Nigeria may be reaping extra revenue since Ukraine’s crisis pushed oil prices above $100 a barrel, but it is facing fuel scarcity at home. OPEC member Nigeria has little capacity to refine its own crude and relies heavily on fuel imports so higher oil prices mean more budget spending. President Muhammadu Buhari says Africa’s top [&...
The U.S. and European Union have imposed sweeping new penalties aimed at crippling Russia’s economy. EU sanctions announced Sunday ban the supply of “all goods and technology” linked to aircraft. Switzerland has also enacted penalties on Russia, abandoning its traditional neutrality. Meanwhile, TikTok has blocked Russian-backed outlets, such a...
ANKARA (AA) – The US Treasury announced on Monday it has prohibited Americans from doing business with the Russian central bank, Russia’s National Wealth Fund, and the Finance Ministry. The action effectively immobilizes any assets of the Russian central bank held in the US or by US people, the Treasury said in a statement. The […...
Russia’s attack on Ukraine could affect wheat supplies in the Arab world where millions are already struggling to survive. Russia is the world’s top wheat exporter and Ukraine is the fourth, according to the U.S. Department of Agriculture. Any disruption in supplies “could trigger renewed protests and instability” in several Middle Eastern an...
The British government on Sunday announced an increase in aid to the government and people of Ukraine as they battled a Russian invasion for the fourth consecutive day. Prime Minister Boris Johnson announced a further increase of over $50 million in aid to Kyiv which will see the provision of much needed medical supplies and […]
The leaders of the Group of Seven (G7) industrialized nations said Sunday they will continue to take steps if Russia does not stop its “war of aggression” against Ukraine. The leaders of Canada, France, Germany, Italy, Japan, the UK and the US held a video conference chaired by German Foreign Minister Annalena Baerbock and also […]
Russia’s war against Ukraine “will last” and the world must prepare for the crisis with determination, French President Emmanuel Macron has warned as he accelerated military deployment in neighboring Eastern European countries to support Kiev. “War has returned to Europe,” Macron told businessmen and industrialists at an agriculture event in P...
ANKARA (AA) – The Organization for Economic Co-operation and Development (OECD) on Friday announced that it has decided to formally terminate the accession process with Russia, which was postponed in 2014. In a statement, the organization added that it will close its Moscow office and stop all invitations to Russia at ministerial levels....
ANKARA (AA) – International sanctions imposed on Russia are expected to affect global economy, which is still trying to recover from the shock of the pandemic, the head of International Monetary Fund (IMF) said on Friday. Kristalina Georgieva said the effects of the sanctions would be seen in energy and grain prices, which would increase...
MOSCOW, RUSSIA – FEBRUARY 24: Russian President Vladimir Putin met Pakistani Prime Minister Imran Khan in Moscow on Thursday, Feb. 24, amid high tensions between Moscow and Kyiv. A brief statement by the Kremlin said the two leaders discussed “the main aspects of bilateral cooperation and exchanged views on current regional topics, inclu...
