Ukrainian presidency: Setting a ceiling for oil prices will "destroy" the Russian economy

Britain: Russia plans to encircle Ukrainian Bakhmut and re-equip its army

A Ukrainian woman walks past a building badly damaged by Russian bombing in the town of Hostomel, Kyiv region.

Reuters

Britain revealed yesterday Russia's intention to encircle the Ukrainian town of Bakhmut, saying that Russian President Vladimir Putin could use peace talks with Russian soldiers in Ukraine to re-equip his forces before launching another offensive.

While Russia said it would continue to search for buyers for its oil despite what it described as a "dangerous" attempt by Western governments to impose a ceiling on the price of its oil exports, Ukraine called for a significant reduction in the ceiling for Russian seaborne crude, saying:

It should be reduced to 30 US dollars per barrel.

In detail, the British Ministry of Defense said yesterday that Russia is likely planning to encircle the town of Bakhmut in the Ukrainian region of Donetsk by advancing to the north and south.

The ministry added, in a daily intelligence update, that the capture of the city would have a limited impact on operations but would potentially allow Russia to threaten Kramatorsk and Sloviansk.

"There is a realistic possibility that the capture of Bakhmut has become primarily a symbolic political goal for Russia," the ministry said in the update, posted on Twitter.

For his part, British Foreign Secretary James Cleverly said in an interview with The Telegraph newspaper that the Russian president might take advantage of peace talks with Russian soldiers in Ukraine to re-equip his forces before launching another attack.

The newspaper reported that Cleverly revealed fears that Putin might pretend to be involved in negotiations when he was actually training more troops and sending more ammunition.

The Telegraph quoted Cleverly as saying, "There is a possibility that Putin will only take advantage of the ceasefire to train more forces, produce more ammunition, and re-equip and arm his armed forces after the damage they have suffered."

On the other hand, Russia said yesterday that it will continue to search for buyers for its oil, despite what it described as a "dangerous" attempt by Western governments to impose a ceiling on the price of its oil exports.

The Russian president and high-ranking Kremlin officials have repeatedly said they will not supply oil to countries that apply price caps.

Russia's embassy in the United States criticized, in a comment on "Telegram", what it said was a "reshaping" of the principles of the free market, and confirmed that demand for its oil will continue despite these measures.

And she added, "We are confident that the demand for Russian oil will continue."

For its part, the Ukrainian presidency expected yesterday the collapse of the Russian economy due to the decision of the European Union, the Group of Seven and Australia to set a ceiling for the oil price of sixty dollars per barrel, in an effort to deprive Moscow of resources to finance its war in Ukraine.

She said the $60 Russian oil price cap agreed by the European Union was too high.

"In order to destroy Russia's economy faster, it is necessary to reduce the price to $30 a barrel," Andriy Yermak, head of the Ukrainian presidential office, said.

"We always achieve our goal, the Russian economy can still be destroyed, and Russia itself will pay the price," Yermak wrote.

The G7 countries and Australia agreed to set a maximum price for Russian oil at $60 a barrel, following a similar agreement reached Friday by the member states of the European Union, according to a joint statement.

The statement said that the mechanism will enter into force on Monday with the entry into force of the ban imposed by the European Union on the purchase of Russian oil by sea.

On the ground, Ukraine announced that its armed forces had killed 90,600 Russian soldiers, since the start of the war on February 24, until yesterday.

A statement issued by the General Staff of the Armed Forces of Ukraine said: "In addition, the Ukrainian forces destroyed 2,917 Russian tanks, 5,886 armored vehicles, 1,906 artillery systems, 395 multiple missile systems, and 210 anti-aircraft systems."

The statement added that 280 warplanes, 263 helicopters, 1572 tactical marches, 531 cruise missiles, 16 warships or gunboats, and 4472 trucks and fuel tanks were destroyed.

According to the Russian state agency, Tass, a missile attack by Ukrainian forces hit a fuel depot in Shakhtyorsk, Donbas region, eastern Ukraine.

And Mayor Alexander Shatov of the pro-Russian administration announced that several people were wounded - according to "TASS" - saying: "The fuel depot was bombed, and unfortunately there are casualties."

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