Oil price cap from Western allies/Zelensky: Weak position

The President of Ukraine, Volodymyr Zelensky

The President of Ukraine, Volodymyr Zelensky, has criticized the price limit set by Western allies for Russian oil exports.

The cap, approved on Friday, aims to stop countries paying more than $60 (£48) for a barrel of offshore Russian crude.

Russia has stated that it will not accept a price cap on its oil exports.

The move, which will take effect on Monday, intensifies Western pressure on Russia for the invasion.

But Zelensky has called this a "weak position" and not "serious" enough to harm the Russian economy.

"Russia has already caused huge losses to all countries of the world by deliberately destabilizing the energy market," he said in his speech. It is "only a matter of time when stronger means will have to be used", added Zelenksy./ CNA.al

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