As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
Several G7 nations, including the EU, UK, and Canada, are prepared to unilaterally lower the $60-a-barrel price cap on Russian oil, regardless of whether U.S. President Donald Trump supports the move. Sources say these countries aim to reduce the cap to $45, arguing that the current level is outdated due to falling global oil prices and ineffective in curbing Moscow’s war funding.
The decision is expected to be a key point of debate at the upcoming June 15–17 G7 summit in Canada. While the U.S. remains undecided, some American lawmakers like Senator Lindsey Graham support a tougher stance. With Britain’s grip on global shipping insurance and EU influence over compliant tanker fleets, European leaders believe they can act without full U.S. alignment. However, Washington's role remains critical in managing dollar-based oil transactions. Russia’s shrinking oil revenues and profit decline at state-run Rosneft signal that the pressure from existing sanctions is mounting.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said.&nbs...
Saudi Aramco has ordered staff to evacuate its headquarters amid escalating Houthi attacks on the kingdom. Two people were killed in an attack on D...
Nigeria's first Ebola case in more than a decade may be linked to travel in Uganda, Swiss authorities said on Thursday, although the source of ...
Russia is willing in principle to resume peace talks with Ukraine and the United States in November, Kremlin aide Yuri Ushakov said after President Vladimir Putin met U.S. special envoy Steve Witkoff in St Petersburg.
Saudi Aramco has ordered staff to evacuate its headquarters amid escalating Houthi attacks on the kingdom. Two people were killed in an attack on Dammam airport, while Iran's IRGC Navy claimed strikes on seven vessels and warned the U.S. of a wider response.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said. Meanwhile, Russia said it had intercepted the vast majority of 630 Ukrainian drones launched towards Moscow.
Yemen's Houthis have denied targeting the holy city of Medina on Wednesday adding that they have not conducted any military operations towards Saudi Arabia either, denying earlier comments from the Saudi-led coalition in Yemen.
Georgia’s Constitutional Court in Batumi will on Wednesday hear a lawsuit seeking to ban five Georgian opposition parties, four of which collectively gained 784,820 votes (37.79 per cent) in the country’s last national elections in 2024.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said. Meanwhile, Russia said it had intercepted the vast majority of 630 Ukrainian drones launched towards Moscow.
Nigeria's first Ebola case in more than a decade may be linked to travel in Uganda, Swiss authorities said on Thursday, although the source of infection remains unclear. Uganda maintains it has no cases of the disease.
Super typhoon Champi is set to batter Japan’s Okinawa Prefecture from Friday (23 October), bringing violent winds, torrential rain and waves up to 11 metres high, as airlines cancel flights and organisers scrap a major festival.
Two women from Austria and Switzerland have been freed after lengthy periods in captivity in Niger, following extensive diplomatic efforts to secure their release amid growing concerns over kidnappings in the Sahel region.
France has reported its first known human case of Shamonda virus following the death of an infected patient, authorities said on Thursday (22 October). The virus, typically found in livestock, is believed to have been transmitted by a biting midge.
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