International sanctions

Orban on the Sanctions against Russia: "The EU did Not Shoot itself in the Foot, but in its Lungs"

Hungarian Prime Minister Viktor Orban commented on the national radio station Kossuth Rádió on Friday about the current situation and the consequences of Western sanctions against Moscow, saying that his previous assumptions about their effect have now been confirmed, as the sanctions policy has not lived up to the European Union's initial hopes.

Business Insider: World Markets are expecting an Insanely Difficult Summer

World markets are expecting an "insanely difficult" summer due to the partial embargo of the European Union on Russian oil, Business Insider reports, citing analyst Victor Chatenay.

According to him, the only hope for lower resource prices will be "insanely" high interest rates on loans.

Russia braces for economic upheaval as sanctions start to bite

At his garage in the south of Moscow, 35-year-old mechanic Ivan is starting to worry.    

With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.    

But Ivan sees storm clouds on the horizon.