INSUBCONTINENT EXCLUSIVE:
enough and might have to be revisited."We will not accept this price cap," Kremlin spokesman Dmitry Peskov told domestic news agencies,
Monday or soon after, alongside an EU embargo on maritime deliveries of Russian crude oil.The embargo will prevent seaborne shipments of
war chest of billions of euros.But while Kyiv welcomed the price cap earlier Saturday, Ukraine President Volodymyr Zelensky said in his
losses to all countries of the world by deliberately destabilizing the energy market," he argued in his nightly address, describing the
decision on the price cap as "a weak position."It is "only a matter of time when stronger tools will have to be used," Zelensky added.The G7
for the 'war machine'Zelensky, in his speech, appeared to be backing the position that Poland had tried to hold out for before agreeing to
the $60 ceiling late Friday
Warsaw and the Baltic states had argued for a $30 cap.The market price of a barrel of Russian Urals crude is currently around $65 dollars,
just slightly higher than the $60 cap agreed, suggesting the measure may have only a limited impact in the short term.The G7 said it was
since the start of the war in February.Its annual military budget amounts to around 60 billion euros ($63 billion), said Phuc-Vinh Nguyen,
an energy expert at the Institut Jacques-Delors in Paris.The EU embargo on seaborne deliveries follows a decision by Germany and Poland to
stop taking Russian oil via pipeline by the end of 2022.In all, more than 90 percent of Russian deliveries to the European Union will be
a "civilian infrastructure facility" in the eastern city of Kramatorsk, the Ukrainian army said.After suffering humiliating defeats during
October.The strikes have caused sweeping blackouts, and cut off water supplies and heating to civilians at a time when the temperature in
some regions has dropped to minus five degrees Celsius.The authorities have introduced scheduled power cuts several times a day to keep
essential infrastructure working.In eastern Ukraine, where the fighting is still raging, the governor of Luhansk region, Serhiy Haidai, said
the conflict was heavy, "because the Russians had time to prepare." Ukraine's forces were nevertheless slowly moving forward, he
added.Ukraine's presidency said the situation was also difficult in Bakhmut, in the neighbouring Donetsk region, which Russian forces have
been trying to capture since summer.On Saturday, the governor of the southern region of Mykolaiv, Vitaly Kim, urged citizens to "endure" the
referring in particular to the October attack on a bridge linking Moscow-annexed Crimea to the Russian mainland.Putin accused the West of
carrying out "destructive" policies in Ukraine, the Kremlin said, stressing that Western political and financial aid meant Kyiv "completely
the Kremlin claimed to have annexed several Ukrainian regions.The Kremlin also said Saturday that Putin would "in due time" visit the Donbas
region of eastern Ukraine, which he claims to have annexed
But Peskov gave no indication of when this could happen.
