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Eurasia
13/06/2024 13:45
Wednesday's package targeted Russia's financial infrastructure in an attempt to limit the amount of money flowing in and out of Russia.
The Moscow Exchange, the National Clearing Centre and the National Settlement Depository, which act as intermediaries in dollar trading on the Russian foreign exchange market, were included in the new sanctions list.
The sanctions come as G7 leaders are gathering in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia’s war machine.
The Central Bank of the Russian Federation also announced that transactions using the dollar and euro will continue to be made on the over-the-counter market.
The US has sanctioned more than 4,000 Russian businesses and individuals since the war began, in an effort to choke off the flow of money and armaments to Moscow.
The UAE’s economic growth is no longer driven by oil. The country is building its trade relations with great skill and strategy: oil has now been replaced by international shipping and trade. The favorable tax environment and free trade zones, which allow businesses to be established quickly and easily, provide an ideal breeding ground for investors.
China’s economy expanded at an annual rate of 5.4 per cent in the January–March period, the government announced on Wednesday, driven by strong export performance ahead of US President Donald Trump’s rapid escalation of tariffs on Chinese goods.
Kazakhstan has unveiled a major rare earth discovery in its Karagandy region, potentially containing up to 20 million tonnes of reserves. Announced ahead of the EU–Central Asia Summit, the find could elevate Kazakhstan’s global standing in critical minerals, though experts urge caution as further studies are needed.