WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-a-barrel price cap for Russian oil, a key step as Western sanctions aim to reshape the market world oil to prevent price spikes and deprive President Vladimir Putin of funding for his war in Ukraine. Europe …
G-7 joins EU on $60 a barrel price cap for Russian oil Read More »
BRUSSELS (AP) – The European Union was closing in on setting a price cap of $60 a barrel for Russian oil – a long-awaited and complex political and economic maneuver designed to keep Russia supplied to world markets while limiting President Vladimir Putin’s ability to fund his war in Ukraine. EU countries sought to push …
London CNN Business — Ukraine’s allies want to put a price cap on Russian oil. But there’s a problem: they can’t agree on a figure that would put pressure on the Kremlin. The biggest Western economies agreed earlier this year to cap the price of Russia’s most valuable export and pledged to work out the …
West struggles to set oil price cap that hurts Russia | CNN Business Read More »
Moscow CNN — November and December are known as the most depressing months in Moscow. The days are short and dark, and the weather is too cold and wet to be outdoors much, but still too hot and rainy to enjoy the true Russian winter. This year, the sense of gloom is heightened by the …
Agathe Demarais is director of global forecasts at the Economist Intelligence Unit. His new book on the effects of US sanctions, “Backfire”, will be released next week. Russia has turned energy supply into an economic weapon. The strategy is evident in Ukraine, where Russian drones and missiles bomb power plants. But it’s also evident in …
