Introduced alongside an EU embargo on seaborne deliveries of Russian crude oil, the cap aims to ensure Russia cannot bypass the embargo by selling its oil to third countries at high prices. Russia has said the cap will not affect the Ukraine offensive and expressed confidence it would find new...
Ukraine welcomes Russian oil price cap agreed by EU, G7
Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy" Russia's economy. The price cap, previously negotiated on a political level between the G7 group and the European Union, will come into effect with an EU embargo on Russian crude...
Bosphorus sea trade remains undaunted by Ukraine war
At the gates of the Black Sea, trade is in full swing as freighters and oil tankers sail from the heart of Istanbul to Russian and Ukrainian ports.
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted by some member states that rely on Russian oil to keep their economies running and are seeking guarantees of alternative sources.European Union shores up defense against Russia energy threats
European Union ministers met Monday to respond to Russia cutting gas supplies to Poland and Bulgaria -- and discuss plans for a possible oil embargo to punish Moscow for invading Ukraine. The energy ministers from the 27 member states were coordinating efforts to counter what Brussels has branded the Kremlin's...
EU approves Russia coal embargo, proposes more arms to Ukraine
The European Union on Thursday said it had approved an embargo on Russian coal and the closing of the bloc's ports to Russian vessels over the Ukraine war. An official from the French presidency of the European Council said the moves spearhead a "very substantial" fifth round of sanctions against...
