Economy
On March 12th, the European Union made a pivotal decision to extend sanctions against Russia for another six months in response to its full-scale aggression against Ukraine. These sanctions, aimed at individuals responsible for threatening Ukraine's territorial integrity, sovereignty, and independence, are now set to last until September
Economy
The European Commission is actively working on a strategy that could enable the transfer of the first tranche of 2-3 billion euros to Ukraine from the immobilized assets of the Russian Central Bank in the West, starting in July of this year. This initiative, highlighted by the Financial Times on
Economy
The United States Treasury Department imposed sanctions on March 8 against two companies in Russia and the Central African Republic (CAR) for their role in facilitating the Wagner Group's activities in Africa. Detailing the sanctions, the U.S. targeted Bois Rouge, also known as Wood International Group SARLU,
Economy
In a significant discovery, Lithuania's intelligence agencies have unveiled the presence of companies within the country that continue to engage with Russian businesses, aiding them in circumventing international sanctions. This revelation stems from a joint report by the Counterintelligence Department of the State Security Department and the Military
Economy
In the face of mounting Western sanctions designed to cripple its economy, Russia has demonstrated a striking resilience, particularly within its energy sector. February saw a dramatic surge in the country's earnings from oil and gas sales, leaping by more than 80% compared to the previous year, and
Economy
In an unprecedented turn of events for Russia's aviation sector, one of its largest carriers, Rossiya Airlines, reported a staggering 41-fold increase in net losses for the year 2023, totaling 21.6 billion rubles. This financial downturn has caught the attention of industry analysts and stakeholders, especially given
Economy
In a significant move that underscores the continuing tension between Russia and the European Union, Lithuania has issued a stark warning to owners of vehicles registered in Russia. According to Lithuanian customs authorities, all vehicles with Russian registration numbers must leave Lithuania and the entire territory of the European Union
Economy
Switzerland has officially aligned itself with the European Union's 13th round of sanctions against Russia, marking a significant move in the international response to the ongoing military aggression by Russia against Ukraine. The Swiss Federal Council announced this step, highlighting the nation's commitment to joining the
Economy
Japan has stepped up its response to Russia's war against Ukraine by imposing new sanctions on 12 individuals and 36 organizations linked to the Russian Federation, as announced by Andriy Yermak, the head of the President's Office, via Telegram and reported by Ukrinform. This latest sanction
Economy
In a significant move, New Zealand has announced a new package of sanctions against Russia, marking another step in the ongoing international sanction response to Russia's illegal invasion of Ukraine in February 2022. This announcement, detailed on the New Zealand government's website, underscores the country'
Economy
In a significant shift in the Russian retail landscape, the last standing stores of prominent global brands LG, Sony, and Bosch are shuttering their doors, signaling the end of an era for these household names in the country. The closures come amid a backdrop of logistical challenges and a changing
Economy
In an important development reported by European Pravda, Wally Adeyemo, the Deputy Treasury Secretary of the United States, in an interview with Reuters, revealed that the threat of sanctions against financial institutions has significantly influenced the flow of funds between Russia and countries like Turkey, the United Arab Emirates, and