Russia
China quietly increases purchases of low-priced Russian oil
China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February. The move by the world’s biggest oil importer comes a month […]
Read More
Vaccinated and tested, the rich and powerful descend on the snowless hills of Davos
The World Economic Forum is returning to Davos in May after cancelling previous meetings because of the coronavirus pandemic. Fabrice Coffrini | Afp | Getty Images The rich, famous and most powerful are once again returning to the Alpine retreat of Davos, Switzerland, next week following a two year coronavirus-induced hiatus that had forced the […]
Read More
‘Who is talking about climate change now?’ What the Ukraine war means for global heating
A group of Ukrainian women demonstrate to call for further action against Russia near the headquarters of the EU Commission in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images LONDON — Reflecting on energy markets just over one month into Russia’s onslaught in Ukraine, Saudi Arabia’s top energy official said: “Look at […]
Read More
Stephen Roach calls stagflation his base case, warns market is unprepared for the consequences
Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the U.S. is on a dangerous path that leads to higher prices coupled with slower growth. “This inflation problem is widespread, it’s persistent and likely to be protracted,” Roach told CNBC’s “Fast Money” on Thursday. “The markets are not […]
Read More
Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high
A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now costs $4, or $5, and […]
Read More
McDonald’s to sell Russian business to existing Siberian licensee
The Kremlin’s towers and passers-by are seen reflected in the window of a closed McDonald’s restaurant in Moscow on May 16, 2022. Natalia Kolesnikova | AFP | Getty Images McDonald’s said Thursday it has struck a deal to sell its Russian business to Alexander Govor, its current licensee in the market. Govor will acquire all […]
Read More
Russia says it has sent 900 Ukrainian soldiers to prison camp; U.S. reopens embassy in Kyiv
Ukraine’s presidential advisor says the war is unlikely to end by fall Local boys sit on a swing in the yard of an apartment building destroyed by the Russian army airstrike in Ukraine May 13, 2022. The war in Ukraine is expected to continue through the summer and possibly beyond, presidential advisor Oleksii Arestovych said, […]
Read More
Two maps show NATO’s growth — and Russia’s isolation — since 1990
A Swedish soldier takes part in exercises on May 17, 2022. Her country, along with Finland, now wants to join NATO. Jonathan Nackstrand | Afp | Getty Images Russia has become increasingly isolated from the rest of Europe over the last 30 years, and maps of the continent illustrate just how drastic the change has […]
Read More
‘The whole world is against us’: Russian military analyst gives damning assessment of Ukraine war on state TV
Destroyed military equipment of the Russian army in the city of Bucha. Sopa Images | Lightrocket | Getty Images In a country where independent media and commentary has all but disappeared from public view, it’s rare to hear dissenting voices on the many state-controlled TV networks in Russia — particularly now with the country at […]
Read More
Finland and Sweden formally apply to join the NATO military alliance. Follow our live updates
Finland and Sweden formally applied to join NATO on Wednesday marking another step toward the Western military alliance’s expansion, although the full accession process could take a year and Turkey’s objections need to be overcome. The status of the besieged Azovstal steelworks complex in Mariupol, a heavily-destroyed port city in southern Ukraine, remains unknown with […]
Read More