Foreign policy
Euro zone inflation hits yet another record high as food and energy prices soar
A market in the city center of Bonn, Germany on Feb 5, 2022. Nurphoto | Nurphoto | Getty Images Prices in the euro zone continued their march higher in May, hitting a record high for the seventh month in a row. Inflation came in at 8.1% for the month, according to preliminary figures from Europe’s […]
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EU secures compromise on Russian oil ban; Kremlin claims it now controls a third of key Donbas city
Russian forces claim a third of Sievierodonetsk is now under their control Smoke rises in the city of Sievierodonetsk during heavy fighting between Ukrainian and Russian troops on May 30, 2022. Aris Messinis | Afp | Getty Images Russian forces claimed to have seized control of one-third of the city of Sievierodonetsk, as they continue […]
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EU set to discuss Russian oil embargo; Moscow says Ukraine’s Donbas is an ‘unconditional priority.’ Follow our live updates
After a failed attempt, EU to continue negotiating potential sanctions on Russian oil The EU will continue to work Monday toward an agreement to embargo Russian oil, after attempts to do so on Sunday failed. The talks are largely held up by Hungary, a major user of Russian oil and whose leader Viktor Orban is […]
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U.S. may send long-range rocket systems to Ukraine; Russia captures more villages in Donbas. Follow our live updates
Russian forces capture several villages in the Donbas Russian forces have captured several villages in the Donbas north-west of Popasna, as they make gradual progress in their efforts to surround Severodonetsk and Lysychansk, the U.K.’s Ministry of Defense wrote in its daily intelligence update on Twitter. “Russia is pressuring the Severodonetsk pocket although Ukraine retains […]
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‘Hypocrisy,’ ‘naivety’ and ‘greed’: Europe chided for failing to stop Putin’s war
DAVOS, Switzerland — The European Union failed to counter Russian President Vladimir Putin and needs to now strike flexible alliances across the world and search for new friends, current and former leaders told CNBC on a panel at the World Economic Forum. “We are too Euro-centric on this crisis, in the sense we think this […]
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Russia claims it will allow foreign ships to leave Ukraine ports; intense assault in the Donbas continues
Russia’s elite airborne force ‘mismanaged,’ UK says, leading to tactical failures The Russian Airborne Forces (the VDV) have been heavily involved in several notable tactical failures since the start of Russia’s invasion, according to the latest military intelligence from the U.K.’s Ministry of Defence. Giving three examples of such failures, the ministry said these included: […]
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George Soros says Russia’s gas storage is almost full — and Europe should hold its nerve
Russian President Vladimir Putin delivers a speech during a ceremony honouring the country’s Olympians and Paralympians at the Kremlin in Moscow, Russia April 26, 2022. Maxim Shemetov | Reuters DAVOS, Switzerland — Russian President Vladimir Putin’s bargaining position is “not as strong as he pretends” and Europe has leverage against him, according to billionaire investor […]
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The Indo-Pacific Economic Framework: What it is — and why it matters
U.S. President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington’s long-awaited Asia-Pacific economic strategy. It comes five years after the U.S. unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America. With the U.S. […]
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Saudi finance minister warns of growing global food crisis caused by Ukraine war
Mohammed Al-Jadaan, Saudi Arabia’s finance minister, at the World Economic Forum in Davos, Switzerland Jason Alden | Bloomberg | Getty Images Several countries are raising the alarm over the growing crisis in global food supplies triggered by Russia’s invasion of Ukraine. The warring states are among the world’s top agricultural exporters and feed much of […]
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‘Make Russia pay for it’: Ukraine’s Kuleba on the massive cost of post-war reconstruction
The cost of Ukraine’s reconstruction after the country’s devastation by Russian forces will be colossal. Ukrainian officials have estimated it at a potential $600 billion, with some saying that is a modest figure and set to increase as the war drags on. International financial institutions have stressed the need for something like a Marshall Plan […]
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