Ukraine war: EU, G7 agree to cap price on Russian oil at $60/barrel | Oneindia News *International
Video Credit: Oneindia - Duration: 03:03s - Published
Ukraine war: EU, G7 agree to cap price on Russian oil at $60/barrel | Oneindia News *International
The European Union, Group of Seven(G7) Nations and Australia have agreed to put a price cap of $60 per barrel on Russian seaborne crude oil as part of an international campaign to curb Russia’s ability to finance its war against Ukraine through energy sales.
Let us see what impact would this price cap have on the market.
President Zelenskyy and EU leaders discussed Kyiv's candidacy to join the bloc and Russian sanctions at the unprecedented wartime gathering in the Ukrainian capital.
Credit: euronews (in English) Duration: 01:18Published
EU Promises to , Double Military Aid , for Ukraine.
'The Guardian' reports that
the European Union has promised to
double its military aid program for Ukraine. .
According to European Commission President
Ursula von der Leyen, the EU will train an additional 15,000 soldiers
as part of its effort to show ongoing support for Ukraine.
According to European Commission President
Ursula von der Leyen, the EU will train an additional 15,000 soldiers
as part of its effort to show ongoing support for Ukraine.
Von der Leyen also announced that the EU will put in place
a tenth package of sanctions against Russia by the anniversary of Russia's invasion of Ukraine, February 24.
Von der Leyen also announced that the EU will put in place
a tenth package of sanctions against Russia by the anniversary of Russia's invasion of Ukraine, February 24.
We are making Putin
pay for his atrocious war, Ursula von der Leyen,
European Commission president,
via 'The Guardian'.
We are making Putin
pay for his atrocious war, Ursula von der Leyen,
European Commission president,
via 'The Guardian'.
Today Russia is paying a heavy price as
our sanctions are eroding its economy,
throwing it back by a generation, Ursula von der Leyen,
European Commission president,
via 'The Guardian'.
Ukrainian President Volodymyr Zelenskyy
stressed the need for a joint effort to curb
Russia's circumvention of sanctions.
The more we do it, the closer we will
be to defeat of Russian aggression, Volodymyr Zelenskyy , President of Ukraine, via 'The Guardian'.
'The Guardian' reports that Von der Leyen
also reiterated the EU's intention to , "keep on turning up the pressure.".
The EU plans to cap the price of Russian
petroleum products as part of a G7 plan
to restrict the Kremlin's oil revenues. .
'The Guardian' reports that
the EU's 27 member states have yet
to agree on the latest proposed oil cap. .
'The Guardian' reports that
the EU's 27 member states have yet
to agree on the latest proposed oil cap.
Credit: Wibbitz Top Stories Duration: 01:31Published
Putin told Recep Tayyip Erdogan that he was open to dialogue with Ukraine if Kyiv accepts territories occupied by Moscow as Russian; Funeral of ex-Pope Benedict XVI held, coffin taken to be buried; UK’s Prince Harry alleges brother William attacked him: Report; Russia sends more Arctic oil to China and India after sanctions by EU and G7 nations.
#VladimirPutin #RussiaUkraineWar #PopeBenedictXVI
Trade sources and data revealed that Russia is sending more crude oil produced in the Arctic region to China and India, and at steeper discounts. This comes after Europe put heavy sanctions on Russian supplies last month. As per reports, Arctic grades Arco, Arco/Novy Port and Varandey do not usually come to the East. But reportedly they are now doing supplying further afield after the European Union, G7 nations and Australia introduced a price cap on Russian oil in December, on top of an EU embargo on Russian crude by sea.
#RussianOil #Sanctions #EU
Western Sanctions Are, Paying Off As Russian Oil , Revenues Fall.
According to the International Energy Agency,
Russian oil revenues fell in November despite a boost
in production to just below levels prior to the Ukraine invasion.
'The Guardian' reports that the falling revenue
is a sign that Western sanctions and other efforts
to cut off Russia's income have been successful. .
'The Guardian' reports that the falling revenue
is a sign that Western sanctions and other efforts
to cut off Russia's income have been successful. .
In November, the IEA estimated
that Russia earned just
$15.8 billion from oil sales. .
That is the second-lowest monthly
earnings Russia has reported this year
after bringing in just $14.7 billion in September.
The dipping revenue report comes despite Russia
increasing its export of crude oil to 8.1 million
barrels per day, its highest level since April.
In December, the EU and G7 introduced
a $60-a-barrel price cap on Russian oil.
On December 14, the price
of non-Russian oil had climbed
to about $81 a barrel.
President Vladimir Putin has said the cap will
not have a significant impact on Russia’s economy
but could harm the international energy market.
President Vladimir Putin has said the cap will
not have a significant impact on Russia’s economy
but could harm the international energy market.
Putin has also warned that the cap
may force Russia to cut production.
While lower oil prices come as
a welcome relief to consumers faced
by surging inflation, the full impact
of embargoes on Russian crude and
product supplies remains to be seen, International Energy Agency, via 'Newsweek'.
While lower oil prices come as
a welcome relief to consumers faced
by surging inflation, the full impact
of embargoes on Russian crude and
product supplies remains to be seen, International Energy Agency, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
U.N. Warns , Russia's War on Ukraine , Could Lead to World War.
On February 6, United Nations Secretary General
Antonio Guterres warned that the Russian-Ukraine war
has the potential to become a broader world conflict.
On February 6, United Nations Secretary General
Antonio Guterres warned that the Russian-Ukraine war
has the potential to become a broader world conflict.
'Newsweek' reports that Guterres issued
the warning while addressing U.N. member
nations about the state of the world in 2023.
Guterres reportedly referenced the "Doomsday Clock,"
which represents humanity's threat of facing global
catastrophe by the amount of time to midnight.
This year, the clock now sits at 90 seconds to midnight,
ten seconds closer than it was in January of 2020,
and the closest it has been since its creation in 1947.
This year, the clock now sits at 90 seconds to midnight,
ten seconds closer than it was in January of 2020,
and the closest it has been since its creation in 1947.
The Science and Security Board of the Bulletin of the Atomic
Scientists, which annually sets the clock, cited Russia's invasion
of Ukraine, climate change and persistent nuclear threats. .
The Science and Security Board of the Bulletin of the Atomic
Scientists, which annually sets the clock, cited Russia's invasion
of Ukraine, climate change and persistent nuclear threats. .
'Newsweek' reports that Guterres addressed his fears of
escalation in the Russian war on Ukraine, warning that it
has the potential to draw the world into a broader conflict.
The Russian invasion of Ukraine
is inflicting end-all suffering on
the Ukrainian people with
profound global implications. , Antonio Guterres, United Nations Secretary General, via 'Newsweek'.
The prospects for peace
keep diminishing. The chances
of further escalation and
bloodshed keep growing. , Antonio Guterres, United Nations Secretary General, via 'Newsweek'.
I fear the world is
not sleepwalking
into a wider war. , Antonio Guterres, United Nations Secretary General, via 'Newsweek'.
I fear it's doing so with
its eyes wide open, Antonio Guterres, United Nations Secretary General, via 'Newsweek'
Credit: Wibbitz Top Stories Duration: 01:31Published
Military analysts say the Kremlin’s forces may be probing Ukrainian defences for weak points or could be making a feint while preparing for a main thrust through southern Ukraine.
Credit: euronews (in English) Duration: 01:16Published
After two powerful earthquakes in less than 24 hours, another quake of magnitude 6.0 struck central Turkey on Monday; Russia 'recruiting female prisoners' to contribute to Ukraine war, suggests report; Beijing confirms balloon flying over Latin America is Chinese; US-China relations sour; Taiwan’s opposition party KMT's senior leader Andrew Hsia to meet China's Song Tao; Vladimir Putin promises not to end Volodymur Zelenksy, claims former Israeli PM Naftali Bennett.
#Turkiye #ThirdEarthquake #TurkiyeEarthquake
Former Israeli PM Naftatli Bennett in a recent interview has said that Russian President Vladimir Putin promised him that he will not Kill Ukrainian President Volodimir Zelenksy.
#Zelenksy #Putin #UkraineRussiaWar
Efforts to cap Russian gas and maintain an EU embargo are going to be expensive for Europe and unlikely to harm Putin, where sanctions because of Ukraine have universally backfired. Emmanuel Macron has..
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