By Ron Bousso and Dmitry Zhdannikov LONDON (Reuters) – BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine. Rosneft accounts for around…
By Elizabeth Culliford NEW YORK/MOSCOW (Reuters) – As Russian missiles rained down on Ukrainian cities, another battle took place online and over the airwaves. Moscow ramped up efforts to control the narrative playing out in news media and on tech platforms, while big tech companies Facebook-owner Meta Platforms Inc and Alphabet Inc’s Google put restrictions…
(Reuters) – Energy major BP opened a new front in the West’s campaign to isolate Russia’s economy, with its decision to quit the oil-rich country the most aggressive move yet by a company in response to Moscow’s invasion of Ukraine. Western allies have ramped up efforts to punish Russia with new sanctions including shuttering their…
BERLIN (Reuters) – Intel has chosen the east German city of Magdeburg as the site for a new multibillion-euro European chip factory and will make the decision public on March 4, a person familiar with matter told Reuters. The company said in September it could invest as much as $95 billion in Europe over the…
LONDON (Reuters) – The euro opened sharply lower after the weekend as the escalation of Western sanctions on Russia threatened further turmoil on world markets on Monday. By 2055 GMT on Sunday, the single currency was down 1.2% at $1.11390. Aside from blacklisting Russian businesses, individuals and banks, Western powers’ moves to cut some Russian…
By Matt Scuffham, David Henry and Pete Schroeder NEW YORK/WASHINGTON (Reuters) – Senior management and compliance teams at major banks were working around the clock this weekend to understand the raft of new sanctions imposed on Russia and its banking system in the wake of the country’s invasion of Ukraine. Banks were scrambling to ensure…
WASHINGTON (Reuters) – UPS and FedEx have said they are halting delivery service to Russia and Ukraine because of the conflict. The companies said both inbound and outbound services were temporarily suspended to the two countries, in online statements seen on Sunday. (Reporting by Joel Schectman; Editing by Daniel Wallis)
PRAGUE (Reuters) – Russian bank Sberbank’s Czech unit will keep branches closed on Monday and card transactions and internet banking stopped, CTK news agency reported on Sunday, citing the bank as saying it saw an outflow of deposits in recent days. The bank said deposits were insured, according to CTK. The bank could not be…
OSLO (Reuters) -Norway’s $1.3 trillion sovereign wealth fund, the world’s largest, will divest its Russian assets following Russia’s invasion of Ukraine, the Norwegian prime minister said on Sunday. The fund’s Russian assets, consisting of shares in some 47 companies as well as government bonds, were worth 25 billion Norwegian crowns ($2.83 billion) at the end…
By David French and Megan Davies NEW YORK (Reuters) – Western sanctions on Moscow could throw the small but lucrative Russian investment banking business that several large U.S. banks have maintained into question, lawyers said, which could deal a hit to tens of millions of dollars in fees. Major U.S. banks, including JPMorgan Chase &…
