Another sign the housing market is slowing down: prices for lumber are down 50 percent from two months ago. European leaders meet in Brussels to discuss the Russian oil ban. The divided officials are struggling to reach an agreement. An American company could be profiting from China’s zero-COVID policy. How? The FDA investigates a hepatitis outbreak…
US Firm Investing in China Virus Testing?; Europe Struggles to Ditch Russian Oil | NTD Business
Shell CEO Warns About Impossibility of Tracing Refined Russian Oil
May 6, 2022
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Even though the West is taking every measure to limit the use of Russian oil in their regions, it may be difficult to enforce these sanctions absolutely due to the impossibility of tracing Russian oil refined and resold by other nations, according to a major oil executive. During a first quarter webcast with reporters on…
Fed Hikes Rates Half a Point, Most Since 2000; EU Proposes Total Ban on Russian Oil | NTD Business
The Federal Reserve is raising interest rates by half a percentage point to fight inflation, but will it slow the economy to a recession? The European Union is proposing a sixth round of sanctions. This time it includes all Russian oil, and even Germany is in. Pharmaceutical companies Pfizer and Moderna rake in high profits from selling their…
European Commission President Proposes Complete Ban on Russian Oil Imports
May 4, 2022
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European Commission President Ursula von der Leyen has called on the European Union’s 27 member states to ban the import of Russian oil as part of the sixth package of sanctions against Moscow following Russia’s invasion of neighboring Ukraine. “Let us be clear: it will not be easy. Some member states are strongly dependent on…
Oil Prices Fall From China Worries, Support Comes From European Embargo
May 3, 2022
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Crude oil prices declined on Tuesday trading due to demand worries from China and the country’s weak manufacturing activity data even though prices are getting support from a possible European Union ban on Russian oil. Brent crude oil July futures were trading at $106.10 per barrel on May 3 as of 09:57 UTC after hitting…
Rupee-Ruble Trade Under Consideration, Says Head of Indian Export Group
March 29, 2022
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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…
India Defies Western and US Sanctions With The Purchase Of Russian Oil And Gas
March 18, 2022
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Indian Oil Corp. India’s state-owned oil company, purchased 3 million barrels of crude oil from Russia earlier this week, defying Western pressure to avoid buying oil from Moscow. New Delhi has not imposed sanctions against buying oil and gas from Russia nor has any plans to do so. It has so far abstained on votes…
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