UK pushes for lower Russian oil cap as PM denies coalition of the willing is dead

Yahoo

15 hours ago

Talks towards tightening the Russian oil price cap are ongoing, Sir Keir Starmer said as he denied plans for a so-called 'coalition of the willing' to protect Ukraine were dead.
The Prime Minister said he 'strongly' believes that restrictions on the price of Russian crude oil should be strengthened to deplete the revenues Vladimir Putin uses to fund his war machine.
The UK announced sanctions on 30 fresh targets linked to the Kremlin on Tuesday in a bid to ramp up pressure on Moscow as it continues resist calls for an unconditional ceasefire in Ukraine.
A wider package of measures which Sir Keir suggested would be forthcoming from allies gathered at the G7 summit in Canada is yet to materialise after splits opened up in the approach to Russia on Monday.
Downing Street said Britain also plans to 'move with partners to tighten the oil price cap' after the group of the world's wealthiest countries agreed in 2022 to restrict the price Russian crude oil to 60 dollars a barrel.
Speaking to reporters with him in Kananaskis, Sir Keir was asked whether such a move would be possible without the backing of the US, which has indicated reluctance to impose further sanctions on Moscow.
'Obviously today we're going to focus on Ukraine,' Sir Keir said.
'We've got President (Volodymyr) Zelensky coming in. We're putting in extra sanctions today, including sanctions on the shadow fleet.
'Others will be doing, similar actions in coming days. And so that does ramp up the pressure.
'On the oil price, obviously, we're still looking at how we're going to make that work. But I strongly believe that we have to put those sanctions in place. We're having those discussions with President Zelensky today.'
Before abruptly leaving the summit on Monday, US President Donald Trump suggested he wanted to wait to 'see whether or not a deal is done' with Ukraine before targeting the Kremlin with further action.
His remarks are awkward for Sir Keir, with whom he appeared to announce the completion of the US-UK trade deal, after the Prime Minister said G7 allies would seek to target Russian energy revenues.
Talks to broker a possible peace in Ukraine have stalled as Moscow continues to pound the country with missile and drone attacks and holds out on US-backed proposals for an unconditional truce.
Meanwhile, the UK and France have been leading efforts to assemble a so-called 'coalition of the willing' made up of nations prepared to send peacekeeping troops to Kyiv to enforce a potential truce.
Asked whether those plans were dead in the water, Sir Keir told reporters: 'On the coalition of the willing, no, not at all. That is obviously intended to answer the question, how do you ensure that if a deal is reached, a deal is kept so it's a lasting deal?
'Because the concern, has always been, that there have been deals, if you like, before, Putin has then subsequently breached them.
'So how do you stop that happening again? And the military planning is still going on, as you would expect, so that, when the time comes, we're ready to act.'
Mr Zelensky is attending the G7 conference in Kananaskis, along with leaders from Canada, the US, France, Italy, Japan, Germany and Britain.
The Russian invasion is the top of the agenda on Tuesday, with Sir Keir also meeting the Ukrainian leader for face-to-face talks on the sidelines of the summit.
Earlier, the UK announced sanctions targeting 20 oil tankers in Russia's shadow fleet, as well as measures to tighten the net around companies managing the vessels, Orion Star Group LLC and Valegro LLC-FZ.
Britain also targeted two UK residents – Vladimir Pristoupa and Olech Tkacz – who the Government said had operated 'a shadowy network of shell companies' aiding Moscow.
The branch of the Russian defence ministry leading the country's underwater intelligence gathering operations, known as Gugi, has also been sanctioned.
Sir Keir said: 'These sanctions strike right at the heart of Putin's war machine, choking off his ability to continue his barbaric war in Ukraine.
'We know that our sanctions are hitting hard, so while Putin shows total disregard for peace, we will not hesitate to keep tightening the screws.
'The threat posed by Russia cannot be underestimated, so I'm determined to take every step necessary to protect our national security and keep our country safe and secure.'