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The US announced unprecedented sanctions on Russia’s energy industry on Friday in its latest effort to squeeze the revenue that the Kremlin needs to bankroll its war machine in Ukraine. The sweeping sanctions came one day after US President Joe Biden unveiled US$500 million in additional military support for Ukraine, including air defence missiles, air-to-ground […]
China has confirmed for the first time that President Xi Jinping has been communicating with US president-elect Donald Trump as the latter prepares to return to the White House. The news came a day after Trump told American conservative radio host Hugh Hewitt in an interview on Monday that he and Xi had already been […]
The US imposed fresh sanctions on Russia’s Gazprombank on Thursday, the Treasury Department said, wielding its most powerful sanctioning tool against the bank as US President Joe Biden steps up actions to punish Moscow for its invasion of Ukraine before leaving office in January. The move effectively kicks Gazprombank – one of Russia’s largest banks […]
Beijing should adjust its strategy in managing China’s US$3.3 trillion worth of foreign-exchange reserves, given the lingering threat of US financial sanctions, according to a prominent Chinese economist. The warning by Zhang Ming, deputy director of the Chinese Academy of Social Sciences’ Institute of Finance and Banking, is the latest high-profile call for diversification and […]