(NEW YORK) — More than nine months after Russian President Vladimir Putin launched an invasion into neighboring Ukraine, the two countries are engaged in a struggle for control of areas throughout eastern and southern Ukraine.
Putin’s forces in November pulled out of key positions, retreating from Kherson as Ukrainian troops led a counteroffensive targeting the city. Russian drones have continued bombarding civilian targets throughout Ukraine, knocking out critical power infrastructure as winter sets in.
Here’s how the news is developing. All times Eastern:
Dec 27, 1:13 PM EST
Putin bans sending Russian oil to countries imposing a price cap
Russian President Vladimir Putin signed a decree Tuesday that not only rejects a price cap on the country’s oil but bans sending crude and other petroleum products to any country that has endorsed the price cap.
The Group of Seven countries, including the United States, agreed on Dec. 3 to impose a $60 per barrel price cap on Russian oil in response to the Kremlin’s invasion of Ukraine. Australia and the European Union also agreed to impose the price cap.
The decree Putin signed goes into effect on Feb. 1 and is valid until July 1, 2023.
The decree bans the supply of oil and oil products from Russia to those countries that place a price ceiling on contracts. The decree also forbids the supply of oil to other foreign buyers whose contracts use a price cap mechanism.
The decree includes a clause allowing Putin to overrule the ban in special cases to be determined by the Russian leader.
The price cap on Russian oil implemented by G-7 nations disallows the world’s second-largest oil exporter from selling crude at a price above $60 per barrel.
Since the outset of its war with Ukraine, Russia has sold its oil at discounted prices. As of Tuesday, Russian Urals crude was trading at $57 per barrel — an amount slightly less than the cap. But the price cap aims to ensure that Russian oil sales remain well below global oil prices, which stand at about $80 per barrel.
-ABC News’ William Gretsky
Dec 26, 7:40 AM EST
Ukraine strikes bomber base in Russia, killing three
A Ukrainian drone attack on the Engels Air Force Base in southern Russia killed three, Russia’s Ministry of Defense said.
A spokesman for Ukrainian Air Force confirmed the attack, saying, “If the Russians thought the war would not touch them they were wrong.”
Russian air defence reportedly shot down a Ukrainian drone flying at low altitude, but falling debris caused the casualties in the overnight attack.
The Engels base lies just over 300 miles northeast of Ukraine’s border with Russia. The facility has been repeatedly used by Russia to carry out missile strikes on targets in Ukraine.
Ukrainian forces had attacked another Russian air base on Dec. 5, killing three and damaging two strategic bombers.
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