Oil prices open lower as EU struggles to seal Russia import ban

– Oil prices opened lower in early Asian trade on Tuesday after the European Union’s efforts to enact a ban on Russian oil imports, a move that would tighten global supply, ran into resistance from member country Hungary. Brent crude futures fell 35 cents, or 0.3%, to $113.89 a barrel at 0004 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 52 cents, or 0.5%, to $113.68 a barrel. EU foreign ministers failed on…

"Oil prices open lower as EU struggles to seal Russia import ban"

Ukrainian troops evacuate from Mariupol, ceding control to Russia

KYIV/NOVOAZOVSK, Ukraine – Ukraine’s military said on Tuesday it was working to evacuate all remaining troops from their last stronghold in the besieged port of Mariupol, ceding control of the city to Russia after months of bombardment. The evacuation likely marked the end of the longest and bloodiest battle of the Ukraine war and a significant defeat for Ukraine. Mariupol is now in ruins after a Russian siege that Ukraine says killed tens of thousands…

"Ukrainian troops evacuate from Mariupol, ceding control to Russia"

U.N. warns of ‘catastrophic’ child malnutrition due to price hikes, Ukraine war

LONDON – The cost of life-saving treatment for the most severely malnourished children is set to jump by up to 16% due to Russia’s invasion of Ukraine and pandemic disruptions, according to the United Nations’ children’s agency. The raw ingredients of the ready-to-eat-therapeutic food have leapt in price amid the global food crisis sparked by the war and pandemic, UNICEF said. Without further funding in the next six months, 600,000 more children may miss out…

"U.N. warns of ‘catastrophic’ child malnutrition due to price hikes, Ukraine war"

Eni to open bank accounts to pay for Russian gas after EU clarification – sources

MILAN -Italian energy group Eni will open bank accounts this week to pay for Russian gas after clarification that such a move will not breach sanctions, two sources said on Monday. In updated guidance on Friday, the European Commission confirmed its previous advice that EU sanctions do not prevent companies from following Russia’s payment procedures which involve opening an account at a designated Russian bank. It said companies can pay for Russian gas – so…

"Eni to open bank accounts to pay for Russian gas after EU clarification – sources"

Democratic frontrunner in Pennsylvania Senate primary to skip rally after stroke

PHILADELPHIA – Pennsylvania Lieutenant Governor John Fetterman, the leading Democratic candidate for the U.S. Senate in the state, will skip his election night party on Tuesday as he recovers in a hospital from a stroke suffered during the final days of the campaign. Fetterman’s Pittsburgh rally will proceed without him “as he will remain in the hospital resting and recovering,” his campaign said in a statement on Monday. His wife, Gisele Fetterman, and other guests,…

"Democratic frontrunner in Pennsylvania Senate primary to skip rally after stroke"

Russia gives Credit Bank of Moscow licence to export gold

– Credit Bank of Moscow (MKB), one of Russia’s largest private lenders, has obtained a gold export licence from the government, it said on Monday, becoming the latest Russian bank to turn to precious metals trade to offset the impact of sanctions. The main operators of the gold market in Russia and its largest lenders – Sberbank and VTB – have been hit by harsh Western sanctions imposed on Moscow after it sent tens of…

"Russia gives Credit Bank of Moscow licence to export gold"

Russia says it will evacuate wounded Ukrainian soldiers from Azovstal

LONDON – Russia said on Monday that it had agreed to evacuate wounded Ukrainian soldiers from the bunkers below the besieged Azovstal steel works in Mariupol to a medical facility in the Russian-controlled town of Novoazovsk. “An agreement has been reached on the removal of the wounded,” the Russian defence ministry said in a statement. “A humanitarian corridor has been opened through which wounded Ukrainian servicemen are being taken to a medical facility in Novoazovsk.”…

"Russia says it will evacuate wounded Ukrainian soldiers from Azovstal"

Return of the Moskvich: Russia to revive ‘legendary’ Soviet-era car after Renault exit

(Corrected to say $1 billion not $1 million in the ninth paragraph.) -A Soviet-era car brand the “Moskvich” could make a surprise comeback in Russia, as Moscow takes over assets belonging to Renault following the French carmaker’s exit from the country. Moscow’s mayor Sergei Sobyanin said he would nationalise Renault’s car factory in the city, after the Western carmaker said it was selling its local business following the start of the conflict in Ukraine. The…

"Return of the Moskvich: Russia to revive ‘legendary’ Soviet-era car after Renault exit"

EU, U.S. raise cooperation to counter Ukraine war disruption

PARIS – The European Union and the United States agreed on Monday to cooperate more closely to counter disrupted supply of industrial commodities and food caused by Russia’s invasion of Ukraine and to combat disinformation from Moscow. Senior EU and U.S. officials convened in Paris for the second Trade and Technology Council, a forum initially seen as a transatlantic counterweight to China, but now with a clear focus also on Russia. In a joint statement,…

"EU, U.S. raise cooperation to counter Ukraine war disruption"

McDonald’s to exit Russia after more than 30 years

– McDonald’s Corp said on Monday it has started a process to sell all its restaurants in Russia, exiting the country after more than 30 years following its invasion of Ukraine. The world’s largest fast food chain had in March decided to close its 847 restaurants in Russia, taking a hit of $50 million per month. It now expects to record a non-cash charge of about $1.2 billion to $1.4 billion following the sale. The…

"McDonald’s to exit Russia after more than 30 years"