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EU, G7 and Australia limit the price of Russian oil to cut off resources from the war in Ukraine

OPEC+ will meet on Sunday to decide whether to maintain its strategy or further cut oil production in the face of falling prices, as well as discuss capping the price of a Russian barrel and a European oil embargo on that country. | Font: AFP

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European Union (Europe), countries G7 D Australia They imposed a price ceiling on Russian oil to limit the resources to invade Ukraine, which has been largely deprived of electricity and heat through bombings that Russian President Vladimir Putin considers “necessary and unavoidable.”

The European agreement reached on Friday in Brussels, which was later joined by the United States, Britain, Italy, France, Germany, Japan and Canada (G7), as well as Australia, imposes a limit of $60 per barrel of oil exported by Russia. and will enter into force on Monday, along with the embargo of 27 countries of the bloc on Russian oil.

This measure also applies to policies signed by shipping companies with European insurers, which control most of this market.

Europe As such, he seeks to limit the revenue generated by Russia, the world’s second-largest oil exporter, through its exports to countries such as China and India.

The European bloc intends to use this arsenal of initiatives, which are added to the embargo imposed by the United States and Canada on Russian oil a few months ago, to reduce funding for the war in Ukraine.

In recent weeks, Russian bombing has focused on the country’s energy infrastructure in retaliation for Moscow’s military setbacks.

The latest attack took place on November 23, leaving millions of Ukrainians without electricity and water as winter begins to hit hard.

Vladimir Putin
Last week, Vladimir Putin warned of the “serious consequences” of any attempt to cap oil prices in his country. | Font: AFP

“inevitable” explosions

Putin assessed that these explosions had become “necessary and inevitable in the face of provocative attacks in Kiev,” the Kremlin said in a report on a telephone conversation between the Russian president and German Prime Minister Olaf Scholz.

According to Putin, Kyiv is responsible for the explosions that partially destroyed the Russian bridge in Crimea, and therefore Moscow has the right to bomb Ukraine’s energy infrastructure.

Ukrainian authorities warned last Monday that they were expecting a new wave of Russian bombings.

“It is necessary to find a diplomatic solution as soon as possible, which implies the withdrawal of Russian troops,” Scholz said during a telephone conversation, according to the German Foreign Ministry.

Putin, who launched an offensive on February 24, again complained about Western financial and military support for Ukraine, which allowed Kyiv troops to inflict humiliating defeats on Russia.

Russian troops were to withdraw from the north of the country in April, from part of the northeast in September, and from part of the south in November.

The Western position is “destructive” due to Western political, financial and military support, “Kyiv rejects the idea of ​​any negotiations,” the Kremlin said.

Concert with LED candles

US President Joe Biden said on Thursday he was “ready to talk” with Putin, but only if the Russian leader finds “a way to end the war” and withdraw his troops from the country.

Kremlin spokesman Dmitry Peskov said Russia rejected the terms. “The special military operation will continue,” he said, using the official Russian terminology for an offensive in Ukraine.

The White House clarified Biden’s conditional offer on Friday: “He does not intend to talk to Mr. Putin at this time,” because “Putin has shown absolutely no inclination to be interested in any dialogue. In fact, just the opposite.” National Security Adviser John Kirby said.

Ukraine rejects any talks with Putin unless its territorial integrity, which includes the Crimean peninsula, which was annexed by Moscow in 2014, is respected.

Residents try to live as normal as possible. A concert of classical music was organized in the capital, the stage was illuminated by 600 LED candles.

“We thought saving energy was a good idea,” Irina Mykolaenko, one of the concert organizers, told AFP.

“We want to bring inspiration, light and love to people who are in (…) a difficult situation, and tell people that we are not defeated,” he added.

(AFP)


Source: RPP

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