Donbas.
The deal was reached late on Monday and is meant to punish Russia for its invasion three months ago.
European Council chief Charles Michel tweeted out saying that the deal cuts a huge source of financing for the Russian war machine. ‘Maximum pressure on Russia to end the war’ he said.
The leaders of the 27-nation bloc had met up to negotiate the deal earlier on Monday in Brussels. The agreement also includes plans for the EU to send around €9 billion in immediate liquidity, Michel revealed.
This comes after Ukrainian President Volodymyr Zelenskyy called an oil embargo the key point to any sanctions passage. Meanwhile, Washington was cautiously regarding weapons for Ukraine. The invaded country has received extensive military aid from the US, with a mother $40 billion assistance approved for May.
US President Joe Biden however revealed that he would not send rocket systems which could Russian territory, despite urgent requests from Kyiv to do so.
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