G-7 nations to announce import ban on Russian gold

The move would add to a series of punitive penalties imposed by the West on Russia since its onslaught of Ukraine began on Feb. 24. Maxim Shemetov | Reuters The leaders of the G-7 nations will announce a ban on Russian gold imports for Moscow’s unprovoked invasion of Ukraine, US President Joe Biden confirmed on … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

UK confirms plans to make changes to Northern Ireland protocol

Truss had previously warned the UK would have “no choice but to act” if EU lawmakers do not show the “requisite flexibility” over the protocol. Janine Schmitz | Photothek | Getty Images British Foreign Secretary Liz Truss confirmed on Tuesday that the government intends to introduce legislation to make changes to the Northern Ireland protocol … Read more

UK threatens to scrap parts of Brexit deal

Johnson will visit Northern Ireland on Monday to hold emergency talks. Daniel Leal | dpa | Getty Images LONDON — The UK government is again threatening to unilaterally override large parts of the Brexit deal agreed with the European Union, raising the prospect of a trade war amid a power-sharing crisis in Northern Ireland. UK … Read more

British pound plummets as Bank of England warns of recession risk

Sterling hits its lowest level since Jul. 1, 2020. Matt Cardy | Getty Images The British pound on Thursday was set for its largest daily drop since the onset of the coronavirus pandemic, after the Bank of England warned of a sharp growth slowdown in the UK economy. Sterling hit a low of 1.2393 against … Read more

How much can — and will — China help Russia as its economy crumbles?

Russia’s President Vladimir Putin (R) shakes hands with his China’s counterpart Xi Jinping during a signing ceremony following the Russian-Chinese talks on the sidelines of the Eastern Economic Forum in Vladivostok on September 11, 2018. Sergey Chriikov | AFP | Getty Images Sanctions, asset freezes and withdrawals of international companies are hammering the Russian economy … Read more

Russia’s ruble hits record low against dollar

Russia’s ruble plunged Thursday as the country’s military invaded Ukraine. The dollar was up more than 10% against the Russian currency, sending the ruble to its lowest level ever against the dollar. The ruble was trading at 89.8903 to the dollar at 8:40 am in Moscow, with the greenback up 10.45% against it from the … Read more