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Tuesday, 31 May 2022 (YJC)_ The President of the Council of Europe announced that on the first day of the EU summit, member states had agreed to boycott at least two-thirds of oil imports from Russia.
A senior European official announced Tuesday morning that a consensus had been reached after two EU countries failed to agree on a ban on oil imports from Russia.
Council of Europe President Charles Michel said in a Twitter message that EU member states had agreed to boycott most oil imports from Russia.
Michelle explained in the statement:
An agreement was reached to ban Russian oil imports to the European Union. This immediately covers more than two-thirds of Russia's oil imports and reduces its huge source of funding for its war machine.
He also added:
This is the maximum pressure on Russia to end the war. The sanctions package includes other austerity measures, including the severance of Swarbank as Russia's largest bank through Swift, a ban on two Russian state-owned networks, and sanctions on those responsible for war crimes in Ukraine.
According to AFP, the President of the Council of Europe also announced that the Union has allocated 9 billion euros for immediate cash assistance to Ukraine.
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