Yellen discusses price cap on Russian oil with UK’s Nadhim Zahawi
US Treasury Secretary Janet Yellen speaks during a press conference in Bali on July 14, 2022. U.S. Secretary of the Treasury Janet Yellen highlighted a proposed price cap on Russian oil on a call with British Chancellor of the Exchequer Nadhim Zahawi on Tuesday, the U.S. Treasury Department announced in a press release published on the same day. The proposed price cap aims to alleviate the impact of Putin’s war on global energy prices and curtail Russia’s war revenue.
Sonny Tumbelaka | Afp | Getty Images
U.S. Treasury Secretary Janet Yellen discussed a proposed price cap on Russian oil with U.K. Chancellor of the Exchequer Nadhim Zahawi, according to readout from the Treasury.
Yellen has previously said a limit on Russian oil prices would “deny Putin revenue his war machine needs.”
The two also discussed U.S. and U.K. support for Ukraine as well as “opportunities to build on the historic sanctions imposed on Russia,” according to the Treasury readout.
— Natalie Tham
Ukraine reportedly shells bridge supply route into occupied Kherson
Ukraine’s armed forces have reportedly shelled the Antonivskyy Bridge that leads into Russian-occupied Kherson in southern Ukraine.
The armed forces posted a video on social messaging site Telegram last night purportedly showing several missiles striking the bridge, one of several that lead into Kherson, which was occupied early on in the Russian invasion of Ukraine. The reports have not been able to be independently confirmed by CNBC.
The bridge is seen as a vital supply route for Russian forces in the city used to keep them stocked with ammunition and other heavy weaponry and equipment. It’s not the first time the bridge has come under attack as Ukraine attempts to recapture the city.
Last week Ukrainian shelling left the bridge partially damaged and some reports suggest it could have been destroyed last night but that has not been confirmed, and the state of the bridge is unknown.
Zelenskyy says Russia is using gas prices to terrorize Europe
Ukraine’s President Volodymyr Zelenskyy attends the NATO summit via video link, as Russia’s attack on Ukraine continues, in Kyiv, Ukraine June 29, 2022.
Ukrainian Presidential Press Service | via Reuters
Ukrainian President Volodymyr Zelenskyy said Russia is using gas prices to terrorize Europe.
“Among other things the engineered increase in gas prices to above $2000 for 1,000 cubic meters on European markets, is enough of an experience to broaden sanctions against Russia,” Zelenskyy said during a nightly address.
“As it is clear to everyone that this is intended Russian price terror against Europeans. Using Gazprom, Moscow is doing all it can to make this coming winter as harsh as possible for the European countries. Terror must be answered, impose sanctions,” he added.
— Amanda Macias
U.S. Defense Secretary Austin speaks with Ukrainian counterpart about more military aid
Secretary of Defense Lloyd Austin speaks at a news briefing at the Pentagon on July 20, 2022 in Arlington, Virginia.
Anna Moneymaker | Getty Images
U.S. Defense Secretary Lloyd Austin spoke with his Ukrainian counterpart and gave an update on the latest U.S. military aid package.
Austin reassured Ukrainian Minister of Defense Oleksii Reznikov that the United States is moving as quickly as possible to deliver equipment to Ukraine. Reznikov also updated Austin on the situation on the battlefield.
The latest security package will include additional High Mobility Artillery Rocket Systems, or HIMARS. The HIMARS, manufactured by defense giant Lockheed Martin, are designed to shoot a variety of missiles from a mobile 5-ton truck.
— Amanda Macias
Deputy U.S. Treasury secretary meets French counterparts to discuss more sanctions against Russia
Wally Adeyemo, deputy U.S. Treasury secretary, speaks during a news conference at the Department of Justice in Washington, D.C., U.S., on Monday, Nov. 8, 2021.
Ting Shen | Bloomberg | Getty Images
Deputy Secretary of the Treasury Wally Adeyemo met with government counterparts in Paris this week to discuss additional sanctions imposed on Russia for its war in Ukraine.
Adeyemo also spoke with the executive director of the International Energy Agency about a price cap on Russian oil and other ways of restricting revenue to fund Russia’s military.
“In addition, Deputy Secretary Adeyemo met with financial services executives as well as economists and scholars to analyze the economic outlook in the United States, France, Europe, and globally, and the impact of Russia’s illegal war, particularly on global energy prices and food insecurity,” according to a readout from the Department of Treasury.
In the months since Russia invaded its ex-Soviet neighbor, Washington and its allies have imposed rounds of coordinated sanctions that vaulted Russia past Iran and North Korea as the world’s most-sanctioned country.
— Amanda Macias