Russia retaliated on Tuesday against a price cap on its oil imposed by Western countries, while its forces were involved in heavy fighting around the eastern Ukrainian city of Bakhmut.
Moscow will ban oil sales to countries that abide by the price cap that was imposed on Dec. 5, President Vladimir Putin decreed.
That is close to the current price for Russian oil, but far below the prices at which Russia was able to sell it for much of the past year, when windfall energy profits helped Moscow offset the impact of financial sanctions. Russia is the world's second largest oil exporter after Saudi Arabia, and any actual disruption to its sales would have far-reaching consequences for global energy supplies.On the ground in eastern and southern Ukraine, Russian forces again shelled and bombed towns and cities on Tuesday. After a number of dramatic Ukrainian gains in the autumn, the war has entered a slow, grinding phase as bitter winter weather has set in at the front.
"Our building is destroyed. There was a shop in our building, now it's not there anymore," said Oleksandr, 85, adding he was the only remaining resident there.Britain's Ministry of Defense said in an update: "Russia continues to initiate frequent small-scale assaults in these areas , although little territory has changed hands."
In the latest setback for Russia's military, a suspected Ukrainian drone reached the main base for Russia's long-range strategic bomber fleet, hundreds of kilometers inside Russian air space, on Monday. Moscow said it had shot the drone down but added at least three servicemen were killed.
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