Ukraine Financial News

In his final speech as deputy governor at a Bank of England event yesterday (20 May), he argued the large inflationary shocks brought by the pandemic and the war in Ukraine are now over, with economic data stabilising over the last year or so. Bank of England mirrors Federal Reserve and holds interest rates As such, he argued if data follow the current forecasts, the BoE is likely to begin cutting rates at some point over the summer. «Whatever the priors of its individual members, the MPC will continue to learn from the incoming data and, if things continue to evolve with its forec...

India's Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia's largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company's ships, along with its 14 tankers, were designated by Washington in February as being in breach of Western sanctions. The West has imposed the sanctions against Russia since it invaded Ukraine in 2022 and has enacted price caps on oil and oil products loaded at Russian ports aimed at cutting Moscow's oil revenue that funds the war.

Russia to halt its military invasion of Ukraine, China is supporting its ally as fully as it can without triggering Western sanctions. The farewell hug between the autocratic leaders of the respective nations — Chairman Xi Jinping and President Vladimir Putin — made a mockery of China's profession of being a neutral party. In his first overseas trip after commencing his fifth term in power, Putin visited China on 16-17 May. The occasion marked the 75th anniversary of diplomatic relations between the two countries, and a 7,000-word joint statement enthused that «Russian- Chinese relations stand the test of rapid changes in the world, demonstrating strength and stability, and are experiencing the best period in their history». Beijing previously declared a «no-limits strategic partnership» with Moscow, and the state visit reinforced the closeness between the two regimes. Instead of urging an end to the war, Xi embraced the Russian strongman and issued assurances of undying support. The joint statement noted the nations would «further deepen mutual military trust and cooperation». This includes expansion of military exercises, regular maritime and air patrols, and strengthening bilateral and multilateral coordination.

Defense Secretary Lloyd Austin committed Monday to keeping weapons from the United States moving to Ukraine as Kyiv faces one of its toughest moments against a renewed assault by Russia.

Ukraine-Russia conflict and other geopolitical tensions, External Affairs Minister S Jaishankar on Monday said a "storm" is brewing and it is going to get worse while asserting that it is absolutely vital to have a "safe pair of hands" to take India through this very difficult period. He was speaking during an interaction held at a Delhi Tamil Education Association-run school in the national capital, days ahead of the polling for the ongoing Lok Sabha election here.

The Russian state news agency Tass says a court in St. Petersburg has ordered the seizing of assets of Germany's Deutsche Bank and Commerzbank in Russia

Tyson Fury has cited a bizarre reason behind his loss against Oleksandr Usyk in Saudi Arabia. While, it was a split decision that went in favour of Usyk, Fury has alleged that judges favoured the Ukrainian boxer out of sympathy for the war-torn country, as per a Fox News report. «You know, his country is at war, so people are siding with a country at war. But make no mistake, I won that fight, in my opinion, and I’ll be back. I’ve got a rematch clause,» Fury was quoted as saying by Fox News.

SpaceX has become one of the investing world’s most exclusive clubs. Invites circulate via group chats, word of mouth and emails marked confidential. Investment vehicles providing access to Elon Musk’s closely held rocket and satellite company have generated hefty demand, and fees for those arranging them.

Kate Winslet’s star turn, her lisping petulance recalls Veruca Salt, the spoiled brat in “Charlie and the Chocolate Factory". Elena’s antics, amours and annexations are chronicled in “The Regime", a satirical drama out now in America and in Britain soon. It is a silly TV show that makes serious points about autocracy.

NEW DELHI : With discounts on Russian crude oil dwindling, India, in a first such effort, has brought together state-owned and private oil refiners to jointly negotiate for higher discounts and better terms with Russian suppliers, including Russia’s largest oil company Rosneft PJSC. The government-led joint sourcing strategy involves leveraging India’s position as the world’s third-largest crude oil buyer to get better discounts on Russian oil, which have dropped to about $3 per barrel from a high of $10 earlier, said two people aware of the development. The calibrated strategy—involving Indian Oil Corp.

Poland is investing about $2.5 billion to step up security and deterrence on its borders with Russia and its ally Belarus, the prime minister said Saturday. Donald Tusk said work on the Shield-East project which includes building proper military fortifications has already begun. Poland is on the eastern flank of NATO and of the European Union and Tusk stressed it bears additional responsibility for Europe's security. «We have taken the decision to invest into our safety and first of all, into a safe eastern border, some 10 billion zlotys ($2.5 billion),» Tusk said.

New Delhi: India is looking to fortify its imports of LNG, a crucial ingredient in industrial applications and partly in transportation, through long-term contracts with overseas exporters. This week, state-run Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in France for supply of LNG (liquefied natural gas), two people aware of the development said. Under the contract, TotalEnergies would supply 1 million metric tonne per annum (mmtpa) of LNG to IOCL for a period of around 10 years.

Russia and China are interested in increasing their oil and gas trade, President Vladimir Putin told reporters in Harbin on Friday. «Mutual interest in implementation of such projects has been confirmed,» Putin said in the final hours of his state visit to China, as per a briefing broadcast by state-run Rossiya 24 TV. «We have a huge common border and nothing can interfere: neither sanctions against the tanker fleet, nor sanctions against financial institutions. We will buy and sell everything in national currencies.» Russia's relations with western nations, formerly its main energy market, are at the lowest point since the Cold War due to Putin's invasion of Ukraine. That makes Moscow increasingly reliant on oil and gas deliveries to growing Asian economies. China, the word's largest energy importer, is currently a key buyer of Russian barrels and Gazprom PJSC's natural gas.

India is a friend of the world and the global community expects it to contribute significantly in bringing peace to war-torn Ukraine, Swiss State Secretary of Foreign Affairs Alexandre Fasel said on Friday as Switzerland prepares to host a major summit next month to end the conflict in Ukraine. Fasel held wide-ranging talks with his Indian interlocutors and extended an invitation to the Indian prime minister for participating at the summit that is aimed at charting a course for a just and lasting peace in Ukraine. Switzerland has extended invitations to over 160 countries for the summit to be held on June 15 and 16. «India is a friend of the world. There is really an expectation from the international community that India can contribute to this (peace) process,» Fasel told PTI in an interview.

On Friday, President Vladimir Putin expressed concern that the U.S. sanctions policy was eroding confidence in the dollar. He highlighted that Russia and China were exploring solutions to prevent the imposition of measures against Chinese banks from disrupting their growing trade.

domestic manufacturing and investment. Jaishankar highlighted the importance of considering national security in business decisions, particularly in relation to China.

KYIV: A massive Ukrainian drone attack on Crimea early Friday has left the city of Sevastopol without power and set a refinery ablaze in southern Russia, Russian authorities said. The drone raids marked Kyiv's attempt to strike back during Moscow's offensive in northeastern Ukraine, which has added to the pressure on outnumbered and outgunned Ukrainian forces who are waiting for delayed deliveries of crucial weapons and ammunition from Western partners. The Russian Defense Ministry said air defenses downed 51 Ukrainian drones over Crimea, another 44 over the Krasnodar region and six over the Belgorod region. It said Russian warplanes and patrol boats also destroyed six sea drones in the Black Sea.

Ukraine-Russia conflict since Vladimir Putin started the invasion of Ukraine in February 2022. He made phone calls with Putin and Volodymyr Zelansky to ensure safe passage for Indians stranded in war-torn regions. Putin and Zelensky have invited him to their respective countries after the Lok Sabha elections 2024.

dual-use materials and weapons components to Russia, Beijing has no interest in dropping its backing for President Vladimir Putin, analysts say. While China does not want to upend its ties with the West, and insists it is not sending lethal weapons to Moscow, Washington has stressed that Russia would struggle to sustain its assault on Ukraine without Beijing. On Thursday, Putin arrived in China on a two-day visit as Moscow is seeking more support from President Xi Jinping for the war effort in Ukraine following multiple rounds of Western sanctions.

Ukraine has retaken half of the territory Russia seized at the beginning of the war – and one day it will be a NATO member, the alliance’s top soldier said.

Russian President Vladimir Putin has thanked Chinese leader Xi Jinping for China’s proposals on ending the war in Ukraine, which have been rejected by Ukraine and its Western supporters as largely following the Kremlin’s line