Bruno Le Maire, France’s Minister of the Economy, has pledged that his country will “wage a total economic and financial war on Russia,” outlining how Europe will seek to punish Moscow and President Vladimir Putin over the invasion of Ukraine. Speaking to Franceinfo on Tuesday, the government minister was clear that sanctions will be “applied” to individuals and entities…

The UK has added Russian financial major Sber to its sanctions list in connection with Moscow’s ongoing military operation in Ukraine, blocking the bank’s access to the British pound. As stated in the document published by Britain’s Treasury on Tuesday, sanctions were imposed against correspondent accounts of Sber, and the bank is also prohibited from…

Russia is temporarily halting the exit of foreign investments from the country, Prime Minister Mikhail Mishustin has announced on Tuesday. “We hope that those who have invested in our country will be able to continue to do so in the future. I am sure that the sanctions pressure will eventually subside, and those who will…

Russia’s central bank more than doubled interest rates on Monday in an attempt to steady the country’s financial markets, after unprecedented western sanctions sent the rouble tumbling as much as 29 per cent. The central bank boosted its main interest rate to 20 per cent from 9.5 per cent in an emergency decision, saying that…

Norwegian oil and gas company Equinor will stop all new investments in Russia and begin to exit its joint ventures there, the company said in a statement Monday. “We are all deeply troubled by the invasion of Ukraine, which represents a terrible setback for the world,” said Anders Opedal, president and CEO of Equinor. The…

Australia’s satellite operator, Foxtel, has notified RT on Saturday that it is suspending the channel’s broadcast distribution in Australia as part of its services “in view of concern about the situation in Ukraine.” The operator will then further “consider” its rights under the channel license agreement, it added, without elaborating on any potential additional measures.…

China has relaxed restrictions on imports of Russian wheat, a move that could address food security concerns in the world’s second largest economy and ease the impact of Western sanctions on Russia. The decision to allow imports of wheat from all regions of Russia was made during Russian President Vladimir Putin’s visit to Beijing earlier this month, but…

If anything happens to those exports, whether through warfare or sanctions, the impact will be severe. “The price impact of the withdrawal of such amount of wheat would be extraordinary, especially because the demand for human consumption of wheat is very inelastic,” said Carlos Mera, senior commodity analyst at RaboResearch, in a Linkedin post in January laying…

SOURCE CNN –  European Union leaders have been considering what some are calling the “nuclear option” of removing Russia from SWIFT, a high-security network that connect thousands of financial institutions around the world, following the invasion of Ukraine. US President Joe Biden said Thursday that removing Russia from SWIFT is not the direction the rest of Europe…

CNN – US President Joe Biden gave an address on the situation in Ukraine, condemned Russia for launching the military strike on Thursday, and announced new strong sanctions and limitations on what can be exported to Russia. “This is going to impose severe cost on the Russian economy, both immediately and over time. We have purposefully designed these sanctions…