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Russia-Ukraine War

Could China's payments system be a SWIFT workaround for Russia?

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Mar 1, 2022
China's system is known as the Cross-Border Interbank Payments System, or CIPS for short.
China's CIPS interbank payments system is seen as a possible avenue for Russia after it was cut off from the more widely used SWIFT system.
ISAAC LAWRENCE/AFP via Getty Images
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As oil companies divest from Russian oil and gas, what happens to their assets?

by Andy Uhler
Mar 1, 2022
The decision by big oil companies like BP and Royal Dutch Shell to walk away from Russian energy puts the industry into uncharted territory.
Royal Dutch Shell, BP and other energy companies are shunning Russian oil and gas in what experts are calling an unprecedented stance.
Spencer Platt/Getty Images
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Humanitarian aid to Ukraine takes many forms

by Stephanie Hughes
Mar 1, 2022
The U.N. estimates that between 3 million and 5 million people could be displaced in the coming months.
Volunteers of a humanitarian center sort clothes donated for evacuees in the western Ukrainian city of Lviv on Feb. 27, 2022.
YURIY DYACHYSHYN/AFP via Getty Images
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Amid wave of sanctions, Russia's energy sector is getting off pretty light so far

by Kai Ryssdal and Sean McHenry
Feb 28, 2022
Oil and gas are key to the Russian economy, yet penalties are focused elsewhere. Could that stance change?
The construction site of a Russian platform that will hold liquified natural gas.
Mario Tama/Getty Images
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How sanctions could make life harder for Russian citizens

by Kristin Schwab
Feb 28, 2022
Long lines at ATMs. A significant drop in the ruble's value. Economic sanctions are already being felt by everyday Russians.
The ruble has lost about 25% of its value since Friday. Above, people walk past a currency exchange office in Moscow.
Alexander Nemenov/AFP via Getty Images
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How sanctions will prevent Russia from using its $600 billion-plus rainy day fund to prop up the ruble

by Mitchell Hartman
Feb 28, 2022
Much of the fund is in banks outside Russia — and now off-limits to the country's central bank.
An electronic sign with currency values in Moscow. Russia's plan to bolster the ruble with foreign reserves isn't panning out.
Alexander Nemenov/AFP via Getty Images
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Sectors that rely on Ukrainian industry slow down

by Lily Jamali
Feb 28, 2022
Industries ranging from chemicals to agricultural processing and building materials are being affected.
The global supply chain is set to face further disruptions following Russia's invasion of Ukraine.
Pierre Crom/Getty Images
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Germany turns tough toward Russia over Ukraine invasion

by Stephen Beard
Feb 28, 2022
Germany dropped its opposition to some tough new sanctions against Russia and is now stepping up spending on defense.
German Chancellor Olaf Scholz, seen above, announced a sharp increase in military spending on Sunday.
Clemens Bilan/Getty Images
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How Russia could feel the sting of being excluded from SWIFT

by David Brancaccio and Rose Conlon
Feb 28, 2022
Being cut off from the SWIFT system means Russian banks can't legally or efficiently execute transactions.
A protester holds a placard during a rally against Russia's invasion of Ukraine, at Place de la Republique in Paris, on Febr. 26, 2022.
GEOFFROY VAN DER HASSELT/AFP via Getty Images
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How do sanctions against Russian oligarchs actually work?

by Matt Levin
Feb 25, 2022
A relatively small team in the Treasury Department works with banks to ensure sanctions are followed.
"These are people who personally gained from the Kremlin’s policies, and they should share in the pain," President Joe Biden said of sanctions aimed at Russian oligarchs.
Drew Angerer/Getty Images
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