How Much Is China Helping Russia Finance Its War In Ukraine?

How Much Is China Helping Russia Finance Its War In Ukraine?

China’s growing appetite for discounted Russian oil has made it the leading financier of the Kremlin’s war in Ukraine by giving Moscow a reliable revenue source that blunts the impact of tough Western sanctions against its economy. Four months after Moscow’s invasion of Ukraine, China has overtaken Germany as the biggest single buyer of Russian … Read more

Russia’s ruble is at its strongest level in 7 years despite sanctions

Russia’s ruble is at its strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

Russia declares gas war on EU – POLITICAL

Russia declares gas war on EU – POLITICAL

Press play to listen to this article Russian President Vladimir Putin is playing hardball with the European Union – cutting off gas deliveries to some of Russia’s best customers in a howl of rage at the sanctions imposed after invading Ukraine. It’s putting enormous political pressure on governments, threats to leave Europeans freezing if this … Read more

Russia puts the gas squeeze on France and Italy – POLITICO

Russia puts the gas squeeze on France and Italy – POLITICO

Russia’s Gazprom has cut gas deliveries to France and Italy, just days after their leaders were in Kyiv to formally back Ukraine’s bid to join the EU. That’s raising alarm that a slowdown in deliveries could derail EU efforts to build up supplies ahead of next winter and protect the bloc from Russian energy blackmail. … Read more

wall street news: Wall Street slips into a bear market; here’s what that means

wall street news: Wall Street slips into a bear market;  here’s what that means

Wall Street opened the week with heavy losses that put the S&P 500 benchmark at a level considered to be a so-called bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks, … Read more

Rice prices are rising amid rising food inflation, export bans

Rice prices are rising amid rising food inflation, export bans

The spider web rice fields in Flores, Indonesia. The United Nations’ Food and Agriculture Organization Food Price Index shows international rice prices creeping up for the fifth straight month to reach a 12-month high, according to the latest May data published last week. Tanutkij Wangsittidej Food prices have been on the rise in the past … Read more

Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns, Yale study finds – and those that stayed are not

Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns, Yale study finds – and those that stayed are not

The almost 1,000 companies that have opted to pull out of Russia following its unprovoked invasion of Ukraine are not just benefiting from a reputational boost. They are also being rewarded by financial markets, while those who remain behind are being punished. “We find that equity markets are actually rewarding companies for leaving Russia while … Read more

Five US states order halt to NFT sales by metaverse casino with alleged Russia ties

Five US states order halt to NFT sales by metaverse casino with alleged Russia ties

Regulators in five states simultaneously filed emergency orders Wednesday against a virtual casino they say has ties to Russia and that has been operating in the metaverse, a digital world where participants can interact with each other, purchase products and even gamble. State law enforcement officials say Flamingo Casino Club’s operators failed to disclose its … Read more

How China is contributing to higher inflation worldwide in three areas

How China is contributing to higher inflation worldwide in three areas

Restrictions and tariffs imposed by China on two major commodities – fertilizer and pork – have caused prices to rise worldwide. Deng Gang | Visual China Group | Getty Images Russia is guilty of creating a food security crisis and higher energy prices through its war with Ukraine, but China has – under the radar … Read more

Cryptocurrency group lobbies Congress against bills that target Russian oligarchs

Cryptocurrency group lobbies Congress against bills that target Russian oligarchs

The cryptocurrency industry has been quietly lobbying US lawmakers against legislation designed to prevent Russian oligarchs from using digital currencies to evade sanctions imposed on Russian President Vladimir Putin’s allies and their companies following Russia’s attack on Ukraine. The Blockchain Association, a lobbying group that represents more than 70 crypto platforms including Ripple, Crypto.com and … Read more