G-7 mulls price cap on Russian oil exports

The G-7 is considering imposing a price cap on Russian crude oil transported by sea, in the range of 65 - 70 US dollars per barrel, according to BTA. The topic was discussed with the representatives of the 27 EU member states with the idea of reaching a common position. Some countries in the EU want to have lower prices and others higher prices. The purpose of the discussions is to introduce a price cap on Russian oil exported by sea, which will come into force on December 5. The decision is part of the sanctions that are intended to limit Russia's revenue from oil exports so that it has less money to finance military actions in Ukraine.

Three out of four operating nuclear power plants in the country were not connected to the electricity grid, as the work on restoring electricity supply started in a number of regions in Ukraine. In many places, including the capital city of Kyiv, work is focused on repairing critical infrastructure. Electricity has been restored in the region of Zaporizhzhia. According to the Ministry of Energy, many of the thermal power plants and hydropower plants were also disconnected from the network, which has aggravated the situation further.

BTA informs that 80% of households in Kyiv do not have water and electricity after the Russian missile attack yesterday. Electric buses do not run due to power shortages and metro trains run at long intervals. There is a problem with the Internet connection throughout Ukraine. Mobile operators complain of capacity overload in places where web access is available. Power and water supply in the city is expected to be restored today.