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EU Approves Partial Russian Oil Ban, Sanctions on Sberbank

  • Bloc’s ambassadors discussed the package in Luxembourg
  • Hungary’s Orban had been blocking the sanctions for weeks
Workers fit drilling pipes on a rig at an oilfield near Almetyevsk, Tatarstan, Russia.

Workers fit drilling pipes on a rig at an oilfield near Almetyevsk, Tatarstan, Russia.

Source: Bloomberg

Updated on

The European Union approved a sixth package of sanctions including a partial ban on Russian oil imports after Hungary dropped objections that had been holding it up for weeks.

EU ambassadors meeting on Thursday backed the measures, which would represent the EU’s toughest yet and are aimed at curbing Russia’s ability to finance the war in Ukraine, France, which holds the EU presidency, confirmed on Twitter.