Moscow on Saturday denounced a price cap on Russian oil agreed by the Group of Seven nations and Australia, describing it as a “dangerous and illegitimate instrument.” Ukraine’s allies had agreed to cap the price of Russian oil at $60 per barrel on Friday, although it is not clear the move will seriously hit Moscow’s finances in the near term, since the cap is close to current prices.
A senior Ukrainian official welcomed the cap but said it did not go far enough. The cap should be lowered to $30 per barrel “to destroy the enemy’s economy quicker,” Ukrainian presidential aide Andriy Yermak said Saturday. Ukrainian President Volodymyr Zelensky made a similar appeal last month, calling a $60 cap an “artificial limit.”
Here’s the latest on the war and its ripple effects across the globe.
4. From our correspondents
After Kherson, Ukraine’s military ponders new push south and east: After recent battlefield success, Ukraine may be shifting its attention to the Zaporizhzhia region and its southern front line less than 100 miles north of the Azov Sea, where Ukrainians are eager to sever a “land bridge” connecting mainland Russia to Crimean -which Russia illegally annexed in 2014, write Samantha Schmidt and Serhii Korolchuk for The Post.
The Kremlin is also gearing up for a fight and building up more fortified defensive positions on the muddy and flat fields in the area. “Everyone is talking about Zaporizhzhia. Everyone,” said military analyst Konrad Muzyka.
Kyiv is also intent on liberating nearby cities such as Melitopol and Enerhodar, where the Zaporizhzhia nuclear power plant is located.