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 Sources say these countries aim to reduce the cap to $45, arguing that the current level is outdated due to falling global oil prices and ineffective in curbing Moscow’s war funding.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.
An explosion and fire have been reported at a major underground gas pipeline in Russia’s Penza region on 13 October, according to UA News, as...
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One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
An explosion and fire have been reported at a major underground gas pipeline in Russia’s Penza region on 13 October, according to UA News, as cited by Azerbaijan’s APA news agency. The reports have not been independently verified.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Climate activist Greta Thunberg joined high school students protesting outside a school in the Paris suburb of Saint-Denis on Tuesday, as a wave of student demonstrations continues across France.
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercontinental ballistic missile capable of reaching the United States.
Southeast Asian foreign ministers are set to discuss measures to tackle transboundary haze during preparatory meetings ahead of the ASEAN summit in November, as forest and land fires in Indonesia continue to affect air quality across the region, the Philippines said on Tuesday.
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