50 m. ago Trump's turnaround on sanctions targets Russia's oil companies that fund the war in Ukraine

U.S. President Donald Trump has done a turnaround on sanctions against Russia, taking aim at Russia's two biggest oil companies and the billions of dollars they reap for Moscow's war against Ukraine

Events

66 m. ago Europe must go further and faster to break Russia’s war machine

Editorial: Donald Trump’s sanctions on Russian oil are a welcome shift from a changeable president – but Ukraine needs its European allies to do much more to hit Putin where it hurts

Events

98 m. ago Putin says he will never bow to US but concedes sanctions may cause ‘some losses’

China and India likely to scale back Russian oil imports as Trump tries to bring an end to war in UkraineVladimir Putin has said Russia will never bow to US pressure but conceded new sanctions could cause some economic pain, as China and India were reported to be scaling back Russian oil imports after Washington targeted Moscow’s two largest producers.The US on Wednesday imposed sanctions on Rosneft and Lukoil, as well as nearly three dozen of their subsidiaries, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The EU separately discussed a loan for Ukraine secured on frozen Russian assets and agreed to a phased ban on the import of Russian liquefied natural gas. Continue reading...

Politics

2 h. ago Pump prices could rise after US, EU hit Russian oil companies with new sanctions and oil spikes

Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine

Events

2 h. ago Putin responds to Trump's sanctions as 'pressure doesn't work on self

This is a breaking news story and is being constantly updated by our reporters as the breaking news story develops

Politics

2 h. ago Putin breaks silence over 'unfriendly act' in chilling warning to Trump

The Russian despot has said in a chilling statement this evening that 'dialogue is always better than war' after Donald Trump hit the country with new sanctions

Events

3 h. ago Germany races to secure US sanctions exemption for Rosneft refineries

Berlin says Washington should not target subsidiaries of Russian oil company located in Germany

Politics

5 h. ago Which countries buy Russian oil – and what impact will sanctions have?

The Trump administration imposed sanctions after plans to hold a second summit on ending the war in Ukraine were abandoned

Politics

5 h. ago New sanctions and weapons will not stop Russia. It’s time for Ukraine’s allies to change their flawed strategy | Christopher S Chivvis

A negotiated settlement would be unfair and frustrating. But after nearly four years of fighting, it may be the best optionOn Wednesday, President Trump imposed substantial new sanctions on Russia’s giant oil and gas companies, and lifted restrictions on the use of certain long-range missiles by Ukraine, which will now be able to strike more freely into Russia itself. These moves come on the heels of Trump’s conversations last week with Vladimir Putin and Volodymyr Zelenskyy, after which the US president expressed his frustration at both side’s intransigence. Trump had hoped to end this war long ago. Will this be enough?When Russia launched its full-scale invasion of Ukraine in February 2022, the US and its allies chose a strategy that aimed to use Washington’s awesome political, economic and military power to impose such high costs on Russia that the Kremlin would sue for peace on Ukraine’s terms. This “cost-imposition” strategy makes sense in theory. The problem is that, in practi...

Events

5 h. ago US sanctions on Russian oil giants ‘really important new step’ – Healey

The Defence Secretary was speaking alongside his German counterpart Boris Pistorius at RAF Lossiemouth in northern Scotland.

Politics

5 h. ago Donald Trump 'fully on warpath' with Putin after Russian military funds slashed

Vladimir Putin's allies have spoken out after Donald Trump's administration imposed sanctions on Russia's two largest oil producers that bankroll the country's military

Events

6 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

7 h. ago Which countries buy Russian oil and what is the financial hit from sanctions?

The Trump administration imposed sanctions after talks at ending the war on Ukraine stalled

Economics

7 h. ago Putin ally accuses Trump of an 'act of war' against Russia after US president imposed new oil sanctions

Medvedev said on Thursday it was now absolutely clear that the United States was Russia's adversary.

Politics

7 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

8 h. ago EU joins US in heaping more sanctions on Russia to push Putin into Ukraine peace talks

The European Union has imposed more economic sanctions on Russia, adding to measures by U.S. President Donald Trump against the Russian oil industry

Politics

8 h. ago Putin ally accuses Trump of an 'act of war' against Russia after US president imposed new oil sanctions 

Medvedev said on Thursday it was now absolutely clear that the United States was Russia's adversary.

Politics

8 h. ago Kremlin issues chilling WW3 threat as ranting Putin ally accuses Trump of an 'act of war' against Russia after US president imposed new sanctions

Medvedev said on Thursday it was now absolutely clear that the United States was Russia's adversary.

Politics

9 h. ago Will Trump’s new sanctions on Russian oil companies actually work to stop Putin?

The new sanctions were unveiled just a day after Trump said he would cancel a ‘wasted’ meeting with Putin in Budapest

Politics

9 h. ago Ukraine pounds Putin oil refinery with drones hours after Trump imposed sanctions on Moscow's oil giants

The strike set the massive Ryazan refinery ablaze overnight, sending flames above one of the country's largest industrial plants.

Politics