The Australian government has slapped additional sanctions on Russian banks and government entities, which control most of the country’s banking assets and its sovereign debt. The March 18 announcement by Foreign Minister Marise Payne will see the Russian Wealth Fund and Ministry of Finance placed under sanctions, both entities are responsible for issuing and managing…
Australia Imposes New Sanctions to Tie up Russian Sovereign Debt, Banking Sector
March 18, 2022
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US Trade Chief Seeks to Mitigate Impact of Russia Sanctions on US
March 17, 2022
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Business & Economyeconomic policieseconomyEuropeExecutive BranchMarketsPoliticsRussiaRussia-Ukraine WarsanctionsUSWorld
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Ambassador Katherine Tai, the current U.S. trade representative, said on March 16 that policymakers need to consider how to mitigate the impacts of Western sanctions imposed on Russia due to its invasion of Ukraine. Tai was in Michigan on March 16 with South Korean Trade Minister Yeo Han-koo to commemorate the 10th anniversary of the U.S.–Korea Free…
Putin Can Weather Economic Punishment Better Than the West: Former Australian Defence Head
March 16, 2022
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Russian President Vladimir Putin’s ability to absorb economic punishment outstrips that of democratic leaders, who will face pressure from voters from rising living costs in the wake of the invasion of Ukraine, according to the former head of Australia’s Department of Defence. “He doesn’t face elections. He doesn’t have to worry about petrol prices. He…
North Korea Reactivating Nuclear Power?
Hospitals closed, transportation halted, residents banned from leaving their own homes—a new wave of infections has over 30 million in China adapting to a new normal. An incident erupts in a Chinese hospital. A reported COVID-19 case coverup sparks a fight among medical staff. Is North Korea reactivating its nuclear power? Satellite imagery may hold…
Russian Nationals in Turkey Racing to Open Bank Accounts to Protect Savings Against Sanctions
March 16, 2022
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Russian nationals who have left their country and relocated to Turkey are racing to open bank accounts in an effort to avoid sanctions levied by Western nations in the wake of Moscow’s invasion of Ukraine. According to local reports, there has been a significant increase in demand from Russian citizens seeking to open bank accounts…
A Look at Canada’s Sanctions and Other Actions Against Russia
Canada has toughened sanctions against Russia following Moscow’s attack on neighbouring Ukraine. Canada has sanctioned more than 900 Russian, Ukrainian and Belarusian entities and individuals it says are enabling and supporting President Vladimir Putin’s illegal war. A look at the measures and other actions Canada is taking: Sanctions — Sanctioned 15 Russian politicians and military…
West ‘Must Do More’ to Help Ukraine Resist Russian Aggression: UK’s Johnson
March 15, 2022
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Boris JohnsonBusiness & Economyeconomic policieseconomyEuropeliz trussMarketsRussia-Ukraine WarsanctionsUKUkraineVolodymyr ZelenskyWorld
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The West must do more to help Ukraine in its effort to resist Russian aggression, British Prime Minister Boris Johnson has said. Johnson made the remarks in London on Tuesday while hosting a meeting of the Joint Expeditionary Force (JEF), an alliance of northern European nations including Denmark, Finland, Estonia, Iceland, Latvia, Lithuania, the Netherlands,…
Experts Analyze Impetus Behind Chinese Buying Out Russian Goods Online
March 15, 2022
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Russian goods on Chinese e-commerce platforms have recently been sold out after a flurry of buying by Chinese netizens, so much so that a Russian delegate personally came forward to call on them to consume rationally. Analysts believe that this approach will not help the economy of Russia amid Western sanctions. Recently, many Chinese netizens…
Russia Says It May Have to Service Foreign Exchange Debt in Roubles Due to Sanctions
March 14, 2022
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Russia’s finance ministry is preparing to service some of its foreign currency debt on Wednesday, but such payments will be made in roubles if sanctions prevent banks from honoring debts in the currency of issue, the ministry said on Monday. “Is that a default? … From Russia’s point of view, we are fulfilling our obligations,”…
War, Sanctions, and the US Economy
Commentary Russia’s decision to invade Ukraine has created untold hardship. So also have the sanctions imposed on Russia by the United States and its allies. Everyone in assessing these matters should keep in mind the relative degrees of suffering. Worst is the pain imposed on the Ukrainian people, as is apparent in the pictures and…
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