U.S., Allies Prepare Fresh Sanctions on Russian Oil Industry
Treasury officials are in Europe this week discussing price caps that go into effect next month. Source link
Trade/External Payments
Economy Week Ahead: Consumer Inflation in Focus
EconomyEconomy Week AheadU.S. and Chinese governments to report latest price trends Source link
Russia Bans Sales of Oil to Countries Imposing Price Cap
The action follows moves by the Group of Seven nations barring Western companies from insuring, financing or shipping Russian crude...
EU Sues China in WTO Over Trade Retaliation on Lithuania
WorldEuropeChina’s near-total curtailment of exports from Lithuania followed moves by the Baltic state to support Taiwan Source link
Railroads Focus on Stabilizing Workforce After Strike Is Averted
BusinessFederal regulator and businesses criticize service disruptions; Norfolk Southern rethinks furloughs Source link
Oil Price Rises After Russia Cap Kicks In
MarketsCommoditiesThe sanctions aim to crimp Russia’s oil income while preventing a surge in energy prices Source link
G-7 Sets Russian Oil Price Cap of $60 a Barrel
The move came just hours after the European Union united behind the figure, as Western nations try to curb Moscow’s...
U.S. Poised to Grant Chevron License to Pump Oil in Venezuela
The move would come just as Western sanctions on Russia threaten to tighten global supplies. Source link
American Executives in Limbo at Chinese Chip Companies After U.S. Ban
SINGAPORE—American workers hold key positions throughout China’s domestic chip industry, helping manufacturers develop new chips to catch up with foreign...
Exxon CEO Warns Biden Administration Against Limiting Fuel Exports
Exxon Mobil Corp. is pushing back against reductions of U.S. fuel exports urged by the Biden administration in August, arguing...
Dollar’s Rise Spells Trouble for Global Economies
The U.S. dollar is experiencing a once-in-a-generation rally. For the rest of the world, that is a big problem.The dollar’s...
U.S. Trade Deficit Shrank in July
The U.S. reported a sharp narrowing in the July trade deficit due to weaker demand for imports, a positive sign...
Russia to Keep Nord Stream Pipeline Shut, Citing Mechanical Problems
Russia indefinitely suspended natural gas flows to Europe via a key pipeline hours after the Group of Seven agreed to...
U.S. Steps Up Enforcement of Its Long List of Russia Sanctions
WASHINGTON—The U.S. has imposed a set of powerful sanctions against Russia’s economy to punish it for the invasion of Ukraine....
Japanese Economy Recovers Prepandemic Size With 2.2% Growth
TOKYO—Japan’s economy recovered its prepandemic size in the April-June quarter thanks to strong consumer spending and higher exports, but inflation...
Russia, Ukraine Clear Way for Grain Exports to Resume Amid Fears of Global Food Crisis
ISTANBUL—Russia and Ukraine agreed Friday to resume exports of millions of tons of Ukrainian grain via the Black Sea for...
Russia’s Central Bank Slashes Rates, Sees Smaller Hit From Sanctions
Russia’s central bank Friday lowered its key interest rate below its prewar level, and said it expects the economy to...
Manufacturers Brace for Nord Stream Repairs, Fearing Pipeline Won’t Reopen
PARIS—European manufacturers are preparing for possible natural-gas rationing that would force them to shut production amid fears that Russia is...
Janet Yellen and China’s Top Trade Negotiator Discuss Tariffs on Call
HONG KONG—Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen spoke by videoconference about topics including American tariffs...
Economy Week Ahead: Focus on Hiring, Fed Minutes and Trade
TuesdayNew orders for manufactured goods have continuously increased since last September amid persistent supply-chain disruptions and a robust demand for...
