Mercedes pulls out of Russia permanently

Image Source: Babel Mercedes has become the most recent Western corporation to leave Russia in the wake of the February invasion of Ukraine. Early in March, the German company halted producing in and importing from the nation. However, it has now announced that it will leave the Russian market and sell stock in its subsidiaries […]

Nord Stream: Ukraine accuses Russia of pipeline attack

Image Source: Times of Israel In what it called a “terrorist attack,” Ukraine has accused Russia of causing leaks in two significant Nord Stream gas pipelines that transport gas to Europe. Mykhaylo Podolyak, a presidential adviser for Ukraine, called the destruction of Nord Stream 1 and 2 “an act of aggression” against the EU. He […]

Putin mocks West, says Russia is gaining from Ukraine conflict

Putin mocks West,

Russian President Vladimir Putin has dismissed Western protests of Russia’s actions in the Ukrainian crisis. And said, ‘We are gaining from this.’ He went on to say that the West is ‘still looking for allies to fight us…Europe doesn’t exist anymore. America is a thing of the past. We have pushed it away’. Meanwhile, Russian […]

Nord Stream 1: Russia shuts major gas pipeline to Europe

Image Source: Deccan Herald Russia has halted all gas shipments to Europe via a major pipeline, citing the necessity for repairs. Gazprom, Russia’s state-owned energy company, said the limits on the Nord Stream 1 pipeline would last three days. Russia has already decreased pipeline gas shipments dramatically. It denies using energy resources as a weapon […]

The UK imports no fuel from Russia for the first time

Image Source: Bloomberg For the first time in history, the UK imported no gasoline from Russia in June, according to official statistics. The Office for National Statistics (ONS) reported that June’s imports of commodities from Russia decreased to £33 million, the lowest level since records began in January 1997. Since Russia invaded Ukraine in February, […]

Gas prices soar as Russia cuts German Supply

Image Source: DW Due to Russia’s continued reduction of gas supply to Germany and other central European countries, gas prices have risen earlier this week’s warning to do so. Gasoline prices in Europe rose by almost 2% and are already close to the record high reached after Russia invaded Ukraine. Critics accuse the Russian government […]

H&M to sell off stock as it plans to leave Russia

Image Source: BBC H&M has announced that it is leaving Russia but will briefly reopen its stores in the country in order to liquidate its remaining inventory. The second-largest apparel retailer in the world claimed that the war in Ukraine made it “difficult” for it to continue operating in Russia. The decision was made after […]

Lego pulls operations from Russia permanently

Image Source: Bloomberg Lego, the largest toy company in the world has stopped all operations in Russia “indefinitely,” as a result of Russia’s invasion of Ukraine. Although the corporation did not provide a detailed explanation for the withdrawal, it did state that there had been “disruption” when it attempted to do its business. With the […]