London (CNN Business) The European Union has agreed on a partial ban on Russian oil imports, according to European Council chief Charles Michel. "Agreement to ban export of Russian oil to the EU. This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine," Michel announced in a tweet on Monday evening. "This sanctions package includes other hard-hitting measures: de-Swifting the largest Russian bank Sberbank, banning 3 more Russian state-owned broadcasters, and sanctioning individuals responsible for war crimes in Ukraine," Michel added. The EU agreed to ban 90 percent of Russian oil imports by the end of the year, the leaders of the European Council said.

Source: CNN May 31, 2022 05:10 UTC