(BREAKING): Oil Price Cap Slashed To Wreck Russia’s Economy
Asia, Latest Headlines Saturday, December 3rd, 2022
(AFRICAN EXAMINER) – International Oil price has been slashed in a bid to hurt Russian economy amid Ukraine invasion.
Russia said it will continue to find buyers to sell its oil despite “dangerous” price caps after G7 nations, Australia, and the European Union agreed to cap the price of Russian seaborne oil at $60 a barrel.
The price cap should be $30 per barrel “to destroy the enemy’s economy quicker”, a senior Ukraine official said.
Officials in the southern region of Kherson announced they would help citizens evacuate from parts of Russian-occupied territory on the east bank of the Dnipro River during intensified fighting.
Russia is likely planning to encircle the eastern Donetsk region’s town of Bakhmut with tactical advances to the north and south, Britain’s defence ministry said.
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