Ottawa imposes maximum purchase price on Russian petroleum products | War in Ukraine

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Ottawa imposes a maximum purchase price on Russian oil products | War in Ukraine

Several Western countries have also promised to new weapons for the Ukrainian army.

Starting Sunday, Canada will cap the purchase price of Russian petroleum products that are more expensive than crude oil at $100 a barrel.

The Ministry of Finance announced on Saturday that the Canada joined other G7 countries and Australia in capping the purchase price of petroleum products of Russian origin transported by sea.

The ministry said that starting Sunday, the maximum price will be $100 a barrel for products more expensive than crude oil, such as gasoline and diesel. It will be $45 a barrel for products less expensive than crude oil, such as fuel oil.

The government said in a press release that these measures will weaken the ability of the president Vladimir Putin to finance the war against Ukraine, while maintaining the stability of energy markets and minimizing negative economic effects.

Buyers who do not adhere to the maximum prices imposed by the coalition will be unable to obtain services from companies in the G7 or Australia, Ottawa said.

Finance Minister Chrystia Freeland says Russian oil revenues have already fallen since the first price cap came into effect and the measures announced on Saturday will be another blow to war finance from Putin.

The West has continued to announce military support for Ukraine over the past few days.

The country has been promised longer-range Western weapons, military aid its President Volodymyr Zelensky is counting on to end Russia's brutal aggression .

These are in particular GLSDB (Ground Launched Small Diameter Bomb) bombs, small-diameter devices fired from the ground and capable of hitting a target 150 km away away, threatening Russian positions behind the front lines.

The handover of the GLSDBs will not take place for several months, however, said a Pentagon spokesman, Lt. Col. Garron Garn, citing production and delivery schedules. Moreover, he could not specify the number for security reasons.

The West will notably provide long-range weapons and a ground-to-air defense system in support of Ukraine.

If the delivery of weapons picks up, especially long-range weapons, not only are we not going to withdraw from Bakhmout, [but] we are going to start ending the war. x27;Occupation of Donbass, an eastern region partly in Russian hands, said the Ukrainian president.

The army will defend as long as it can this key eastern city that Russian soldiers have been trying to seize for months. Nobody will abandon this "fortress", hammered Mr. Zelensky.

Almost a year after the start of the invasion of the Ukraine by Russia, Bakhmut has become the epicenter of the fighting and Moscow's forces have made small territorial gains in the region in recent weeks at the cost of heavy losses.

Paris has announced that France and Italy will provide a MAMBA medium-range surface-to-air defense system in the spring to help Ukraine defend against attacks from Russian drones, missiles and aircraft.

Portugal, meanwhile, said on Saturday it was willing to send German-made Leopard 2 heavy tanks to Ukraine, but said it needed to work with Berlin first to hand over some of it. of its working armored vehicles.

In addition, the US Attorney General announced on Friday the first transfer of confiscated Russian funds from an oligarch, in the amount of 5.4 million dollars, with the aim of helping Ukraine, according to the CNN channel.

AFP journalists noted on Friday the violence of the clashes which reduced certain neighborhoods on the outskirts of Bakhmout to ruins.

According to the authorities, this city now has about 6,500 inhabitants, compared to some 70,000 before the war.

The bombardments also continued in Kherson, a large city in the south taken and then abandoned by the Russians, where one person was killed and another injured on Friday, authorities said.

On Saturday, the major port city of Odessa suffered major power cuts following a technical incident at an electricity station, which has been the target of constant Russian bombardment in recent times, announced Prime Minister Denys Chmygal.

“The situation is complex, the scale of the accident is significant. It is impossible to quickly restore power, especially to critical infrastructure.

— Denys Chmygal, Prime Minister of Ukraine

Separately, the head of the Ukrainian presidential administration, Andriï Yermak, announced on Saturday a new large exchange of prisoners which allowed kyiv to recover 116 people. Russian news agencies, for their part, refer to the announcement by the Ministry of Defense of the return of 63 soldiers thanks to the mediation of the United Arab Emirates.

We brought back 116 of our own, defenders of Mariupol, partisans of Kherson, snipers from the Bakhmut front and other heroes, Andriï Yermak wrote on Telegram.

Volodimir Zelensky's chief of staff added that the bodies of Andrew Bagshaw and Chris Parry, who were killed during a humanitarian operation to evacuate civilians from Donbass last month, had been returned in Ukraine as part of this exchange.

Ukrainian prisoners of war pose for a photo after an exchange at an unknown location in Ukraine.

On Friday in kyiv, the President of the European Council, Charles Michel, the President of the European Commission, Ursula von der Leyen, and other high European representatives met with Mr. Zelensky.

The latter affirmed that his country would not lose a single day in moving towards entry into the European Union and considered it possible to initiate discussions on this subject as early as this year.

European leaders hailed progress in creating independent and effective institutions to tackle the corruption that plagues the country.

Ukraine has been an official candidate for membership of the European Union since June 2022, an arduous process requiring many reforms that could last for years.

Von der Leyen said she was working on new sanctions against Russia by February 24, the first anniversary of the invasion, saying Moscow should pay for the destruction it caused.

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The President of the European Commission also estimated that the punitive measures taken over the past year have already set back the Russian economy by a generation, noting that the cap on the price of Russian oil exported at $ 60 per barrel costs Moscow 160 million euros a day.

On top of this will be a cap on the price of refined petroleum products, which the ambassadors of the member states of the EU approved on Friday, before final adoption by the European Council.

A European embargo on these same petroleum products sent abroad by sea must of come into effect on Sunday as the Kremlin lambasted a negative measure that will further unbalance markets.

EU leaders have also said they want to step up efforts to use frozen assets of Russia in order to support the reconstruction of Ukraine and for the purposes of repair.

With information from Agence France-Presse, Reuters, and La Presse canadienne