BRUSSELS — The European Union’s embargo on seaborne Russian crude and the Group of Seven’s oil worth cap go into impact Monday, sending oil markets into uncharted territory because the West seeks to hit Russia’s oil income with out creating worth spikes.
Washington
Ukraine live briefing: Russia defiant as oil price cap and embargo go into effect
Western nations have agreed to cap the worth of Russian oil at $60 a barrel, beginning Monday, after months of tense negotiations. Russia has accused america and its allies of the worth cap for political causes and has mentioned it’s keen to chop manufacturing reasonably than promote oil that’s topic to the cap. It stays to be seen whether or not the transfer will sluggish the Kremlin’s struggle effort, with the worth fastened at near present ranges. Right here’s the most recent on the struggle and its ripple results throughout the globe.
4. From our correspondents
Ukraine permits perilous Dnieper River crossings to flee Russian occupation. Ukrainian officers introduced Saturday that they might be lifting a ban on crossing the Dnieper River, encouraging residents on the occupied jap financial institution to flee to the not too long ago liberated southern metropolis of Kherson, regardless of the hazard, in a doable signal that Ukraine’s offensive might proceed to push east.
To this point, few have taken up the supply to flee, write Samantha Schmidt and Serhii Korolchuk. The route is perilous: a 65-year-old lady, trying to cross the river by boat alongside her husband, died underneath gunfire Sunday, in response to a press release launched by the Kherson Metropolis Council.
Russian forces have battered Kherson with shelling in current days from firing positions on the east facet of the river.
Timsit reported from London and Pannett from Sydney. Maham Javaid in Washington and Natalia Abbakumova in Riga contributed to this report.