ZAGREB, Croatia—A military drone that apparently flew all the way from the Ukrainian war zone over three European NATO-member states before crashing in an urban zone of the Croatian capital was armed with an explosive device, Croatia’s defense minister said Sunday. The Soviet-made aircraft crossed Romania and Hungary before entering Croatia, slamming into a field…
Russian Rouble Drops a Further 8 Percent This Week in Moscow
March 12, 2022
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The Russian rouble edged up against the dollar in thin on- and offshore trading on Friday, but ended a third week of hefty losses, with the central bank now further restricting access to foreign currency. The rouble has lost a third of its value in Moscow exchanges since Russia invaded Ukraine last month, as the…
Russian Billionaire Moshkovich Cuts Stake in Rusagro to Below 50 Percent
March 11, 2022
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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…
Canada Sanctions Russian Oligarch Abramovich as Trudeau Departs Europe Amid War
Prime Minister Justin Trudeau capped a weeklong European trip Friday by slapping new sanctions on the Russian oligarch Roman Abramovich, who has become an international poster boy for the largesse that enabled President Vladimir Putin’s war on Ukraine. Abramovich is a major shareholder in Evraz, a British multinational manufacturing company that operates a steel mill…
Satellite Images Appear to Show Russian Convoy Near Kyiv Has Dispersed, Redeployed
March 11, 2022
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Satellite images taken on Thursday appear to show that the large Russian military convoy that had been slowly advancing towards the Ukraine capital city of Kyiv has dispersed and redeployed into nearby locations. The convoy, which stretches for as much as 40 miles, was last seen northwest of Kyiv near Antonov airport. On March 7, U.S. Press Secretary John…
Trudeau Travels to Poland to See Ukrainian Refugees, Meet With Officials
Poland’s prime minister told Justin Trudeau that they were meeting at a turning point in history as the Canadian prime minister was about to come face to face with Europe’s refugee crisis. Trudeau arrived in Poland, where most of the estimated two million Ukrainians that have fled the Russian war on their country have sought…
UniCredit Flags up to $8 Billion in Losses on Russia, Prudent on Buyback
March 10, 2022
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MILAN—Italy’s second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around 7.4 billion euros ($8.1 billion), leaving its capital distribution plans hanging by a thread. UniCredit, which is one of Europe’s banks most exposed to Russia, said it would still be able to pay proposed cash dividends for…
Trudeau, Zelenskyy Speak Ahead of German Meetings in Berlin
BERLIN—Prime Minister Justin Trudeau has issued a standing invitation to Ukrainian President Volodymyr Zelenskyy to address Canada’s Parliament one day. Trudeau spoke to Zelenskyy from Berlin on Wednesday ahead of his meetings with German Chancellor Olaf Scholz as the NATO alliance continues to pressure Russia to end its invasion in Ukraine. “Talked to my friend…
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…
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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