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.
Exclusive: China readying $143 billion package for its chip firms in face of U.S. curbs
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
UAE says OPEC+ output cut was correct decision, no politics behind it
The United Arab Emirates believes that OPEC+ made the correct technical choice when it agreed to cut production and the unanimous decision had nothing to do with politics, energy minister Suhail al-Mazrouei said on Tuesday.
Ericsson says no hardware exported to Russia, only software support
Ericsson (ERICb.ST) said on Friday it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the Ukraine war started, after Swedish media reported the company had continued its exports.
Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say
The world’s largest crypto exchange, Binance, continued to process trades by clients in Iran despite U.S. sanctions and a company ban on doing business there, a Reuters investigation has found.
Analysis: Investors see risks spiking, fear market-wide liquidity crunch
Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets.
EU Parliament’s top group suggests blacklisting Switzerland after Credit Suisse leaks
The main political grouping in the European Parliament called on Monday for a review of Switzerland’s banking practices and for the country’s possible inclusion in the EU’s dirty-money blacklist after leaks of Credit Suisse (CSGN.S) documents.
