Sonny Tumbelaka | Afp | Getty Images US Treasury Secretary Janet Yellen discussed the proposed price cap for Russian oil with UK Treasury Secretary Nadhim Zahawi, according to a Treasury statement. Yellen has previously said a cap on Russian oil prices would “deprive Putin of the revenue his war machine needs.” The two also discussed US and UK support for Ukraine, as well as “opportunities to build on the historic sanctions imposed on Russia,” according to the Treasury statement. — Natalie Tam
Ukraine is reportedly shelling the supply bridge in occupied Kherson
Ukrainian armed forces have reportedly shelled the Antonivskyy bridge leading to Russian-held Kherson in southern Ukraine. The armed forces posted a video on social messaging site Telegram last night purporting to show multiple missiles hitting the bridge, one of many leading to Kherson, which was seized early in Russia’s invasion of Ukraine. The reports could not be independently confirmed by CNBC. The bridge is seen as a vital supply route for Russian forces in the city used to keep them supplied with ammunition and other heavy weaponry and equipment. It is not the first time the bridge has come under attack as Ukraine tries to retake the city. Last week, Ukrainian shelling partially damaged the bridge and some reports suggest it may have been destroyed last night, but this has not been confirmed and the condition of the bridge is unknown. -Holly Elliott
Zelensky says Russia is using gas prices to terrorize Europe
Ukrainian President Volodymyr Zelenskyy attends a NATO summit via video link as Russia’s offensive on Ukraine continues, in Kyiv, Ukraine, June 29, 2022. Presidential Press Service of Ukraine | via Reuters Ukrainian President Volodymyr Zelenskyy said Russia is using gas prices to terrorize Europe. “Among other things, the planned increase in gas prices above $2,000 for 1,000 cubic meters in European markets is enough experience to expand sanctions against Russia,” Zelensky said during a night speech. “As is clear to everyone, this is a Russian price scare against Europeans. Using Gazprom, Moscow is doing everything it can to make the coming winter as hard as possible for European countries. The scare must be answered, sanctions are imposed,” he said. added. — Amanda Macias
US Defense Secretary Austin is in talks with his Ukrainian counterpart about more military aid
Defense Secretary Lloyd Austin speaks at a news briefing at the Pentagon on July 20, 2022 in Arlington, Virginia. Anna Moneymaker | Getty Images US Defense Secretary Lloyd Austin spoke with his Ukrainian counterpart and gave an update on the latest US military aid package. Austin assured Ukrainian Defense Minister Oleksii Reznikov that the United States is moving as quickly as possible to deliver equipment to Ukraine. Reznikov also briefed Austin on the situation on the battlefield. The latest security package will include additional High Mobility Artillery Missile Systems, or HIMARS. HIMARS, manufactured by defense giant Lockheed Martin, are designed to launch a variety of missiles from a mobile 5-tonne truck. — Amanda Macias
US Deputy Treasury Secretary Meets French Counterparts to Discuss More Sanctions Against Russia
Wally Adeyemo, U.S. Deputy Secretary of the Treasury, speaks during a press conference at the Department of Justice in Washington, DC, U.S., Monday, Nov. 8, 2021. Ting Shen | Bloomberg | Getty Images Deputy Finance Minister Wally Adeyemo met with government counterparts in Paris this week to discuss additional sanctions imposed on Russia over its war in Ukraine. Adeyemo also spoke with the executive director of the International Energy Agency about a price cap on Russian oil and other ways to limit revenue to fund the Russian military. “Additionally, Deputy Secretary Adeyemo met with financial services executives, as well as economists and scholars to analyze the economic outlook in the United States, France, Europe and globally, and the impact of Russia’s illegal war, particularly on global energy prices and food. insecurity”, according to a statement from the Ministry of Finance. In the months since Russia invaded its former Soviet neighbor, Washington and its allies have imposed rounds of coordinated sanctions that have moved Russia past Iran and North Korea as the world’s most sanctioned country. — Amanda Macias
