Last night, Monday May 30, 2022, EU leaders agreed to ban the 90% of Russian oil import by the end of the year.
All 27 members of the EU agreed to reduce the Russian oil import to two third at the meeting in Brussels.
The measure is part of the sixth package of EU sanctions that has been approved in Brussels and all 27 members agreed.
“Russia has chosen to continue its war in Ukraine. Tonight, as Europeans, united and in solidarity with the Ukrainian people, we are taking new decisive sanctions. We have decided to stop importing 90% of Russian oil by the end of 2022,” president of France, Emmanuel Macron tweeted.
The news comes as France imports 24% of oil that it needs from Russia, and the EU imports 40% of its gas from Russia.
It is not clear that which country can be the alternative for the EU to import oil and gas from to keep the balance of price of energy.