Billionaire Vadim Moshkovich, the founder and top shareholder of Russia’s Rusagro, has cut his stake in the farming conglomerate to below 50 percent, the London-listed company said after he was terminated as chairman of the firm. Granada Capital, a company controlled by Moshkovich, sold nearly two million shares, or about 7.22 percent in Rusagro, on…
Russian Billionaire Moshkovich Cuts Stake in Rusagro to Below 50 Percent
March 11, 2022
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South American Nations Push to Exclude Fertilizer From Russia Sanctions
March 11, 2022
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SAO PAULO—Six South American nations are proposing the exclusion of fertilizer from sanctions on Russia, a major world producer whose invasion of Ukraine has disrupted supplies, Brazil’s Agriculture Minister Tereza Cristina Dias said on Thursday. She said Brazil has secured the support of Argentina, Bolivia, Chile, Paraguay, and Uruguay for a proposal excluding fertilizer products…
Wall Street Opens Higher at End of Choppy Week on Ukraine Talks Hope
Wall Street’s main indexes opened higher on Friday after Russian President Vladimir Putin said there were “certain positive shifts” in talks with Ukraine, at the end of a week roiled by geopolitical tensions and inflation angst. The Dow Jones Industrial Average rose 105.65 points, or 0.32 percent, at the open to 33,279.72. The S&P 500…
Euro Rises as Putin Sees ‘Certain Positive Shifts’ in Talks With Ukraine
March 11, 2022
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LONDON—The euro rose on Friday after Russian President Vladimir Putin said there had been some progress in Moscow’s talks with Ukraine. Even if Putin provided no details, the euro rose 0.4 percent to $1.1043 minutes after Putin said in a meeting with his Belarusian counterpart Alexander Lukashenko that talks continued practically on daily basis. “There…
Moscow Retaliates Against Western Sanctions With Export Bans
March 10, 2022
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Russia sought on Thursday to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities. Exporting telecom, medical, auto, agricultural, electrical, and tech equipment, as well as some forestry products, will be banned until the end of 2022. “These measures are a logical response to those…
Euro Wavers as Traders Await EU Policy Response to War in Ukraine
LONDON—The euro shed some of its overnight gains on Thursday after its steepest daily jump since 2016 as traders waited for a European Central Bank meeting and a European Union summit to shed light on the bloc’s policy response to Russia’s invasion of Ukraine. The common currency on Wednesday benefited from a risk-on shift in…
Russia Says Aviation Sanctions Threaten Safety of Russian Flights—RIA
Russia’s foreign ministry said that sanctions imposed by the United States and European Union on aviation threatened the safety of Russian passenger flights, the RIA Novosti news agency reported on Wednesday.
US Shale Shortages to Limit Efforts to Replace Banned Russian Oil
March 9, 2022
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HOUSTON—U.S. shale producers are unlikely to replace banned Russian oil imports due to a shortage of oilfield materials, equipment, and labor and a dwindling backlog of wells waiting to be completed, energy executives and analysts said on Tuesday. President Joe Biden imposed an immediate ban on Tuesday on Russian oil imports in retaliation for its…
Gold, Palladium Retreat From Highs
March 9, 2022
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Gold and palladium on Wednesday hit the brakes on a blistering rally as riskier assets attempted a comeback, with analysts predicting another run higher for precious metals in case of a further escalation in the Ukraine crisis. Spot gold fell 1.9 percent to $2,013.79 per ounce, as of 1047 GMT, snapping a four-session rally that…
Asia Stocks Mixed After Wall Street Falls, US Bans Russian Oil
March 9, 2022
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BEIJING—European stocks and Wall Street futures rebounded Wednesday as investors watched diplomatic efforts to end Russia’s attack on Ukraine, while Asian markets sank after Chinese inflation accelerated. Already high oil prices added more than $1 per barrel following President Joe Biden’s ban on imports of Russian crude. London and Frankfurt opened higher. Shanghai, Tokyo, and…
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