The parent company of IKEA announced on March 3 that it will close all of its stores in Russia, stopping production in the country and halting all exports and imports to and from Russia and Belarus, as Western companies begin to curb business with Russia since its invasion of Ukraine. Ingka operates seventeen stores and one…
IKEA Suspends Operations in Russia, Affecting 17 Stores
March 4, 2022
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Russia’s Lukoil Calls For End To The Ukraine War, As The Oil Company Suffers Losses
March 4, 2022
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The head of Russia’s second-largest oil company, Lukoil on March 3 has called for an immediate halt to fighting in Ukraine, in a sign of weakening support for the conflict among some of the country’s influential oligarchs. The oil giant is the first major Russian firm to speak out against Putin’s decision to invade its neighbor. Vagit…
Finding a Solution to the Ukraine Crisis?
Commentary Ukraine and Russia are slugging it out, with heavy losses on both sides. The Russian strategy, such as can be determined, seems to be to surround Ukraine’s main cities and squeeze the Ukrainian government as hard as they can. The Russians also threaten to lop off parts of Ukraine, such as the area around…
Inflation in the Eurozone Hits Record High as War in Ukraine Affects Energy Prices
March 2, 2022
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Countries in the 19 nation Eurozone are facing skyrocketing inflation as the Russian invasion of Ukraine threatens to raise energy prices throughout Europe, according to numbers released on March 2. Consumer prices in the EU jumped 5.8 percent from a year ago in February, up from 5.1 percent the previous month, the fourth straight month…
Ukrainians Have Been Defying Foreign Invaders for a Thousand Years. Their Courage Is No Surprise
Commentary Chicken Kiev may be a popular dish but as the world has learned in recent days, the word “chicken” does not describe the people of Kiev (often spelled Kyiv by Ukrainians). Far from it. The courage of Ukrainians in the face of Moscow’s vile military invasion is the stuff of legend already. We will…
Global Fertilizer Supply Is At Risk Due To Dependence on Russia, Says Norwegian Fertilizer Producer
March 1, 2022
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The Russian invasion of Ukraine is beginning to threaten the global food supply, said Norwegian fertilizer producer, Yara International in a March 1 press statement. The Norwegian company recommended that the international community needs to reduce its dependence on Russian raw materials for agriculture fertilizer. Fertilizer prices were already rising sharply at the end of…
Kremlin to Ban Foreign Debt Service in Retaliation to EU, US Sanctions
February 28, 2022
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Russian President Vladimir Putin announced new emergency measures intended to prop up the national currency, including a ban on Russian residents transferring foreign currency abroad and forcing exporters to use the national currency. The measures, which take effect March 1, include a ban on payments of hard currency from residents made to foreigners “in connection…
EU Restrictions Over Russian Airspace Causing Disruption to Passenger and Cargo Traffic
February 28, 2022
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Russia on Feb. 28 closed its airspace to airlines from the European Union and Canada following sanctions from Brussels and Ottawa that banned Russian aviation from entry as fighting raged in Ukraine. Flights from 36 countries, including 27 all members of the EU, have been banned from Russian airspace, which will likely affect several airlines…
Belarus Set to Amend Non-Nuclear Constitution Amid Russia-Ukraine Conflict
Belarus is set to make amendments to its non-nuclear constitution to allow for nuclear weapons after a referendum was held on Sunday amid Russia’s invasion of Ukraine. The Belarus Central Election Commission said that voter turnout stood at 78.61 percent, of which 65.2 percent voted in favor of the change. The amendments give Belarusian President…
Australian State Poised to Dump $75M of Russian Assets
The Australian state of New South Wales (NSW) will divest all of its Russian assets in its investment funds, in a protest against President Vladimir Putin’s invasion of Ukraine. The move will see at least $75 million of Russian assets acquired by the NSW Generations Fund sold. “Putin’s illegal invasion has put at risk global…
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