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Ukraine Latest: EU Backs Partial Russian Oil Ban, Crude Advances

Bloomberg business news
WATCH: Ukrainian President Volodymyr Zelenskiy presented medals to Ukrainian service personnel on Sunday during a trip to the Kharkiv region.Source: Bloomberg
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European Union leaders agreed to pursue a ban that would halt the imports of most Russian oil, in a move designed to hit the country’s coffers and pave the way for a sixth package of sanctions to punish it and President Vladimir Putin for the invasion of Ukraine.

Oil headed for the longest run of monthly gains in more than a decade on the EU’s move that was reached during a leaders’ summit in Brussels. Members overcame objections from Hungary, which had been blocking an embargo as it sought assurances its energy supplies wouldn’t be disrupted.