US, Japan agree to cooperate on economic fallout of Ukraine war
2 years, 5 months ago

US, Japan agree to cooperate on economic fallout of Ukraine war

Al Jazeera  

The top economic officials of the United States and Japan have pledged to work together to tackle rising food and energy prices while reiterating their condemnation of Russia’s war in Ukraine. US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki on Tuesday said the war had increased exchange rate volatility, posing risks to economic and financial stability. The two leaders jointly condemned Russia’s “unprovoked, unjustifiable, and illegal war against Ukraine” and said they would work together to support Kyiv in overcoming its economic challenges. “We welcome G7 efforts to continue exploring ways to curb rising energy prices, including the feasibility of price caps where appropriate, while considering mitigation mechanisms to ensure that most vulnerable and impacted countries maintain access to energy markets,” the two leaders said in the statement.

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History of this topic

Biden talks with Zelensky, announces new military aid for Kyiv
4 months ago

Biden talks with Zelensky, announces new military aid for Kyiv

The Hindu  

U.S. President Joe Biden spoke with his Ukrainian counterpart Volodymyr Zelensky on Friday and announced a new round of military aid for Kyiv, the White House said. “I am proud we will announce a new package of military aid for Ukraine today,” Mr. Biden said in a statement, without specifying the dollar value of the assistance. The sanctions target nearly …

Japan pledges $4.5B more in aid for Ukraine, including $1B in humanitarian funds
1 year ago

Japan pledges $4.5B more in aid for Ukraine, including $1B in humanitarian funds

Associated Press  

TOKYO — Japan’s Prime Minister Fumio Kishida pledged $4.5 billion to Ukraine, including $1 billion in humanitarian aid to help support the war-torn country’s recovery effort in an online summit of leading industrial nations. “This is significant support for the recovery of Ukraine and our economy, said Japan stands firmly with Ukraine and our people,” Ukrainian President Volodymyr Zelenskyy said …

Japan foreign minister and business leaders meet Ukrainian leader and vow support for reconstruction
1 year, 3 months ago

Japan foreign minister and business leaders meet Ukrainian leader and vow support for reconstruction

Associated Press  

TOKYO — Japanese Foreign Minister Yoshimasa Hayashi met with Ukrainian President Volodymyr Zelenskyy on Saturday during his visit in Kyiv, promising Tokyo’s backing and agreeing to start negotiations on security cooperation between the two countries. Hayashi told Zelenskyy that Japan was ready to start negotiations on security cooperation based on an agreement between the Group of Seven and Ukraine made …

Russian Economy in Good Shape Despite Sanctions, Says US Treasury Secy Yellen
1 year, 10 months ago

Russian Economy in Good Shape Despite Sanctions, Says US Treasury Secy Yellen

News 18  

US treasury secretary Janet Yellen on Thursday said the US wants to see more effective and tougher sanctions on Russia during a meeting of G20 finance ministers and central bank governors under India’s presidency in Bengaluru. “While by some measures the Russian economy has held up better than might initially have been expected, Russia’s now running a significant budget deficit.,” …

Putin's war a strategic failure for Kremlin, says U.S. Treasury Secretary Janet Yellen
1 year, 10 months ago

Putin's war a strategic failure for Kremlin, says U.S. Treasury Secretary Janet Yellen

The Hindu  

The U.S. Treasury Secretary Janet L. Yellen, on Thursday, said continued and robust support for Ukraine would be a major topic of discussion during her two-day visit to India. “I’m looking forward to a productive set of meetings in Bengaluru over the next couple of days,’‘ the Treasury Secretary said. $10 billion additional aid In the coming months, the U.S. …

G7 meeting today: Finance chiefs to discuss sanctions against Russia
1 year, 10 months ago

G7 meeting today: Finance chiefs to discuss sanctions against Russia

Live Mint  

On February 23, the Group of Seven financial chiefs will gather to discuss sanctions against Russia that will put pressure on it to cease the war in Ukraine. Since Russian forces destroyed large portions of the country's industrial base, grain exports and essential infrastructure a year into the war, Ukraine is under intense pressure to acquire funds. "Support for Ukraine …

Japan to chair G7 talks on pressuring Russia over Ukraine
1 year, 10 months ago

Japan to chair G7 talks on pressuring Russia over Ukraine

Al Jazeera  

Financial leaders of the G7 will meet on Thursday to discuss measures aimed at pressuring Moscow to end war. Financial leaders of the G7 will meet on Thursday to discuss measures to pressure Russia to end the Ukraine war, Japan’s Finance Minister Shunichi Suzuki has said. “We will continue to closely coordinate with G7 and the international community to enhance …

Japan to give Ukraine $5.5B, host online G-7 plus Zelenskyy
1 year, 10 months ago

Japan to give Ukraine $5.5B, host online G-7 plus Zelenskyy

Associated Press  

TOKYO — Japan’s Prime Minister Fumio Kishida on Monday announced a new $5.5 billion financial aid for Ukraine and will mark the first anniversary of the war by hosting an online Group of Seven summit with Ukrainian President Volodymyr Zelenskyy. Kishida, speaking at a global forum in Tokyo organized by a Japanese think tank, said Ukraine still suffers under the …

Fighting between Russian and Ukrainian forces running at a 'reduced tempo', US intelligence chief says
2 years ago

Fighting between Russian and Ukrainian forces running at a 'reduced tempo', US intelligence chief says

ABC  

The head of US intelligence says the fighting in Russia's war in Ukraine is running at a "reduced tempo", and the prospects for Ukrainian forces may be brighter in the coming months. Key points: US intelligence head Avril Haines said the Russian President's advisers could be shielding him from bad news A surveys conducted in Russia showed most respondents backed …

US intel chief thinking ‘optimistically’ for Ukraine forces
2 years ago

US intel chief thinking ‘optimistically’ for Ukraine forces

Associated Press  

KYIV, Ukraine — The head of U.S. intelligence says fighting in Russia’s war in Ukraine is running at a “reduced tempo” and suggests Ukrainian forces could have brighter prospects in coming months. Avril Haines alluded to past allegations by some that Russian President Vladimir Putin’s advisers could be shielding him from bad news — for Russia — about war developments, …

Russia’s war at 6 months: A global economy in growing danger
2 years, 4 months ago

Russia’s war at 6 months: A global economy in growing danger

Associated Press  

MECKENHEIM, Germany — Martin Kopf needs natural gas to run his family’s company, Zinkpower GmbH, which rustproofs steel components in western Germany. Russia’s war led the International Monetary Fund last month to downgrade its outlook for the global economy for the fourth time in under a year. “The world may soon be teetering on the edge of a global recession, …

Russia’s war to keep hitting EU economy, push up inflation
2 years, 5 months ago

Russia’s war to keep hitting EU economy, push up inflation

Associated Press  

BRUSSELS — Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. “Russia’s war against Ukraine continues to cast a long shadow over Europe and our economy,” EU Vice President Valdis Dombrovskis said. Further reductions in gas supply …

US, Japan vow joint efforts on Ukraine, trade, food crisis
2 years, 5 months ago

US, Japan vow joint efforts on Ukraine, trade, food crisis

Associated Press  

TOKYO — U.S. Treasury Secretary Janet Yellen and Japan’s finance minister agreed Tuesday to cooperate in dealing with challenges from the war in Ukraine and promoting free trade, sustainable energy and food security. Suzuki welcomed Yellen, saying: “At this time, when the international community faces so many challenges, it is more important than ever for the U.S. and Japan to …

G-7 leaders united behind Ukraine, aim at Kremlin oil money
2 years, 5 months ago

G-7 leaders united behind Ukraine, aim at Kremlin oil money

Associated Press  

ELMAU, Germany — Leaders of the world’s biggest developed economies said Tuesday they would explore far-reaching steps to cap Russia’s income from oil sales that are financing its invasion of Ukraine and struck a united stance to support Kyiv for “as long as it takes” as the war grinds on. The G-7 leaders — representing the U.S., Germany, France, Italy, …

Implored by Zelensky, Biden and G-7 allies will increase Ukraine defense aid, economic support
2 years, 5 months ago

Implored by Zelensky, Biden and G-7 allies will increase Ukraine defense aid, economic support

LA Times  

President Biden and other G-7 leaders listen to a video address from President Volodymyr Zelensky on Monday during their working session at Castle Elmau in Kruen, Germany. Zelensky, speaking to leaders of the G-7 a day after Russian missiles struck civilian targets in Ukraine’s capital of Kyiv, told Biden and the other leaders gathered here in the Bavarian Alps that …

Effects of Russia-Ukraine conflict on Asian Economies
2 years, 7 months ago

Effects of Russia-Ukraine conflict on Asian Economies

Hindustan Times  

The ongoing Russia-Ukraine conflict has a great potential to hamper the post-Covid economic recovery of the Asian/Southeast Asia region. When it comes to the Southeast Asian region, particularly the Association of South East Asian Nations nations, they do not have direct economic links with Russia, however, there has been a surge in commodity prices, especially oil, which has become fairly …

G7 countries to provide $19.8bn in economic aid to Ukraine
2 years, 7 months ago

G7 countries to provide $19.8bn in economic aid to Ukraine

Al Jazeera  

Russia’s invasion of Ukraine touched on almost every topic of meetings this week. “We agreed that Ukraine’s financial situation must have no influence on Ukraine’s ability to defend itself successfully,” he said at a press conference to mark the end of the G7 finance ministers’ meeting. US treasury secretary Janet Yellen and other leaders spoke this week about the need …

Japan PM Kishida pledges further cooperation with EU on Russia
2 years, 7 months ago

Japan PM Kishida pledges further cooperation with EU on Russia

Al Jazeera  

Tokyo earlier this week announced it would phase out imports of Russian oil. Japan and the European Union will ramp up cooperation in punishing Russia over its war in Ukraine, Prime Minister Fumio Kishida said on Thursday. In a joint news conference held in Tokyo, European Commission President Ursula von der Leyen, European Council President Charles Michel and Kishida said …

Russia-Ukraine war: G7 leaders pledge to further isolate Moscow
2 years, 7 months ago

Russia-Ukraine war: G7 leaders pledge to further isolate Moscow

Al Jazeera  

The latest show of support for Ukraine comes as Russia prepares to celebrate the defeat of Nazi Germany during World War II. After a virtual meeting with Ukrainian President Volodymyr Zelenskyy on Sunday, the leaders also pledged to “elevate” a campaign against Russian elites who support President Vladimir Putin. In a statement, the G7 – which unites the world’s seven …

US treasury secretary says Biden wants Russia out of G20
2 years, 8 months ago

US treasury secretary says Biden wants Russia out of G20

Al Jazeera  

Janet Yellen said Russian atrocities are an affront to global order that will have widespread economic repercussions. US Treasury Secretary Janet Yellen has warned that Russia’s aggression in Eastern Europe will have “enormous economic repercussions in Ukraine and beyond,” and that President Joe Biden wants Russia expelled from the Group of 20 major economies forum. “President Biden’s made it clear, …

Janet Yellen warns of ‘enormous’ economic repercussions from war in Ukraine
2 years, 8 months ago

Janet Yellen warns of ‘enormous’ economic repercussions from war in Ukraine

CNN  

New York CNN Business — US Treasury Secretary Janet Yellen warned Wednesday about the economic shock waves set off by the war in Ukraine, including disruptions to the global flow of food and energy. “Russia’s actions represent an unacceptable affront to the rules-based, global order, and will have enormous economic repercussions in Ukraine and beyond,” Yellen said during her testimony …

Japan to invest $42 billion in India over five years
2 years, 9 months ago

Japan to invest $42 billion in India over five years

The Hindu  

India and Japan set an investment target of “five trillion yen” in the next five years, the leaders announced after a meeting in New Delhi for the 14th annual summit, where several agreements were signed. PM Modi said as the global post–covid recovery process falters and “geopolitical developments” present new challenges, it was necessary to deepen the India–Japan partnership, which …

Stocks week ahead: War in Ukraine has sparked a scramble for dollars
2 years, 9 months ago

Stocks week ahead: War in Ukraine has sparked a scramble for dollars

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. What’s happening: The dollar rose to its highest level since spring 2020 last week as fears grew about how Russia’s war in Ukraine would ricochet through the global economy and financial markets. Watch this space: There’s been some chatter about whether Russia’s war in Ukraine could …

Russia-Ukraine War: Europe’s Costly Energy Transition Has Accelerated the Great Power Contest
2 years, 9 months ago

Russia-Ukraine War: Europe’s Costly Energy Transition Has Accelerated the Great Power Contest

News 18  

The interplay between great power competition and the green energy transition has in large part brought forth the spectre of inflation. Energy price inflation soared, damaging industrial competitiveness, reducing consumers’ disposable income, pressuring central banks and threatening Europe’s economic recovery. Great Power Competition and Energy Wars Europe’s increased dependency on gas has played a role in Russia’s geopolitical calculus. Such …

Oil has wildest week on record as Ukraine crisis roils markets
2 years, 9 months ago

Oil has wildest week on record as Ukraine crisis roils markets

Al Jazeera  

Oil resumed climbing at the end of a week where prices have swung within a $20 range since Russia’s invasion of Ukraine roiled global markets and fueled fears of a supply crunch. “There has been nothing to take the edge out of this market and we’ve had single direction volatility, meaning prices higher,” said Rob Haworth, senior investment strategist at …

How The War In Ukraine Could Hurt The U.S. Economy
2 years, 9 months ago

How The War In Ukraine Could Hurt The U.S. Economy

Huff Post  

LOADING ERROR LOADING WASHINGTON ― Russia’s war on Ukraine could spike gasoline prices in the U.S., increasing overall inflation as well as the odds of a layoff-inducing slowdown. “Landing the economic plane on the tarmac was already going to be difficult for the Fed because of the pandemic and high inflation, but Russia’s invasion makes it more likely the economic …

Ukraine-Russia crisis: Asian economies brace for inflation hit
2 years, 10 months ago

Ukraine-Russia crisis: Asian economies brace for inflation hit

Al Jazeera  

Conflict in Ukraine and sanctions against Russia are expected to drive energy prices higher across Asia. War in Ukraine and sanctions against Russia, the world’s second-largest natural gas exporter and third-largest producer of petroleum, are expected to drive energy prices in Asia even higher. But consumers who will face higher prices are very important in what is a very domestic …

Oil prices surge past $100 a barrel as Putin declares war on Ukraine
2 years, 10 months ago

Oil prices surge past $100 a barrel as Putin declares war on Ukraine

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. Read our privacy policy Oil prices have topped more …

Russia invades Ukraine: What’s next for energy oil prices?
2 years, 10 months ago

Russia invades Ukraine: What’s next for energy oil prices?

Al Jazeera  

Russia’s invasion of Ukraine spells higher prices at the pump for consumers worldwide. Oil prices surged past $100 a barrel for the first time since 2014 on Thursday after Russian President Vladimir Putin ordered a full-scale military assault on Ukraine, prompting widespread international condemnation. “The next day will be quite critical – will definitely see prices exceeding 100/bps in the …

A long war between Russia and Ukraine could make prices surge and stocks tumble
2 years, 10 months ago

A long war between Russia and Ukraine could make prices surge and stocks tumble

CNN  

New York CNN Business — If Russia invades Ukraine, global stock markets could be in for a rough ride — much worse than most other geopolitical events of the past several decades. “The conflict between Russia and Ukraine is likely to push crude oil prices above $100 a barrel sooner than earlier projected,” said Naeem Aslam, chief market analyst with …

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