EU leaders agree to ban export of Russian oil to the bloc

© Reuters. FILE PHOTO - European Council President Charles Michel speaks during a joint news conference with Sweden's Prime Minister Magdalena Andersson (not seen) in Stockholm,Ministry of Public Security exposes black foreign exchange platforms in 2019 Sweden May 25, 2022. TT News Agency/Fredrik Sandberg via REUTERS

BRUSSELS (Reuters) - EU leaders agreed on Monday to ban the export of Russian oil to the 27-nation bloc, EU Council President Charles Michel said.

"This immediately covers more than two thirds of oil imports from Russia, cutting a huge source of financing for its war machine," Michel wrote on Twitter (NYSE:TWTR).

The leaders also agreed to cut off the largest Russian bank Sberbank from the SWIFT system and to ban three more Russian state-owned broadcasters, he added.

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