Tag: Russia
Russian strikes hit western Ukraine as offensive widens.
Russian strikes hit western Ukraine, expanding military offensive. Armored columns move near Kyiv, while bombardment intensifies in Mariupol. U.S. and allies consider revoking Russia's trading status as invasion enters 16th day, with Putin claiming "positive developments" in negotiations.
World Bank official says war-driven oil price hikes to slash growth for big importers
A World Bank official highlights how persistent high oil prices triggered by the Ukraine conflict could reduce growth by a full percentage point for countries like China, Indonesia, South Africa, and Turkey, compounding existing economic challenges from the COVID-19 pandemic.
Biden bans Russian oil, warns of higher prices at US pumps.
President Joe Biden banned all Russian oil imports to the US, aiming to economically punish Russia for its invasion of Ukraine. The move follows Ukrainian President Zelenskyy's request and will likely lead to higher fuel prices for Americans, with Biden stating that "defending freedom is going to cost."
Russia-Ukraine war in the world’s ‘breadbasket’ threatens food supply.
The Russian invasion of Ukraine has severely impacted agricultural production in the world's "breadbasket" region. Ukrainian farmers can't tend fields, ports are closed, and wheat exports are disrupted, potentially causing global food shortages and price increases starting in July.
