BRUSSELS: European Union envoys are on the verge of agreeing an 18th package of sanctions against Russia for its full-scale invasion of Ukraine that would include a lower price cap on Russian oil, four EU sources said after a Sunday meeting.
The sources said all the elements of the package had been agreed, although one member state still has a technical reservation on the new cap.
The sources — speaking on condition of anonymity to discuss confidential talks — said they expect to reach a full agreement on Monday, ahead of a foreign ministers’ meeting in Brussels the following day that could formally approve the package.
The sources said they had also agreed to a dynamic price mechanism for the price cap. On Friday, the European Commission proposed a floating price cap on Russian oil of 15 percent below the average market price of crude in the previous three months.
One of the sources said the initial price would be around $47 a barrel based on the average price of Russian crude for the last 22 weeks minus 15 percent. Further, the price would be revised based on the average oil price every six months instead of the proposed three months.
Slovakia — which has held up the proposed package — is still seeking reassurances from the European Commission on its concerns about plans to phase out Russian gas supply but it has agreed to the new measures, the sources said.
Sanctions require unanimity among the EU’s member countries to be adopted.
The Group of Seven (G7) price cap, aimed at curbing Russia’s ability to finance the war in Ukraine, was originally agreed in December 2022. The European Union and Britain have been pushing the G7 to lower the cap for the last two months after a fall in oil futures made the current $60 a barrel level largely irrelevant.
The cap bans trade in Russian crude oil transported by tankers if the price paid was above $60 per barrel and prohibits shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for less than the price cap.
The Commission proposed the package in early June, aimed at further cutting Moscow’s energy revenues, including a ban on transactions with Russia’s Nord Stream gas pipelines, and financial network that helps it circumvent sanctions.
Another one of the sources said the new package will list a Russian-owned refinery in India, two Chinese banks, and a flag registry. Russia has used flags of convenience for its shadow fleet of ships and oil tankers.
EU envoys near agreement on lower Russian oil price cap
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EU envoys near agreement on lower Russian oil price cap
Mystery of CIA’s lost nuclear device haunts Himalayan villagers 60 years on
- Plutonium-fueled spy system was meant to monitor China’s nuclear activity after 1964 atomic tests
- Porter who took part in Nanda Devi mission warned family of ‘danger buried in snow’
NEW DELHI: Porters who helped American intelligence officers carry a nuclear spy system up the precarious slopes of Nanda Devi, India’s second-highest peak, returned home with stories that sent shockwaves through nearby villages, leaving many in fear that still holds six decades later.
A CIA team, working with India’s Intelligence Bureau, planned to install the device in the remote part of the Himalayas to monitor China, but a blizzard forced them to abandon the system before reaching the summit.
When they returned, the device was gone.
The spy system contained a large quantity of highly radioactive plutonium-238 — roughly a third of the amount used in the atomic bomb dropped by the US on the Japanese city of Nagasaki in the closing stages of the Second World War.
“The workers and porters who went with the CIA team in 1965 would tell the story of the nuclear device, and the villagers have been living in fear ever since,” said Narendra Rana from the Lata village near Nanda Devi’s peak.
His father, Dhan Singh Rana, was one of the porters who carried the device during the CIA’s mission in 1965.
“He told me there was a danger buried in the snow,” Rana said. “The villagers fear that as long as the device is buried in the snow, they are safe, but if it bursts, it will contaminate the air and water, and no one will be safe after that.”
During the Sino-Indian tensions in the 1960s, India cooperated with the US in surveillance after China conducted its first nuclear tests in 1964. The Nanda Devi mission was part of this cooperation and was classified for years. It only came under public scrutiny in 1978, when the story was broken by Outsider magazine.
The article caused an uproar in India, with lawmakers demanding the location of the nuclear device be revealed and calling for political accountability. The same year, then Prime Minister Morarji Desai set up a committee to assess whether nuclear material in the area near Nanda Devi could pollute the Ganges River, which originates there.
The Ganges is one of the world’s most crucial freshwater sources, with about 655 million people in India, Nepal, and Bangladesh depending on it for their essential needs.
The committee, chaired by prominent scientists, submitted its report a few months later, dismissing any cause for concerns, and establishing that even in the worst-case scenario of the device’s rupture, the river’s water would not be contaminated.
But for the villagers, the fear that the shell containing radioactive plutonium could break apart never goes away, and peace may only come once it is found.
Many believe the device, trapped within the glacier’s shifting ice, may have moved downhill over time.
Rana’s father told him that the device felt hot when it was carried, and he believed it might have melted its way into the glacier, remaining buried deep inside.
An imposing mass of rock and ice, Nanda Devi at 7,816 m is the second-highest mountain in India after Kangchenjunga.
When a glacier near the mountain burst in 2021, claiming over 200 lives, scientists explained that the disaster was due to global warming, but in nearby villages the incident was initially blamed on a nuclear explosion.
“They feared the device had burst. Those rescuing people were afraid they might die from radiation,” Rana said. “If any noise is heard, if any smoke appears in the sky, we start fearing a leak from the nuclear device.”
The latent fear surfaces whenever natural disasters strike or media coverage puts the missing device back in the spotlight. Most recently, a New York Times article on the CIA mission’s 60th anniversary reignited the unease.
“The apprehensions are genuine. After 1965, Americans came twice to search for the device. The villagers accompanied them, but it could not be found, which remains a concern for the local community,” said Atul Soti, an environmentalist in Joshimath, Uttarakhand, about 50 km from Nanda Devi.
“People are worried. They have repeatedly sought answers from the government, but no clear response has been provided so far. Periodically, the villagers voice their concerns, and they need a definitive government statement on this issue.”
Despite repeated queries whenever media attention arises, Indian officials have not released detailed updates since the Desai-appointed committee submitted its findings.
“The government should issue a white paper to address people’s concerns. The white paper will make it clear about the status of the device, and whether leakage from the device could pollute the Ganges River,” Soti told Arab News.
“The government should be clear. If the government is not reacting, then it further reinforces the fear.”
