UK petrol hits record high during Russian-Ukrainian war
The London Stock Exchange said it suspended trading in 28 Russia-linked companies, including gas giant Gazprom and the country’s second-largest lender, Sberbank.
The LSE halted trading in the shares with immediate effect on Thursday morning after prices fell following sanctions imposed in response to Russia’s invasion of Ukraine.
Meanwhile, UK petrol prices hit a new high of 151.67p per liter amid Vladimir Putin’s war with Ukraine.
As the conflict entered its second week, the price of oil soared and Brent crude – the benchmark – had been trading near $115 a barrel a barrel earlier on Thursday – the highest level in decades. years.
This in turn affects the cost of petrol in the UK, which hit new highs on Wednesday.
Meanwhile, the UK is set to spend £6.3million a day on Russian gas imports, potentially helping to fund the war in Ukraine, according to a new analysis.
About 4% of UK gas demand is met by Russian imports. At current high prices, that equates to £2.3 billion a year, the Energy and Climate Intelligence Unit has calculated.
The NHS must stop using energy supplied by the Russian company Gazprom
Health Secretary Sajid Javid has said the NHS must stop using power supplied by Russia’s Gazprom.
A senior government official told PA News that Mr Javid was in talks with NHS England over terminating the contracts, which Politico said were worth £16million in 2021.
Matt MatherMarch 3, 2022 1:35 p.m.
US markets stagnate at open
U.S. markets were essentially flat pre-market, while oil prices continued to climb as Russian forces bombarded Ukraine’s second-largest city and besieged two ports.
The economic fallout from the Russian invasion has spread, with Fitch Ratings and Moody’s Ratings reducing Russia’s credit rating.
They said the invasion and Western sanctions had hurt Moscow’s ability to repay its debts and increased risks to the economy and stability.
On Wall Street, futures on the S&P 500 and the Dow Jones Industrial Average swung between slight gains and losses hours before the market opened in New York.
Matt MatherMarch 3, 2022 1:05 p.m.
ICYMI: What will Russia’s economic isolation from the West actually mean?
There will be a difficult adjustment in the coming months, but the world can do without Russia, writes Hamish McRae.
Read his full article here:
Matt MatherMarch 3, 2022 12:45 p.m.
Full report: London Stock Exchange suspends listing of 28 Russian companies
The London Stock Exchange said it suspended trading in 28 Russia-linked companies, including gas giant Gazprom and the country’s second-largest lender, Sberbank.
The LSE halted trading in the shares with immediate effect on Thursday morning after prices fell following sanctions imposed in response to Russia’s invasion of Ukraine.
Our sales correspondent Ben Chapman to the story:
Matt MatherMarch 3, 2022 12:20 p.m.
Volkswagen stops car production in Russia
German automaker Volkswagen said it was halting vehicle production in Russia until further notice due to Russia’s attack on Ukraine.
VW Group said in a brief statement on Twitter on Thursday that “vehicle exports to Russia will also be stopped with immediate effect.”
The company said it takes its “responsibility to the affected employees in Russia” very seriously and that all those affected will receive short-time working benefits, paid for by Volkswagen.
Matt MatherMarch 3, 2022 12:00
The ruble falls another 15% against the dollar
In the currency markets, the Russian ruble has lost another 15% against the US dollar and is worth less than 1 cent.
It has plunged since Western governments imposed sanctions that cut off much of Russia’s access to the global financial system.
In Asian trading, the Nikkei 225 in Tokyo rose 0.7% to 26,577.27 and the Hang Seng in Hong Kong gained 0.6% to 22,467.34.
The Shanghai Composite Index fell less than 0.1% to 3,481.11.
Seoul’s Kospi gained 1.6% to 2,747.08 and Sydney’s S&P-ASX 200 rose 0.5% to 7,151.40. The Indian Sensex fell 0.3% to 55,311.33.
New Zealand and Southeast Asian markets also grew.
Matt MatherMarch 3, 2022 11:50 am
ICYMI: UK firms and fund managers scramble to sever ties with Kremlin-linked Russian companies
Western firms and fund managers rushed on Tuesday to sever ties with Kremlin-linked firms amid growing fears of reputational damage as Vladimir Putin escalated Russia’s brutal assault on Ukraine .
Fund managers in charge of trillions of pounds in savings, said The Independent that they had sold their investments in Russia or were revising their policies towards the country.
Our sales correspondent Ben Chapman reports:
Matt MatherMarch 3, 2022 11:30 am
The iPhone is muted in Russia, where Apple had to take sides
The tech giant suspended sales of its product, citing the Russian invasion of…
More about this article: Read More
Source: www.independent.co.uk
This notice was published: 2022-03-03 13:23:58
