Ukraine and One NATO Member State Extend Shell Production (1:15 p.m.)
The state-run Ukroboronprom said it started making 125mm shells for tanks and has already delivered the first shipment to the frontline, the company said on Telegram.
It’s the second type of shells that is being made in cooperation with a NATO member country, which was not identified for security reasons. The production is located outside Ukraine but Ukrainian designers and experts are involved in the process.
Most Russian Oil Sold Outside G-7 Priuce Cap, US Says (1 p.m.)
The bulk of Russian seaborne oil is still being sold outside the price cap imposed by the Group of Seven nations late last year, according to remarks to be given by a US Treasury official Tuesday in Washington.
“About 75% of the trade of Russian seaborne oil occurs outside of the price cap,” Assistant Treasury Secretary Ben Harris is expected to say, according to a copy of his remarks seen by Bloomberg and citing a report he didn’t identify. “That means no Western services are involved in the transaction and, therefore, these trades do not violate or evade sanctions.”