BRUSSELS (Reuters) -The European Commission proposed on Friday a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats said.

Oil prices rose on Friday after U.S. President Donald Trump said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer, while tariff concern and rising OPEC+ output capped gains.

President Donald Trump said he plans to make a “major statement” on Russia, as the US prepares to send a volley of new American weapons to Ukraine via purchases from NATO allies.

(Reuters) -Ukrainian President Volodymyr Zelenskiy said he had discussed improved air defences and intensified sanctions against Russia with two U.S. lawmakers who are backing a bill to impose tougher punitive measures against Moscow.

Officials say a Russian drone barrage has targeted the center of Kharkiv, injuring nine people and damaging a maternity hospital in Ukraine’s second-largest city.

Italy said on Thursday that firms that have helped Russia fund its war on Ukraine by doing business with the country should be excluded from profiting from Ukraine's reconstruction.