Latest news with #G7-imposed
Shafaq News
4 days ago
- Politics
- Shafaq News
Zelensky: Russia launched massive Ukraine strike
Shafaq News – Kyiv/Moscow Russia launched one of its heaviest aerial assaults in months overnight, deploying more than 300 Iranian-made drones and 30 missiles across at least ten Ukrainian regions, Ukrainian President Volodymyr Zelensky reported on Saturday. On X, Zelensky detailed extensive destruction, noting that Sumy in the northeast sustained major infrastructure damage and widespread blackouts, while Shostka faced what he described as 'combined strikes' involving both drones and missiles. The strikes also hit Donetsk, Kirovohrad, Dnipro, Kherson, Volyn, Zaporizhzhia, Mykolaiv, Odesa, and Zhytomyr. Ukraine's Air Force said drone interceptions were still underway in the morning as emergency crews responded across multiple sites. In Odesa, drones set fire to a residential building, killing one person and injuring six, including a child. Mayor Hennady Trukhanov reported at least 20 drones struck the city, adding on Telegram that 'emergency services are operating on high alert.' Meanwhile, Russia claimed Ukrainian drones had breached its airspace. The Defense Ministry asserted it shot down 87 drones across several regions. Moscow Mayor Sergei Sobyanin confirmed that 13 were intercepted near the capital. The escalation came hours after the European Union approved its 18th sanctions package against Moscow—its toughest yet. Initially blocked by Slovakia, the measures passed following a compromise on energy policy and gas import cuts. Key provisions include slashing the G7-imposed price cap on Russian crude from $60 to $47.60 per barrel, aiming to choke off export revenue and squeeze Russia's war economy. The Kremlin denounced the sanctions in its first official reaction, calling them part of the EU's 'consistent anti-Russian line.'
Miami Herald
12-06-2025
- Business
- Miami Herald
Europe Can Bypass Trump to Hit Putin's Oil Empire: Kallas
The European Union may not need the Trump administration's support for its proposal to lower a price cap on Russian oil, the bloc's foreign policy chief has said. The comments by EU High Representative Kaja Kallas followed Brussels' latest sanctions package that included proposing to lower a G7-imposed price cap on seaborne Russian oil from $60 to $45, to curb funding for Vladimir Putin's military machine. Putin's spokesman Dmitry Peskov said lowering this price cap would not help stabilize global energy markets. Newsweek has contacted the White House for comment. To cut export revenues for Moscow, the European Commission on Tuesday proposed to lower the G7-imposed price cap on Russian seaborne crude oil from $60 a barrel to $45. This was among the EU's latest sanctions proposals to force Putin to the negotiating table to end the war he started in Ukraine, a package that needs the backing of all 27 bloc members. EU Commission president Ursula von der Leyen said changing the cap would be discussed when the G7 meets in Alberta, Canada next week but Kallas' comments suggest the EU could proceed with the measure, regardless of the U.S. On Tuesday, the EU Commission announced its 18th package of sanctions on Russia to force it to the negotiating table and curb Putin's war machine. Kallas said the package would sanction firms linked to the Nord Stream gas pipelines between Russia and Germany that have been nonoperational since 2022 following suspected sabotage attacks. The package also targets Russian businesses and banking. The EU Commission suggested any change to the oil price cap would require the backing of the G7 members as the EU also seeks to clamp down on Russia's sanctions-busting "shadow fleet" of vessels transporting the product. However, Kallas told the Brussels Forum on Wednesday that most Russian oil goes via the Baltic and Black Seas. This meant that while U.S. backing was important, if it was not forthcoming, "we can still do it and have an impact." Russia's "shadow fleet" of often older vessels with less reliable insurance, has made the $60 price cap difficult to enforce. The cap also came into force in February 2023 when oil prices were much higher, which Kallas referred to when she said the agreement was intended to be 5 percent below the market price. Kimberly Donovan from the Atlantic Council's Geoeconomics Center, said reducing the price cap to $45 is an acknowledgment that oil prices have dropped considerably and reflects a commitment to restrict Russia's ability to generate revenue. Ivan Hortal Sanchez, European Union Campaigner at Razom We Stand, a Ukrainian campaign group, told Newsweek that the EU, ideally in full alignment with the U.S. and G7, must strictly enforce the price cap and closely coordinate to sanction more vessels. He also said there should be further listings of Russian shadow fleet tankers adding that without massive oil revenues, the Kremlin will not be able to sustain its aggression against Ukraine. EU High Representative Kaja Kallas on lowering the price cap on Russian oil: "The oil going through the channels, it's mostly Europe, it's via the Baltic Sea, it's via the Black Sea. So even if the Americans are not on board, we can still do it." Kremlin spokesman Dmitry Peskov: "Such actions do not contribute to the stabilization of international energy markets and the oil market." Ivan Hortal Sanchez, European Union Campaigner at Razom We Stand: "The EU, ideally in full alignment with the USA and G7, must strictly enforce the price cap and closely coordinate to sanction more vessels." Kimberly Donovan, director of the Economic Statecraft Initiative Atlantic Council's Geoeconomics Center: "Russia still relies on revenue from oil exports, so lowering the price cap could negatively affect how much money they can bring in." "Of course, it is important the United States... is together with us, and we have been operating together for quite some time," she said, "but it is also equally important for us what we do alone, because we alone are also a player." The G7 summit will take place in Alberta, Canada from Sunday where the oil price cap and other aspects of the war in Ukraine will be discussed. Meanwhile, Brussels seems optimistic that its eighteenth sanctions package will pass although it requires the backing of all 27 EU members, and the leaders of Slovakia and Hungary have suggested they would block any further measures against Russia. Related Articles Russian War Losses Pass Grim 1-Million MilestoneEurope Delivers 'Final Nail' Into Putin Gas Empire's CoffinMette Frederiksen: Denmark's PM on Trump, Russia and Greenland's FutureMap Shows Russia's Plan to Seize Half of Ukraine 2025 NEWSWEEK DIGITAL LLC.
Newsweek
12-06-2025
- Business
- Newsweek
Europe Can Bypass Trump to Hit Putin's Oil Empire: Kallas
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The European Union may not need the Trump administration's support for its proposal to lower a price cap on Russian oil, the bloc's foreign policy chief has said. The comments by EU High Representative Kaja Kallas followed Brussels' latest sanctions package that included proposing to lower a G7-imposed price cap on seaborne Russian oil from $60 to $45, to curb funding for Vladimir Putin's military machine. Putin's spokesman Dmitry Peskov said lowering this price cap would not help stabilize global energy markets. Newsweek has contacted the White House for comment. This image from January 7, 2025 shows the oil tanker Eagle S which, thought to be part of Russia's "shadow fleet" anchored near the Kilpilahti port in Porvoo, on the Gulf of Finland. This image from January 7, 2025 shows the oil tanker Eagle S which, thought to be part of Russia's "shadow fleet" anchored near the Kilpilahti port in Porvoo, on the Gulf of Finland. ANTTI AIMO-KOIVISTO/Getty Images Why It Matters To cut export revenues for Moscow, the European Commission on Tuesday proposed to lower the G7-imposed price cap on Russian seaborne crude oil from $60 a barrel to $45. This was among the EU's latest sanctions proposals to force Putin to the negotiating table to end the war he started in Ukraine, a package that needs the backing of all 27 bloc members. EU Commission president Ursula von der Leyen said changing the cap would be discussed when the G7 meets in Alberta, Canada next week but Kallas' comments suggest the EU could proceed with the measure, regardless of the U.S. What To Know On Tuesday, the EU Commission announced its 18th package of sanctions on Russia to force it to the negotiating table and curb Putin's war machine. Kallas said the package would sanction firms linked to the Nord Stream gas pipelines between Russia and Germany that have been nonoperational since 2022 following suspected sabotage attacks. The package also targets Russian businesses and banking. The EU Commission suggested any change to the oil price cap would require the backing of the G7 members as the EU also seeks to clamp down on Russia's sanctions-busting "shadow fleet" of vessels transporting the product. However, Kallas told the Brussels Forum on Wednesday that most Russian oil goes via the Baltic and Black Seas. This meant that while U.S. backing was important, if it was not forthcoming, "we can still do it and have an impact." Russia's "shadow fleet" of often older vessels with less reliable insurance, has made the $60 price cap difficult to enforce. The cap also came into force in February 2023 when oil prices were much higher, which Kallas referred to when she said the agreement was intended to be 5 percent below the market price. Kimberly Donovan from the Atlantic Council's Geoeconomics Center, said reducing the price cap to $45 is an acknowledgment that oil prices have dropped considerably and reflects a commitment to restrict Russia's ability to generate revenue. Ivan Hortal Sanchez, European Union Campaigner at Razom We Stand, a Ukrainian campaign group, told Newsweek that the EU, ideally in full alignment with the U.S. and G7, must strictly enforce the price cap and closely coordinate to sanction more vessels. He also said there should be further listings of Russian shadow fleet tankers adding that without massive oil revenues, the Kremlin will not be able to sustain its aggression against Ukraine. What People Are Saying EU High Representative Kaja Kallas on lowering the price cap on Russian oil: "The oil going through the channels, it's mostly Europe, it's via the Baltic Sea, it's via the Black Sea. So even if the Americans are not on board, we can still do it." Kremlin spokesman Dmitry Peskov: "Such actions do not contribute to the stabilization of international energy markets and the oil market." Ivan Hortal Sanchez, European Union Campaigner at Razom We Stand: "The EU, ideally in full alignment with the USA and G7, must strictly enforce the price cap and closely coordinate to sanction more vessels." Kimberly Donovan, director of the Economic Statecraft Initiative Atlantic Council's Geoeconomics Center: "Russia still relies on revenue from oil exports, so lowering the price cap could negatively affect how much money they can bring in." "Of course, it is important the United States... is together with us, and we have been operating together for quite some time," she said, "but it is also equally important for us what we do alone, because we alone are also a player." What Happens Next The G7 summit will take place in Alberta, Canada from Sunday where the oil price cap and other aspects of the war in Ukraine will be discussed. Meanwhile, Brussels seems optimistic that its eighteenth sanctions package will pass although it requires the backing of all 27 EU members, and the leaders of Slovakia and Hungary have suggested they would block any further measures against Russia.
Mint
20-05-2025
- Business
- Mint
From weapons and oil to financial institutions: UK hits Russia with 100 sanctions as Trump-Putin call yields no progress
The United Kingdom has announced a sweeping package of 100 new sanctions against Russia, just a day after a high-stakes phone call between US President Donald Trump and Russian President Vladimir Putin failed to produce a breakthrough on a ceasefire in Ukraine. With Moscow showing no signs of de-escalation, Britain and its European allies are ramping up economic pressure in a bid to curtail Russia The latest measures include restrictions on the supply chain of Russia's military, particularly weapons systems such as the Iskander missile, which the UK says has been used indiscriminately against civilian areas in Ukraine. The UK has also sanctioned 14 additional members of the Kremlin-linked Social Design Agency (SDA), a key player in Russian disinformation campaigns. Senior SDA figures had previously been targeted in an earlier sanctions round. In a move to further cripple Russia's economic resilience, 46 financial institutions accused of helping Moscow evade previous sanctions have been added to the blacklist. The St Petersburg Currency Exchange and the Russian Deposit Insurance Agency are among those now subject to restrictions. The UK also turned its attention to the so-called 'shadow fleet' — tankers used to bypass the G7-imposed $60 per barrel oil price cap. Eighteen more ships used to transport Russian oil covertly have been sanctioned in an effort to choke off one of the Kremlin's key revenue streams. With Washington yet to act, European leaders pressed ahead. 'We have repeatedly made it clear that we expect one thing from Russia — an immediate ceasefire without preconditions,' said German Foreign Minister Johann Wadephul in Brussels. As Russia rejected that demand, Wadephul warned: 'We will have to react. We also expect our U.S. allies not to tolerate this.' European Commission President Ursula von der Leyen confirmed a further sanctions package is in the works. 'It's time to intensify the pressure on Russia to bring about the ceasefire,' she posted on X. The lack of immediate US sanctions following the Trump-Putin call has irritated European allies. France's Foreign Minister Jean-Noël Barrot declared: 'Let us push Vladimir Putin to put an end to his imperialist fantasy.' Trump, who has repeatedly promised to end the war in 24 hours if reelected, portrayed his two-hour call with Putin as progress, saying Russia and Ukraine are ready to negotiate. But officials in Kyiv and Brussels disagree. This new sanctions package is part of a broader effort by the UK and its allies to increase the cost of Russia's invasion of Ukraine, now in its third year. The move comes as European nations push for stronger international unity on the issue, amid frustration over the limited response so far from the United States. 'We urge [Putin] to agree a full, unconditional ceasefire right away so there can be talks on a just and lasting peace,' Britain's Foreign Minister David Lammy said, while calling the Russian leader a 'warmonger.' Russia, for its part, rejected the new wave of pressure. 'Russia will never bow to ultimatums,' Foreign Ministry spokeswoman Maria Zakharova said, reiterating that Moscow is willing to continue talks based on its own terms. Russia has stated that the 'ball is in Kyiv's court,' but Ukraine President Volodymyr Zelensky and European leaders remain wary, accusing Moscow of using diplomacy to delay while continuing its attacks.
Yahoo
14-05-2025
- Business
- Yahoo
EU agrees on 17th package of Russia sanctions, source says
The EU on May 14 agreed on its 17th package of sanctions against Russia, a senior EU official speaking on condition of anonymity told the Kyiv Independent. The measures target almost 200 ships of Russia's "shadow fleet," 30 companies involved in sanctions evasion, and 75 sanctions on entities and individuals linked to the Russian military-industrial complex. Russia has been using the shadow fleet to avoid Western sanctions and ship out its oil above the G7-imposed price cap. European countries have also linked the fleet to espionage and sabotage operations. The new set of steps further includes measures targeting Russia's hybrid operations, namely establishing the legal basis for countering propaganda outlets or vessels and entities involved in the sabotage of underwater cables, airports, or servers. "So, you can see the direction we are going. In addition to 'traditional' sectoral and individual sanctions, we are broadening and more actively using other sanctions to hit Russia where we see the threats or where they aim to bypass the existing sanctions," the source said. The EU will also sanction more than 20 entities and individuals disseminating disinformation, and 20 judges and prosecutors involved in legal cases against two Russian oppositionists, Vladimir Kara-Murza and late Alexei Navalny. Brussels is further imposing a ban on chemicals used in missile production. Talks on the 17th package began shortly after the EU adopted the 16th package on Feb. 24. The last package targeted the shadow fleet, financial institutions, entities involved in the Russian military-industrial complex, and more. President Volodymyr Zelensky and the leaders of the United Kingdom, France, Germany, and Poland have pledged to impose additional sanctions against Russia if the Kremlin does not accept their proposal for an unconditional 30-day ceasefire. Read also: Romania heads to historic presidential runoff as pro and anti-Ukraine candidate are neck-and-neck We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
