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The oil price cap aims to restrict Russia's revenue, while making sure Moscow keeps supplying the global market

Russian oil price cap put to the test

The price cap on Russian oil agreed by the EU, G7 and Australia came into force on Monday. It aims to restrict Russia's revenue as punishment for its invasion of Ukraine, while making sure Moscow keeps supplying the global market.
Illustration shows models of oil barrels and a pump jack in front of U.S. and Russia flag colors

EU inches towards deal on Russian oil price cap this week

European Union countries are inching towards a deal this week on a price cap on Russian oil, a way to adjust the cap in future, and on linking it to a package of new sanctions against Moscow over its invasion of Ukraine, diplomats said on Tuesday.
Local residents stand in line to fill up bottles with fresh drinking water in Kyiv

Zelenskiy warns Ukraine to brace for more Russian attacks

Ukrainian President Volodymyr Zelenskiy said on Sunday that Russia would surely launch new missile attacks on his country, and warned defence forces and citizens to be prepared to withstand a new week of strain on the power grid.
French President Emmanuel Macron (C) is greeted by Thai officials after landing in Bangkok Wednesday night for the APEC summit

Ukraine war casts shadow over APEC summit

The APEC summit caps an intense fortnight of diplomacy in Asia, following the G20 and a gathering of Association of Southeast Asian Nations leaders in Phnom Penh last week.