On Monday, the Russian rouble hit a new low in weak offshore activity, with local markets suspended for trading until at least Wednesday. According to Refinitiv data, the rouble fell to 133.5 per dollar after closing at 121.037 on Friday…. Read More ›
Day: March 7, 2022
US And Its European Allies Are Discussing A Ban On Russian Oil Imports
According to US Secretary of State Antony Blinken, the US and its European allies are considering blocking importing of Russian oil, and the White House is working with critical Congressional committees on imposing a ban of their own. European countries are significantly… Read More ›
Russian banks increase usage of China’s SWIFT alternative UnionPay
With VISA and Mastercard deciding to withdraw from Russia following its invasion of Ukraine, the Russia’s central bank said local lenders could look to using China’s UnionPay system. It also went on to add, Russian-issued Mastercard and Visa cards would… Read More ›
US gasoline prices continue to rise, Russia China trade continues to grow despite sanctions
In a statement auromobile club AAA said, U.S. gasoline prices at pump stations have soared by 11% in the last week touching their highest levels since July 2008. Global sanctions on Russia has blocked Russia’s ability to export crude oil… Read More ›
Ukraine introduces export license for key agricultural products
As per a report from Interfax, Ukraine has introduced export licenses for its key agriculture commodities including wheat, corn and sunflower oil. Traders will also need licences to export poultry and eggs. Incidentally, Ukraine is among the world’s leading producers… Read More ›
Denmark boosts defense spending to 2% of GDP by 2033
In a statement Danish Prime Minister Mette Frederiksen said, Denmark will significantly increase its defence budget and aims to slash its dependence on Russian natural gas following Russia’s invasion of Ukraine. Denmark aims to increase its defence spending gradually to… Read More ›
New Zealand expands sanctions on Russia
On Monday , New Zealand’s government stated, it will introduce legislation to allow it slap a first-of-its-kind sanctions against Russia following its invasion of Ukraine. New Zealand’s Prime Minister Jacinda Ardern said, the sanctions will give the country the ability… Read More ›