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 Sources say these countries aim to reduce the cap to $45, arguing that the current level is outdated due to falling global oil prices and ineffective in curbing Moscow’s war funding.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.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President...
Global oil prices climbed above $100 a barrel for the first time in nearly two months on Thursday (23 July) after Yemen's Houthi movement said it had ...
A global shift towards healthier diets, more efficient farming and reduced food waste could cut greenhouse gas emissions from agriculture-related land...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 22nd of July, covering the latest developments you need to know.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of July, covering the latest developments you need to know.
The United States has bombed Iran for an 11th consecutive night as the Pentagon says the war’s cost reach $37.5 billion. President Donald Trump threatens a heavy strike on the suspected Pickaxe Mountain nuclear site. Tehran warns that any attack could trigger a wider regional escalation.
U.S. strikes on Iran entered a 12th consecutive night, while Yemen's Houthis said they attacked two Saudi oil tankers in the Red Sea, urging President Donald Trump to warn Tehran it would be held responsible for any future Houthi attacks.
Azerbaijani President Ilham Aliyev and German President Frank-Walter Steinmeier have discussed regional developments, transport connectivity, energy cooperation and the Azerbaijan-Armenia peace process during talks in Berlin.
Channel Tunnel operator Getlink has warned that the biometric element of the European Union's new digital border security system for car passengers using the tunnel could be delayed because of software issues.
One soldier was killed and four others were injured after a UH-1Y Venom military helicopter crashed at the Czech Army's 22nd Air Base in Náměšť nad Oslavou, around 180 kilometres southeast of Prague, the Armed Forces said.
U.S. Secretary of State Marco Rubio has renewed the Trump administration's campaign against the International Criminal Court (ICC), accusing the Hague-based tribunal of threatening U.S. sovereignty and pledging further diplomatic action over its investigations.
The European Union (EU) has agreed on a 21st package of sanctions against Russia, after shelving some proposed measures to appease member states, most notably Greece.
Greece’s security council, KYSEA, is expected to give final approval on Thursday for the purchase of a multi-layered air defence system from Israel worth up to €3.5 billion ($4 billion), along with several types of drones, according to two sources who spoke to Reuters.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment