President Vladimir Putin has held extensive meetings with the military top brass overseeing Russia's campaign in Ukraine, where Moscow has stepped up bombardments, the Kremlin said Saturday.
"On Friday, the president spent the whole day at the army staff involved in the special military operation in Ukraine," a statement said.
He held a meeting with Defence Minister Sergei Shoigu and
Chief of General Staff Valery Gerasimov and held "separate discussions
with commanders" from different defence branches, it said.
"I would like to hear your proposals on our actions in
the short- and medium-term," Putin was shown as saying in the meeting by
Russia's state television.
Russia launched a barrage of missiles on Friday on multiple
cities in Ukraine, plunging them into darkness, cutting water and heat and
forcing people to endure sub-zero temperatures.
After a series of embarrassing battlefield defeats, Russia
since October has pursued an aerial onslaught against what Moscow says are
military-linked facilities.
France and the European Union said the suffering inflicted
on freezing civilians constitutes war crimes, with the bloc's foreign policy
chief calling the bombings "barbaric".
- BSS/AFP
Comment
The US
deep state and policy establishment seems very fond of right-wing Islamist
radicals or the 'mullahs'. They used them to bring down Iran's secular
nationalist and democratically elected Prime Minister Mohammad Mosaddegh regime
when it threatened to nationalise Iran's oil industry in the 1950s.
The
Central Intelligence Agency (CIA) used the radicals backed and sheltered by
Pakistan to torpedo Afghanistan's Saur revolution that was doing wonders for
women's emancipation and the end of clan-based feudalism.
They
backed the Pakistani military using radicals to attack India or suppress the
1971 Bengali uprising.
The US
brought down Saddam Hussein with a fake scare that he had developed weapons of
mass destruction -- the bluff was called by the BBC at some cost to its
finances. The net result -- the rise of ISIS in the vacuum caused by the
withering away of the secular though autocratic Baath Party.
The
US-sponsored Arab Spring ended Hosni Mubarak's 'police state' but propelled the
Islamic brotherhood to power. General Fateh Al Sisi has restored Egypt's
secular polity in the great military tradition of backing secularism in the
Islamic world, but US efforts to keep the Talibans out with a parachuted liberal
like Ashraf Ghani failed miserably because Washington's regional favourite -
Pakistan's military - played both sides -- supporting NATO forces with
logistics and selective intelligence while backing the Talibans.
The US
failures in fighting asymmetric campaigns across the world failed despite its
overwhelming military power, because its deep state and military-industrial
complex suffered from the: cowboy mindset' with overwhelming emphasis on force
and confused approach to politics.
In the
Islamic world, the US has always floundered because it has often found value in
radicals/ mullahs for immediate tactical gains, but then seen them emerge as
huge long-term threats.
Osama Bin
Laden's saga comes to mind but is too well known to be recounted in detail.
Fearing
that the US was about to repeat its historical mistake in Bangladesh which
India could ill afford for an awful long list of reasons, Pranab Mukherjee (
later President) fought a long verbal duel with US Secretary of State Hilary
Clinton during the unfolding of the 1/11 Minus Two saga, reminding her that
Islamic radicals in Bangladesh have to be fought by 'homegrown secular forces '
rather than US Marines or some propped up pot-bellied Bengali general.
Mukherjee
prevailed and Bangladesh got a free and fair poll that brought back the Awami
League to power. The late president has recounted this graphically in his
memoirs "The Coalition Years".
Now the US
is back to its old mischief of regime change using a mix of 'civil society'
figures, Trojan horses inside the national power structure ranging from
bureaucracy to political parties to military, and media assets.
The
trouble is the US deep state rarely conjures up new innovative operational
plans -- rather they prefer sticking to an accepted template.
In the
case of Bangladesh, the US deep state and its cohorts in the policy establishment
are following the 2013 Euromaidan model that worked so well in Ukraine. In
fact, many from the Euromaidan team are handling the Bangladesh regime change
operations. Now what works in Ukraine may not work in Bangladesh. But the
Knight charlatans in Washington and Langley often miss out on regional
peculiarities.
The latest
US human rights report is part of the regime operations in Bangladesh. It seeks
to boost the radical outfit Jamaat-e-Islami at a time when it has unleashed a
hate campaign against the Ahmediyyas.
“Leaders
and members of Jamaat-e-Islami (Jamaat), the largest Muslim political party in
the country, could not exercise their constitutional freedoms of speech and
assembly because of harassment by law enforcement authorities. Jamaat was
deregistered as a political party by the government, prohibiting candidates
from seeking office under the Jamaat name,” observes the human rights reports
on Bangladesh.
Ironically,
the state department is not in keeping with the issues that the Ahmediyya
community raised with US Bangladesh Ambassador Peter Haas about the
fundamentalist pro-Pakistan party running a boycott Ahmediyya campaign and
pressing the government to declare them as “Unislamic”.
According
to a press release issued by the Ahmediyya community, Ambassdor Haas, during
his courtesy call to some of their leaders was told about "the serious
concerns over the Jamaat-sponsored hate campaign and the highly communal
statement from BNP’s secretary general Mirza Fakhrul Islam Alamgir calling the
attempt to hold the Ahmediyya rally controversial .
Days after
the attack, Jamaat acting Secretary General Maulana ATM Masum issued a
statement on March 5, asking the government to officially declare the Ahmadiyya
community “non-Muslim”.
Moreover,
an ardent Jamaat-backed Twitter handle named Basherkella posted a series of
tweets asking people to boycott Ahmediyya, in clear evidence of a vicious hate
campaign by the minority community.
The US
human rights report also projects controversial rights body Odhikar as an
“independent body”, oblivious to the fact that its founder Adilur Rahman Khan
Shuvro was a deputy attorney general during the BNP-JAMAAT coalition government
(2001-06).
'Odhikar'
has been the moving force behind human rights data faking like blowing up the
casualty figures during the 2013 police crackdown on ardent hardliners from
Hefazat-e-Islam, then joined by opposition parties including Jamaat who even
vowed to siege the capital to bring in Sariah Law, which was exposed by
national media.
The UN
ended up with eggs on its face when its reports contained names of
hail-and-hearty Indian insurgents in the Bangladesh country report on Enforced
disappearances -- again based on data fed by Odhikar and its fraternal
organisations.
Moreover,
the US report seems to quote frequently about Jamaat’s key ally, Bangladesh
Nationalist Party’s (BNP), claims centering shrinking freedom of speech and
freedom of assembly, but ignores the party’s series of attacks on the country’s
press and role in instigating communal violence.
This has
provoked sharp reactions from Awami League leaders and their concerns are
valid. But what top civil society personality Sultana Kamal has approached will
hopefully compel Washington into some kind of introspection.
She said
in an interview and I quote:
"This
report concerns the Jamat- e-Islami (Jamaat) Bangladesh, a political party
which has a proven record of collaborating with the Pakistani Military Junta in
1971 in the acts of Genocide, abduction, loot, arson, rape and other kinds of
violence against women.
It is
an established fact that its military wings in the name of Al-Badar and
Al-Shams were responsible for the intellectual killings between December 10 and
14. With due respect, I would like to submit that scanning through the media,
Pakistani government communications and international reports on the Bangladesh
genocide of 1971, one can not miss seeing what the role of Jamaat was during
the nine months of massacre of Bangladesh from March to December.
It was
through a process of law that Jamaat was de- registered. As a freedom fighter,
I would like to also ask whether the Nazi party be allowed to function in
Germany?
I have
no idea on what basis the report states the war crimes trial in Bangladesh was
flawed. Since I have not seen any clear explanation as to why some quarters
make such remark about the war crimes trial, I prefer not to comment. However,
my experience with the tribunal was that the accused's right to self defence
was fully respected."
Now if the
US wants us to believe Zillur Rahman’s Center for Governance Studies is a more
credible institution than those helmed by Sultana Kamal, they are making a vain
effort. We know how the ISI funded his so-called glorified interview of war
criminals, along with the self-confessed killer of Sheikh Mujibur Rahman, with
one reportedly recorded in Pakistan, and how they then passed him on to the
Chinese who took care of his TV show. Now the US finds value in him because he
is agreeable, like a few others, to play a role in facilitating regime change
in Bangladesh.
"The
US agenda of demeaning the Hasina government is so preponderant that it goes
all out to support a dangerous group like Jamaat which not only joined the
Pakistani army in 1971 in perpetrating horrible atrocities. They nearly killed
me in 2001 because my liberal views were unacceptable to Jamaat," former
actress-playwright and minister Tarana Halim told a media outlet recently.
Halim, now Central Executive Member of the Awami League, said the West pitches for women's rights and human rights and then in the same breath upholds a group like Jamaat-e-Islami which is determined to impose Shariat law and curb gender rights in Bangladesh.
"The Western hypocrisy is so palpable and annoying. How can they get away
with this," Awami League women leader Shahanaz Parvin Dolly told
Bangladesh media.
A joint secretary at the Jubo Mohila League until the recent reorganisation of party committees, Dolly said the West talks of reconciliation in Bangladesh.
"That is impossible. How can we accommodate Jamaat-e-Islami, which opposed our freedom struggle and sided with Pakistan's occupation army to commit horrible brutalities on our people, especially against our women? As a Bengali woman, I will never accept their attempt to curb women's rights. We can't allow our country to be another Afghanistan," said Dolly.
According to the country’s eminent rights activists, the BNP’s top leadership, Tarique Rahman was convicted in cases of money laundering and holding a strong nexus with proscribed terror outfits during their rule in power back in 2001 to 2006. Tarique is now leading a fugitive life in London, who left the country having submitted an undertaking.
Under the rule of Tarique Rahman, Bangladesh became a hot bed for transnational terrorists while militants enjoyed a free reign with the highest state patronage, while a nefarious attempt known as the 21st grenade attack was executed in collusion with radicals that then opposition leader Sheikh Hasina has narrowly escaped.
Moreover, the absence of BNP’s threat of replication of the 1975-style assassination, calling out rights activists as AL sympathisers, and warning of capturing state power through violence — all that made the report ring hollow, according to experts.
So, from overthrowing the democratically elected Prime Minister Mohammad Mosaddegh in Iran in the 1950s to using hardcore Islamists to fight the Afghan Jihad to backing the most regressive regimes of Saudi Arabia, the US has always found radical forces as ready-to-use material for regime change operations to defeat progressive forces in the Islamic world.
For Washington during the Cold War, Arab or Persian nationalists like Gamal
Nasser, Saddam Hussein or Mossadegh were the principal enemy. On occasions, the
script has gone wrong for Washington when volcanic events like the Islamic
revolution unfolded in Iran in 1979 or when the Taliban took over Afghanistan
in 1996.
Those like us who covered the 1971 Bangladesh Liberation War closely and the events that followed find a continuity in US policy – first in backing the bloodthirsty Pakistan army and followed by Washington's covert backing to the brutal 1975 coup. For the Nixon-Kissinger duo, Bangabandhu Sheikh Mujibur Rahman – the founding father of the nation – was a "Soviet-Indian proxy". So Washington's dislike for Arab nationalists like Nasser easily translated into distrust of Bangali nationalists like Mujib and Sheikh Hasina.
So this ardent US defence of Jamaat in the State Department report proves a
striking continuity in American policy of backing pro-Pakistan forces in
Bangladesh. The US always had problems with passionate nationalists like Indira
Gandhi, Sheikh Mujibur Rahman or Gamal Nasser. Regressive regimes like Saudi
Arabia or Pakistan have always fitted Washington's bill by being too willing to
play by Western strategic interests.
Not to
mention a slew of earlier reports by the country’s leading outlets that laid
bare how Jamaat's former money man Mir Quasem Ali schemed to foil the war crimes
trial with a $25 million deal with one of the most influential US lobby firms,
Cassidy & Associates, for engaging with the US government and the
Bangladesh government "to protect his interest".
Sukharanjan
Dasgupta is a veteran columnist and author of "Midnight Massacre" on
the 1975 Bangladesh coup. As chief correspondent of Anandabazar Patrika, he
reported on the Liberation War by gathering information from freedom fighters
in Bangladesh.
Sukharanjan Dasgupta is a veteran columnist and author of "Midnight Massacre" on the 1975 Bangladesh coup. As chief correspondent of Anandabazar Patrika, he reported on the Liberation War by gathering information from freedom fighters in Bangladesh.
Source: IndiaToday
Comment
Pakistan,
the South Asian nation with a population of over 220 million people, is facing
a severe financial crisis that has put the country on the brink of bankruptcy.
The country's economy has been struggling for several years, with a range of
factors contributing to the crisis. Here are some of the reasons why Pakistan
is on the verge of bankruptcy.
Current
Account Deficit
Pakistan's
current account deficit has been widening rapidly in recent years, meaning the
country is importing more goods and services than it is exporting. According to
the State Bank of Pakistan, the current account deficit for the fiscal year
2020-21 was $1.85 billion, up from $614 million in the previous year. This
deficit puts pressure on Pakistan's foreign exchange reserves and makes it
difficult for the country to repay its external debt obligations.
Foreign
Debt
Pakistan's
external debt has been increasing at an alarming rate, with the total external
debt reaching $116.3 billion in June 2021, up from $73.4 billion in June 2016.
The country's external debt has grown by more than 58% in just five years,
putting immense pressure on the country's finances. Pakistan's external debt is
projected to grow to $134.2 billion by June 2023, according to the
International Monetary Fund (IMF).
Trade
Deficit
Pakistan's
trade deficit has also been widening, with the country importing more goods
than it exports. The trade deficit for the fiscal year 2020-21 was $27.4
billion, up from $23.1 billion in the previous year. The country's exports have
been declining in recent years, and the COVID-19 pandemic has further
exacerbated the situation.
Corruption
and Mismanagement
Corruption
and mismanagement have also contributed to Pakistan's financial crisis.
According to the Transparency International Corruption Perception Index,
Pakistan ranks 124 out of 180 countries, indicating widespread corruption in
the country. The mismanagement of state-owned enterprises, such as Pakistan
International Airlines and Pakistan Steel Mills, has also been a major issue, with
these entities running huge losses and requiring government bailouts.
Energy
Crisis
Pakistan's
energy crisis has also contributed to the country's financial woes. The country
has been facing severe power shortages for many years, with frequent blackouts
and load shedding. The energy crisis has impacted businesses and industries,
leading to a decline in economic growth and investment.
COVID-19
Pandemic
The
COVID-19 pandemic has further exacerbated Pakistan's financial crisis. The
country has been hit hard by the pandemic, with the healthcare system
struggling to cope with the surge in cases. The pandemic has also impacted the
country's economy, with many businesses shutting down and unemployment rising.
IMF
Bailouts
Pakistan has turned to the IMF for financial assistance multiple times in the past, with the country currently on its 22nd IMF bailout program. The IMF has provided Pakistan with loans to stabilize its economy and reduce its external debt, but the country has struggled to implement the required economic reforms, leading to delays in disbursement of funds.
In
conclusion, Pakistan is facing a severe financial crisis that has put the
country on the brink of bankruptcy. The country's current account deficit,
external debt, trade deficit, corruption, mismanagement, energy crisis, and the
COVID-19 pandemic have all contributed to the crisis. Pakistan urgently needs
to implement economic reforms and address these issues to stabilize its economy
and avoid a financial meltdown. The country must also work towards reducing its
reliance on external debt and increasing its exports to boost its economy.
Pakistan Financial crisis Bankruptcy
Comment
US Deputy Assistant Secretary in the Bureau of South and
Central Asian Affairs (SCA) Afreen Akhter has said the United States sees
Bangladesh as a “truly important strategic partner" and looks forward to
working over the next 50 years for a stronger relationship.
She said in the last 50 years Bangladesh-US relations have
seen incredible progress between the peoples, economies and governments.
The people-to-people ties between the two countries are very
deep, she said.
Praising Bangladesh's progress in different sectors, the US
Deputy Assistant Secretary said Bangladesh's economy has expanded from largely
agriculture society to economic powerhouse over the just few decades.
This is a story to really be proud of that Bangladesh has
lifted millions of people out of poverty and the country will achieve the
middle-income status within generations, which is truly remarkable, she said
while speaking at a Victory Day function in Washington.
Beyond the economic cooperation, Afreen mentioned the close
partnership between the two countries in providing COVID-19 vaccines and
addressing climate change issue. She thanked the Bangladesh government for
hosting some 1,1 million Rohingya from Myanmar.
The Bangladesh Embassy in Washington DC celebrated the 52nd Victory Day of
Bangladesh, remembering the valiant freedom fighters who fought and made the
supreme sacrifice for the cause of long-aspired independence.
To commemorate the day, the Embassy arranged a daylong
program.
The day's first part of the programme began with the
hoisting of the national flag ceremonially on the chancery premises in the
morning by Bangladesh Ambassador to the United States Muhammad Imran.
Officials and employees of the embassy were present at that
time.
Later, the Ambassador along with officials and employees of
the embassy placed a wreath at the bust of Father of the Nation Bangabandhu
Sheikh Mujibur Rahman at the Bangabandhu Corner of the embassy.
The messages issued on the occasion of the Victory Day by
President Md. Abdul Hamid, Prime Minister Sheikh Hasina, Foreign Minister Dr.
A.K. Abdul Momen, and State Minister for Foreign Affairs Md. Shahriar Alam were
read out by Deputy Chief of Mission Ferdousi Shahriar, Minister (Commerce) Md.
Salim Reza, Counsellor (Public Diplomacy) Arifa Rahman Ruma and Counsellor
(Political-I) Mohammad Moniruzzman.
A special prayer was held seeking peace, progress and
development of the nation as well as eternal peace of the departed soul of
martyrs of the Liberation War and Bangabandhu Sheikh Mujibur Rahman was
offered.
A discussion was held later.
Ambassador Imran recalled with profound respect the greatest
Bengali of all time and the founding Father of Bangladesh Bangabandhu Sheikh
Mujibur Rahman.
He also paid deep homage to three million martyrs for their
supreme sacrifices and two 2 lakh women who sacrificed in 1971.
The day’s other program ended with a colourful cultural
function.
The artistes of Dhroopodi, a Bangladeshi-American cultural
organisation, performed group dances on patriotic songs.
Counsellor Shameema Yasmin Smrite and First Secretary Md
Ataur Rahman conducted the day’s programme. The embassy also arranged a photo
exhibition on the day.
- UNB
Comment
North Korea fired
around 130 artillery shells into the sea off its east and west coasts on
Monday, South Korea's military said, in the latest apparent military drill near
their shared border.
Some of the shells landed in a buffer zone near the sea
border in what Seoul said was a violation of a 2018 inter-Korean agreement
designed to reduce tensions.
The South Korean military sent several warning
communications to the North over the firing, the ministry of defence said in a
statement.
North Korea did not immediately report on the artillery
fire, but it has been carrying out an increasing number of military activities,
including missile launches and drills by warplanes and artillery units.
South Korea and the United States have also stepped up
military drills this year, saying they are necessary to deter the nuclear-armed
North.
The 2018 Comprehensive Military Agreement (CMA) was the most
substantive deal to come from the months of meetings between leader Kim Jong Un
and then-South Korean President Moon Jae-in.
With those talks long stalled, however, recent drills and
shows of force along the fortified border between the Koreas have cast doubts
on the future of the measures. South Korea has accused the North of repeatedly
violating the agreement with artillery drills this year.
This year North Korea resumed testing of its long-range
intercontinental ballistic missiles (ICBMs) for the first time since 2017, and
South Korea and the United States say it has made preparations to resume
nuclear testing as well.
- Reuters
Comment
A Group of Seven
(G7) price cap on Russian seaborne oil came into force on Monday as the West
tries to limit Moscow's ability to finance its war in Ukraine, though Russia
has said it will not abide by the measure even if it has to cut production.
The G7 nations and Australia on Friday agreed a $60 per
barrel price cap on Russian seaborne crude oil after European Union members
overcame resistance from Poland. Russia is the world's second-largest oil
exporter.
Ukrainian President Volodymyr Zelenskiy said the world had
shown weakness by setting the cap at that level while Russian Deputy Prime
Minister Alexander Novak said on Sunday it was a gross interference that
contradicted the rules of free trade.
"We are working on mechanisms to prohibit the use of a
price cap instrument, regardless of what level is set, because such
interference could further destabilise the market," said Novak, the
Russian government official in charge of its oil, gas, atomic energy and coal.
"We will sell oil and petroleum products only to those
countries that will work with us under market conditions, even if we have to
reduce production a little," he said.
The G7 agreement allows Russian oil to be shipped to
third-party countries using G7 and EU tankers, insurance companies and credit
institutions, only if the cargo is bought at or below the $60 per barrel cap.
Industry players and a US official said in October that
Russia can access enough tankers to ship most of its oil beyond the reach of
the cap, underscoring the limits of the most ambitious plan yet to curb
Russia's wartime revenue.
According to Zelenskiy, the $60 cap would do little to deter
Russia from waging war in Ukraine. "You wouldn't call it a serious
decision to set such a limit for Russian prices, which is quite comfortable for
the budget of a terrorist state."
The United States and its allies have imposed sweeping
sanctions on Russia since it invaded Ukraine on February 24 and sent billions
of dollars in aid to the Ukrainian government.
French President Emmanuel Macron, however, drew criticism
from Ukraine and its Baltic allies over the weekend for suggesting the West
should consider Russia's need for security guarantees if it agrees to talks to
end the war.
Zelenskiy's aide, Mykhailo Podolyak, said the world needed
security guarantees from Russia, not the other way around.
PLANNED BLACKOUTS
In Ukraine, Russia has been pounding power infrastructure
since early October, causing blackouts and leaving millions without heating as
temperatures plummet.
Russia says the assaults do not target civilians and are
meant to reduce Ukraine's ability to fight.
Ukraine says the attacks are a war crime.
Zelenskiy, in a video address on Sunday, urged citizens to
be patient and strong in resisting the rigours of winter.
"To get through this winter, we must be even more
resilient and even more united than ever," he said.
Kyiv Mayor Vitaliy Klitschko said on Telegram that blackouts
would be confined from Monday to planned "stabilisation" cutoffs to
get the grid working again, but added the situation remained
"difficult".
Ukraine's largest power supplier, DTEK, said blackouts were
planned for three other regions - Odesa, Donetsk and Dnipropetrovsk in
Ukraine's south and east.
In Kherson, largely without power since Russian forces
abandoned the southern city last month, the regional governor said 85% of
customers had electricity.
SHELLING ALONG FRONT LINES
On the battlefront, Zelenskiy said Ukrainian forces were
holding positions along the front line, including near Bakhmut, viewed as
Russia's next target in their advance through Donetsk.
Ukraine's military said Russian forces were pressing for
improved tactical positions to advance in the Bakhmut and Avdiivka directions.
About 16 settlements, including Bakhmut and Avdiivka, were shelled by tanks,
mortars, barrel and rocket artillery, the General Staff of Ukraine's armed
forces added.
Russian forces are on the defensive along the Zaporizhzhia
frontline while hitting four settlements in the Donetsk region and six in the
Zaporizhzhia region, Ukraine's army added.
Russia's defence ministry said its troops were conducting
successful operations in the area of Bakhmut and had pushed back Ukrainian
attacks in the Donetsk direction.
Russian-installed officials in the occupied Donetsk said
Ukraine fired at least 10 Grad rockets into the city. There was no word on
casualties.
In Kryvyi Rih, among the largest cities in southern Ukraine,
Russian rockets killed one person and wounded three just after midnight, the
governor of the Dnipropetrovsk region, Valentyn Reznichenko, said.
"They aimed at an industrial enterprise,"
Reznichenko said on the Telegram messaging app without giving details.
Reuters could not independently verify battlefield reports.
The head of US intelligence said fighting in Ukraine was
running at a "reduced tempo" and that militaries on both sides were
looking to refit and resupply to prepare for a counter-offensive after the
winter.
- Reuters
Oil price cap Oil price G7 Russia Ukraine crisis
Comment
The US deep state and policy establishment seems very fond of right-wing Islamist radicals or the 'mullahs'. They used them to bring down Iran's secular nationalist and democratically elected Prime Minister Mohammad Mosaddegh regime when it threatened to nationalise Iran's oil industry in the 1950s.
Pakistan, the South Asian nation with a population of over 220 million people, is facing a severe financial crisis that has put the country on the brink of bankruptcy. The country's economy has been struggling for several years, with a range of factors contributing to the crisis. Here are some of the reasons why Pakistan is on the verge of bankruptcy.
US Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs (SCA) Afreen Akhter has said the United States sees Bangladesh as a “truly important strategic partner" and looks forward to working over the next 50 years for a stronger relationship. She said in the last 50 years Bangladesh-US relations have seen incredible progress between the peoples, economies and governments.
North Korea fired around 130 artillery shells into the sea off its east and west coasts on Monday, South Korea's military said, in the latest apparent military drill near their shared border. Some of the shells landed in a buffer zone near the sea border in what Seoul said was a violation of a 2018 inter-Korean agreement designed to reduce tensions.
A Group of Seven (G7) price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, though Russia has said it will not abide by the measure even if it has to cut production. The G7 nations and Australia on Friday agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland. Russia is the world's second-largest oil exporter.