Ukraine Financial News

Russia unleashed intense overnight drone and missile attacks that officials said damaged critical port infrastructure in southern Ukraine, including grain and oil terminals, and wounded at least 12 people

Vladimir Putin will not attend a BRICS nations summit in South Africa next month, the country's presidency said on Wednesday, ending months of speculation. Putin's potential visit has been a thorny diplomatic issue for South Africa. The Russian leader is the target of an International Criminal Court arrest warrant — a provision that Pretoria as an ICC member would be expected to implement were he to set foot in the country. «By mutual agreement, President Vladimir Putin of the Russian Federation will not attend the summit, but the Russian Federation will be represented by Foreign Minister Mr (Sergei) Lavrov,» Vincent Magwenya, a spokesman for President Cyril Ramaphosa, said in a statement. The decision follows «a number of consultations» held by Ramaphosa in recent months, the most recent of which took place «last night,» Magwenya said.

Russia has appointed Chechnya’s agriculture minister as the new head of Danone’s business in the country and tapped a Russian businessman to run Carlsberg’s operations there, cementing control of the Western multinationals’ Russian assets days after they were seized. President Vladimir Putin on Sunday signed a decree that effectively placed the local operations of the French food company and Danish brewing giant under government management. Russia’s unexpected seizure of assets belonging to two of the world’s largest consumer-goods companies marked an escalation in economic hostilities with the West amid the war in Ukraine.

British spies are already using artificial intelligence to hamper the supply of weapons to Russia, the head of Britain’s MI6 agency said Wednesday, predicting that Western spies will increasingly have to focus on tracking the malign use of AI by hostile states. In a rare public speech, Richard Moore also urged Russians who oppose the invasion of Ukraine to spy for Britain, saying others had already done so since the war began.

By Nick Starkov

Russia-Ukraine war and central bankers’ tightening spree to get the upper hand in their battle against inflation. As a result of the double whammy impact of geopolitical tension and higher borrowing cost, the USD being a global cycle currency traded at the highest level in 21 years. At the same time, the Indian rupee was seen steadily depreciating from 74.50 to 83.25, a fall of more than 11%.

Joe Biden of ‘not capable’ of dealing the world leaders. Trump also claimed of having good relationships with both Zelenskyy and Putin. In the interview, Donald Trump said that leaders like Emmanuel Macron, Vladimir Putin, are people who are top in their games.

Russian president is invited. He was responding to a petition by South Africa’s largest opposition political party, the Democratic Alliance, that asked a court in Pretoria to force the government to arrest Putin if he attended the summit. Putin is the subject of an arrest warrant as per the International Criminal Court (ICC) if he leaves Russian soil.

House Republicans are searching for solutions to climate change without restricting American-produced energy that comes from burning oil, coal and gas

European Union and Latin American leaders have concluded a summit that was supposed to be a love-in after eight years of separation, but instead ended with aggravation over the failure to unanimously support even a bland statement on Russia’s invasion ...

A meeting in India of finance chiefs and central bank governors of the Group of 20 leading economies has ended without consensus because of differences over the war in Ukraine

A representative of BBC staff in Cairo on a three-day strike for equal pay with colleagues in the Middle East has accused the broadcaster of “gross discrimination.”

South Africa’s president says that arresting Russian President Vladimir Putin — should he show up at an economic summit next month in Johannesburg — would amount to a “declaration of war” by his country

For millions in the U.K., the cost-of-living crisis just never seems to ease

America's top oilfield services companies sold millions of dollars in vital oil equipment to Russia after the invasion of Ukraine

New Delhi: The Indian crude oil basket which was largely subdued in May and June has witnessed over 4% increase in its average price in July amid global supply concerns. The average Indian crude basket for July stands at $78.22 per barrel, compared to $74.93 a barrel in June. In May, it averaged at $74.98 a barrel as prices eased amid growing concerns of a global slowdown.

Countries of the G20 grouping could not agree on a joint statement at the end of a meeting of their finance ministers and central bank governors, as the grinding war in Ukraine continued to polarize the bloc, which counts Russia, China, and the US as members. “China stated that the G20 FMCBG (Finance Ministers and Central Bank Governors) meeting is not the right forum to discuss geopolitical issues," said the third G20 FMCBG Outcome Document and Chair’s Summary, which was released late on Tuesday. Meanwhile, Russia dissociated itself from the status of the document.

WTO) Bali conference that prevents legal action against any developing nation that breaches the food subsidy limits specified in the agreement on agriculture. At an agriculture negotiation meeting at the WTO on Monday, the US said India’s expansion of support to its rice and wheat farmers has negative spillover effects. India has invoked the clause thrice. “India said that the strongest evidence supporting the necessity of public stockholding was in its own actions during the pandemic, when it mobilised its food stocks and provided food to 80 million people in 18 months’ span,” said a Geneva-based official. Public stockholding is a policy tool used by governments to purchase, stockpile and distribute food when needed. Developing countries’ food subsidies are protected by an interim peace clause which shields food procurement programmes against action from WTO members in case the subsidy ceilings—10% of value of food production in the case of India and other developing countries—are breached.

India is making some very strong inroads in the development agenda, says Mathias Cormann, secretary-general at the Organisation for Economic Co-operation and Development. He terms the global tax deal as the biggest reform in more than 100 years that is seeking to cater to changes in business models and the structure of the global economy. Edited excerpts from an interview with Deepshikha Sikarwar.The OECD in its latest economic outlook has said improvement in global growth is very fragile. What are the key risks that you see for the recovery? First, the good news is that we project continued global growth.

Ukraine’s failure to secure an invitation to join the North Atlantic Treaty Organization (Nato) during the alliance’s annual summit in Vilnius, Lithuania, has disappointed many, including Ukrainian President Volodymyr Zelensky. But although the summit’s concluding statement did not offer a definitive timetable for Ukrainian accession, it did demonstrate a degree of unity and strategic foresight that would have been impossible had Donald Trump still been president of the US. To be sure, Nato leaders’ promise to extend an official invitation to Ukraine “when Allies agree and conditions are met" was somewhat nebulous, and Zelensky, angered by the ambiguity, criticized the Western position as “unprecedented and absurd." But US President Joe Biden was right to suggest that the war must end before Ukraine is allowed to join.

Military Cooperation of the Indian-Russian Intergovernmental Commission on Military and Military Technical Cooperation (IRIGC-M&MTC) is being held at Manekshaw Centre in Delhi on Tuesday and Wednesday to discuss the issue of spare parts and maintenance issue of Russian origin defence equipment used by India. The meeting is being chaired by Lt Gen Johnson P Mathew, CISC HQ IDS from the Indian side and Lt Gen Dylevskii Igor Nikolaevich, Deputy Chief of the Main Operational Directorate of the General Staff of the Armed Forces of the Russian Federation from the Russian side.