Russia's oil revenues are still funding the war, and sanctions and price capping mechanisms have failed to deprive Russia of its revenues.
Ukrainian President Volodymyr Zelensky is set to attend a UK Cabinet meeting to discuss strategies aimed at further disrupting Russia n oil sales as the ongoing Russia -Ukraine conflict continues to reverberate through global oil markets . While critics of Western sanctions against Russia have argued against their effectiveness, Zelensky's presence at such a high-level meeting speaks to Ukraine’s push to weaken Russia ’s economic foundation, which is heavily reliant on its oil exports.
While this reduction in oil export revenue will put a strain Russia’s budget, it will stabilize fuel prices at home, ensuring enough fuel both for civilian and military purposes. Global Energy Market Implications The ramifications of this shift in oil flows are being felt across the global energy market—although perhaps more muted than Western-sanctioners had hoped for.
Sanctions Crude Oil Oil Prices Oil Markets Yanet Yellen Oil Price Cap
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia ‘foiled Ukrainian plot to hijack Tu-22 nuclear bomber’The FSB said it had foiled a plot to recruit the pilot to fly the supersonic bomber to Ukraine for $3m and Italian citizenship
Read more »
Ukraine-Russia war latest: Russia 'testing new tactics' to target Kyiv, says UkraineRussia has launched its fifth drone attack on Kyiv in two weeks, with Ukraine's military claiming to have shot down all the weapons before they reached the capital.
Read more »
Ukraine-Russia war latest: Russia's advance on Kharkiv 'halted'Volodymyr Zelensky told leaders at his address at Blenheim Palace that Ukraine had halted Moscow's forces completely in northern Kharkiv.
Read more »
Drugs kingpin oversaw £141m cocaine plot before hiding in SpainChristopher Gibney was on the run for three years before being captured
Read more »
Security guard ‘heartbroken’ chats about Willoughby kidnap plot have come outGavin Plumb denies masterminding plans to kidnap, rape and murder the TV presenter.
Read more »
Alexander Isak transfer: Chelsea show further interest in signing Newcastle strikerChelsea have shown further interest in Newcastle United striker Alexander Isak.
Read more »