Lost Russian oil revenue is bonanza for shippers, refiners
Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Germany’s half-a-trillion dollar energy bazooka may not be enough
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
Top European bankers warn on recession, China and U.S. banks
Deutsche Bank (DBKGn.DE) chief Christian Sewing, painting a bleaker assessment of the German economy, warned on Wednesday that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors.
Russian gas cut to Europe hits economic hopes, Ukraine reports attacks on coastal regions
Russia said it will cut gas supplies to Europe from Wednesday in a blow to countries that have backed Ukraine, while missile attacks in Black Sea coastal regions raised doubts about whether Russia will stick to a deal to let Ukraine export grain.
