A Russian flag flies on the top of a diesel plant in the Yarakta Oil Field in Russia’s Irkutsk Region in March 2019. Photo: Reuters
A Russian flag flies on the top of a diesel plant in the Yarakta Oil Field in Russia’s Irkutsk Region in March 2019. Photo: Reuters
Ukraine war

EU strikes deal on oil price cap to starve Russia’s war machine in Ukraine

  • The cap of US$60 per barrel will come into effect with the bloc’s embargo on Russian crude from Monday
  • The ban on shipments by tanker vessel to the EU could potentially deprive Moscow’s war chest of billions of euros.

A Russian flag flies on the top of a diesel plant in the Yarakta Oil Field in Russia’s Irkutsk Region in March 2019. Photo: Reuters
A Russian flag flies on the top of a diesel plant in the Yarakta Oil Field in Russia’s Irkutsk Region in March 2019. Photo: Reuters
READ FULL ARTICLE