Brussels intends to reject a US tariff proposal and instead embargo oil imports from Russia, press reports claim Snubbing US Treasury Secretary Janet Yellen’s proposal to impose tariffs and thereby mitigate a global price spike, the European Union is preparing to embargo all imports of oil from Russia sometime next week, the New York Times…

Moscow’s Ministry of Finance says dollar payments on foreign bonds previously stuck by sanctions are progressing Russia has finally managed to make dollar payments on two foreign bonds after sanctions introduced on the country’s financial system over its offensive in Ukraine had been holding transactions up for weeks.

The Russian currency also strengthened its position against the dollar, climbing back to pre-conflict levels The Russian ruble rose to its strongest position since March 2020 against the European single currency, paring some gains after the Bank of Russia cut interest rates.