Russia
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 […]
Read More
‘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 […]
Read More
We have to accept in the West that we are going to be a bit poorer, Dutch leader says
Dutch Prime Minister Mark Rutte told CNBC that there is a “limit to what a government can do” to help people amid surging inflation. Pictured here, on February 23 2022, are containers being transported in the port of Rotterdam, in the Netherlands. Picture Alliance | Picture Alliance | Getty Images Dutch Prime Minister Mark Rutte […]
Read More
‘Kissinger still lives in the 20th century’: Ukraine hits back at suggestion it should cede land to Russia
A Ukrainian MP has given what he called a “polite” reply to former U.S. Secretary of State Henry Kissinger’s suggestion that Ukraine should be prepared to cede some territory to Moscow in order to reach a peace deal. “I think Mr. Kissinger still lives in the 20th century and we are in the 21st century […]
Read More
Russia is now exposed to a historic debt default: Here’s what happens next
Russian President Vladimir Putin attends the Collective Security Treaty Organization (CSTO) summit at the Kremlin in Moscow, Russia May 16, 2022. Sergei Guneev | Sputnik | via Reuters The U.S. has announced that it will not extend an exemption permitting Moscow to pay foreign debt to American investors in U.S. dollars, potentially forcing Russia into […]
Read More
Situation in Donbas region ‘very difficult,’ Zelenskyy says; civilization may not survive Putin’s war, Soros warns
Civilization may not survive Putin’s war in Ukraine, George Soros says Liberal billionaire George Soros has said Russia’s invasion of Ukraine could be looked back on as the starting point of World War III. At his annual dinner amid the World Economic Forum on Tuesday evening, Soros said the course of history had changed dramatically since the […]
Read More
Ukraine uses Davos to make its pitch to the West — and takes over Russia’s former party hub
The “Russian Warcrimes House” is showing a picture exhibition documenting alleged war crimes taking place in Ukraine. Organizers hope this will help the Davos elite taking future decisions about the war. Fabrice Coffrini | AFP | Getty Images DAVOS, Switzerland — The war in Ukraine is top of the agenda at the World Economic Forum […]
Read More
U.S. bars Russia from paying bondholders through American banks, increasing default risk
The Kremlin towers and Ivan the Great Cathedral in Moscow. Kirill Kudryavtsev | Afp | Getty Images The Biden administration will ban Russia’s government from paying bondholders through American banks starting Wednesday morning, the Treasury Department said. The move increases the odds that Russia will default on its outstanding debt. It is the latest sanction […]
Read More
Palantir CEO weighs in on the Ukraine war: ‘The lesson for every big country is holy s—‘
Alex Karp, CEO of Palantir arrives ahead of a “Tech For Good” meetup at Hotel Marigny in Paris on May 15, 2019, held to discuss good conduct for technology giants. Bertrand Guay | AFP | Getty Images Palantir CEO Alex Karp believes that the war between Russia and Ukraine is making big countries re-consider their […]
Read More
Burning gas to produce electricity is ‘stupid,’ the CEO of power giant Enel says
Enel CEO Francesco Starace photographed in 2019. In an interview with CNBC on May 24, 2022, Starace said “you can produce electricity better, cheaper, without using gas.” Giulio Napolitano | Bloomberg | Getty Images The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling […]
Read More