The European Union will join the G7 powers in imposing a USD 60-per-barrel price cap on Russian oil, Warsaw’s Ambassador to the EU Andrzej Sados said. Poland, which was promoting a lower cap, has now withdrawn its objection to the EU proposal, and the deal will be made official in the coming days. Andrzej Sados said the mechanism in the final deal would keep the price cap at least 5% below the market rate.

“The G7, European Union, and Australia have now jointly set a cap on the price of seaborne Russian oil that will help us achieve our goal of restricting Putin’s primary source of revenue for his illegal war in Ukraine while simultaneously preserving the stability of global energy supplies”, said Treasury Secretary Janet Yellen.

“The EU agreement on an oil price cap, coordinated with G7 and others, will reduce Russia’s revenues significantly. It will help us stabilize global energy prices, benefitting emerging economies around the world”, European Commission President Ursula von der Leyen said.

The oil price cap will run alongside the EU's ban on imports of Russian oil, which comes into effect on Monday, and member states hope it will be the most damaging hit yet against the industry fuelling President Vladimir Putin's Russian war machine.

The European Union is jeopardizing its own energy security by setting a price cap on Russian seaborne oil, the chair of the Russian lower house’s foreign affairs committee Leonid Slutsky said.

 Ukraine’s security service has raided 9 Orthodox Church buildings in three districts to counter subversive activities of Russian special services in Ukraine. "We have taken some steps to guarantee the spiritual independence of our people. There will be more steps. Ukraine will never stop halfway again”, Ukraine’s President Volodymyr Zelensky said.