European Union agrees to ban most Russian oil imports

European Union President Charles Michel announced Monday that the EU will implement a partial ban on Russian oil, more than three months after Russian forces invaded Ukraine. 

"This immediately covers more than 2/3 of oil imports from Russia, cutting a huge source of financing for its war machine," Michel posted on Twitter, adding "Maximum pressure on Russia to end the war."

The ban only targets Russian oil brought by sea and has a temporary exemption for pipeline imports.

The EU will also implement sanctions on Russia including "de-Swifting the largest Russian bank Sberbank, banning 3 more Russian state-owned broadcasters, and sanctioning individuals responsible for war crimes in #Ukraine," Michel tweeted.

The passage of the sanctions were delayed by Hungary, after Prime Minister Viktor Orban said he would only support the new measures if Hungary's oil supply would be guaranteed, The Associated Press reported.

Hungary recieves more than 60% of its oil from Russia.