EU businesses have lost at least €250 billion ($266.6 billion) due to the sweeping sanctions imposed on Moscow, Russian Foreign Minister Sergey Lavrov stated on Wednesday. According to the top diplomat, these are “very conservative estimates” of the damage that the West has inflicted on its own businesses over the …
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The world’s richest man, Elon Musk, saw his fortune shrink by $16.9 billion on Friday, Forbes reports. Earlier this week, reports emerged of Musk’s plans to lay off 10% of Tesla’s employees and suspend hiring, citing the CEO’s leaked letter to senior management. As a result, Tesla shares dropped 9.2%, …
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Russia’s sanctions against Gazprom’s former German subsidiary may cost Germany around €5 billion ($5.36 billion) in additional expenses per year, the newspaper Welt am Sonntag reported on Sunday, citing sources within the industry. On March 31, Russia’s state energy giant and major gas exporter Gazprom exited Gazprom Germania in response …
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Brazilian presidential candidate Luiz Inacio Lula da Silva called out US President Joe Biden in two campaign speeches this week, citing the $40 billion in military aid Washington has pledged to Ukraine. Lula is polling far ahead of the incumbent, Jair Bolsonaro, in the upcoming presidential election. “Biden, who has never …
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After hounding the US and other NATO members for weeks about his need for heavy weapons to defend against Russia’s ongoing “special military operation”, Ukraine’s President, Volodymyr Zelensky, appears to have been granted his wish. The US Congress, on April 28, passed legislation that breathed life into a World War …
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German Chancellor Olaf Scholz has announced plans to spend an additional €2 billion ($2.16 billion) on military needs, most of which is aimed at providing supplies to Ukraine, Reuters reported on Friday. Citing a government source, the news agency said that approximately €400 million ($432.5 million) of the new money …
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Russia has increased its reserve fund used for emergency spending by 273.4 billion rubles ($3.52 billion), the government announced on Sunday. “The funds, among other things, will be used to implement measures aimed at ensuring economic stability in the light of external sanctions,” the press service of the Cabinet of …
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The EU Commission has triggered a new mechanism which could see billions of euros allocated for Hungary. The bloc has for years accused Budapest of undermining democracy and violating LGBT rights. Speaking in the European parliament on Tuesday, European Commission President Ursula von der Leyen explained that the European Commission …
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Poland has requested €2.2 billion from the EU to cover the costs associated with the Ukrainian refugees, the country’s deputy interior minister, Blazej Pobozy, has revealed. Speaking to the TVP Info broadcaster, Pobozy explained that, with such an influx of refugees, the costs are huge and are expected to rise …
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Large global banks are spending billions on oil and gas projects despite their participation in the Net Zero Banking Alliance (NZBA), which claims to take steps to achieve net-zero emissions goals, ShareAction climate campaigners have found. “NZBA [24] members provided at least $44.6 billion in financing to the top upstream …
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