Russia retaliates on oil price cap as eastern Ukraine sees heavy fighting

The price cap, unseen even in the times of the Cold War between the West and the Soviet Union, is aimed at crippling Moscow's military efforts in Ukraine - without upsetting markets

Russia retaliated on Tuesday against a price cap on its oil imposed by Western countries, while its forces were involved in heavy fighting around the bombed-out ghost town of Bakhmut in eastern Ukraine.

Despite an intensification in the fighting the frontline in eastern Ukraine remains little changed, with neither side making any major advances, said Britain's Ministry of Defence and Ukraine military analysts.

Moscow will ban oil sales to countries that abide by the price cap that was imposed on Dec. 5, President Vladimir Putin decreed.
 

The price cap, unseen even in the times of the Cold War between the West and