U.S., Allies Tighten Vise On Russian Oil Exports

The US and its allies have announced a new price cap on Russian oil products. Additional sanctions were announced as the US, the G7, the European Union (EU) and Australia placed targeted a price cap on “seaborne Russian-origin petroleum products,” trying to evade the sanctions dragnet, the US Department of Treasury said, Ukraine Daily reported.

Photo Insert: Charles Michel, the president of the European Council (EC), says Ukraine will become a EU member despite Kremlin’s threats.

Ukrainian Prosecutor General Andriy Kostin reported on Feb. 3 that the US had authorized “the first-ever transfer of the confiscated assets in the amount of $5.4 million for rebuilding Ukraine.” The money was confiscated from a Russian oligarch, the Associated Press (AP) reported.

Charles Michel, the president of the European Council (EC), says Ukraine will become a EU member despite Kremlin’s threats.

Ukraine officially received EU candidate status in June 2022 but talks on its accession have not begun yet. EC President Ursula von der Leyen also said the EU will work to allocate 1 billion euros for Ukraine’s reconstruction.

As this developed, EU Foreign Policy Chief Josep Borrell said the EU sent Ukraine 50 new ambulances, 94 off-road trucks for the military, and 13 off-road military transport vehicles under the European Peace Facility (EPF).

On Feb. 3, Lithuanians donated 1 million euros in an hour to buy radar for Ukraine. The purchase of the multifunctional tactical radar systems for Ukraine is part of the Radarom! fundraising campaign launched by Andrius Tapinas, the founder of Lithuania's Laisves TV.

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