Russia. A prize that neither frightens nor wards off invasion

The embargo on Russian oil exports by sea from the European Union entered into force yesterday and, at the same time, a limit on the maximum price per barrel was set by the countries belonging to the G7 and the Australia. According to the Kremlin, these measures will destabilize world energy markets, but will not affect Moscow’s ability to continue its military invasion of Ukraine.

The plan, agreed by members of the G7 nations, will cap the maximum price per barrel at $60 (about €56.75) and aims to cut Russia’s profits from the fossil fuel industry, thereby limiting its funding military, and will affect 90% of European imports of Russian oil, which equates to around 100,000 tonnes (730 million barrels) per year.

Kremlin spokesman Dmitry Peskov revealed that Russia is preparing to respond to countries that will participate in these decisions. “Russia and its economy have the necessary capacity to meet the needs and requirements of the special military operation,” he replied when asked if this new price per barrel of oil would affect the Russian military campaign. in Ukraine.

Peskov argued that this price cap would “completely destabilize” global energy markets and told Europeans to prepare for higher prices.

Global benchmark Brent crude rose 1.7% to $87.01 (about €91) a barrel on Monday following the European Union’s decision to adopt a price cap on Russian oil.

However, underlines the BBC, this value “is still well below the maximums observed after the invasion of Ukraine by Russia”. “The rise in oil prices tends to increase petrol prices and the cost of living”, observes the British media, citing as an example the case of the United Kingdom, where the cost of living “is increasing at the rate the highest in the last 41 years”.

“Russia has made it clear that it will not sell [petróleo] whoever signs the price cap,” Jorge Leon, senior vice president of Norwegian energy consultancy Rystad Energy, told the BBC’s Today programme. “What’s likely to happen is that we’re going to see some disruption in the next few months and probably oil prices will start to rise again in the next few weeks.”

Explosions in Russia and Ukraine

“Mysterious explosions” were reported Monday at two Russian airbases far from the front lines, raising the possibility that kyiv has found a way to hit Russian long-range bombers used in attacks on Ukrainian infrastructure.

According to Russian media, one of the explosions took place at the Engels-2 air base in Russia’s Saratov region, which houses Tu-95 bombers, and the second at the military air base near the city of Ryazan.

Three people died in these attacks and five were injured. The cause of the two explosions has not been confirmed.

However, on the same day it was also revealed that Russian missiles had hit buildings in the Zaporizhzhia region, destroying several houses and killing at least two people, a senior Ukrainian official said.

The Kyiv region governor warned residents to stay in shelters and an electricity company warned that power had been cut after the latest missile strikes.

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