G7, EU agree Russia oil price cap to deny Moscow funds for Ukraine ‘war machine’


oil pump petroleum gas(Worthy News) – The G7 and EU on Friday agreed a $60-per-barrel price cap on Russian oil in an attempt to deny the Kremlin of war resources, as President Vladimir Putin said more strikes on Ukrainian infrastructure were “inevitable.”

The price cap, previously negotiated on a political level between the G7 group of wealthy democracies and the European Union, will come into effect with an EU embargo on Russian crude oil from Monday.

The embargo will prevent shipments of Russian crude by tanker vessel to the EU, which account for two thirds of imports, potentially depriving Russia’s war chest of billions of euros. [ Source: Times of Israel (Read More…) ]

15
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

Appeals Court Hears Arguments In Religous Contraception Case
Hegseth Set To Visit Israel As Iran Crisis Deepens, F-35 Turkey Debate Alarms Jerusalem
U.S. Strikes Iran After Tankers Hit In Strait Of Hormuz, Revokes Oil Waiver
Iran Fires Missiles at Commercial Ships After Funeral Crowds Chant ‘Death to Trump’ and ‘Death to Bibi’
Prosecutors Begin Death Penalty Case Against Accused Killer of Christian Conservative Activist Charlie Kirk
Marine Le Pen Cleared to Seek 2027 French Presidency, But Electronic Bracelet Could Halt Campaign
China’s Pacific Missile Test Draws Condemnation From U.S. and Regional Allies
NATO Unveils Major Arms Deals as Trump Presses Allies on Defense Spending
Platner To ‘Reflect’ On Senate Bid Amid Sexual Assault Allegations
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News