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Oil surges amid warnings of supply shortages

Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.

Explainer: Can Russia pay its creditors, and what happens if not?

Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions from Western capitals and countermeasures from Moscow.

Sanctioned Russia teeters on brink of historic default

The economic cost of Russia’s assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.

Myanmar to accept Thai baht for border trade, eyes using rupee

Myanmar will start accepting the Thai baht currency for settling border trade transactions and is also looking at a similar plan to use the Indian rupee for such trade, the ministries of information and investment said on Tuesday.

Oil surges amid warnings of supply shortages

Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.

Explainer: Can Russia pay its creditors, and what happens if not?

Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions from Western capitals and countermeasures from Moscow.

Sanctioned Russia teeters on brink of historic default

The economic cost of Russia’s assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.

Myanmar to accept Thai baht for border trade, eyes using rupee

Myanmar will start accepting the Thai baht currency for settling border trade transactions and is also looking at a similar plan to use the Indian rupee for such trade, the ministries of information and investment said on Tuesday.

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