An unidentified missile struck a Bangladeshi vessel docked at the Ukrainian port of Olvia on the northern Black Sea, setting it a blaze and killing an engineer on board, the ship owner said. The vessel wasn’t carrying any cargo and had 29 crew on board.
Fitch lowered Russia to B from BBB and placed the rating on negative watch Wednesday, citing weakening external and public finances, slowing growth, elevated domestic and geopolitical risk and the potential for further sanctions. The trip will include stops in Belgium, where Blinken will participate in NATO and Group of Seven ministerial meetings, as well as Poland, Moldova, Latvia, Lithuania and Estonia. Poland is temporarily hosting the U.S. Embassy to Ukraine and has seen large inflows of refugees in recent days.
It wasn’t immediately clear what oil technology would be hit by the latest wave of export controls — including equipment to coax oil and gas out of wells or refine it into diesel and gasoline. The White House said the controls would target “oil refining, a key revenue source” that supports the Russian military, but also described “export controls on oil and gas extraction equipment.
The casualty numbers, a fraction of those posted by Ukraine’s Defense Ministry, were the first public accounting from Russia. Senator Ron Wyden, the chairman of the Senate Finance Committee that oversees trade bills, introduced draft legislation to revoke PNTR for Russia. If passed, the bill would allow the imposition of tariffs far above currently allowable levels. The U.S. has historically imported raw materials from Russia including iron, steel and minerals in addition to oil and gas.
The “KleptoCapture” task force will gather experts in sanctions and export control enforcement, anti-corruption, asset forfeiture, anti-money laundering, tax enforcement, national security investigations, and foreign evidence collection, DOJ said in a statement on Wednesday. The EU’s trade chief, Valdis Dombrovskis, told European lawmakers on Monday that there was “some work ongoing” to explore sanctions on Russia’s maritime sector, without giving any details as these measures are not part of his dossier.European natural gas prices eased after soaring as much as 60% and crude oil topped $110 a barrel amid concerns over Russian supply.
Russia more than doubled its interest rate and imposed capital controls in an effort to stabilize the financial system after the U.S. and its allies imposed harsh sanctions, including on the central bank itself.Russia paid a coupon due on ruble bonds on Wednesday, but it’s not clear how foreigners will be able to access the cash after the central bank banned transfers to foreign investors. That means investors are still trying to understand whether or not the bonds could be in default.
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