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West price cap on Russian oil
The US Treasury says the group of seven major economies has agreed to put back its review of the price cap it imposed on Russian oil. The Treasury says talks about additional limitations will take place in March, rathern than February. This will give the group time to assess the market, amid the energy crunch triggered by the war in Ukraine and western sanctions on Russia. The Treasury also says the G7 will focus on limiting Russia’s income from oil products for now. The current price cap on Russian oil was agreed by the G7, the European Union and Australia in December, in reaction to Moscow's war in Ukraine. The restrictions ban maritime insurance, finance and brokering for Russia’s sea-borne oil, priced at more than 60 dollars a barrel.
War in Ukraine
As the West mulls the delivery of advanced battle tanks to Ukraine, the NATO chief says the supply of new weaponry is not enough. Jens Stoltenberg says Ukraine’s military sponsors must also help replenish and maintain Ukraine’s older systems.
Anti-settlement in Ukraine
Palestinians in the occupied West Bank have staged a rally to protest against the construction of an Israeli settlement outpost near the village of Qalan-dia. Demonstrators in the city of Ramallah held flags and chanted slogans, saying the regime has stolen their ancestral land. They warned against any Israeli construction, saying it’s a very dangerous act that would affect the entire area. The new outpost is planned to be built on a key road connecting Ramallah and the northwest of al-Quds. The Israeli regime has recently increased settlement activities as part of its expansionist policy in the occupied territories. All the Israeli settlements are illegal under international law as they are built on Palestinian land. The United Nations has repeatedly condemned the regime’s settlement plans.
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