Europe-Russia-Ukraine

 UK has introduced new sanctions against Russia in terms of exporting internal repression goods and technology, goods and technology relating to chemical and biological weapons, maritime goods and technology, additional oil refining goods and technology and, additional critical industry goods and technology. There is a prohibition introduced on the export to, or for use in Russia of jet fuel and fuel additives, a prohibition on export to, or for use in Russia of EU denominated currency. Importing revenue generating goods that originate in Russia is prohibited too. These further sanctions fall in as EU leaders prepare to grant Ukraine candidate status. Moldova was another country that was given the candidate status along with Ukraine. The Kremlin has warned that the already strained ties with Moscow can be worsened. 

The Russian rouble has further weakened against the dollar. The sanctions introduced and Russia's imports which were boosted by high commodity prices has made the rouble inflated. 

Germany, Europe's biggest buyer of the Russian gas has about 58% of its inventories full. Economy minister, Robert Habeck has warned about the seriousness of the situation. The country has a target of 90% to meet by November in a routine plan to prepare for winter. The Nord Stream 1 gas pipeline is operating at 40% of normal levels, this means less gas will be available for storage for Germany. The pipeline will be shut next month for maintenance hence, there will be a further drop in the storage and there are fears it may never return to full capacity. 

Nike, the American multinational corporation has walked out of the Russian market. It is making a full exit in the coming three months. It has started suspending operations as the pace of western companies leaving Russia has accelerated. It has confirmed that it will leave the country completely like McDonalds and Renault.