LONDON – British Prime Minister Boris Johnson has underscored the need for countries to work together “to improve energy security and reduce reliance on Russian hydrocarbons.” Meeting with Saudi Crown Prince Mohammed bin Salman in Riyadh, Johnson “set out the UK’s view that we are facing a fundamentally changed world order following Putin’s il...
Washington’s sanctions on Russia may affect Europe more than the US, an expert warns. Harry Tzimitras, a senior fellow at the US-based Atlantic Council, told Anadolu Agency, that Europe has had much greater dependence on Russian gas. He added that when it comes to the war on Ukraine, “That’s why we see them being much […]
ANKARA (AA) – The International Monetary Fund on Monday said Russia’s war on Ukraine has dramatically changed the Ukrainian economy’s outlook, with the global body expecting “a deep recession and large reconstruction costs” amid a humanitarian crisis. In its latest report on Ukraine, the IMF said Ukraine faces a m...
BISHKEK, KYRGYZSTAN: The National Bank of Kyrgyzstan has introduced temporary restrictions for transactions with cash in foreign currencies. The restriction came into effect from March 11, at 5:30 pm for commercial banks, exchange offices, microfinance and micro-credit companies. The ban will remain in effect until further notice. The National...
BEIRUT – Lebanese authorities have said that they have received an offer from Russia to build an oil refinery in Lebanon. “We received a general offer from a private Russian company, and it may crystallize with time because similar projects take a long period of time, whether with regard to gas for electricity or fuels,” […]...
ANKARA (AA) – The EU will work to “suspend Russia’s membership rights in the IMF and World Bank, the European Commission head has said. “We will deny Russia the status of most-favored-nation in our markets. This will revoke important benefits that Russia enjoys as a WTO (World Trade Organization) member,” said Ursula von der ...
ANKARA (AA) – The European Commission has disbursed €300 million in emergency assistance to Ukraine to support the country amid its war with Russia. “This is the initial part of a first €600 million ($660 million) installment under Ukraine’s new €1.2 billion emergency Macro-Financial Assistance (MFA) program,” the EU Co...
LONDON – The British government has announced a full asset freeze and travel ban on seven Russian oligarchs, including Roman Abramowich, as Moscow’s war on Ukraine continues. “Foreign Secretary Liz Truss has announced a full asset freeze and travel ban on seven of Russia’s wealthiest and most influential oligarchs, whose business empires...
ANKARA (AA) – British PM and Ukraine’s President have expressed their determination to further tighten sanctions against Russia. Boris Johnson outlined the work the UK is doing to provide the military equipment Ukraine needs to defend itself and Volodymyr Zelenskyy thanked him for “the UK’s ongoing military support, alongside tough...
ISTANBUL (AA) – The UAE will encourage OPEC to raise its production levels, the Emirates’ ambassador to Washington said Wednesday. “The UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy,” Yousef Al...
