Trade

Putin insulted because World Trade Organization rejected Belarus application to join | World | News

The tiny nation, run by Putin’s close ally, Alexander Lukashenko, has been called by some as Europe’s last dictatorship. Belarus is closely linked to Russia’s ambitions over Ukraine and has seen Russian troops attack its southern neighbor from its territory. The World Trade Organization (WTO) move would be a severe financial blow for the country, …

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Eurozone trade deficit record shows dependence on Putin | City & Business | Finance

Overall in January the EU ran a trade deficit of €11.9bn (£9.99bn) with Russia. Most importantly though the data reflects conditions prior to Vladimir Putin’s Russian invasion of Ukraine with commodities such as oil, gas, wheat and metals all surging since then. Walid Koudmani, chief market analyst at broker XTB, said: “The recent Russia-Ukraine conflict …

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Deutsche Bank warns Swift ban in Russia will ‘complicate trade and amplify jitters’ | World | News

In a new research paper published on Friday, Germany’s biggest lender warned that excluding Russia from Swift’s international payments system would pose an economic “harm”. The report said the move could “accelerate the expansion of rival messaging networks and payment methods that evade sanctions”. The report’s author, Marion Laboure, said: “In the long term, danger …

Deutsche Bank warns Swift ban in Russia will ‘complicate trade and amplify jitters’ | World | News Read More »

Joe Biden calls for ‘end of normal trade with Russia’ as Putin economy crashes | World | News

Sources have told Reuters about the US President’s next move in his bid to force Vladimir Putin to step down from Ukraine. White House reporter for Bloomberg Jenny Leonard also posted the news on Twitter, saying she would work “with G7 & EU leaders” and aim to “repeat the PNTR” [Permanent Normal Trade Relations]. Leonard …

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Russia’s biggest imports hit the brink as countries stop all trade | World | News

With Russia showing no sign of a ceasefire in Ukraine despite the severe sanctions imposed on the country by the West, more and more companies around the world are stepping in to punish Russia. A number of companies suspended sales of products completely, restricting access to the world’s most popular branded goods. So far, the …

Russia’s biggest imports hit the brink as countries stop all trade | World | News Read More »