Congress votes to suspend Russia trade status, enact oil ban
The White House said sanctions the U.S. and more than 30 other nations have already enacted have stung the Russian economy.
The White House said sanctions the U.S. and more than 30 other nations have already enacted have stung the Russian economy.
Reports of civilians being tortured and killed in Ukraine, with streets on the outskirts of Kyiv being strewn with corpses, had some lawmakers this week questioning why the Senate had not yet taken action on the bill.
Indiana’s state government is selling off nearly $150 million of Russian-related investments as the governor said he’s looking at ways the state could help Ukrainian refugees fleeing from the Russian invasion of their country.
Clean energy leaders said the investigation—which could result in retroactive tariffs of up to 240%—would severely hinder the U.S. solar industry, leading to thousands of layoffs and imperiling up to 80% of planned solar projects in the United States.
Brazil-based Solinftec has had operations in West Lafayette since 2019. The company is now working to launch a robot that would continuously roam agricultural fields and collect information farmers can use to improve their operations.
In return, the British agreed to lift retaliatory tariffs on U.S. exports, including whiskey.
Companies have had to figure out ways to support their Ukraine-based workers while also keeping business moving in a time of huge disruption.
Indianapolis Airport Authority officials are looking to 2023 and 2024, with a focus on renewing the nonstop flight to Paris and possibly other international destinations.
The trip also will include a humanitarian component tied to Russia’s invasion of Ukraine.
Cummins has operated in Russia for decades and has 700 employees in that country, but on Friday the company said it was halting all operations in Russia “indefinitely” because of Russia’s invasion of Ukraine.
Additionally, the pharmaceutical giant said in a statement that it had “suspended all investments, promotional activities, and new clinical trials in Russia.”
A further round of talks between Russian and Ukrainian officials on Monday will focus on discussing a potential ceasefire with an immediate withdrawal of troops and security guarantees, Ukraine negotiator Mykhailo Podolyak said.
Russia is not one of the United States’ top trading partners, but the goods and services exported by both countries are still substantial.
The global brands all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine.
The leaders of OPEC and its oil-producing allies plan to gradually increase oil production while Russia’s invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing.
Moscow’s war on Ukraine and the ferocious financial backlash it’s unleashed are not only inflicting an economic catastrophe on President Vladimir Putin’s Russia. The repercussions are also menacing the global economy.
All 31 member countries of the International Energy Agency have agreed to release oil from their strategic reserves—half of that from the United States—“to send a strong message to oil markets” that there will be “no shortfall in supplies.”
An amendment approved to Senate Bill 388, which deals with foreign gifts and ownership of agricultural land, would block Russian-controlled businesses from acquiring property in Indiana for one year.
In its annual report on Chinese compliance with WTO rules, the Office of the U.S. Trade Representative said Wednesday that China isn’t keeping the promises it made to open its markets to foreign competition.
The crossing normally carries 25% of all trade between the two countries, and the blockade on the Canadian side had disrupted business in both countries, with automakers forced to shut down several assembly plants.