**Ukraine’s President Demands Harsher Measures Against Russia**
As the war in Ukraine escalates, President Volodymyr Zelensky has called for a drastic reduction in the price cap on Russian oil. In an evening address on June 10, Zelensky urged Western leaders to cut the cap from $60 to just $30 per barrel.
According to Zelensky, this is necessary to put real pressure on Russia and force them to seek peace. The current price cap was introduced in December 2022 by the Group of Seven (G7) and EU as a mechanism to limit the Kremlin’s ability to finance the war in Ukraine. However, the president believes that stronger measures are needed.
The proposed reduction in the oil price cap comes after the European Commission unveiled its 18th package of sanctions against Russia. The new sanctions include a proposed cut from $60 to $45 per barrel, which Zelensky has dubbed a “compromise price”. He argues that this is not enough and that further cuts are needed to truly hurt Russia’s economy.
Zelensky’s comments come as the situation on the ground in Ukraine continues to deteriorate. The president reported an escalation of Russian attacks, with increased numbers of lethal weapons being used in strikes against Ukrainian cities. He emphasized the need for urgent international pressure and tightened economic restrictions to bring about a peaceful resolution.
**The G7 Summit: A Crucial Moment**
The EU Commission President, Ursula von der Leyen, has confirmed that the proposed amendments to the price cap will be discussed at the upcoming G7 summit on June 15-17. This meeting could prove crucial in determining the course of action for Western leaders in response to Russia’s aggression.
Zelensky’s call for a drastic reduction in the oil price cap is likely to be met with resistance from some Western countries, including the United States. The Financial Times has reported that the US blocked a previous proposal to cut the price cap at a G7 summit in May.
**A Difficult Road Ahead**
The situation on the ground in Ukraine continues to be dire, with civilians and soldiers alike bearing the brunt of Russia’s aggression. As the war rages on, it is clear that there will be no easy solutions or quick fixes.
However, as Zelensky’s address demonstrates, there are still those who are pushing for a more assertive approach towards Russia. The question now is whether Western leaders will take heed of this call to action and work together to bring about a lasting peace in Ukraine.
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