Sanctions and strong ruble challenge Russia's crypto mining industry

Aug 9, 2022
A cold climate and cheap energy have made Russia a destination for bitcoin mining. But new factors confront its cryptocurrency efforts.
The strength of the Russian ruble has made it costly to mine cryptocurrency there. Above, a bitcoin mining center in Kirishi, Russia.
Olga Maltseva/AFP via Getty Images

Germany under fire from neighbors for its dependence on Russian energy

Aug 3, 2022
Fear that Russia may terminate all natural gas flows to Europe's largest economy is causing friction among EU countries.
Some countries in Eastern Europe objected to Germany building ties with Russia around natural gas imports via the Nord Stream pipeline. Now, Germany is scrambling to prepare for additional supply cuts.
Odd Anderson/AFP via Getty Images

Food price increases show signs of moderating

Aug 1, 2022
Grocery prices are up more than 12% over the past year. Climate change, the war in Ukraine and energy costs all have something to do with it.
A ship carrying corn leaves Odessa, Ukraine, on Monday, bound for Lebanon. Ukraine is an important producer of grain for world markets, and the Russian invasion prevented food exports for months.
Oleksandr Gimanov/AFP via Getty Images

As Russia limits Europe's natural gas supply, Germany pays the price

Jul 26, 2022
Europe's largest economy depends on Russian gas. Vladimir Putin is using it as a political weapon.
Last year, Russia supplied more than half of Germany’s natural gas.
Ina Fassbender/AFP via Getty Images

The EU wants Europeans to cut natural gas use 15% in case Russia limits supply

Jul 20, 2022
Several EU nations, including Germany, depend on Russian gas. The Nord Stream pipeline reopens Thursday, but supply is uncertain.
The Nord Stream 1 pipeline brings Russian natural gas to Western Europe. The European Union is asking member nations to conserve gas to prevent a potential energy crisis.
Edouard Merlo/AFP via Getty Images

Some African countries are benefiting from EU members' search for new energy sources

Jul 19, 2022
South Africa has seen a boom in coal exports. But critics say European countries shouldn't keep feeding their coal habit.
The European Union will stop importing Russian coal in August. Above, coal storage for the coal-fired power plant of the German energy supplier Steag in Duisburg, Germany.
Ina Fassbender/AFP via Getty Images

The U.S. tries to build support for a price cap on Russian oil

Jul 13, 2022
Experts say buy-in from China and India would be key to making the policy work.
The U.S. and its allies hope to create a "buyers cartel" aimed at reducing Russia's oil revenue in response to its attack on Ukraine.
Frederic J. Brown/AFP via Getty Images

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Coal's comeback threatens global goals for fighting climate change

Countries are turning back to less expensive but carbon-heavy coal because of rising energy costs and Russia's war in Ukraine.
With the war in Ukraine restricting Europe's access to Russian energy, Germany is among the nations seeking alternative fuels for generating electricity, including more coal.
Andreas Rentz/Getty Images

U.S. pushes for Russian oil price ceiling. Feasible?

Jun 28, 2022
Advanced nations will evaluate the idea in an effort to limit Russia's energy revenue. But Russia could retaliate.
An oil refinery on the outskirts of Moscow. Although the advanced nations are considering a price cap on Russian oil, Russia could retaliate by shutting off the flow of natural gas to Europe.
Natalia Kolesnikova/AFP via Getty Images

As Russia defaults on its foreign debt, sanctions blitz batters economy

Jun 27, 2022
Russia is feeling the impact of Western economic curbs, leading to product shortages and manufacturing slowdowns.
Russian President Vladimir Putin, left, takes a meeting. Experts don't see Russia's default as a serious blow to its economy, but sanctions are also causing product shortages and manufacturing slowdowns.
Mikhail Metzel/Sputnik/AFP via Getty Images