CONFLICTS

The price of diesel hit an all-time high in the United States this week as energy markets around the world cope with ongoing disruptions amid Russia's invasion of Ukraine.

European Union countries next week are likely to approve a phased embargo on Russian oil, dealing a significant economic blow to Moscow over its invasion of Ukraine, The New York Times is reporting.

The Russian war in Ukraine has sent the global cost of food and energy soaring, and costs are expected to remain elevated in the coming three years, the World Bank said in a grim economic forecast this week.

Polish and Bulgarian officials said Tuesday that Russian energy company Gazprom informed them it was suspending natural gas supplies to the two countries for their refusal to pay in Russian rubles.

SpaceX has notched "eye-watering" wins against Russian hackers as it tries to keep Ukraine connected to the internet, Pentagon officials said this week.

The global economic outlook has darkened considerably as the Russian war in Ukraine and sky-high inflation weigh on the still-fragile recovery from the pandemic, the International Monetary Fund warned on Tuesday.

Multiple GOP state Attorneys General are calling on President Biden to reauthorize the Keystone XL pipeline, saying that his decision to revoke the Trump-era permit has contributed to record-high gas prices and made U.S. allies more dependent on Russia during its invasion of Ukraine.

The World Bank cut its forecast for global economic growth this year as a result of the Russian war in Ukraine and is preparing a $170 billion aid package for struggling nations.

The Russian economy is poised to collapse this year after the U.S. and its European allies hit the Kremlin with a slew of crippling financial penalties over its unprovoked invasion of Ukraine.

IMF chief warned this week that Russia's invasion of Ukraine has weakened the economic outlook for most of the world and sky-high inflation posed a "clear and present danger" to the global economy.

Russia may have defaulted on foreign bonds for the first time since the years following the 1917 Bolshevik revolution.

Uber said it is restarting its ridesharing service in the Ukrainian capital of Kyiv on Thursday with the goal of supporting “a return to normality as quickly as possible.”

Treasury Secretary Janet Yellen on Wednesday warned of major consequences for countries that undermine the sanctions that the U.S. and its Western allies have imposed on Russia over the war in Ukraine war.

Boeing Co. on Tuesday moved orders for 141 of its airplanes into accounting limbo due to the war in Ukraine and international sanctions against Russia, meaning it no longer expects the jets to be delivered.

If Western countries implemented a "real embargo" on Russian oil and gas, then Putin's invasion of Ukraine could come to a halt in just a couple of months, a former chief economic adviser to Putin told the BBC.

Ukraine's economic output will likely contract by a staggering 45.1% this year as Russia's invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday.

YouTube has blocked Russia's DumaTV.

Italian Prime Minister Mario Draghi is expected to visit Algeria Monday as part of a plan for his country to wean itself off Russian natural.

Ukraine provides upwards of 90% of the global supply of neon gas required for manufacturing semiconductor chips, and Russia supplies as much as 28% of the global supply of palladium.