In its latest update on Telegram, Russia's MOD said its forces had conducted attacks on Ukrainian units in Kharkiv, Donetsk (in the east) and Zaporizhzhia and Kherson in the south, claiming to have killed several hundred Ukrainian troops and destroyed a variety of weaponry in its various attacks. The MOD acknowledged that its units have been able to maintain their positions toward the south of the country despite "repelling superior enemy forces' attacks." Russia's Ministry of Defense said it continues to hold positions in the regions of Kherson in southern Ukraine despite advances from Ukrainian forces. Wednesday's meeting in Vienna was attended in person by Russian Deputy Prime Minister Alexander Novak. This is especially important for Moscow given that the European Union is preparing to impose a Russian oil embargo, and G-7 nations are finalizing plans to impose a limit on the price that G-7 nation oil transporters are allowed to pay for Russian oil they plan to ship to Asia and Africa. The Kremlin is heavily dependent on oil export revenue to fund its war in Ukraine, and its own petroleum production has fallen since the start of the invasion.īy limiting the cartel's overall production, however, member nations are helping Russia maintain market share even as its production in absolute terms drops off. The newly announced production cut will buoy Russia's oil revenue heading into winter, when demand for Russian energy from Europe and Central Asia typically rises. The OPEC+ d ecision to approve a larger-than-expected output cut of 2 million barrels per day is poised to benefit Russia in a number of ways.
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