EU leaders say they will block most Russian oil imports by the end of 2022 to punish Moscow for invading Ukraine.
The EU-wide ban will affect oil that arrives by sea – around two-thirds of imports – but not pipeline oil, following opposition from Hungary.
Poland and Germany have also pledged to end pipeline imports, meaning a total of 90% of Russian oil will be blocked.
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.
Russia currently supplies 27% of the EU’s imported oil and 40% of its gas. The EU pays Russia around €400bn ($430bn, £341bn) a year in return.
So far, no sanctions on Russian gas exports to the EU have been put in place, although plans to open a new gas pipeline from Russia to Germany have been frozen.
The UK – which gets 8% of its oil needs from Russia – has pledged to phase out Russian oil by the end of the year.
Oil prices climbed on news of the EU embargo, with Brent crude rising above $123 a barrel, its highest level since March.
What is in the EU’s sixth set of sanctions?
- Russian seaborne oil to be banned by the end of the year, with a temporary exemption for pipeline oil. Two-thirds of Russian oil arrives by sea
- Pledges by Poland and Germany to stop importing pipeline oil will raise coverage of the ban to 90% of Russian imports
- Russia’s largest bank, Sberbank, to be cut off from the Swift payment system, which allows the rapid transfer of money across borders
- Three more Russian state-owned broadcasters banned
- More restrictions on “individuals responsible for war crimes in Ukraine”
Powerball winning numbers for Monday, Dec. 12, 2022; jackpot $124 million
Winning numbers were selected in the Monday, Dec. 12, 2022, Powerball drawing, with the jackpot at an estimated $124 million. The winning numbers are 16-31-50-55-61 Powerball 9 Power Play 4. The Classic Lotto numbers are 1-3-4-16-17-47 Kicker 206288. The jackpot...
Northeast Ohio Monday weather forecast: Rain and snow showers possible
Chilly weather kicks off the work week in Northeast Ohio, with chances of both snow and rain showers on Monday. The National Weather Service says the best chances for snow showers are before 11 a.m., with temperatures in the mid-30s. It will be cloudy throughout the...
Mega Millions jackpot is $400 million; Sunday’s Ohio Lottery results
There was no winner in the Mega Millions drawing for Friday, Dec. 9, 2022, allowing the jackpot to increase to $400 million. Friday’s numbers are 8-19-53-61-69 Megaball 19 Megaplier 4x. The next drawing is Tuesday, Dec. 13. The Saturday, Dec. 10 Powerball drawing also...
COVID-19 hospitalizations, deaths increase among older adults
Coronavirus-related hospital admissions are climbing again in the United States, with older adults a growing share of U.S. deaths and less than half of nursing home residents up to date on COVID-19 vaccinations. These alarming signs portend a difficult winter for...
UK, Italy and Japan team up for new fighter jet
Rishi Sunak is set to announce a collaboration between the UK, Italy and Japan to develop a new fighter jet that uses artificial intelligence. The prime minister says the joint venture aims to create thousands of UK jobs and strengthen security ties. The nations will...
Submit your event
We will be happy to share your events. Please email us the details and pictures at publish@profilenewsohio.com
Address
P.O. Box: 311001 Independance, Ohio, 44131
Call Us
+1 (216) 269 3272
Email Us
Publish@profilenewsohio.com