EU leaders agree to ban 90% of Russian oil by year-end

The new package of sanctions will also include an asset freeze and travel ban on individuals, while Russia’s biggest bank, Sberbank, will be excluded from SWIFT, the major global system for financial transfers

European Union leaders agreed on Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow (Geert Vanden Wijngaert/AP)

European Union leaders agreed on Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow.

The compromise was made at a two-day summit focused on helping Ukraine with a long-delayed package of new financial support.