Latest news with #RussiaSanctions
The Independent
4 days ago
- Business
- The Independent
PM denies coalition of the willing is dead as UK pushes for lower Russian oil cap
Talks to tighten the oil price cap on Russia are ongoing, Sir Keir Starmer said as he denied his plans for a so-called 'coalition of the willing' to protect Ukraine were dead. The Prime Minister said he 'strongly' believes that restrictions on the price of Russian crude oil should be strengthened to deplete the revenues Vladimir Putin uses to fund his war machine. The UK announced sanctions on 30 fresh targets linked to the Kremlin on Tuesday in a bid to ramp up pressure on Moscow as it continues resist calls for an unconditional ceasefire in Ukraine. A wider package of measures which Sir Keir suggested would be forthcoming from allies gathered at the G7 summit in Canada is yet to materialise after splits opened up in the approach to Russia on Monday. Downing Street said Britain also plans to 'move with partners to tighten the oil price cap' after the group of the world's wealthiest countries agreed in 2022 to restrict the price Russian crude oil to 60 dollars a barrel. Speaking to reporters with him in Kananaskis, Sir Keir was asked whether such a move would be possible without the backing of the US, which has indicated its reluctance to impose further sanctions on Moscow. 'Obviously today we're going to focus on Ukraine,' Sir Keir said. 'We've got President (Volodymyr) Zelensky coming in. We're putting in extra sanctions today, including sanctions on the shadow fleet. 'Others will be doing, similar actions in coming days. And so that does ramp up the pressure. 'On the oil price, obviously, we're still looking at how we're going to make that work. But I strongly believe that we have to put those sanctions in place. We're having those discussions with President Zelensky today.' Before abruptly leaving the summit on Monday, US President Donald Trump suggested he wanted to wait to 'see whether or not a deal is done' with Ukraine before targeting the Kremlin with further action. His remarks are awkward for Sir Keir, with whom he appeared to announce the completion of the US-UK deal, after the Prime Minister said G7 allies would seek to target Russian energy revenues. Talks to broker a possible peace in Ukraine have stalled as Moscow continues to pound the country with missile and drone attacks and holds out on US-backed proposals for an unconditional truce. Meanwhile, the UK and France have been leading efforts to assemble a so-called 'coalition of the willing' made up of nations prepared to send peacekeeping troops to Kyiv to enforce a potential truce. Asked whether those plans were dead in the water, Sir Keir told reporters: 'On the coalition of the willing, no, not at all. That is obviously intended to answer the question, how do you ensure that if a deal is reached, a deal is kept so it's a lasting deal? 'Because the concern, has always been, that there have been deals, if you like, before, Putin has then subsequently breached them. 'So how do you stop that happening again? And the military planning is still going on, as you would expect, so that, when the time comes, we're ready to act.' Ukrainian President Volodymyr Zelensky is attending the G7 conference in Kananaskis, along with leaders from Canada, the US, France, Italy, Japan, Germany and Britain. The Russian invasion will be at the top of the agenda on Tuesday. Earlier, the UK announced sanctions targeting 20 oil tankers in Russia's shadow fleet, as well as measures to tighten the net around companies managing the vessels, Orion Star Group LLC and Valegro LLC-FZ. Britain also targeted two UK residents – Vladimir Pristoupa and Olech Tkacz – who the Government said had operated 'a shadowy network of shell companies' aiding Moscow. The branch of the Russian defence ministry leading the country's underwater intelligence gathering operations, known as Gugi, has also been sanctioned. Sir Keir said: 'These sanctions strike right at the heart of Putin's war machine, choking off his ability to continue his barbaric war in Ukraine. 'We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws. 'The threat posed by Russia cannot be underestimated, so I'm determined to take every step necessary to protect our national security and keep our country safe and secure.'
Daily Mail
4 days ago
- Business
- Daily Mail
Starmer's push for fresh Russia sanctions at G7 summit hits Trump roadblock as US president says he wants to 'wait' because they 'cost us a lot of money'... then snubs Zelensky meeting to leave Canada early
Keir Starmer 's push for fresh Russia sanctions have hit a Trump roadblock after the US president complained they 'cost us a lot of money'. The PM has been talking up the prospect of 'squeezing' Vladimir Putin at the G7 summit in Canada this week. But Mr Trump has struck a starkly different tone, suggesting during the gathering that the dictator should not have been ejected from the powerful group of nations. Speaking alongside Sir Keir overnight, Mr Trump was asked about ramping up sanctions and replied: 'Well Europe is saying that, but they haven't done it yet. 'Let's see them do it first.' Mr Trump added: 'I'm waiting to see whether or not a deal is done… and don't forget, you know, sanctions cost us a lot of money. 'When I sanction a country that costs the US a lot of money, a tremendous amount of money. 'It's not just, let's sign a document. You're talking about billions and billions of dollars. Sanctions are not that easy. It's not just a one-way street.' Following the photo op with Sir Keir, to unveil details of the US-UK trade deal, Mr Trump opted to leave the summit early and return to Washington amid the crisis between Israel and Iran. He is missing the G7 discussions on Ukraine today, and a planned meeting with Volodymyr Zelensky. Downing Street would not expand on what a mooted European sanctions package is likely to include but said it would aim to keep 'up the pressure on Russian military industrial complex'. A No10 spokesman earlier dismissed suggestions that the limited detail about the announcement reflected divisions within the G7 on the issue of Moscow. 'I don't agree with that characterisation at all,' the official said. 'It's just a point of fact that the G7 has only just begun. 'The sessions are just beginning now, and it would be premature to get ahead of what those sessions will yield.' In a bilateral meeting with Canadian Prime Minister Mark Carney yesterday, Mr Trump said the decision to oust Russia from the former G8 had been a 'mistake'. Moscow was expelled from the group following its annexation of Crimea in 2014. Sir Keir said: 'The fact is, Russia doesn't hold all the cards. 'So, we should take this moment to increase economic pressure and show President Putin it is in his, and Russia's interests, to demonstrate he is serious about peace. 'We are finalising a further sanctions package and I want to work with all of our G7 partners to squeeze Russia's energy revenues and reduce the funds they are able to pour into their illegal war.' UK intelligence has assessed Russia's forces as likely having sustained approximately 1,000,000 casualties since it launched its full-scale invasion in 2022, but it continues pounding Ukraine with drone and missile attacks. Mr Zelensky is expected to attend the conference in Kananaskis, along with leaders from Canada, the US, France, Italy, Japan, Germany and Britain. The Ukrainian president has accepted a US-backed ceasefire proposal and offered to talk directly with Mr Putin, but the Russian leader has so far shown no willingness to meet him and resisted calls for an unconditional truce.
Bloomberg
4 days ago
- Business
- Bloomberg
EU Oil Price-Cap Bid Loses Steam Without US Backing
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. An EU proposal to lower a Group of Seven oil-price cap to $45 per barrel from $60 and tighten the screws on Russia's revenues could be losing steam, we're told. The US is opposing the move and some member states are hesitant to move forward without President Donald Trump's backing. The surge in oil prices over Middle East tensions adds a new level of complexity, making arguments for going it alone with G-7 nations other than the US more difficult. One diplomat told us that several member states are worried that a lower price threshold could push crude prices even higher. Before exiting the G-7 summit in Canada early, Trump indicated he's in no rush to impose tougher sanctions on Russia. On the sidelines, Commission President Ursula von der Leyen met with Trump, and the EU's trade chief Maros Sefcovic sat down with US counterpart Jamieson Greer to discuss trade negotiations ahead of a July 9 deadline, when the US could hit the bloc with 50% tariffs on most EU exports.
Yahoo
08-06-2025
- Business
- Yahoo
Finnish PM criticizes reported attempts by Trump to weaken Russia sanctions bill
Finnish Prime Minister Petteri Orpo on June 7 criticized a weakened Russia sanctions bill amid reports that U.S. President Donald Trump is pressuring the Senate to weaken the legislation. "We need to force (Russian President Vladimir) Putin to the negotiating table," Orpo said at the Finnish National Coalition Party's assembly on June 7. "I hope that the United States passes it as quickly and as completely as possible," Orpo told reporters at the assembly in Helsinki. The White House is urging Republican Senator Lindsey Graham to soften a Russia sanctions bill he is leading, the Wall Street Journal (WSJ) reported on June 6, citing congressional staffers. The bipartisan sanctions bill could introduce a 500% tariff on imports from countries that continue purchasing Russian oil and raw materials. "We will discuss these issues at the (NATO) summit... We should get decisions now," Orpo said. A NATO summit is slated to take place June 24-26 in the Netherlands. The important meeting is expected to cover a wide range of issues, including defense spending and Russia's war against Ukraine. At a June 5 joint press conference alongside German Chancellor Friedrich Merz, Trump said lawmakers were waiting for his approval before advancing the Russian sanctions bill. "They'll be guided by me. That's how it's supposed to be," Trump said. "They're waiting for me to decide on what to do." Senate Democrat Richard Blumenthal, who also leads the sanctions bill, has confirmed that negotiations have been taking place behind the scenes with White House officials. Read also: Operation Spiderweb 'gave Putin a reason to bomb the hell out of them,' Trump says, following large-scale attacks on Ukrainian cities We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Washington Post
28-05-2025
- Business
- Washington Post
Trump says Russia sanctions would hurt chances of ending war
Politics Trump says Russia sanctions would hurt chances of ending war May 28, 2025 | 7:09 PM GMT President Donald Trump said on May 28 he believes the U.S. is nearing a deal to end the Ukraine war and will not slap sanctions on Russia. Zelensky says Trump was ready to impose new sanctions on Russia Related
