On Wednesday, the Russian rouble weakened further and slipped past 100 to the dollar, heading to record lows. Stock market in Russia continue to be closed. The Russian economy has come under the full weight of Western sanctions following the… Read More ›
In a statement on Wednesday, Russia’s biggest lender Sberbank said, it was exiting from almost all European markets following threats to its staff, property and large cash outflows. The development comes in the wake of the bank reporting a record annual… Read More ›
With Western countries tightening the noose on Russia over its invasion of Ukraine, Moscow’s allies in the emerging markets have begun exploring channels for trade and finance. Members of the erstwhile BRICs group, Brazil, India and China, are treading cautiously… Read More ›
In a statement the Vice-President and EU trade chief Valdis Dombrovskis said, on April 1, the European Union will hold a summit with China in an attempt to diffuse growing tensions between the two. “We know we are in a… Read More ›
The number of Western companies looking to exit from Russia is growing with energy giants BP, Shell, HSBC and the world’s biggest aircraft leasing firm AerCap joining the list. Following Russia’s invasion of Ukraine, Western countries have slapped punitive economic… Read More ›
Energy ministers from European Union countries have agreed to urgently link their power system to Ukraine’s grid. The move would increase Europe’s energy independence from Russia following Russia’s invasion of Ukraine. The invasion by Russia, Europe’s top gas supplier, has… Read More ›
On Monday, Britain introduced a bill in parliament with the aim of intensify a crackdown on what British Prime Minister Boris Johnson termed as “dirty money”. The bill, introduced in response to Russia’s invasion of Ukraine, comes after many lawmakers,… Read More ›
Canada and European nations moved to close their airspaces to Russian aircraft, in an unprecedented step aimed at applying pressuring on Russian President Vladimir Putin to end the invasion of Ukraine. Following the move, in a statement Russian airlines Aeroflot… Read More ›
The fallout of Russia’s invasion of Ukraine has spread to the global aviation industry with two more European countries banning Russian carriers and the European Union saying it would restrict the exports of aircraft parts. Virgin Atlantic and British Airways… Read More ›
British Prime Minister Boris Johnson has unveiled the country’s biggest-ever package of sanctions against Russia targeting banks, members of President Vladimir Putin’s closest circle and wealthy Russian Oligarchs. Many western nations are imposing tough economic sanctions against Russia in response… Read More ›
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