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KYIV/LVIV: The European Union was preparing sanctions on Russian oil sales over its invasion of Ukraine after a major shift on Monday by Germany, Russia's biggest energy customer, that could deprive Moscow of a large revenue stream within days.
NEW YORK: All three major U.S. stock indexes ended more than 1% lower on Wednesday as oil prices jumped and Western leaders began gathering in Brussels to plan more measures to pressure Russia to halt its conflict in Ukraine.
NEW YORK: Oil prices settled higher on Friday, but posted a second straight weekly loss, after a volatile trading week with no easy replacement for Russian barrels in a tight market.
Ukraine nuclear plant assault fuels fear of supply crunches
Fitch on Wednesday downgraded Russia's sovereign credit rating by six notches to "junk" status, saying Western sanctions over the invasion of Ukraine made it uncertain Russia could service its debt and would weaken its economy in "a huge shock" to its creditworthiness.
War shocks ripple across one of the busiest trade lanes
LONDON: World markets were set for another tumultuous week after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine and as fighting intensified for a fourth day.
NEW YORK: Oil prices slipped Friday after sharp rises early in the session on concern over potential global supply disruptions from sanctions on major crude exporter Russia.
WASHINGTON: President Joe Biden hit Russia with a wave of sanctions on Thursday after Moscow invaded Ukraine, measures that impede Russia's ability to do business in major currencies along with sanctions against banks and state-owned enterprises.