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Stories Tagged as

Russia-Ukraine War

Russia is trying to prop up the ruble ... but it's not working

by Sabri Ben-Achour
Mar 2, 2022
The ruble is a free-floating currency whose value tracks supply and demand. But sanctions have demolished demand and wrecked the market.
A currency exchange office in St. Petersburg, Russia. People are trying to unload their rubles as the value of the currency plummets.
Olga Maltseva/AFP via Getty Images
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International companies exiting Russia face logistical challenges

by Amy Scott
Mar 2, 2022
ExxonMobil has a 30% stake in the Russian oil and gas project Sakhalin-1. Divesting may be time-consuming and expensive.
For ExxonMobil, divesting from Russia might be difficult.
Brandon Bell/Getty Images
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Rising wheat prices stoke fears for countries importing from Russia and Ukraine

by Savannah Maher
Mar 2, 2022
More than a quarter of the world's wheat exports come from Ukraine and Russia. Disruptions will affect the Middle East and North Africa most.
The Middle East and North Africa stand to be hit the hardest by high prices for wheat.
Mohammed Huwais/ AFP Getty Images
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There's an oil market crisis even without sanctions on Russian exports

by Samantha Fields
Mar 2, 2022
Brent crude rose above $113 a barrel Wednesday — the highest level in eight years.
Though oil prices have reached the highest levels in eight years, OPEC+ is choosing not to ramp up production.
Frederic J. Brown/AFP via Getty Images
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The other oil market that's being disrupted by the conflict in Ukraine: the oils we eat

by Andy Uhler
Mar 2, 2022
Ukraine and Russia are big producers of sunflower oil, so turmoil in that market is roiling the edible oil markets.
The Black Sea region accounts for more than half of the world's sunflower oil output and more than three quarters of sunflower oil exports.
Evgenii Zorin / Getty Images
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Ukraine turns to its cryptocurrency ties for aid with funding

by Savannah Maher
Mar 2, 2022
Experts say there are some advantages to crowdfunding this way.
A woman plays with her dog in front of a large street art mural promoting the Floki Inu cryptocurrency on Feb. 2, 2022 in Kyiv, Ukraine.
Chris McGrath/Getty Images
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The Russian invasion of Ukraine is rippling through the customs business

by Sean McHenry
Mar 1, 2022
Gretchen Blough, a customs broker in Erie, Pennsylvania, explains how the geopolitical turmoil is affecting her company.
The EU and Canada have banned Russian planes from their airspace, and that's being felt throughout the supply chain. "There's all kinds of commercial flights that have been interrupted because of this," customs broker Gretchen Blough says.
Chandan Khanna/AFP via Getty Images
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As the ruble tumbles, cryptocurrency attracts ordinary Russians, oligarchs, maybe even the state itself

by Matt Levin
Mar 1, 2022
In some ways, cryptocurrency is perfect for the conditions the war is creating.
With the crash of the ruble, Russians are turning to cryptocurrency.
Kirill Kudryavstev/AFP Getty Images
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Facebook, TikTok and YouTube ban Russian state media channels

by Samantha Fields
Mar 1, 2022
The bans follow Russia's invasion of Ukraine. Social media platforms have often resisted calls to restrict controversial content.
A van owned by the RT broadcast network in Moscow. Social media platforms have banned content from Russian state-owned media channels, including RT, in Europe.
Mladen Antonov/AFP via Getty Images
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Russia tries to stop exit of Western businesses as departures accelerate

by Meghan McCarty Carino
Mar 1, 2022
We’ve seen widescale repudiation of a country by the global business community before, but this feels different.
An empty space in a Virginia store where Russian vodka used to sit. The beverage will no longer be sold at state-controlled stores in Virginia following Russia's invasion of Ukraine. Other liquor stores around the country are joining the boycott.
Stefani Reynolds/AFP Getty Images
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