By Tyler Durden, Consumer goods companies are raising prices of ‘essential everyday’ items on Americans as inflation soars to multi-decade highs. The latest to do so is Colgate-Palmolive, an American multinational consumer products company, announced a new expensive line of toothpaste, according to Reuters. Last week, Colgate-Palmolive CEO Noel Wallace told an industry conference that its […]

By Tyler Durden, Another day, another flashing red headline that the White House is considering a ban on Russian oil imports – something it has repeatedly said earlier this week – although it has yet to make a decision: *WHITE HOUSE CONSIDERING BAN ON RUSSIAN OIL IMPORTS *WHITE HOUSE SPOKESPERSON SAID NO DECISION HAS BEEN […]

By Tyler Durden, One month after Turkey’s president Erdogan fired his statistics chief for reporting that inflation hit 36%, his current replacement must be dreading every incoming phone call after earlier today Turkey reported that annual inflation again soared more than expected, hitting a two-decade high of 54.4% in February, above the 52.5% consensus, fuelled by a […]

By Tyler Durden, As discussed yesterday in “Buyers Balk At Russian Oil Purchases Despite Record Discounts, Sanction Carve Outs” the bevy of Russian sanctions have had the unintended consequence of also freezing Russian oil exports – despite explicit carve outs in terms set by Western nations – as buyers balk and boycott Russian crude sales […]

By Tyler Durden, Submitted by Ronan Manly, BullionStar.com Triggered by the Russian invasion of Ukraine, a range of sanctions against Russia by a range of countries have been rolled out. Many of these sanctions focus on the financial and economic realm. Russian Commerical Banks – Personae Non Gratae Last week the UK Government announced two sets of sanctions, […]

By Tyler Durden, submitted by QTR’s Fringe Finance On my latest podcast, I had a chance to try and channel some intellectual horsepower in a fruitless attempt to keep up with Epsilon Theory’s Ben Hunt about a wide range of topics, not the least of which was Russia’s recent invasion of Ukraine. Ben shed a light on […]

By Tyler Durden, Following days of intense pressure from the U.K. government, UK energy giant BP Plc said it will exit its 19.75% stake in Russian oil company Rosneft, a dramatic reversal after Russia’s invasion of Ukraine as Western nations are trying to inflict as much economic pain as possible on Moscow. BP had held its stake […]

By Tyler Durden, Following a full-court press by western nations, the handful of European holdouts – those most reliant on Russian energy supplies and continued Russian capital flows, such as Germany, Hungary, Italy and Cyprus – who have been adverse to expelling Russia from the SWIFT electronic payment-messaging system, are one by one folding on […]

By Marlize van Romburgh, As Russia invaded neighboring Ukraine on Wednesday, it sent shockwaves around the world and threatened to undo decades of relative peace and stability in Europe. Ukraine’s fragile economy and small technology startup scene are also threatened by the turmoil. Ukraine’s startup industry is small, though a number of notable companies and […]

By Tyler Durden, Three buyers of Russian crude oil have been unable to open letters of credit from Western banks to cover their purchases, four Reuters trading sources said on Thursday following the Russian attack on Ukraine. As Julianne Geiger writes at OilPrice.com, banks are understandably hesitant to extend credit for purchases of Russian crude, given the current […]