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☆ The rally in gold could be still in the early stages, according to the charts
▼ + stars: | 2024-04-04 | by ( David Keller | ) www.cnbc.com time to read: +4 min

Our review of the charts of precious metals tells us that the recent rally in gold prices could be just the early stages of a broad advance in the second quarter and beyond. Interestingly enough, gold stocks have actually been underperforming gold for most of the last 12 months. But over the last six weeks, gold miners have shown renewed strength, outperforming spot gold. This may be just the beginning of a "catch up" trade where gold miners close the performance gap with gold. Gold stocks have been lagging behind spot gold, but that trend of underperformance has begun to change in the last six weeks.

Persons: Alan Shaw, David Keller Organizations: Gold Miners, CMT Locations: retest

☆ MKS Pamp: Silver could reach record highs, as it's also an inflation hedge like gold
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMKS Pamp: Silver could reach record highs, as it's also an inflation hedge like goldNicky Shiels, head of metals strategy at MKS Pamp, discusses the outlook for gold, silver and other precious and industrial metal prices this year.

Persons: it's, Nicky Shiels Organizations: MKS

☆ Stunning images of ocean life in proposed deep-sea mining zone
▼ + stars: | 2024-04-02 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

Sometimes they have been seen/observed/known before, but not collected or formally described,” said Regen Drennan, a postdoctoral marine biologist at London’s Natural History Museum. If deep-sea mining follows the same trajectory as offshore oil production, more than one-third of these critical metals will come from deep-ocean mines by 2065, the federal agency estimated. However, several countries, including the United Kingdom and France, have expressed caution, supporting a moratorium or ban on deep-sea mining to safeguard marine ecosystems and conserve biodiversity. Along with the transparent unicumber, the creature is a type of sea pig within the scientific family called Elpidiidae. It’s also possible, these scientists warn, that deep-sea mining could disrupt the way carbon is stored in the ocean, contributing to the climate crisis.

Persons: James Cook, ”, Regen Drennan, Drennan, wasn’t, ” Drennan, It’s Organizations: CNN, Clarion, National Oceanography Centre, Geological Survey, Authority, United Nations Convention, NHMDeepSea Locations: London, United Kingdom, France

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

☆ A glut of cheap Chinese goods is flooding the world and stoking trade tensions
▼ + stars: | 2024-03-28 | by ( Hanna Ziady | Laura He | ) edition.cnn.com time to read: +8 min

The oversupply of Chinese goods in key industries is stoking tensions between the world’s biggest manufacturer and its major trading partners, including the United States and the European Union. From clothes to carsChina’s exports of low-priced goods got a boost after it joined the World Trade Organization (WTO) in 2001. “What China exports is advanced production capacity that meets the needs of foreign customers,” Xinhua News Agency wrote. US President Joe Biden recently pledged to investigate whether imports of Chinese vehicles pose a national security threat. “But perhaps more importantly, persistent oversupply and low prices of Chinese goods will add to geopolitical tensions and keep the threat of tariffs and counter-tariffs alive,” she wrote in a recent note.

Persons: Hong Kong CNN —, ” Jens Eskelund, Xi Jinping, Huang Jingwen, ” Eskelund, Brad W, ” Markus W, Voigt, China’s BYD, Warren Buffett, Setser, Li Qiang, “, ”, Joe Biden, Jennifer McKeown, Shawn Deng Organizations: Hong Kong CNN, European Union, European Union Chamber of Commerce, Zero, of, People, China’s National Bureau of Statistics, Council, Foreign Relations, World Trade Organization, Aream Group, Tesla, Getty, China Development Forum, Xinhua, Agency, ., EV, European Commission, WTO, Capital Economics Locations: Hong Kong, United States, China, Europe, Beijing, Xinhua, China's Shandong, . Washington, Brussels

☆ Outlook for China's iron ore market remains strong amid energy transition, says Fortescue Metals CEO
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOutlook for China's iron ore market remains strong amid energy transition, says Fortescue Metals CEODino Otranto, CEO of Australia's Fortescue Metals, discusses the outlook for China's iron ore industry at the Boao Forum for Asia in Hainan.

Persons: Fortescue, Dino Otranto Organizations: Fortescue Metals Locations: Asia, Hainan

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

☆ Gold holds tight range as focus turns to U.S. inflation data
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices were stuck in a tight range on Tuesday as investor focus turns to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve's first interest rate cut this year. Gold prices hit a record high last week after Fed policymakers indicated they still expected to reduce interest by three-quarters of a percentage point by 2024 end despite recent high inflation readings. Meanwhile, Fed Governor Lisa Cook cautioned the U.S. central bank needs to proceed carefully as it decides when to begin cutting interest rates. Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Kyle Rodda, Capital.com, Austan Goolsbee, Lisa Cook Organizations: Aurum, Federal, Chicago Fed Bank, Traders, Fed Locations: U.S

☆ ‘Extraordinary’ archive of ancient brains could help shed light on mental illness
▼ + stars: | 2024-03-25 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —An undertaker turned academic, Alexandra Morton-Hayward became interested in brains — specifically how they decompose — during her former job. To understand why, the anthropologist has compiled a unique archive of information about 4,405 brains unearthed by archaeologists. No other soft tissue survived amongst the bones, which were dredged from a heavily waterlogged grave. Morton-Hayward works in a lab in Oxford, England, where she has helped build a collection of 570 ancient brains. Interestingly, many of the oldest brains are preserved in this unknown way, Morton-Hayward said.

Persons: Alexandra Morton, Hayward, “, ”, Martin Wirenfeldt Nielsen, wasn’t, He’s, ” Wirenfeldt Nielsen, Alexandra L, Morton, It’s, “ I’m Organizations: CNN, University of Oxford, Morton, South Denmark University Hospital, University of Southern, Stone Age, Royal Society B Biological Sciences, Hayward Locations: Morton, Bristol, England, Russia, Oxford, Stone, Stone Age Sweden, Sint, Ypres, Belgium, Polish

☆ Billionaires going to space aim to industrialize the moon, asteroids, and Mars. It's time to set some ground rules.
▼ + stars: | 2024-03-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Read previewThe space business is in bloom and, so far, it's largely unregulated. Other space startups have ambitions including asteroid mining, in vitro fertilization (IVF) in space, and space hotels. As space startups and billionaires vie for a foothold on the moon and beyond, experts say governments probably need to start setting some ground rules. Seven of the world's 10 biggest commercial space operators are based in the US, according to the Organisation for Economic Co-operation and Development. AdvertisementIn another vein, last year Florida passed a bill to protect space companies and their owners from getting sued over spaceflight passenger death or injury.

Persons: —, Jeff Bezos's, Elon Musk, Bezos, NASA What's, George Nield, Galileo, Joel Kearns, Richard Branson, Galactic's, Lyndon B, Johnson, Jeff Bezos, Joe Raedle, Michelle Hanlon, Jared Isaacman, William Shatner, Hanlon Organizations: Service, NASA, Houston, SpaceX, Business, Northeastern University, Federal Aviation Administration's, Space Transportation, JPL, FAA, Virgin Galactic, Virgin, Getty, Artemis Accords, Hague Institute, Global Justice, Washington, Companies, Shepard, Center for Air, Space, University of Mississippi School of Law, titans, US International Trade Commission, Organisation for Economic Co, Federal Communications Locations: Mars, Russia, China, Blue, Florida

☆ Buying a Rolex is easier than you think, an official retailer says
▼ + stars: | 2024-03-21 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. A store director, Caitlin Hausser, walked Business Insider through how to buy a Rolex from William Barthman Jeweler in New York City. It's not as difficult to buy as other luxury accessoriesCaitlin Hausser told Business Insider that Rolex Daytona models were in the highest demand. "Rolex wants new clients," Hausser told BI. Hausser told BI that clients wouldn't have to pay for their new Rolex until it was time to pick it up.

Persons: —, Caitlin Hausser, William Barthman, Jordan Hart, Hausser, It's, Hermès Kelly, Birkin Organizations: Service, Business, New York Stock Exchange, Daytona, Rolex, Rolex Rolex Locations: Swiss, New York City, New York

☆ EU-China trade relations are in a 'slow-motion train accident,' business group says
▼ + stars: | 2024-03-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.

Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S

☆ The best time to sell your home — in 2023, listings in this period sold for $7,700 more, research finds
▼ + stars: | 2024-03-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Spring, the season when home buying and selling activity kicks off, is around the corner. Available housing supply is already rebounding: The number of new listings jumped 14.8% from a year ago, the largest annual gain since May 2021, according to new data from Redfin, a real estate site. Buyers are typically looking to land a new home before their children's new school year while a seller's house benefits from the fresh flowers and renewed greenery post-winter. In 2023, homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home, according to a new Zillow analysis. "We've learned that real estate cycles don't always happen [at this] time of year," said Melissa Cohn, regional vice president at William Raveis Mortgage.

Persons: Amanda Pendleton, We've, Melissa Cohn Organizations: Zillow, Finance, William, Mortgage Locations: Redfin, U.S

☆ Gold prices near record highs
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold prices near record highsWheaton Precious Metals CEO Randy Smallwood joins 'Money Movers' to discuss what's driving the price of Gold, if it's sustainable, and if the move is higher from adjacent commodities.

Persons: Randy Smallwood Organizations: Wheaton Precious

☆ The 2 biggest events for Wall Street next week couldn’t be more different
▼ + stars: | 2024-03-16 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Investors will listen for the central bank's latest perspective on interest rates following the hotter-than-expected CPI and PPI reports this week. As members know, the market is looking for any signs of further disinflation in the housing market as shelter cost inflation remains the Fed's biggest concern. No club names report earnings next week, but we can't wait to see what Nvidia has to show us at its GTC AI developer conference . Other key reports include KB Home on Wednesday, which will provide a real-time look at the state the housing market, unlike the backward-looking housing reports. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, That's, Jerome Powell's, We're, Jensen, Jim Cramer, Huang, He'll, Lululemon, General Mills, OLLI, LULU, Jim Cramer's, Jim, Jerome Powell, Leah Millis Organizations: Dow, Nasdaq, PPI, Nvidia, Blackwell, CNBC, Micron Technology, Citi, Micron, Broadcom, Nike, FedEx, Music Entertainment, ZTO, Signet Jewelers, SIG, Sportradar, Micron Tech, KB, Worthington Industries, Accenture, Darden, Academy Sports &, Lufax, Brands, Winnebago Industries, Commercial Metals Company, Jim Cramer's Charitable, U.S . Federal, Federal, Market Locations: U.S, California, China, Washington , U.S

☆ Gold's three-week winning streak under pressure amid U.S. inflation heat
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were on track on Friday to snap a three-week winning streak as surprisingly hot U.S. inflation readings prompted traders to re-think on how swiftly and deeply the Federal Reserve could cut interest rates this year. A reading on consumer inflation earlier this week also showed some stickiness in inflation. Higher inflation adds pressure on the U.S. Fed to keep interest rates elevated, weighing on non-yielding assets such as gold, and increasing appeal for bonds, raising the dollar. Other data showed U.S. retail sales rebounded last month, but were below analyst estimates, while fewer people sought unemployment claims. Spot platinum fell 0.4% to $927.35 per ounce, palladium dropped 0.2% to $1,066.86, while silver was up 0.6% at $24.97.

Persons: Hugo Pascal Organizations: U.S, Fed, Traders Locations: Singapore, InProved .

☆ The burning acid behind ant stings was spotted around two stars
▼ + stars: | 2024-03-15 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers using the James Webb Space Telescope have detected commonplace chemical ingredients found in vinegar, ant stings and even margaritas around two young stars, according to NASA. The complex organic molecules they observed using the space observatory’s Mid-Infrared Instrument included acetic acid, a component of vinegar, and ethanol — otherwise known as alcohol. The team also found simple molecules of formic acid, which causes the burning sensation associated with ant stings, as well as sulfur dioxide, methane and formaldehyde. Stars form from swirling clouds of gas and dust, and the leftover material from star formation gives rise to planets. Detecting complex organic molecules in space is helping astronomers to determine the molecules’ origins as well as those of other larger cosmic molecules.

Persons: James Webb, Carl Sagan, “, Webb, detections, ”, Will Rocha, Young, Ewine van Dishoeck, Harold Linnartz, Linnartz, “ Harold, ” van Dishoeck Organizations: CNN —, NASA, ESA, Hustak, Leiden University, Astrophysics, Leiden Laboratory Locations: astrochemistry, Netherlands, ices

☆ A lower-risk way to play the gold breakout from here
▼ + stars: | 2024-03-14 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

We'll break down the rally in gold, why gold miners have been trailing it and the options trades I'm putting on from here accordingly. Investing in gold and silver mining companies, rather than purchasing the precious metals has frequently been promoted as a way to get "leverage" to the price of gold or silver. Notice that the share price of the VanEck Gold Miners ETF (GDX ) tracking the companies, has declined more than 15.5% since the highs in April of 2023. GDX GLD mountain 2023-04-13 VanEck Gold Miners ETF (companies) vs. SPDR Gold shares ETF (commodity) It should be said that GDX and Newmont Corporation pay dividends, whereas gold itself does not. Additionally gold miners are sometimes located in suboptimal geographic locations/jurisdictions where they may be subject to geopolitical factors beyond the price volatility of the commodities they produce.

Persons: Warren Buffett Organizations: Gold Miners, Newmont Corp, Gold Miners ETF, SPDR, Newmont Corporation, Mining, Consumers Locations: Washington

☆ Premarket stocks: This investor predicted the dot-com bust. He thinks AI is a bubble that will ‘deflate’
▼ + stars: | 2024-03-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal? That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year. “A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post. “The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote. Still, the notorious market bear sees some areas of opportunity in the stock market.

Persons: —, Jeremy Grantham, ”, Grantham, Granthan, “, Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang Organizations: CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday Locations: New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing

☆ Nippon Steel's takeover of U.S. Steel is highly politicized, says Timna Tanners
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNippon Steel's takeover of U.S. Steel is highly politicized, says Timna TannersTimna Tanners, Metals and Mining Analyst at Wolfe Research, discusses Nippon Steel's takeover proposal of U.S. Steel.

Persons: Timna Organizations: Nippon Steel's, U.S . Steel, Metals, Mining, Wolfe Research, Nippon

☆ Gold subdued as U.S. inflation surprise casts doubt on mid-year rate cut
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday, after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June. Gold's latest price drop comes as everything falls back to the inflation data, that feeds through into U.S. Fed's decision making, Michael Langford, chief investment officer at Scorpion Minerals Ltd said. Langford expects a healthy correction of up to about 10% in gold prices from here. Bullion fell 1.1% on Tuesday, after data showed U.S. consumer prices increased solidly in February, above forecasts and suggesting some stickiness in inflation. This was gold's worst single-day decline since Feb. 13, when data showed consumer prices also increased more than expected in January.

Persons: Michael Langford, Langford Organizations: Co, Federal, Scorpion Minerals Ltd, Traders, Treasury Locations: Bangkok, Thailand, U.S, Ukraine

☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

☆ Japan Inc set to offer big wage hikes, paving way for end to negative rates
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Some of Japan's biggest companies are expected to formally offer sizeable pay increases at annual talks with unions that wrap up on Wednesday, clearing the way for the central bank to end negative interest rates as early as next week. Economists see substantial wage increases as a prerequisite for the Bank of Japan, or BOJ, to declare that its long-held goals of sustainable wage growth and stable prices are in sight and usher in an end to negative rates in place since 2016. As a result, some analysts expect this year's wage increases at 5% or more, from just under 4% previously. Unions across industries, including automobiles, electronics, metals, heavy machinery and the service sector have all demanded hefty pay hikes.

Organizations: Toyota Motor, Japan's, Bank of Japan, Workers Locations: Toyota, Nagoya, Japan

☆ Alcoa to buy Australian partner Alumina in $2.2 billion all-stock deal
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +1 min

The Alcoa Corp. Kwinana Alumina Refinery in Kwinana, Australia, on Wednesday, Feb. 28, 2024. U.S. aluminum producer Alcoa made a $2.2 billion offer to acquire its Australian joint-venture partner Alumina Ltd. to consolidate ownership of key upstream assets with long-term demand for the metal forecast to rise. Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion and make the U.S. company one of the world's largest producers of alumina and bauxite. Shares of Alumina rose as much as 10.4% after Alcoa announced the deal on Monday, hitting their highest since August 2023. Buying Alumina gives Alcoa full control of their joint venture, which is one of the world's largest producers of the semi-processed form of aluminum.

Persons: Alcoa Organizations: Alcoa Corp, Alcoa, U.S . Locations: Kwinana, Australia, U.S, China, United States

☆ 'Porous' sanctions haven't stopped Russia's war, but there's still more the West can do to squeeze its economy
▼ + stars: | 2024-03-10 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

According to Peach, sanctions haven't halted money from non-Western countries flowing to Russia. Even G7's bid to curb export income through a $60 per barrel cap on the price of oil hasn't really hobbled Moscow's oil trade. The West has reduced imports of Russian energy significantly but Russia has largely re-routed oil exports to Asia." Peach wrote that the West could squeeze Russian energy more by slapping secondary sanctions on third-party purchases of oil and gas from the country. AdvertisementBut it's unlikely for the West to take this path, he added, given Russia's energy dominance and the risk of sparking volatility that could end up antagonizing partners like India.

Persons: —, Vladimir Putin, Owen Matthews ,, Putin, Liam Peach, Peach, Matthews, Russia mobilizes Organizations: Service, Business, Capital Economics, Export, Central Bank of Russia, Russia, China Goods Trade, SA Locations: Ukraine, Moscow, Russia, Nord, Turkey, UAE, Asia, Europe, Russian, China, Dubai, American, India

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