Tag: Russia

Energy

We no longer rely on Russian energy – Germany

Germany’s Finance Minister, Christian Lindner, says his country has stopped importing energy directly from Russia. He told BBC that Germany no longer relies on Russian imports for its supply of energy even though Germany previously imported around half of its gas from Russia. Christian Lindner shared that the strategy of diversification of Germany’s energy infrastructure […]

What we'll do if Putin cuts gas supply - EU
Energy featured

Russia rejects EU, G7 oil price cap

Russia on Saturday rejected a $60 price cap on its oil agreed by the EU, G7 and Australia, which Ukraine said would contribute to the destruction of Russia’s economy. “We will not accept this price cap,” Kremlin spokesman Dmitry Peskov told domestic news agencies, adding that Russia, the world’s second-largest crude exporter, was “analysing” the […]

Ukraine: Russia lost only 8.5% of Western firms, says report
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Russia suspends participation in Ukraine grain deal

Moscow on Saturday suspended its participation in a landmark agreement that allowed vital grain exports from Ukraine, blaming drone attacks on Russian ships in Crimea. Russia made the announcement after its army accused Kyiv earlier Saturday of a “massive” drone attack on its Black Sea fleet, which Ukraine labelled a “false pretext” and the UN […]

News

Toyota shuts Russian factory over supply chain issues

Toyota announced Friday it was closing its assembly line near Saint Petersburg, in a new example of supply chain problems dogging firms operating in the sanctions-hit country. The industrial site spanning over 224 hectares (554 acres) suspended production in March, shortly after the start of Russia’s military operation in Ukraine. “Toyota has decided to stop […]

Economy

Experts warn Nigeria as World Bank predicts global recession

Economic and financial experts have warned that Nigeria could face serious economic consequences if the global economy contracts into a recession, as predicted by the World Bank. The President of the World Bank Group, David Malpass, told a United States business event on Wednesday that it was difficult to “see how we avoid a recession.” […]