The UK, in coordination with the EU, has reduced the price cap on Russian crude oil from $60 to $47.6 per barrel to increase economic pressure on Moscow.
The United Kingdom has announced a reduction in the price cap on Russian crude oil, lowering it from $60 to $47.6 per barrel. The move, taken in coordination with the European Union, aims to further restrict Russia’s oil revenues and intensify economic pressure on Moscow.
According to a statement by the UK Foreign Office, the new cap directly targets a key source of income for Russia. The goal is to drive down the market value of Russian crude and cut into the country’s financial resources.
UK Chancellor of the Exchequer Rachel Reeves said the decision to lower the cap would help undermine Russia’s oil revenues while maintaining stability in global energy markets. “This step will increase pressure on Russia while protecting energy market stability,” she stated.
Foreign Secretary David Lammy added that the international community could not remain passive while "Putin continues to delay peace negotiations."
The EU also unveiled its latest sanctions package on the same day, confirming a shift in its own cap policy. The bloc announced a dynamic mechanism to set the price cap at 15% below the average market rate, which will now translate into the same $47.6 per barrel figure.
Both the UK and EU are tightening restrictions on Russian energy exports as part of a broader strategy to limit the Kremlin's capacity to fund its ongoing military operations.
Kazakhstan has released an interim report into the Azerbaijan Airlines plane crash near Aktau that killed 38 people, saying damage to the aircraft was...
Ukraine has held an hour-long meeting with senior U.S. envoys on possible peace options to end the war with Russia, President Volodymyr Zelenskyy said...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 26th of December, covering the latest developments you need to...
Missile development in North Korea is set to continue over the next five years. The country’s leader Kim Jong Un made the remarks during visits to m...
Widespread flash flooding and mudflows have hit Southern California after heavy rain, prompting evacuation orders and warnings for motorists to stay o...
Georgia's Parliament Speaker Shalva Papuashvili has accused Brussels of using visa policy as a political weapon rather than a technical instrument.
Current security challenges and ongoing geopolitical shifts were the focus of the annual Georgia Ambassadors' Conference taking place from 22 - 25 December in Tbilisi.
As the year comes to a close, questions remain about the sustainability of European Union support for Ukraine. Political analyst Orkhan Nabiyev, speaking to AnewZ from Baku, expressed confidence that EU backing will hold firm into 2026.
The European Union has released €2.3 billion in financial aid to Ukraine to support urgent social and civil infrastructure needs. According to political analyst Orkhan Nabiyev, this move reflects the EU’s assessment that a peace deal with Russia is unlikely in the near future.
A majority of Russians expect the war in Ukraine to end in 2026, state pollster VTsIOM said on Wednesday, in a sign that the Kremlin could be testing public reaction to a possible peace settlement as diplomatic efforts to end the conflict intensify.
Military representatives from Cambodia and Thailand met in Chanthaburi province on Wednesday ahead of formal ceasefire talks at the 3rd special GBC meeting scheduled for 27th December.
In 2025, Ukraine lived two parallel realities: one of diplomacy filled with staged optimism, and another shaped by a war that showed no sign of letting up.
It’s been a year since an Azerbaijan Airlines plane crashed near Aktau, Kazakhstan, killing 38 people. Relatives and loved ones mourn the victims, as authorities near the final stage of their investigation.
The White House has instructed U.S. military forces to concentrate largely on enforcing a “quarantine” on Venezuelan oil exports for at least the next two months, a U.S. official told Reuters, signalling that Washington is prioritising economic pressure over direct military action against Caracas.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 26th of December, covering the latest developments you need to know.
Missile development in North Korea is set to continue over the next five years. The country’s leader Kim Jong Un made the remarks during visits to major arms production facilities in the final quarter of 2025, the state news agency KCNA reported on Friday.
The United States carried out a strike against Islamic State militants in northwest Nigeria at the request of Nigeria's government, President Donald Trump and the U.S. military said on Thursday.
Former Brazilian President Jair Bolsonaro on Thursday announced his support for his son Flavio Bolsonaro’s 2026 presidential candidacy while recovering from a planned hernia operation, which doctors said went smoothly.
Ukraine has held an hour-long meeting with senior U.S. envoys on possible peace options to end the war with Russia, President Volodymyr Zelenskyy said on Telegram on Thursday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment