NIESR top economist: Bank of England has tools to fight inflation May 30, 2022 The UK economy is in a bit of a bind. Households are being squeezed by historic rises in their living costs, while businesses’ margins are thinning due to expenses soaring. A much higher than expected inflation crunch – primarily the result of Russia’s unforeseen invasion of Ukraine – is forecast to trigger a spending pull [...]
EU prepared to water down oil ban to secure agreement ahead of summit May 29, 2022 The EU is edging towards a watered down package of sanctions on Russia after weeks of talks with holdout country Hungary.
Ukraine puts pressure on Germany to limit Russian gas through Nord Stream 1 pipeline May 29, 2022 Germany is under pressure to reduce its consumption from the Nord Stream 1 pipeline, as Ukraine looks to fund its war efforts through transit fees.
Iran seizes Greek oil tankers in escalation of Tehran’s spat with Western powers May 28, 2022 Iran’s Revolutionary Guards have seized two Greek oil tankers, after the Iranian government said it would take “punitive action” against Greece over its seizure of an Iranian oil cargo last month. Iran’s Islamic Revolutionary Guard Corp (IRGC) said it had seized two Greek tankers sailing in international waters off the coast of Iran. The seizures [...]
Russian Army is ‘chewing through ground’ in Donbas as Kremlin makes ‘palpable progress’ in Ukraine this week May 28, 2022 Vladimir Putin’s Russian Army is making “palpable progress” in the Donbas region after abandoning the attempt to encircle Kyiv, Boris Johnson said this morning. Johnson argued, in an interview with Bloomberg, that more offensive weapons including long-range multiple-launch rocket systems (MLRSs) are needed. He stressed the “vital” need to provide Ukraine with fresh military support [...]
Anchors away: Princess Yachts on the lookout for new owners May 27, 2022 City sources have suggested that Princess Yachts is up for sale as more and more Russian-owned luxury boats are seized by the government.
Even in these dark times, remember Bitcoin could still bring some light to the world May 27, 2022 Jason Deane reflects on a bad week for the world, but offers uplifting positivity where a future can be helped with Bitcoin.
Fugitive Russian oligarch allowed to sell Belgravia mansion to pay £10m legal fees May 26, 2022 A High Court judge has said fugitive Russian banker Georgy Bedzhamov should be allowed to sell his £35m Belgravia mansion, to pay his lawyers £10m in legal fees. The High Court gave Bedzhamov the OK to sell his mansion on London’s ultra-expensive Belgrave Square, to pay £5m to Mishcon de Reya and a further £5m [...]
Insurance sector exodus could serve major hit to Russia’s energy exports May 25, 2022 Efforts on the part of insurers to cut their links to Russia could put a stranglehold on Russian energy exports, unless the Kremlin fills the void, analysts have said. The push amongst Western insurance companies to distance themselves from Russian clients, to ensure they are not in breach of Western sanctions, could severely impact the [...]
Oil prices remain elevated as US refineries ramp up processing while EU edges toward embargo May 25, 2022 Oil prices rose slightly today, buoyed by US refinery processing levels and growing expectations of an EU ban on Russian imports.