Europe weighs freezing Russia’s oil price cap as the Iran war threatens to loosen it
Brussels could override the automatic formula that would otherwise let the ceiling jump from $44.10 to at least $65 a barrel in July, Bloomberg says.
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In the same week, Russia fired 1,550 drones and 1,260 bombs at Ukraine — sanctions relief let it sell more oil to pay for them, Kyiv says
Zelenskyy is calling for shadow fleet tankers to be stopped in European waters, not escorted through.
Canada sends 449 armored vehicles to Ukraine, allocates $1.6 bn in military aid on all-out war’s 4th anniversary
Ottawa also extended its military training mission through 2029 and sanctioned 100 Russian shadow fleet vessels.
Iran de-escalation sends oil down 5%, squeezing Russia’s war funding (INFOGRAPHIC)
Moscow’s January revenues could hit their lowest since late 2022.
Desperate for buyers, Russia throws India its biggest oil discounts yet (INFOGRAPHIC)
The price gap more than doubled in a month, from $3 to $7 per barrel.
As sanctions bite, Russia’s war chest nears empty by Christmas
The Russian economy is not collapsing, but it is stagnant and suffering high inflation. And this economic decline could be a tipping point, because Russia may run out of liquid reserves, prompting the Kremlin to cut public expenditures.
Switzerland slashes Russian oil price cap to $ 47.6 in new EU sanctions package
Switzerland cut the price ceiling on Russian oil to $47.6 per barrel and banned 105 third-country vessels as part of the EU's 18th sanctions package.
Canada joins EU and UK in slashing Russian oil price cap to $47.60 — Japan and US stay out for now
The new coordinated move aims to choke Russian crude profits without disrupting markets. Moscow uses the export revenues to fund its war in Ukraine.
Politico: Middle East tensions derail EU plan to slash Russian oil price cap aimed at squeezing war funding
The proposed reduction from $60 to $45 per barrel was originally included in the EU's 18th sanctions package expected for adoption in June but abandoned after G7 countries agreed the timing was inappropriate as "the situation is too volatile."
Bloomberg: US blocks EU and UK push to cut Russian oil price cap to $45
Washington’s stance may complicate European efforts to target Russia’s oil revenues.
Russia may bring war to NATO’s doorstep and further if Europe abandons Moldova and Ukraine, says Zelenskyy
The Ukrainian leader says that without strong measures Russia could reach Romania's frontier.
Reuters: US plans new sanctions on Russia’s “shadow fleet”
Washington prepares comprehensive sanctions targeting vessels and networks involved in circumventing price restrictions on Russian petroleum exports.
Reuters: EU plans stricter Russian sanctions enforcement amid Trump comeback concerns
European officials are developing mechanisms to ensure long-term Russian sanctions effectiveness, preparing for possible US policy shifts under a potential Trump presidency.