The Canadian government announced Friday it will join key allies in reducing the price cap on Russian seaborne crude oil in response to Moscow’s ongoing war in Ukraine.
The Finance Department said the cap will drop from $60 to $47.60 per barrel, matching recent moves by the European Union and the United Kingdom.
Ottawa’s decision aims to target Russia’s oil revenues and tighten economic pressure on the Kremlin.
“By further lowering the price cap on Russian crude oil, Canada and its partners are ratcheting up the economic pressure and limiting a crucial source of funding for Russia’s illegal war,” Finance Minister Francois-Philippe Champagne said in a statement.
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Russia’s top foreign policy adviser has criticised recent European and Ukrainian amendments to U.S. proposals for ending the war in Ukraine, saying the changes do not increase the likelihood of peace.
The European Union stands at a crossroads: to receive new members and accelerate the enlargement process in order to strengthen its role in the international arena, or to risk strategic stagnation by delaying expansion in favor of internal reform.
The Nigerian government has confirmed the release of a further 130 schoolchildren abducted from a Catholic school in Niger State in November, completing the rescue of all pupils taken during one of the country’s largest recent mass kidnappings.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state. The decision comes amid a sustained period of settlement expansion under Israel’s far-right-led government.
The death toll from Hong Kong’s deadliest fire in decades has risen to 161, after forensic analysis confirmed one more victim among the charred remains at Wang Fuk Court in Tai Po, more than three weeks after the blaze began, authorities said on Saturday.
Israeli Prime Minister Benjamin Netanyahu is set to meet President Donald Trump on 29 December in Florida, where he is expected to present a package of military options regarding Iran, Israel’s public broadcaster KAN reported on Saturday.
The United States seized a second merchant vessel carrying oil off the coast of Venezuela in international waters on Saturday, as part of Washington’s sanctions enforcement campaign, according to the Department of Homeland Security.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
The United States has proposed a potential new format for peace talks between Ukraine and Russia, which could include American and European representatives, Ukrainian President Volodymyr Zelenskyy said on Saturday, December 20.
Russia’s top foreign policy adviser has criticised recent European and Ukrainian amendments to U.S. proposals for ending the war in Ukraine, saying the changes do not increase the likelihood of peace.
The Nigerian government has confirmed the release of a further 130 schoolchildren abducted from a Catholic school in Niger State in November, completing the rescue of all pupils taken during one of the country’s largest recent mass kidnappings.
As pollution levels in New Delhi reached dangerously high levels over the weekend, residents of the Indian capital sought refuge in the cooler, cleaner air of northern India's hill towns.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state. The decision comes amid a sustained period of settlement expansion under Israel’s far-right-led government.
Ukrainian negotiators are scheduled to hold another round of talks with U.S. officials on Sunday to discuss efforts to end the ongoing war with Russia. Top Ukrainian negotiator Rustem Umerov expressed hope for progress, highlighting that discussions have been both "constructive and substantive."
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