Worldwide
Russia is facing the deepest economic contraction in nearly three decades as pressure from sanctions imposed by the U.S. and its allies mounts, according to an internal forecast by the Finance Ministry. This is reported by Bloomberg. Gross domestic product is likely to shrink as much as 12% this
Worldwide
Sanctions target £1.7bn worth of trade. The new import tariffs will cover £1.4 billion worth of goods – including platinum and palladium. In addition, the export ban covers £250m worth of goods, targeting key materials such as chemicals, plastics, rubber, and machinery. This is about 10% of all British
Worldwide
Promtekhnologiya, a weapons maker, was sanctioned, along with seven shipping companies and a marine towing company. The White House also said the Nuclear Regulatory Commission would suspend licenses for exports of special nuclear material to Russia.
Worldwide
Members of the World Health Organization's European Region have passed a resolution that could lead to the closure of Russia's regional office in response to the invasion of Ukraine. This decision was supported by 43 countries participating in the special session, while 3 were against (Russia,
Worldwide
The International Tennis Federation suspended memberships of the Tennis Federations of Russia and Belarus and banned them from participating in ITF international team competition until further notice. However, players from Russia and Belarus will continue to be allowed to compete in international tennis events as individuals but only under a
Worldwide
Chinese technology companies, including computer maker Lenovo and smartphone maker Xiaomi, have slashed shipments to Russia. Firms are gradually ceasing operations in Russia due to sanctions from the U.S. and component suppliers, including Western companies, The Wall Street Journal reported.
Worldwide
Google Play is blocking the downloading of paid apps and updates to paid apps in Russia starting May 5, 2022, according to the service's blog. Subscriptions that have already been paid for will be valid until the end of the period specified in the app, then they will
Worldwide
The UK Government has announced that Evraz Plc has been sanctioned. The steel manufacturing and mining company operates in sectors of strategic significance to the Government of Russia. The largest shareholder of the company is Russian billionaire Roman Abramovich. Evraz Plc produce 28% of all Russian railway wheels and 97%
Worldwide
The sanctions include freezing assets of about 140 additional individuals and some Russian banks. According to Japan's Prime Minister Fumio Kishida, seventy military entities will be added to the export ban to Russia as well as quantum computers and high-tech products. Japan's new sanctions on Russia
Worldwide
Coca-Cola could see its business in Russia “disappear completely at some point” if the war in Ukraine becomes protracted. This was stated by Coca-Cola Co. CEO James Quincey in his interview to The Wall Street Journal. Earlier, the company said that it would stop selling its beverage base to franchisees
Worldwide
A substitute for buying Russian oil could be the expansion of supplies through the TAL pipeline from Trieste, Italy. This statement was made during a visit to Berlin by Czech Prime Minister Petr Fiala, Novinky.cz reports. > "This is very important if we want to impose an embargo
Worldwide
A new €2 coin featuring a design by a Ukrainian refugee from Kharkiv. > "It is the first time that a coin issued by the Bank of Estonia has text in a foreign language, but this was an extraordinary case, and Slava Ukraini embodies the drive of Ukraine towards