World

As energy prices skyrocket and Europe considers a ban on importing Russian oil and gas, policymakers should consider how to build a stronger energy system, better prepared for future disruptions.

Ukraine is often referred to as the breadbasket of the world and the halt of its wheat and grain exports could threaten the food supply across Europe and other regions.

Under the new rules, air-traffic controllers have the ability to direct pilots or operators of Russian aircraft–or jets they believe are being used by Russians–not to enter U.K airspace. The new rules also allow officials to detain aircraft they suspect are linked to Russia.

American business owners in the hospitality and food and beverage sector are showing support for Ukraine in light of Russia’s attacks by renaming Moscow Mules – a popular drink that’s typically made from ginger beer, lime juice and vodka.

Oil and gas industry insiders say soaring energy prices exacerbated by Russia's attack on Ukraine should serve as a "wake-up call" to U.S. policymakers.

Representatives of the energy industry Tuesday said the ban on Russian oil imports shows how important it is to develop domestic energy.

Russia’s central bank, faced with unprecedented sanctions and a plummeting ruble, said Wednesday it was suspending the sale of foreign currencies through September.

Procter & Gamble Co. is ending all new capital investments in Russia and "significantly reducing" its portfolio to focus on basic hygiene, health, and personal care items, CEO Jon Moeller said in a letter to employees posted on its website on Monday.

The war in Ukraine has had broad consequences for international transport and global supply chains. Dozens of cargo ships are stranded at the Ukrainian port of Mykolaiv, shipping trackers said. An estimated 3,500 sailors have been stuck on some 200 ships at Ukrainian ports.

The corporate exodus from Russia continued Tuesday as McDonald's, Coca-Cola, Starbucks, and Pepsi announced that they are temporarily suspending business in Russia over Putin's invasion of Ukraine.

American credit rating agency Fitch Ratings has downgraded Russia’s credit rating from a “B” to a “C” and suggested that a sovereign default is imminent as the country continues to face economic backlash from its decision to invade neighboring Ukraine roughly two weeks ago.

Starbucks and Coca-Cola have announced the companies are suspending operations in Russia, while Amazon Web Services said it would not be signing new clients either in Russia or Belarus.

Sen. Boozman asks U.S. Secretary of Agriculture to delay the Conservation Reserve Program sign-up deadline for farmers, in an effort to "ensure food security" following invasion of Ukraine

Coinbase chief legal officer Paul Grewal said in a blog post Monday that while most of the accounts were identified prior to Russia's invasion of Ukraine, their addresses have been shared with the government to further support sanctions enforcement.

Musk and Andreessen's criticism comes as investors have started mulling whether ESG rules should be updated to allow for investment in defense companies amid Russia's invasion of Ukraine.

Russia and Ukraine combined represented approximately 2% of McDonald's system-wide sales, roughly 9% of its revenue and less than 3% of its operating income in 2021.

Exporting more U.S. gas into Europe can "reduce that dependence" on Russian energy, a trade association CEO said.

While many countries in Europe were hoping for tourists to return after two years of the pandemic, Russia's invasion of Ukraine may hurt the recovery.

The market volatility and potential disruptions in exports in supply of commodities such as wheat and corn are adding more strain to farmers who are bearing costs from ongoing supply chain snarls.

Many Russian restaurants in New York City have been struggling ever since Russia invaded Ukraine.