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.
Exclusive: Moscow sets out new controls on foreigners trading Russia assets
Russia has set out strict rules for foreigners seeking permits to buy and sell Russian securities and real estate, a client memo by Citigroup (C.N) showed, as details emerge of new state controls on investment in response to Western sanctions.
Analysis: SPACs splash the cash to salvage deals as market unravels
SPACs are turning to costly new tactics to keep investors from jumping ship as market confidence wanes in the once red-hot alternative to IPOs.
Exclusive: ECB puts Russians in EU, even residents, under scanner
FRANKFURT/MADRID, March 15 (Reuters) – European Union regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions against Moscow, three sources told Reuters. The instructions from European Central Bank (ECB) supervisors mean tens of thousands of Russians […]
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.
UniCredit considers quitting Russia as markets watch for sovereign debt payment
UniCredit (CRDI.MI) is urgently reviewing its Russian business and could decide on a costly exit of the country after its invasion of Ukraine, the Italian bank’s CEO said on Tuesday, as markets watch for a payment on Russian sovereign debt.
Binance gets its first Gulf crypto licence in Bahrain
The world’s largest cryptocurrency exchange Binance has been given a crypto-asset service provider licence by Bahrain’s central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday.
EXCLUSIVE Petrobras and EIG near deal for Bolivia-Brazil gas pipeline -sources
State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters.
Allianz, Swiss Re join other financial firms in turning from Russia
Allianz (ALVG.DE) and Swiss Re (SRENH.S) said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia.
Barclays suspends sales of two products linked to oil, volatility
British bank Barclays (BARC.L) said on Monday it had suspended the sales and issuance of two exchange-traded notes (ETNs) with combined assets of about $1 billion – one linked to crude oil and another to a gauge of market volatility – due to capacity constraints, in a move that some investors said could spur big price swings in the products.
