Russia-Ukraine war: What is concerning RBI, SBI, other banks in India?
2 years, 10 months ago

Russia-Ukraine war: What is concerning RBI, SBI, other banks in India?

India Today  

The ongoing war between Russia and Ukraine has ripple effects on crucial aspects of the global economy - stock markets around the world and international oil prices. PAYMENT ISSUE Banks in India were scrambling after bills for imports from Russia have started bouncing and payments for exports have been stuck in the wake of sanctions imposed by the west on Russia following its invasion of Ukraine, Reuters reported. The Reserve Bank of India met with select bankers and is trying to assess the exposure that lenders have to Russia and to Ukraine and the impact it may have on Indian banks, said another senior banking executive. Meanwhile, banks have started contacting corporate clients to understand their exposure to Russia and to Ukraine to see if their business could be significantly impacted, resulting in delayed loan re-payments for banks, according to Reuters. India’s main imports from Russia include fuels, mineral oils, pearls, precious or semi-precious stones, nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment and fertilisers.

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History of this topic

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war
1 month, 2 weeks ago

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

Associated Press  

WASHINGTON — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday — in a move intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining …

India and Russia have doubled rupee-rouble payments in 2024, says largest Russian bank
5 months, 3 weeks ago

India and Russia have doubled rupee-rouble payments in 2024, says largest Russian bank

The Hindu  

India and Russia have doubled their payments in national currencies since last year despite sanctions by the U.S. and European Union, said Russia’s largest, state-controlled bank Sberbank that handles a majority of payments for Indian exports to Russia. The surge may rise further after Prime Minister Narendra Modi’s visit to Moscow last week, economists and Indian businessmen working in Russia …

Watch: Modi-Putin meet- What is India’s message from Moscow?
5 months, 4 weeks ago

Watch: Modi-Putin meet- What is India’s message from Moscow?

The Hindu  

There were many firsts to PM Modi’s two day visit to Russia, his first since the invasion of Ukraine, and his first destination for a bilateral summit in his 3rd tenure in office, the first time they held the Annual Summit since 2021, and the first time an Indian leader was awarded Russia’s. The India Russia Joint Statement issued spoke …

Fear of sanctions keeps SBI off Russian oil deals
11 months, 4 weeks ago

Fear of sanctions keeps SBI off Russian oil deals

Live Mint  

NEW DELHI : State Bank of India has long avoided payment transactions for Russian oil bought by state-run refiners to avert US sanctions that came into force on 5 December 2022, two people aware of the matter said. Mint also reported about India’s largest lender requesting data on purchasing prices from refiners such as Indian Oil Corp. Ltd, Bharat Petroleum …

'Have billions of rupees in Indian banks which we can't use': Russian Foreign Minister
1 year, 8 months ago

'Have billions of rupees in Indian banks which we can't use': Russian Foreign Minister

India TV News  

Russian foreign minister Sergei Lavrov during his recent visit to India to attend SCO foreign minister's meeting in Goa made a remark saying that Moscow has billion of rupees in Indian banks but they can't use them. "This is a problem," said Russian Foreign Minister Sergei Lavrov while speaking to reporters in Goa on the sidelines of the SCO foreign …

Russia says it has billions of Indian rupees that it can’t use
1 year, 8 months ago

Russia says it has billions of Indian rupees that it can’t use

Live Mint  

Russia has accumulated billions of rupees in Indian banks which it can’t use, Foreign Minister Sergei Lavrov said Friday, pointing to a ballooning trade surplus with the South Asian nation. But for this, these rupees must be transferred in another currency, and this is being discussed now.” India’s total exports to Russia shrunk 11.6% to $2.8 billion in the first …

India’s oil deals with Russia dent decades-old dollar dominance
1 year, 10 months ago

India’s oil deals with Russia dent decades-old dollar dominance

Live Mint  

U.S.-led international sanctions on Russia have begun to erode the dollar's decades-old dominance of international oil trade as most deals with India - Russia's top outlet for seaborne crude - have been settled in other currencies. After a coalition opposed to the war imposed an oil price cap on Russia on Dec. 5, Indian customers have paid for most Russian …

Indian banks 'overcautious' in Rupee-Rouble trade settlement owing to US restrictions: Russian envoy
1 year, 11 months ago

Indian banks 'overcautious' in Rupee-Rouble trade settlement owing to US restrictions: Russian envoy

Firstpost  

Denis Alipov affirmed that restrictions on Russia’s use of SWIFT will not be lifted in the near future. He added that India and Russia ’need to invent something new’ to continue their economic relations and trade New Delhi: Russia says Indian banks are cautious about using a rupee-rouble payment system for trade settlement because of concerns about “secondary restrictions” from …

How Iran and Russia are connecting their banking systems amid Western sanctions
1 year, 11 months ago

How Iran and Russia are connecting their banking systems amid Western sanctions

Firstpost  

A senior Iranian official said on Monday that Iran and Russia have linked their interbank communication and transfer systems to help boost trade and financial transactions as both Tehran and Moscow are chafing under Western sanctions Dubai: Iran and Russia have connected their interbank communication and transfer systems to help boost trade and financial transactions, a senior Iranian official said …

Why trade settlement in Indian rupee is important for Russia?
1 year, 11 months ago

Why trade settlement in Indian rupee is important for Russia?

Firstpost  

Russia using Indian rupee trade mechanism will increase the volumes of products that New Delhi supplies to Moscow New Delhi: Late in December 2022, Russia became the first country to switch trade settlements in Indian rupee. Must Read: Russia starts foreign trade settlements in rupee, more countries to join According to a report by Reuters, the European Union is eyeing …

Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary
2 years, 4 months ago

Russia’s Sberbank to sell off sanctions-hit Swiss subsidiary

Associated Press  

GENEVA — The Swiss financial markets watchdog said Friday that Sberbank, one of Russia’s largest banks, is selling its Swiss subsidiary, which had come under pressure because of international sanctions on Russian interests over the invasion of Ukraine. FINMA, the Swiss markets authority, said in a statement Friday that it had lifted “protective measures” — mainly to protect clients — …

No evidence of Indian companies circumventing Russian sanctions: US official
2 years, 4 months ago

No evidence of Indian companies circumventing Russian sanctions: US official

Firstpost  

The Treasury Department official is on a multi-day visit to India, which will include meetings in the financial capital and New Delhi Mumbai: The US Deputy Secretary of Treasury Wally Adeyemo on Wednesday said there is “no evidence” of Indian companies circumventing the sanctions imposed following Russia’s invasion of Ukraine. “I’ve seen no evidence of Indian companies circumventing sanctions that …

Differences over Ukraine crisis will have no impact on India-Europe ties: German envoy
2 years, 7 months ago

Differences over Ukraine crisis will have no impact on India-Europe ties: German envoy

India TV News  

Highlights German Ambassador stated that the Ukraine crisis will not impact the ties between the two nations He also stated that Russia needs to be stopped as quickly as possible The world had expected India to be clearer on the condemnation of the Russian aggression The differences between Europe and India over the Russian attack on Ukraine will not impact …

Fresh US sanctions hit Russian bank, oligarchs, crypto miner
2 years, 8 months ago

Fresh US sanctions hit Russian bank, oligarchs, crypto miner

Al Jazeera  

The United States has imposed several rounds of sanctions on Moscow since its February 24 invasion of Ukraine. The United States on Wednesday imposed sanctions on dozens of people and entities, including a Russian commercial bank and a virtual currency mining company, hoping to target Moscow’s evasion of existing sanctions over Russia’s invasion of Ukraine. The US Department of the …

Is India’s position on Russia affecting its relationship with the U.S.?
2 years, 9 months ago

Is India’s position on Russia affecting its relationship with the U.S.?

The Hindu  

Last week, India’s strategic partner, the United States, warned of consequences for any country, including India, which conducts local currency transactions through Russia’s central bank or constructs a payment mechanism that subverts or circumvents the U.S.’s sanctions against Russia. India’s consistent neutral position on Russia’s invasion of Ukraine, informed by its choices, has antagonised many countries, including the U.S. Guests: …

US sanctions Putin's daughters and more Russian banks
2 years, 9 months ago

US sanctions Putin's daughters and more Russian banks

India Today  

The United States targeted Russian banks and elites with a new package of sanctions on Wednesday that includes banning any American from investing in Russia, after Washington and Kyiv accused Moscow of committing war crimes in Ukraine. The new sanctions will put full blocking sanctions in Russia's Sberbank, which holds one-third of Russia's total banking assets, and Alfabank, a senior …

U.S. announces more Russia sanctions
2 years, 9 months ago

U.S. announces more Russia sanctions

The Hindu  

Days after gruesome images of murdered civilians in the Bucha suburb of Kyiv surfaced, the White House announced that it would impose further sanctions on Russian entities and individuals, including a ban on American investments in Russia and sanctions on the families of Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov. The measures against Russia would include “full …

In the middle: On India’s role in Russia-Ukraine crisis
2 years, 9 months ago

In the middle: On India’s role in Russia-Ukraine crisis

The Hindu  

Forty days into the war in Ukraine, India’s role appears to be more relevant than other countries may have expected, evident from the stream of dignitaries from overseas over the past two weeks. Their messages were three-pronged: asking India to change its vote at the UN, where it has abstained from all resolutions critical of Russia’s invasion; to request that …

How rupee-ruble trade mechanism is shaping up
2 years, 9 months ago

How rupee-ruble trade mechanism is shaping up

Business Standard  

Earlier in March, Business Standard had reported that the government was looking at allowing India-Russia trade in local currencies. Last week, the Reserve Bank of India reportedly met with officials from three Russian financial institutions to discuss possible payment mechanisms that would enable trade between the two countries. The idea calls for deeper engagement by Russian banks that have a …

Russia-Ukraine war: Key things to know about the conflict
2 years, 9 months ago

Russia-Ukraine war: Key things to know about the conflict

Associated Press  

Ukrainian President Volodymyr Zelenskyy called on his people to keep up their resistance to Russia’s invading forces, saying “every minute determines our fate, our future, whether we will live.” During his nightly video address to his people, Zelenskyy said late Thursday that, “With every day of our defense, we are getting closer to the peace that we need so much. …

US to expand sanctions on Russia, accept 100K Ukraine refugees
2 years, 9 months ago

US to expand sanctions on Russia, accept 100K Ukraine refugees

India Today  

The United States will expand its sanctions on Russia in response to the invasion of Ukraine, targeting members of the country's parliament and the central bank's gold reserves, the White House announced Thursday. For full coverage on Russia-Ukraine war A US official, who requested anonymity to discuss internal deliberations, said Western nations are discussing the possibility of providing anti-ship weapons …

Ukraine invasion: Sanctions are not forever
2 years, 9 months ago

Ukraine invasion: Sanctions are not forever

New Indian Express  

A part of the sanctions concerns restrictions on banks. The Office of Foreign Asset Control list has stopped Russia’s central banks, the country’s finance ministry and the national wealth fund from accessing the dollar. Dollar became a “safe haven” because of its safety, liquidity and value. Jim O’Neill, formerly of Goldman Sachs, wonders “whether this episode set the stage for …

India's legitimate energy transactions should not be politicized: Sources on oil purchase from Russia
2 years, 9 months ago

India's legitimate energy transactions should not be politicized: Sources on oil purchase from Russia

India TV News  

Highlights India is planning to buy Russian oil at a discounted rate India is highly dependent on imports for meeting its energy requirements Jump in oil prices after the Ukraine conflict has now added to India's challenges India's legitimate energy transactions should not be politicized, said sources amid reports that New Delhi is planning to buy Russian oil at a …

Russia gives Sberbank licence to issue, exchange digital assets
2 years, 9 months ago

Russia gives Sberbank licence to issue, exchange digital assets

Al Jazeera  

The move may open new opportunity for the major lender to blunt the effect of Western sanctions. Russia’s central bank on Thursday said it had given major lender Sberbank a licence to issue and exchange digital financial assets, a move that may open new opportunities for the bank as it seeks to blunt the effect of Western sanctions. Blockchain platform …

Bank of England joins effort to safeguard Ukraine’s assets
2 years, 9 months ago

Bank of England joins effort to safeguard Ukraine’s assets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The conversation forms part of a broader effort by …

Sanctions send prices up, businesses down and loved ones out of reach for ordinary Russian people
2 years, 9 months ago

Sanctions send prices up, businesses down and loved ones out of reach for ordinary Russian people

India Today  

Western countries, led by the US, UK and European Union, have imposed a number of sanctions and financial penalties on Russia since it invaded Ukraine on February 24. FOLLOW LIVE UPDATES ON UKRAINE-RUSSIA WAR PRICES GO UP Since Russia invaded Ukraine, the Russian ruble has plummeted. As the sanctions kicked in, the Russian government started limiting how much people could …

Russia accuses West of seeking ‘artificial default’ over Ukraine
2 years, 9 months ago

Russia accuses West of seeking ‘artificial default’ over Ukraine

Al Jazeera  

Russia is ready to pay its debts ‘in roubles’ as a large part of its foreign currency reserves are frozen over Ukraine attack. Russia’s finance ministry has accused foreign countries of wanting to force Russia into an “artificial default” through unprecedented sanctions over its war in Ukraine and said it would meet its debt obligations. “The freezing of foreign currency …

Sanctions on Russia, what is the impact on India?
2 years, 9 months ago

Sanctions on Russia, what is the impact on India?

The Hindu  

As the West announces more sanctions and decouples from Russia, should India brace for impact? Since February 21, when Russian President Vladimir Putin announced the recognition of sovereignty of two Ukraine states and February 24, when he announced military operations on Ukraine, a number of countries have announced a massive list of sanctions against Russia, aimed at “isolating” the Russian …

Russia owes Western banks $120 billion. They won’t get it back
2 years, 10 months ago

Russia owes Western banks $120 billion. They won’t get it back

CNN  

London CNN Business — Goldman Sachs and JPMorgan Chase are the first major Western banks to get out of Russia following the invasion of Ukraine. Goldman Sachs said Thursday that it is “winding down its business in Russia in compliance with regulatory and licensing requirements.” JPMorgan Chase, America’s largest bank, followed within hours, saying it was “actively unwinding” its Russian …

Russia-Ukraine crisis | Caught in a conflict
2 years, 10 months ago

Russia-Ukraine crisis | Caught in a conflict

The Hindu  

This article forms a part of the View From India newsletter curated by The Hindu’s foreign affairs experts. On Thursday, India, once again, abstained as the United Nations General Assembly voted 141-5 to condemn Russia’s invasion of Ukraine, calling on Moscow to unconditionally withdraw its troops. Neighbourhood Watch China’s Foreign Minister Wang Yi on Monday accused the United States of …

Ukraine crisis will have consequences for whole world, including for India-Russia ties: Envoy Denis Alipov
2 years, 10 months ago

Ukraine crisis will have consequences for whole world, including for India-Russia ties: Envoy Denis Alipov

India TV News  

Highlights Current crisis in Ukraine will have consequences for whole world: Denis Alipov India can take advantage of situation to bolster economic ties with Russia, Alipov added Russian envoy said current situation has presented window of opportunity for Indian businesses Russia-Ukraine war : The current crisis in Ukraine will have consequences for the whole world, including for Russia-India relations, and …

How Russia’s invasion of Ukraine changed the global economy in a week
2 years, 10 months ago

How Russia’s invasion of Ukraine changed the global economy in a week

CNN  

London CNN Business — A week of war in Ukraine has rocked the global economy, as quick-fire Western sanctions isolated Russia, collapsed its currency and financial assets and sent energy and food prices soaring. Now, a barrage of sanctions have made Russia’s biggest banks radioactive, traders are shunning barrels of Urals crude oil, and Western companies are fleeing the country …

EU cuts Russian banks from SWIFT, bans RT, Sputnik
2 years, 10 months ago

EU cuts Russian banks from SWIFT, bans RT, Sputnik

The Hindu  

The European Union on Wednesday cut seven Russian banks from the SWIFT payment system and banned Kremlin-controlled media outlets RT and Sputnik from broadcasting into the bloc. "At the speed of light, the European Union has adopted three waves of heavy sanctions against Russia's financial system, its high-tech industries and its corrupt elite," European Commission chief Ursula von der Leyen …

Ukraine crisis: Humanitarian corridors in the works, Russia tells India
2 years, 10 months ago

Ukraine crisis: Humanitarian corridors in the works, Russia tells India

Hindustan Times  

Russia is putting in place “humanitarian corridors” for safe evacuation of Indians stranded in conflict zones in eastern Ukraine and will conduct an investigation into the death of an Indian student in Kharkiv, Russian ambassador-designate Denis Alipov said on Wednesday. Offering his “deepest condolences” at the death of Gyandagoudar and conveying his sympathy to the student’s family and the Indian …

Sanctions sink Russia's rouble and could leave its economy in rubble and Vladimir Putin out of a job
2 years, 10 months ago

Sanctions sink Russia's rouble and could leave its economy in rubble and Vladimir Putin out of a job

ABC  

The war in Ukraine suddenly has shifted from the battleground to the boardroom, the bourse and banks as Russian consumers prepare to enter their very own world of pain. As the death toll mounts and the military onslaught continues with renewed vigour, Russia's central bank on Monday night was forced to hike interest rates from an already punishing 9.5 per …

Russia-Ukraine Crisis: UK imposes more banking sanctions on Moscow
2 years, 10 months ago

Russia-Ukraine Crisis: UK imposes more banking sanctions on Moscow

Firstpost  

Under the plans, British people and businesses will be banned from making transactions with the Russian central bank, its finance ministry and its wealth fund London: The UK’s Chancellor of the Exchequer, Rishi Sunak, alongside the Bank of England on Monday announced the UK government’s plans to impose further economic sanctions in response to the invasion of Ukraine by Russia …

Russia-Ukraine: US, UK, EU, Canada sanction Russia’s central bank
2 years, 10 months ago

Russia-Ukraine: US, UK, EU, Canada sanction Russia’s central bank

Al Jazeera  

Measures aim to ‘disrupt Russia’s attempts to prop up its rapidly depreciating currency’, US Treasury says. “The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Secretary of the Treasury Janet Yellen said …

Column: How Western sanctions may demolish Putin’s ‘Fortress Russia’
2 years, 10 months ago

Column: How Western sanctions may demolish Putin’s ‘Fortress Russia’

LA Times  

For years, Vladimir Putin worked assiduously to strengthen what was known as “Fortress Russia,” reducing its government debt and building up its reserves of gold and foreign currency as a bulwark against political and economic challenges. — Robert Person, U.S. Military Academy Russia holds roughly an additional $132 billion in gold domestically, but monetizing that hoard will be extremely difficult …

West unleashes SWIFT bans, more crushing penalties on Russia
2 years, 10 months ago

West unleashes SWIFT bans, more crushing penalties on Russia

Associated Press  

WASHINGTON — The United States and European nations agreed Saturday to impose the most potentially crippling financial penalties yet on Russia over its unrelenting invasion of Ukraine, going after the central bank reserves that underpin the Russian economy and severing some Russian banks from a vital global financial network. The U.S. and European allies announced the moves in a joint …

Russia-Ukraine conflict: What is SWIFT and how cutting off Russian banks could affect Moscow
2 years, 10 months ago

Russia-Ukraine conflict: What is SWIFT and how cutting off Russian banks could affect Moscow

Firstpost  

SWIFT is a secure messaging system that facilitates rapid cross-border payments and is the principal mechanism for financing international trade The United States and European nations on Saturday agreed to block select Russian banks from SWIFT, the global financial messaging system, in response to Moscow’s continued military assault against Ukraine. In a joint statement with leaders of the European Commission, …

EXPLAINER: A look at West’s toughest sanctions yet on Russia
2 years, 10 months ago

EXPLAINER: A look at West’s toughest sanctions yet on Russia

Associated Press  

WASHINGTON — The United States joined European allies Saturday in dramatically escalating financial penalties against Russia over its invasion of Ukraine, after the West’s initial rounds of sanctions failed to deter Russian President Vladimir Putin in his military offensive. Two of the key new measures target the heart of Russia’s financial system, its Central Bank, and cut an unspecified number …

Sanctions spark Russia bank run fears as country braces for ‘free fall’ in rouble
2 years, 10 months ago

Sanctions spark Russia bank run fears as country braces for ‘free fall’ in rouble

The Telegraph  

The Kremlin is scrambling to stave off a run on Russian banks after Western nations announced a barrage of punishing sanctions. According to Reuters, central bank documents showed that it had ordered market players to reject foreign clients' bids to sell Russian securities from early Monday morning. The step came after the central bank on Sunday said it would provide …

Russia-Ukraine war: US, EU, UK to sanction Russian central bank, block SWIFT
2 years, 10 months ago

Russia-Ukraine war: US, EU, UK to sanction Russian central bank, block SWIFT

India TV News  

Highlights The measures were announced jointly on Saturday as part of a new round of financial sanctions The central bank restrictions target the more than USD 600 billion in reserves Restrictions were meant to limit Russia's ability to support ruble amid tightening Western sanctions The United States, European Union and the United Kingdom agreed to put in place crippling sanctions …

U.S. And Allies Begin Cutting Russia Out Of International Financial System SWIFT
2 years, 10 months ago

U.S. And Allies Begin Cutting Russia Out Of International Financial System SWIFT

Huff Post  

The United States and key allies will cut Russian banks out of the global financial messaging system SWIFT and begin to target Russia’s central bank, according to a White House statement on Saturday. The statement said the U.S., top European economies, Britain, and Canada would disconnect selected Russian banks from SWIFT, which will severely hurt their ability to operate internationally, …

Russia-Ukraine War: What is SWIFT and will Russia be banned from this system
2 years, 10 months ago

Russia-Ukraine War: What is SWIFT and will Russia be banned from this system

India TV News  

Highlights SWIFT payment network is a dominant system for global financial transactions West, Europe now considering banning Russia from SWIFT However, banning Russia from SWIFT will have impact on other nations as well Already facing several sanctions for launching a war against Ukraine, Russia may also be kicked out of the SWIFT payment network, the dominant system for global financial …

U.S. and European allies bar Russian banks from crucial SWIFT banking network
2 years, 10 months ago

U.S. and European allies bar Russian banks from crucial SWIFT banking network

LA Times  

German Chancellor Olaf Scholz waits in Berlin for the arrival of Polish Prime Minister Mateusz Morawiecki and Lithuanian President Gitanas Nauseda for talks about the Russian invasion of Ukraine. The U.S. and its European allies agreed Saturday to bar some Russian banks from the SWIFT international network and to sanction the country’s central bank, ratcheting up the West’s response to …

India explores setting up rupee trade accounts with Russia to soften sanctions blow - sources
2 years, 10 months ago

India explores setting up rupee trade accounts with Russia to soften sanctions blow - sources

The Hindu  

India is exploring ways to set up a rupee payment mechanism for trade with Russia to soften the blow on New Delhi of Western sanctions imposed on Russia after its invasion of Ukraine, government and banking sources said. Indian officials are concerned that vital supplies of fertilizer from Russia could be disrupted as sanctions intensify, threatening India's vast farm sector. …

February 25, 2022 Russia-Ukraine news
2 years, 10 months ago

February 25, 2022 Russia-Ukraine news

CNN  

European Union leaders have been considering what some are calling the “nuclear option” of removing Russia from SWIFT, a high security network that connect thousands of financial institutions around the world, following the invasion of Ukraine. US President Joe Biden said Thursday that removing Russia from SWIFT is not the direction the rest of Europe wants to go in at …

The U.S. sanctions Russian President Vladimir Putin
2 years, 10 months ago

The U.S. sanctions Russian President Vladimir Putin

NPR  

The U.S. sanctions Russian President Vladimir Putin Enlarge this image toggle caption Alexei Nikolsky/AP Alexei Nikolsky/AP The United States has sanctioned Russian President Vladimir Putin and Foreign Minister Sergey Lavrov for Russia's invasion of Ukraine. Also Friday the Biden administration requested, according to congressional and administration sources, $6.4 billion in funding to address the invasion of Ukraine, though sources caution …

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