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Generali pulls back from Russia, Intesa reviews business
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Analysis-Crypto exchanges won’t bar Russians, raising fears of sanctions backdoor
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Banks, IKEA, vodka-maker shun Russia as corporate exits increase
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Finns warm to NATO in alarmed reaction to Russian invasion of Ukraine
Britain must have solid case to sanction Russian oligarchs, government says
Date: March 3, 2022
By Michael Holden and William James LONDON (Reuters) – Britain must have a solid legal case before sanctioning individuals, a government spokesman said on Thursday, following a Times newspaper report it will not designate Roman Abramovich and other Russian oligarchs for weeks or months, if at all. There have been growing calls from British lawmakers...
SocGen fears confiscation of Russia assets as banks prepare for worst
Date: March 3, 2022
By Tassilo Hummel and Tom Sims PARIS/FRANKFURT (Reuters) – Societe Generale on Thursday warned of the possibility that Russia could strip the bank of its local operations, in one of the starkest warnings yet from a Western company about the potential impact of the war in Ukraine. The French bank, whose $20 billion exposure to...
Oil prices hit multi-year highs as supply tightens
Date: March 3, 2022
By Shadia Nasralla LONDON (Reuters) – Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel...
IKEA temporarily closes stores in Russia, flags bigger price hikes
Date: March 3, 2022
By Anna Ringstrom STOCKHOLM (Reuters) – IKEA, the world’s biggest furniture brand, is closing its stores in Russia and pausing all sourcing in the country and ally Belarus, joining the wave of Western firms curbing business with Russia after its invasion of Ukraine. The news, announced on Thursday, came as IKEA store owner Ingka Group’s...
Oil markets hit multiple records as Russia sanctions bite, disrupt trade flows
Date: March 2, 2022
By Florence Tan and Gavin Maguire SINGAPORE (Reuters) -Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers. Brent crude topped $112 a barrel on Wednesday, the highest since...
Russian oil disruptions escalate, global prices rise
Date: March 2, 2022
By Dmitry Zhdannikov and Julia Payne LONDON (Reuters) – Disruptions to Russian oil exports intensified on Wednesday with more countries and companies refusing to import and transport Russian crude and at least 10 tankers failing to find buyers, driving oil and gas prices higher. The United States and the European Union have imposed harsh sanctions...