Russia-Ukraine war Shell has pledged to stop buying oil from Russia as it apologised for its purchase of cheap Russian crude at the weekend. The energy giant also said it would close all its service stations in the country and stop all current work there. Shell came under huge criticism at the weekend after […]
By Daniel Thomas & Michael Race Business reporters, BBC News Russia-Ukraine war Russia has said it may close its main gas pipeline to Germany if the West goes ahead with a ban on Russian oil. Deputy Prime Minister Alexander Novak said a “rejection of Russian oil would lead to catastrophic consequences for the global […]
Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine. The oil giant said in a statement that the decision to purchase the fuel at a discounted price was “difficult”. It confirmed that it had bought a cargo of Russian crude oil on Friday but it had “no […]
Visa and Mastercard have announced they will suspend all operations in Russia in protest at its invasion of Ukraine. But Russia’s major banks, including state-backed Sberbank, have already downplayed the impact the move will have on consumers. Shoppers will still be able to use Mastercard and Visa-branded cards for purchases within Russia until they reach […]
Zara, Paypal and Samsung are the latest international firms to suspend trading in Russia after it invaded Ukraine. The clothes retailer’s owner, Inditex, will shut all 502 stores of its eight brands, including Bershka, Stradivarius and Oysho, from Sunday. Payment giant Paypal cited “violent military aggression in Ukraine” as the reason to shut down its […]
Airbus has joined rival planemaker Boeing and oil giant ExxonMobil on a growing list of corporate giants cutting ties with Russia. The European manufacturer said it had stopped support and supply of spare parts for Russia’s aviation industry. Earlier, Boeing suspended operations and ExxonMobil said it would end a multi-billion dollar joint venture with Russian […]
By Dearbail Jordan Business reporter, BBC News Russia-Ukraine war Russia’s central bank has issued an appeal for calm amid fears that new financial sanctions could spark a run on its banks. It said it “has the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector”. The EU, […]
By Tom Espiner Business reporter, BBC News Oil prices have surged past $100 (£74) a barrel to hit their highest level for more than seven years after Russia launched an invasion of Ukraine. Global shares fell and the price of gold rose as investors worried about the possible impact of the conflict. Russia is the […]
The US has added sites operated by Chinese technology giants Alibaba and Tencent to its “Notorious Markets List” of businesses it believes are involved with trading counterfeit goods. The list identifies 42 online sites and 35 physical stores, including e-commerce platforms, run by the firms. The US trade agency says they “engage in or facilitate […]
SBI said it has been diligently following the ABG Shipyard fraud case with the CBI, following the forensic audit report New Delhi: Amid allegations of delay in filing of a complaint against the country’s biggest bank fraud totaling ₹ 22,842 crores, the State Bank of India (SBI) on Sunday said it has been diligently following the […]
