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In a bid to further limit Russia’s ability to make money and finance its brutal war efforts in Ukraine, the U.S. and allies on Friday announced new price caps on products like gasoline and fuel oil, TURAN's Washington correspondent reports.
The agreement between the U.S., the G7, the EU and Australia places a price cap on two levels: one applies to Russian "premium-to-crude" petroleum products like diesel, kerosene and gasoline, which will be capped at $100 USD per barrel, and the other on “discount-to-crude” petroleum products like fuel oil, which will be capped at $45 USD per barrel, according to the U.S. Treasury Department.
Speaking to reporters Friday afternoon, senior Biden administration officials shrugged off reports that despite sanctions, the Russian economy is still expected to rebound, saying that it “doesn't function any longer like a normal economy.”
Alex Raufoglu
Washington D.C.
Politics
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On November 16, at the venue of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku, environmental activists held rallies demanding that industrialized countries pay for the fight against climate change and respect the rights of people living in forest areas.
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Lise Christoffersen, Co-Rapporteur of the Parliamentary Assembly of the Council of Europe (PACE) Monitoring Committee for Azerbaijan, has voiced serious concern over the deteriorating health of civil society activists Anar Mammadli and Gubad Ibadoghlu.
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The Central Election Commission of Georgia on Saturday approved the results of the 26 October Parliamentary elections.
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‘I look forward to attending the COP29 climate conference to demonstrate that America is still in this fight and that we will not back down from our commitments and our allies.’
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