Why EU ban on most Russian oil is important

EU leaders gathered at a summit in Brussels to discuss the embargo on Russian oil

European Union (EU) leaders have agreed on a plan to ban more than two-thirds of Russian oil imports.

The restriction, which is also known as an embargo, means oil transported by sea from Russia will not be allowed to enter countries which are part of the EU.

However, the ban will not cover Russian oil which comes through pipelines - after opposition from Hungary.

Hungary, Slovakia and the Czech Republic all currently rely heavily on Russian oil that comes through pipelines.

Why does this matter?

European Council chief Charles Michel said the ban on Russian oil cuts off a huge source of financing for the country

The new embargo on Russian oil is a big deal as Russia makes a lot of money from exporting oil to other nations.

Charles Michel who is the chief of the European Council said the deal cut off a "huge source" of cash for Russia, which is currently at war with Ukraine.

Many countries have been showing support for Ukraine which was invaded by Russia earlier this year by punishing Russia using money and trade restrictions - making it difficult for the country to earn money and buy things - known as sanctions.

Mr Michel said the EU had also agreed hard-hitting measures targeting Russia's largest bank and three state-owned broadcasters.

Why was this so difficult to organise?

Protestors have called for EU countries to stop buying Russian oil and gas

Despite the latest action taken against Russia, it wasn't easy for EU states to reach a decision all the countries were happy with.

EU members spent hours struggling to resolve their differences over the ban on Russian oil imports, with Hungary its main opponent.

Hungary currently imports 65% of its oil from Russia through pipelines and says its people and companies would have massive problems if they just stopped that source of energy.

Hungary's Prime Minister Viktor Orban opposed the complete ban on Russian oil

The final agreement reached followed weeks of back and forth exchanges until it was decided there would be a "temporary exemption" allowing them to keep using oil that comes through pipelines, Mr Michel told reporters.

This means the immediate sanctions agreed upon will only affect Russian oil being transported into the EU over sea - which is two-thirds of the total.

The European Council will revisit the exemption "as soon as possible", she added.