How Much Is China Helping Russia Finance Its War In Ukraine?

China’s growing appetite for discounted Russian oil has made it the leading financier of the Kremlin’s war in Ukraine by giving Moscow a reliable revenue source that blunts the impact of tough Western sanctions against its economy. Four months after Moscow’s invasion of Ukraine, China has overtaken Germany as the biggest single buyer of Russian … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

Russia declares gas war on EU – POLITICO

Press play to listen to this article Russian President Vladimir Putin is playing hardball with the European Union — cutting off gas deliveries to some of Russia’s best customers in a howl at the sanctions imposed after invading Ukraine. It’s putting enormous political pressure on governments, threatens to leave Europeans freezing if this winter is … Read more

Russia puts the gas squeeze on France and Italy – POLITICO

Russia’s Gazprom has cut gas deliveries to France and Italy, just days after their leaders were in Kyiv to formally back Ukraine’s bid to join the EU. That’s raising alarm that a slowdown in deliveries could derail EU efforts to build up supplies ahead of next winter and protect the bloc from Russian energy blackmail. … Read more

wall street news: Wall Street slips into a bear market; here’s what that means

Wall Street opened the week with heavy losses that put the S&P 500 benchmark at a level considered to be a so-called bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks, … Read more

Rice prices are rising amid rising food inflation, export bans

The spider web rice fields in Flores, Indonesia. The United Nations’ Food and Agriculture Organization Food Price Index shows international rice prices creeping up for the fifth straight month to reach a 12-month high, according to the latest May data published last week. Tanutkij Wangsittidej Food prices have been on the rise in the past … Read more

Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns, Yale study finds — and those that stayed are not

The almost 1,000 companies that have opted to pull out of Russia following its unprovoked invasion of Ukraine are not just benefiting from a reputational boost. They are also being rewarded by financial markets, while those who remain behind are being punished. “We find that equity markets are actually rewarding companies for leaving Russia while … Read more

Captured Ukrainian medic’s footage depicts war-torn Mariupol

A Ukrainian medic chronicled her life-saving efforts in war-ravaged Mariupol using a tiny data card later smuggled out of the country inside a tampon by daring reporters. Yuliia Paievska, who was ultimately captured by Russian soldiers, was given the body cam originally to film a Netflix documentary on the Invictus Games, an international sporting event … Read more

Bombarded at home, Ukraine finds symbolic win at Eurovision – POLITICO

TURIN, Italy — While in the third month of fighting Russia’s invasion at home, Ukraine came out victorious at Europe’s musical competition Eurovision. Swept along on a wave of solidarity, the Ukrainian band Kalush Orchestra racked up a popular record vote after performing a catchy folk-rap tune and sending an emotional plea for the bombed … Read more

Russian blockade of Ukraine’s ports puts global food supply at risk

The Russian blockade of Ukraine’s Black Sea ports risks causing a global food crisis, given that Ukraine is one of the world’s top agricultural exporters. Analysts say this shows how Russia is weaponising food in its geopolitical games – but it’s a weapon the EU plans to neutralize by creating a land corridor to Poland’s … Read more