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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.
US President Donald Trump said Monday that Washington and New Delhi are “pretty close” to finalising a trade agreement that could ease tariffs and mark a breakthrough in months of tense negotiations between the two countries.
A new era in global economic competition may be dawning with the acquisition by China's JD.com, one of the Far East's largest online and offline retail companies, of a 57.1 percent majority stake in Germany's Ceconomy, which operates the MediaMarkt and Saturn retail chains, for 860 billion forints. This move is not merely a business transaction, but a symbolic sign of the restructuring of the global economy: while a decade ago Western companies were trying to conquer the Chinese market, now Chinese companies are preparing to take over European shelves. The acquisition of JD.com suggests that the Chinese economic model is no longer based solely on the role of supplier, but on the global positioning of its own brands and products, according to the analysis by Oeconomus.
China has suspended its export ban on key technology metals to the United States, including gallium, germanium and antimony – materials vital for semiconductor and high-tech production – Beijing’s commerce ministry announced on Sunday.