International concern has focused on trying to restore Ukrainian exports of food, now shut by a de facto Russian blockade. Ukraine is one of the world’s leading sources of grain and food oils, leading to fears of global shortages. Russia blames the food crisis on Western sanctions curbing its own exports.
The war has also disrupted energy markets, including Russian shipments of oil and gas to Europe, still the continent’s main source of energy and Moscow’s primary income source. Moscow blames EU sanctions for a decline in gas volumes, saying they prevented it from restoring pipeline pumping equipment.
On Monday, US Treasury Secretary Janet Yellen said Washington is in talks with Canada and other allies to further restrict Moscow’s energy revenue by imposing a price cap on Russian oil.
Moscow, meanwhile, threatened to retaliate against EU member Lithuania for banning transport of coal, metals, construction materials and advanced technology to Kaliningrad, a Russian outpost on the Baltic Sea surrounded by EU territory.
Russia’s foreign ministry summoned Lithuania’s top diplomat and demanded Vilnius reverse the “openly hostile” move or Russia “reserves the right to take actions to protect its national interests.” Lithuania said EU sanctions obliged it to enforce the ban.
Kaliningrad’s governor said Russia’s foreign ministry would summon the EU ambassador to Moscow on Tuesday over the ban.