* The 27-nation bloc has agreed a ban covering more than two-thirds of Russian oil
* Leaders also agreed to cut off Russian bank Sberbank from the SWIFT system
* There are ambitions to ban 90 per cent of Russian oil imports by the end of 2022
* Three more Russian state-owned broadcasters have also been banned
The EU council president Charles Michel said that the 27-nation bloc agrees a ban covering more than two-thirds of Russian oil imports.
'This immediately covers more than two thirds of oil imports from Russia, cutting a huge source of financing for its war machine,' Mr 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.
Read more ....
WNU Editor: Here is an easy observation/prediction. The previous five EU sanction packages have resulted in Russian oil revenues soaring by 50%, and sending Russia's current account to all time highs. These new EU sanctions will only continue this trend .... Brent Tops $122 After EU Agrees On "Partial" Ban Of Russian Oil (Zero Hedge).
And for the EU consumer. More shortages and even higher energy prices. I can only imagine the chaos that is going to engulf Europe this winter with this crazy policy.
If this is a win in the eyes of the EU. I hate to know what they see is a loss.
EU Leaders Agree To 'Immediate' Ban 'More Than Two-Thirds' Of Russian Oil Imports, 90% By The End Of 2022
EU leaders agree to ban 90% of Russian oil by year-end -- AP
EU agrees ban on 'more than two thirds' of Russian oil imports -- France 24
Russian oil: EU agrees compromise deal on banning imports -- BBC
EU leaders agree to 'immediate' ban on 'more than two-thirds' of Russian oil imports -- DW
EU leaders agree to partial embargo of Russian oil imports -- The Guardian
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