Russia announced that it would stop supplying to countries that introduced the price cap on Russian crude oil in which South Korea participated, heralding an escalation in the war with Ukraine.
On the 22nd, President Yelbira Nabiulina cut Russia's key interest rate by 1.5 percentage points to 8% a year and said, "We will not supply crude oil to countries that set price caps." This will lead to an increase in international crude oil prices," the Voice of America (VOA) reported.
Russia's Deputy Prime Minister Alexander Novak also said in an interview on the 20th that "If the price they say is lower than the cost of producing the oil, Russia will not guarantee the supply of that oil to the world market."
U.S. Treasury Secretary Janet Yellen agreed to participate in the crude oil price cap system at a meeting of Deputy Prime Minister Choo Kyung-ho in Seoul on the 19th.
At the meeting, Minister Chu said, "I agree with the purpose of the introduction and am willing to participate."
In response, Minister Yellen expressed her gratitude for Korea's willingness to participate in the cap system and expressed her hope for Korea's active participation in designing specific systems in the future.
Russia and Iran, the world's first and second largest natural gas reserves, signed an agreement on natural gas development and investment worth $40 billion between Iran's state-run oil company NIOC and Russian state-owned Gazprom on the 19th.
IRNA said, "This strategic cooperation between Iran and Russia's largest energy company covers liquefied natural gas (LNG), gas pipeline installation, and crude oil product production," said IRNA. said business.
Putin met with Iranian President Ebrahim Raishi in Tehran on the same day and met with Supreme Leader Ayatollah Ali Khamenei.
US President Joe Biden failed to reach an agreement to increase oil production with the Crown Prince of Saudi Arabia during a recent trip to the Middle East.
White House NSC Strategic Communications Coordinator John Kirby, citing declassified information at a briefing on the 19th, said, "Russia has plans to claim much of Ukraine's territory as its own. We are starting work and are already appointing illegal proxy officials in occupied territories in Ukraine.”
Russian Foreign Minister Sergei Lavrov said in a state-run RT interview on the 20th that "Russia has changed the calculation method not only for the Donetsk People's Republic (DPR) and the Lugansk (Luhansk) People's Republic (LPR), but also for other regions such as Kherson and Zaporiza. "Western weapons, such as the American high-speed mobile artillery rocket system (HIMARS), were delivered to Ukraine," he said.
"We will help the Ukrainian people liberate themselves from a regime that is very hostile to the people and history," said Russian Foreign Minister Lavrov during a meeting of representatives of the Arab League (ARB) members in Cairo, Egypt on the 24th. support' said.
Syria's foreign ministry announced on the 20th that it had decided to cut off diplomatic relations with Ukraine in accordance with the principle of reciprocity.
The announcement of the severance of diplomatic ties with the Syrian government came after Foreign Minister Faisal Mekhdad visited the Iranian capital Tehran and met with Iranian government officials, and Russian President Putin held a summit with Iran the day before (19th).
Russia resumed operation of 'Nordstream 1', which supplies natural gas to Europe, including Germany, from the 21st, VOA reported citing Reuters and others.
The report on the resumption of the gas pipeline to Germany, citing the operator of Nordstream 1, said that gas supply has started to resume as repairs to the gas turbine, a key equipment for the gas pipeline from Russia to Europe, have been completed.