Russia warns on oil import ban as little progress is made at Ukraine talks


LVIV/IRPIN, Ukraine (Reuters) – Fears of an power conflict between Russia and the West grew on Tuesday after the United States pushed its allies to ban Russian oil imports as punishment for Moscow’s invasion of Ukraine, the place talks on humanitarian corridors made little progress.

Russia warned it may cease the stream of fuel via pipelines from Russia to Germany in response to Berlin’s resolution final month to halt the opening of the controversial new Nord Stream 2 pipeline. Russia provides 40% of Europe’s fuel.

“We have each proper to take an identical resolution and impose an embargo on fuel pumping via the Nord Stream 1 fuel pipeline,” Russian Deputy Prime Minister Alexander Novak stated on Monday.

Novak additionally warned that oil costs may greater than double to $300 a barrel if the United States and its allies banned imports of Russian oil, a vital income after the nation was successfully frozen out of Western monetary markets.

Analysts at Bank of America nevertheless stated that if most of Russia’s oil exports have been reduce off there may very well be a shortfall of 5 million barrels per day (bpd) or extra, pushing costs as excessive as $200.

Oil costs see-sawed close to 14-year highs on Tuesday, with Brent crude futures up $1.06, or 0.9%, at $124.27 a barrel at 0223 GMT, after buying and selling as excessive as $125.19.

U.S. President Joe Biden held a video convention name with the leaders of France, Germany and Britain on Monday as he pushed for his or her help to ban Russian oil imports.

But if want be the United States was prepared to maneuver forward with out allies in Europe, two folks accustomed to the matter advised Reuters. Many nations on the continent are closely reliant on Russian power.

Russia’s invasion, the most important assault on a European state since World War Two, has created 1.7 million refugees, a raft of sanctions on Moscow, and fears of wider battle as the West pours army assist into Ukraine.

Japan tightened its sanctions on Tuesday, freezing the property of an extra 32 Russian and Belarusian officers and executives of firms with shut ties to the federal government.

Russia calls its actions in Ukraine a “particular operation” that it says is not designed to occupy territory however to destroy its southern neighbour’s army capabilities and seize what it regards as harmful nationalists.


Sieges and the bombing continued as Kyiv rejected doable humanitarian corridors to Russia and Belarus, however stated some restricted progress had been made on agreeing logistics for the evacuation of civilians.

Moscow would give the residents of the Ukrainian cities of Sumy and Mariupol the selection of transferring elsewhere in Ukraine on Tuesday, setting a deadline within the early hours for Kyiv to agree, Russian information companies reported.

More than 1.7 million Ukrainians have fled to Central Europe for the reason that battle started on Feb. 24, the United Nations refugee company stated on Monday.

After the third try to ease the bloodshed at talks in Belarus, a Ukrainian negotiator stated that though small progress on agreeing logistics for the evacuation of civilians had been made, issues remained largely unchanged.

Russia has proposed two corridors inside Ukraine, in line with Interfax. Escape routes to Russia and Belarus, its shut ally, have been earlier referred to as “fully immoral” by a spokesperson for Ukrainian President Volodymyr Zelenskiy.

Kremlin spokesman Dmitry Peskov advised Reuters Moscow would halt operations if Ukraine ceased preventing, amended its structure to declare neutrality, and recognised Russia’s annexation of Crimea and the independence of areas held by Russian-backed separatists.

A Russian strike on a bread manufacturing facility killed 13 within the city of Makariv within the Kyiv area, Ukrainian officers stated. Reuters couldn’t confirm the small print. Russia denies focusing on civilians.

In the encircled southern port metropolis of Mariupol, a whole lot of 1000’s of individuals remained trapped with out meals and water beneath common bombardments.

In the jap metropolis of Kharkiv, police stated the dying toll from the Russian bombardment was 143 for the reason that begin of the invasion. It was not doable to confirm the toll.

Ukraine stated on Monday its forces had retaken management of the city of Chuhuiv within the northeast after heavy preventing and of the strategic Mykolayiv airport within the south. Neither may instantly be verified.

A senior U.S. defence official stated Putin had now deployed into Ukraine practically 100% of the greater than 150,000 forces that he had pre-staged outdoors the nation earlier than the invasion.

(Reporting by Reuters bureaus; Writing by Costas Pitas and Stephen Coates; Editing by Rosalba O’Brien and Michael Perry)

Source link