Russia’s president has given his long-awaited response to the most dramatic step taken so far to limit Moscow’s ability to raise funds for its war in Ukraine.
| Russia announced on Tuesday it would ban oil sales to countries that abide by a price cap imposed this month by the West, giving its long-awaited response to the most dramatic step taken so far to limit Moscow’s ability to raise funds for its war in Ukraine.
The West’s price cap, unseen even in the times of the Cold War between the West and the Soviet Union, is aimed at crippling Russian state coffers and Moscow’s military efforts in Ukraine, without upsetting markets by actually blocking Russian supply. The heaviest fighting has been around the eastern city of Bakhmut, which Russia has been trying for months to storm at a huge cost in lives, and further north in the cities of Svatove and Kreminna, where Ukraine is trying to break Russian defensive lines.
Britain’s Ministry of Defence said in an update: “Russia continues to initiate frequent small-scale assaults in these areas , although little territory has changed hands.”Mr Putin has repeatedly spoken of a desire for peace talks in comments in recent days. But
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia bans oil exports to countries that imposed price capPutin responds to ‘unfriendly’ move by G7, EU and Australia in wake of attack on Ukraine
Read more »
Russia-Ukraine war live: Moscow admits Ukrainian drone reached air base deep inside Russia, three killedThree Russian military personnel reportedly killed when a drone attacked an airbase near Saratov, 450 miles south-east of Moscow
Read more »
Russia-Ukraine war at a glance: what we know on day 306 of the invasionExplosions heard at Russia’s Engels air base hundreds of miles from Ukraine’s front lines; Putin says west trying to ‘tear apart’ Russia
Read more »
The revenge of history in Ukraine: year of war has shaken up world orderA shared sense of national history is proving to be a crucial weapon, spurring on Ukraine resistance and Russian soldiers
Read more »
Ukraine aims for UN-backed peace summit with Russia in FebruaryAggressor must first face war crimes tribunal, says foreign minister Dmytro Kuleba, who says war will end in ‘a diplomatic way’
Read more »
Chandeliers and avatars: how conflict spawned a new lexicon in UkraineFrom terms to mock the Russian foe to those that mask the grim reality of war, new usages abound
Read more »