The European Commission has proposed a new package of sanctions designed to significantly reduce Russian oil and gas revenues—with the stated aim of weakening war financing and further isolating Russia economically.
Venezuelan President Nicolás Maduro avoided confirming that the United States had carried out an attack on a Venezuelan port facility, while signalling openness to dialogue with Washington.
Oil markets reacted immediately to Washington’s announcement, with the price of crude climbing, as traders weighed up the risk of losing a potential million barrels a day from the global supply chain.
China’s top state and private oil firms are cancelling Russian shipments after Washington blacklisted Moscow’s biggest producers, disrupting one of the Kremlin’s main export routes.
The calculation seems simple: as long as Doha provides gas, Western governments will forget every postured principle they use as an excuse to raise your taxes.
