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G7 price cap on Russian oil kicks in, Russia will only sell at market price

21 Sept 02:53 Key points summarised by AI

The G7, EU, and Australia implemented a $60 per barrel price cap on Russian seaborne oil, aiming to restrict Moscow's ability to finance its war in Ukraine.
The cap's enforcement leverages G7 and EU dominance in global shipping and insurance, allowing Russian oil transport only if sold at or below the specified price.
Russia, the world's second-largest oil exporter, declared it would not comply with the cap, vowing to halt sales to any country enforcing it, even if it means reducing production.
Despite Russia's rejection, the cap's proximity to current market prices might still incentivize continued sales with lower profits; the measure will undergo bi-monthly reviews.

19 Oct 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.