Washington and its allies are aiming to ban the insurance of Russian crude shipments, President Biden says US President Joe Biden said on Thursday at the NATO summit in Madrid that the West will apply an embargo on insuring ships transporting Russian oil to further pressure Moscow.
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Major Western economies should expect a significant growth slowdown, according to investment firm PIMCO The US will “more likely than not” fall into recession within the next 12 months, Reuters reported on Thursday, citing Andrew Balls, CIO of US-based investment management firm PIMCO.
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