The United States is providing Ukraine with “more advanced rocket systems and munitions” as Russia’s invasion continues, President Joe Biden said on Tuesday. Writing in a New York Times opinion piece, Biden said that America’s goal in Ukraine is “to see a democratic, independent, sovereign and prosperous Ukraine with the means to deter and defend itself against further…
Biden Confirms US Sending Advanced Rocket Systems, Munitions to Ukraine
June 1, 2022
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LIVE UPDATES: US Agrees to Send Advanced Rockets to Ukraine
The latest on the Russia–Ukraine crisis, June 1. Click here for updates from May 31. US Agrees to Send Advanced Rockets to Ukraine Russian troops fought to take complete control of the eastern industrial city of Sievierodonetsk on Wednesday as the United States said it will provide Ukraine with advanced rockets to help it force Moscow to…
LIVE UPDATES: Russian Forces Advance in Factory City, US to Send Precision Rockets to Ukraine
The latest on the Russia–Ukraine crisis, June 1. Click here for updates from May 31. Russian Forces Advance in Factory City, US to Send Precision Rockets to Ukraine Russian troops on Wednesday pressed their assault on a factory city targeted in their push to grab a swathe of eastern Ukraine, while the United States said…
Today’s Energy Crisis Worse Than Oil Shocks of 1970s, Could Last Longer: IEA Chief
Russia’s invasion of Ukraine has roiled energy markets, with long-term implications for global oil and gas supplies, and the head of the International Energy Agency (IEA) has cautioned that the current energy crisis is “much bigger” and could persist longer than the oil shocks of the 1970s. In the 1970s, there were two significant oil…
US Wheat Crop Hit by Dry Winter Then Soggy Spring, Adding to Global Tightness
May 31, 2022
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North Dakota farmer Dwight Grotberg wanted to plant more wheat this spring to capitalize on soaring prices since Ukraine’s war cut grain exports and left the world short of millions of tons of wheat supply. Heavy rain has prevented Grotberg from planting as much wheat crop as he wanted and is hampering farmers across the…
Gas Prices Hit Record High After EU’s Partial Ban on Russian Oil Imports
Gasoline prices hit a new record on May 31 after the European Union agreed to a partial ban on Russian oil imports by the end of 2022 as part of the sixth package of sanctions against Russia over its invasion of Ukraine. In the United States, prices at the pump rose to a national average of $4.622 per…
Russian Central Bank Plays Down Role of Dollar and Euro at Home and Globally
May 31, 2022
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Russia’s central bank said on Tuesday that the role of the dollar and the euro as global currencies would decline as central banks rethink their strategies after the West froze Russian reserves, suggesting it could consider imposing negative rates for dollar and euro deposits. Unprecedented Western sanctions have frozen around half of Russia’s gold and…
Oil Bull Run Continues as EU Agrees to Ban Most Russian Oil
May 31, 2022
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LONDON—Oil prices extended a bull run on Tuesday after the EU agreed to a partial and phased ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand ahead of the peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, rose $2.11, or 1.7 percent,…
Oil Surge Fans Inflation Fears, Dampens Stocks
May 31, 2022
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LONDON—European shares opened weaker on Tuesday and Wall Street was tipped for a fall, as surging oil prices fanned fears of further acceleration in global inflation, forcing the U.S. Federal Reserve and other central banks to keep raising interest rates. Markets ignored signs that China’s economic pain may be abating amid easing COVID-19 curbs and…
Russia’s Gazprom Halts Gas Deliveries to Dutch Trader GasTerra, Effective Immediately
May 31, 2022
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Russia’s Gazprom has cut off gas supplies to Dutch gas trader GasTerra after it had failed to comply with requirements to pay for deliveries in Russian rubles. GasTerra said in a statement on May 30 that it has “decided not to comply with Gazprom’s one-sided payment requirements.” Russian President Vladimir Putin issues a decree in March stating that from…
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