FRANKFURT—Eurozone countries are spending more than they will get back to cushion the economic hit from the Ukraine war via fuel subsidies and other support measures, the European Central Bank said on Tuesday, telling governments to use their cash more efficiently. The 19 countries that share the euro approved support measures worth 0.9 percent of…
Euro Area to Get Back Half What It’s Spending on War Fallout: ECB
August 2, 2022
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Business & MarketsCompaniescrisisECBeconomic policieseconomyenergyEuropeeurozoneGold and CommoditiesgrowthinflationMarketsrecessionRussiaRussia-Ukraine WarUkraineWorld
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US Accuses Russia of Using Ukraine Power Plant as ‘Nuclear Shield’
U.S. Secretary of State Antony Blinken on Monday called Russia’s actions around Ukraine’s largest nuclear power plant “the height of irresponsibility,” accusing Moscow of using it as a “nuclear shield” in attacks on Ukrainian forces. Russia in March was accused of firing shells dangerously close to the Zaporizhzhia nuclear power plant as its forces took…
Putin Concedes ‘There Can Be No Winners in a Nuclear War’
Russian President Vladimir Putin said Monday that there would be no winners if a nuclear war broke out and said it should not be considered. “Russia consistently follows the letter and spirit of the [Treaty on the Non-Proliferation of Nuclear Weapons],” Putin wrote, according to state-run media. Moscow’s “obligations under bilateral agreements with the United…
New Zealand Prime Minister Urges China to Condemn Russia’s Aggression Against Ukraine
August 1, 2022
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Asia & PacificChinaInternational RelationsNew ZealandPrime Minister Jacinda ArdernRussia-Ukraine WarWorld
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New Zealand’s prime minister has called on China to reject Russia’s aggression against Ukraine and contribute to ending the war. Speaking at the China Business Summit in Auckland, New Zealand, on Monday, Prime Minister Jacinda Ardern said that Russia’s illegal invasion of Ukraine had placed the international rules and norms “under threat.” “As history shows…
Russia Ramps up Sanctions by Banning 39 UK Politicians and Journalists
David Cameron, Sir Keir Starmer, and BBC presenter Huw Edwards are among the latest UK politicians and journalists to be banned from Russia. The Russian foreign ministry issued a list of 39 newly sanctioned individuals it said are no longer allowed to enter the Russian Federation. It said the action was in response to UK…
OPEC Secretary General Says Russia’s Membership in OPEC+ Is Vital for Success of Agreement
August 1, 2022
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Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesHaitham al-GhaisinflationMarketsOilOPECrecessionRussiaRussia-Ukraine WarWorld
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OPEC’s new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement, Kuwait’s Alrai newspaper reported on Sunday, quoting an exclusive interview with Haitham al-Ghais. He said OPEC is not in competition with Russia, calling it “a big, main and highly influential player in the world energy map,” Alrai…
1st Ship Carrying Ukrainian Grain Leaves the Port of Odesa: Turkey
ANKARA, Turkey—The first ship carrying Ukrainian grain has set off from the port of Odesa, Turkey’s defense ministry said Monday. The Sierra Leone-flagged cargo ship, Razoni left the port of Odesa for Lebanon, the ministry said. A statement from the United Nations said the Razoni is carrying over 26,000 tons of corn. The ship is…
1st Ship Carrying Ukrainian Grain Leaves the Port of Odesa
ANKARA, Turkey—The first ship carrying Ukrainian grain set off from the port of Odesa on Monday under a deal brokered by the United Nations and Turkey that is expected to release large stores of Ukrainian crops to foreign markets and ease a growing food crisis. The Sierra Leone-flagged cargo ship Razoni left Odesa carrying over…
Russian Energy Corporation Gazprom Cuts Off Gas to Latvia
July 31, 2022
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Business & MarketsCompanieseconomyEuropeGazprom CutGold and CommoditiesInternationalLatviaMarketsRussiaRussia-Ukraine WarWorld
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MOSCOW—Russia’s state-owned natural gas corporation said Saturday it has halted shipments to Latvia because of contract violations. In a brief statement, gas giant Gazprom said the shipments were stopped because Latvia broke “terms for extraction of gas.” It did not elaborate. The statement likely referred to a refusal to meet Russia’s demand for gas payments…
Russia Hits Southern Ukraine City, Killing Grain Exporter, Governor Says
July 31, 2022
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Business & MarketseconomyEuropeGold and CommoditiesInternationalMarketsOleksiy VadaturskyRussiaRussia-Ukraine WarUkraineWorld
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KYIV—Heavy Russian strikes hit the southern Ukrainian port city of Mykolaiv overnight and early on Sunday, killing the owner of one of the country’s largest grain producing and exporting companies, the local governor said. Oleksiy Vadatursky, founder and owner of agriculture company Nibulon and his wife, were killed in their home, Mykolaiv Governor Vitaliy Kim…
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