Germany Steps Up Measures to Conserve Gas as Russia Slows Supply to Europe

BERLIN—Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war between Europe and Russia. Berlin unveiled the measures Sunday after Russia cut gas supplies to Europe last week as it punched back against European sanctions and military support for Ukraine. The … Read more

Is the US economy on a tailspin into recession?

New York: Is the US economy slipping into a recessionary period and have the sanctions on Russia over the Ukraine war in the eastern Donbas region set to boomerang, bringing stocks down and the entire money market into a tailspin reversing the bullish trends to bearish ones. Judging by analysis by various economic experts, billionaires, … Read more

India, Russia apex banks to work on payment system this week

Officials of the Reserve Bank of India (RBI) and the Bank of Russia are set to meet this week to give the finishing touches to a bilateral payment system to ensure smooth trade flows between the two nations without violating global sanctions, people familiar with the matter told ET. Russia faces increasingly tighter sanctions after … Read more

Street fighting, constant shelling as Russia pushes for control of Ukraine’s Donbas

Ukrainian troops were engaged in fierce street fighting with Russian soldiers in the industrial city of Sievierodonetsk, while other towns were under constant shelling, as the Kremlin pushed for control of the eastern Donbas region. Sievierodonetsk has become the main target of the Russian offensive in the Donbas, comprising Luhansk and Donetsk provinces, as the … Read more

Russia ready to help overcome food crisis if West lifts sanctions: Putin

Moscow is ready to make a “significant contribution” to averting a looming food crisis if the West lifts sanctions imposed on Russia over Ukraine, President Vladimir Putin said in a telephone call with Italy’s Prime Minister Mario Draghi. “Vladimir Putin emphasises that the Russian Federation is ready to make a significant contribution to overcoming the … Read more

Ukraine’s richest man plans to sue Russia for huge losses

Ukraine’s richest man says he plans to sue Russia over what he said was $17 billon to $20 billion in losses caused by its bombardment of steel plants he owns in the devastated city of Mariupol. The Azovstal steelworks suffered heavy damage from Russian bombing and shelling after the sprawling plant became the last bastion … Read more

Putin’s war exposed something he has guarded closely for a long time

Vladimir Putin did not like the prying. It was 2008, and the Russian president, then 56 and eight years into his tightening grip on power, stood for a news conference in Sardinia’s lavish Villa Certosa. At his side was his closest ally in Western Europe, Silvio Berlusconi, the media mogul and Italian prime minister of … Read more

Finland says Russia suspending natural gas supplies

Russia will cut off natural gas to Finland after the Nordic country that applied for NATO membership this week refused President Vladimir Putin’s demand to pay in rubles, the Finnish state-owned energy company said Friday, the latest escalation over European energy amid the war in Ukraine. Finland is the latest country to lose the energy … Read more

Russia ranks ‘unfriendly’ nations; US tops chart

Russian State Duma chairman Vyacheslav Volodin has published on social media a list of “unfriendly nations” ranked by the number of anti-Russian sanctions they have imposed. “They are the ones to be blamed for skyrocketing prices worldwide,” his post read on Thursday, RT reported. The list is headed by the US, with 1,983 distinct sanctions … Read more

U.S. considering move to block Russian debt payments – Treasury

The United States is considering blocking Russia’s ability to pay its U.S. bondholders by allowing a key waiver to expire next week, a U.S. administration official said on Tuesday. Bloomberg News reported earlier on Tuesday that the Biden administration is poised to allow the waiver to expire as scheduled on May 25, which could bring … Read more