Russia Is Biggest Supplier Of Natural Gas To China
New data out from the Chinese customs agency shows Russia has beaten Turkmenistan, Qatar, and Australia, to become China’s largest supplier of natural gas. Russia supplied 2.7 billion cubic meters…
Oil Prices Crash On Fears Of Recession
On Monday, oil prices fell to the lowest levels in 15 months, as fears over risks in the global banking sector spiraling into a global recession gripped investors, and prompted…
G7 Central Banks Act To Boost Dollar Funding
In a joint statement, the US Federal Reserve and five other major central banks announced they are launching a coordinated effort to increase the flow of US dollars throughout the…
European Bank Stocks Fall As UBS-Credit Suisse Merger Fails To Calm Fears
On Monday, Switzerland’s two largest investment banks, UBS and Credit Suisse, saw their stock prices plummet as news of their weekend merger failed to calm a jittery market that remains…
Russia Bans SWIFT System
On Monday The Bank of Russia announced all Russian financial institutions will be banned from using the SWIFT messaging system for transactions inside the country. As of October all Russian…
Indonesian President Says Western Payment Systems Pose Danger Due To Sanctions-Potential
Indonesian President Joko Widodo says his nation must work to reduce its dependency on Western payment systems, to avoid being at risk of disastrous economic consequences, should his nation ever…
Biden Administration Talking To Buffet About Banks
On Sunday, Bloomberg reported that sources within the Biden administration were saying senior US officials have been in talks with the Oracle of Omaha, Warren Buffet, on the unfolding banking…
German Official Says Next Year Could See An Energy Crisis
In an interview with the Rheinische Post, published on Saturday, Klaus Mueller, Germany’s head of the Federal Network Agency, said, that although Germany has managed to avoid an energy crisis…
EU Automaker Endures $740 Million Hit To Exit Russia
Klaus Zellmer, the CEO of Skoda Auto, a Czechoslovakian unit of Germany’s Volkswagen, announced his company is close to closing a deal to finalize its exit from Russia and sell…
UBS Buys Out Credit Suisse
By Sunday afternoon, USB had solidified a takeover of Credit Suisse as markets watched wearily, uncertain if this was a sign of the end of the banking crisis, or just…
