European leaders reach an agreement on a Russian oil ban, a significant measure aimed at cracking down on Moscow

President of the European Commission Ursula von der Leyen, pictured here in February, said on Twitter that the EU agreed to "phase out our dependency on Russian gas, oil & coal as soon as possible."

Photo by Thierry Monasse/Getty Images

• European Union leaders reached an agreement on Monday over a Russian oil ban. 
• The significant measure is aimed at punishing Russian leadership for its invasion of Ukraine. 
• The ban will cut some 90% of oil imports from Russia to the EU by the end of 2022.

European Union leaders reached an agreement on Monday over a Russian oil ban, the head of its executive arm said on Monday, a remarkable measure that officials negotiatied for months and is aimed at punishing Russian leadership for its invasion of Ukraine. 

"I welcome the #EUCO agreement tonight on oil sanctions against Russia. This will effectively cut around 90% of oil imports from Russia to the EU by the end of the year," European Commission President Ursula von der Leyen said in a tweet on Monday.

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