India may announce a payment arrangement that would allow it to trade with Russia using local currencies—the rupee and the ruble—according to A. Sakthivel, the president of the Federation of Indian Export Organizations (FIEO). Such a proposed rupee-ruble method would allow India to continue trade with Russia even as Western sanctions have disrupted international payment…
Rupee-Ruble Trade Under Consideration, Says Head of Indian Export Group
March 29, 2022
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Asia & PacificBusiness & Economycommoditieseconomic policieseconomyEuropeMarketsoil tradeRussia India relationsRussia-Ukraine WarRussian Oil BanWorld
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Russia’s Gazprom Says Gas Shipments via Ukraine to Europe Continue: Interfax
Russian state-owned energy giant Gazprom said on Sunday that it was continuing to supply natural gas to Europe via Ukraine in line with requests from European consumers, the news agency Interfax reported. The agency reported that requests stood at 109.6 million cubic meters (mcm) for March 27, slightly up from 109.5 mcm a day earlier.
Moscow Will Consider Bitcoin, Gold, and Ruble Payments for Natural Gas
Russia is open to being paid for its energy products in gold, local currencies, and even Bitcoin, Pavel Zavalny, head of the energy committee in the lower house of the Russian Legislature, said during a March 24 press conference. The minister pointed to China and Turkey as “friendly” nations who have not yet applied sanctions on…
Ukraine Crisis Likely to Slow Global Economic Growth, Yellen Says
March 27, 2022
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Business & Economycommoditieseconomic policieseconomygas pricesinflationJanet YellenMarketsRussia-Ukraine crisis
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WASHINGTON—The Russia–Ukraine crisis is driving up commodities prices and is likely to reduce prospects for global growth in the coming year, U.S. Treasury Secretary Janet Yellen warned on Friday. Ukraine is a major global supplier of wheat and corn, and prices have surged since Russia invaded its Eastern European neighbor last month. “We are seeing…
Russian Demand for Rouble Gas Payments Would Be Breach of Contract, EU Leaders Say
March 25, 2022
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Business & Economycommoditiescrisiseconomic policieseconomyEuropeGasMarketsroubleRussiaRussia-Ukraine WarUkraineWorld
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BRUSSELS—Leaders from some European Union member states said on Thursday Russia’s demand that “unfriendly” countries use roubles to buy for its oil and gas could breach supply contracts. President Vladimir Putin’s demand on Wednesday for rouble payments sent European gas prices surging and added to concerns over supply disruptions in the EU, which gets about…
Oil Slips as Kazakh Supply Concerns Ease
March 25, 2022
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Business & EconomycommoditiescrisisEuropeglobalKazakhMarketsOilRussia-Ukraine WarstockssupplyUkraineWorld
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LONDON—Oil prices slipped on Friday, with some supply concerns easing after a partial export resumption from Kazakhstan’s CPC crude terminal. Brent crude fell $1.29, or 1.1 percent, to $117.74 a barrel at 1049 GMT and U.S. West Texas Intermediate (WTI) crude slid $1.80, or 1.6 percent, to $110.54 after both had dropped more than 2…
House Republicans See ‘Out of Control Inflation’ as a Key Weapon to Regain Control
March 25, 2022
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2022 Midterm ElectionsBusiness & Economycommoditieseconomic policieseconomyHouse RepublicansinflationMarketsPoliticsRepublicansretreatUS
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PONTE VEDRA, Fla.—Since taking office last year, President Joe Biden has pursued policies that have weakened U.S. energy security, and as a result, American families are feeling the pain at the gas pumps. This is one of the main messages that came out of the House Republicans’ annual retreat this week. House Republicans gathered in…
House Republicans See ‘Out of Control Inflation’ as a Key Tool to Regain Majority
March 25, 2022
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2022 Midterm ElectionsBusiness & Economycommoditieseconomic policieseconomyHouse RepublicansinflationMarketsPoliticsRepublicansretreatUS
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PONTE VEDRA, Fla.—Since taking office last year, President Joe Biden has pursued policies that have weakened U.S. energy security, and as a result, American families are feeling the pain at the gas pumps. This is one of the main messages that came out of the House Republicans’ annual retreat this week. House Republicans gathered in…
World Stocks Poised for Consecutive Weekly Gains for First Time in 2022
LONDON—World stocks paused for breath on Friday but are set for a second consecutive week of gains for the first time in 2022 though sentiment was broadly cautious as markets evaluated the economic risks from the Federal Reserve’s policy tightening and Russia’s war in Ukraine. U.S. stock futures were marginally higher in the last full…
US Treasury Says Gold-Related Transactions Involving Russia Are Strictly Prohibited
The United States is targeting Russian gold reserves and has warned that gold-related transactions involving the country are strictly prohibited. The move, done in coordination with the European Union and G7, is aimed at further restricting Moscow’s ability to use its international reserves to prop up its currency, thus avoiding the impact of sanctions, and fund President Vladimir…
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