The Power Within: The Kyiv Independent’s first-ever magazine. Be among the first to get it.

pre-order now
Skip to content
Edit post

WSJ: US allies preparing new sanctions on Russian oil

by The Kyiv Independent news desk January 12, 2023 3:47 AM 1 min read
This audio is created with AI assistance

The United States and its allies are preparing a new round of sanctions, this time looking to cap the sales prices of Russian exports of refined petroleum products, the Wall Street Journal reported, citing two unnamed people familiar with the matter.

According to the people who spoke with the WSJ, the sanctions will set a price limit on diesel and fuel oil and are set to go into effect on Feb. 5.

This fresh round of sanctions follow a decision last month by the U.S., EU and other Group of Seven countries to cap the price of Russian crude exports at $60 a barrel.

Ukrainian President Volodymyr Zelensky criticized the price cap as not going far enough in punishing Russia for its war against Ukraine.

According to the WSJ report, the penalties on the two types of refined products could have bigger economic consequences, and market watchers expect Russia will have a more difficult time reorienting its exports of refined products.

Even after sanctions, Russian economy can pay for war

News Feed

7:21 PM  (Updated: )

Trump says 'nobody is asking' Ukraine to recognize Crimea as Russian.

"Nobody is asking (President Volodymyr) Zelensky to recognize Crimea as Russian Territory, but if he wants Crimea, why didn’t they fight for it eleven years ago when it was handed over to Russia without a shot being fired?" U.S. President Donald Trump wrote.
8:06 AM  (Updated: )

Zelensky visits South Africa but cuts trip short after mass Russian strike.

"We count on South Africa’s meaningful participation in the International Coalition for the return of thousands of Ukrainian children abducted by Russia. We will also certainly strengthen our cultural and educational ties," President Volodymyr Zelensky said.
5:30 AM

Trump says he may meet Putin 'shortly' after May Middle East visit.

Despite ongoing ceasefire negotiations, Trump and Putin have yet to have direct contact, communicating only through their officials. Trump's last in-person encounter with his Russian counterpart was during the 2018 Helsinki Summit during the U.S. president's first term.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.