Russia faces increasing difficulty shipping commodities to China through its vast eastern rail network, a sign of the growing economic challenges stemming from war and sanctions, despite the Kremlin’s assurances that all is well. Russian Railways JSC — the state-owned carrier responsible for all rail transport throughout the country — last week approved a 30%…
Advanced Micro-Fabrication Equipment Inc. has been removed from the US Department of Defense’s list of Chinese military companies, doing away with what the firm describedBloomberg Terminal as an “irrational” designation. The producer of chipmaking equipment was placed on the Pentagon’s blacklist, which doesn’t carry specific sanctions but tends to discourage US firms from trading with…
Oil held an advance as the US indicated that a softer market may allow for further sanctions on Russia’s energy sector. West Texas Intermediate traded above $70 a barrel, after rising 2.5% on Wednesday, while Brent closed near $73. US Treasury Secretary Janet Yellen said that relatively low prices might allow further action against Russia’s…
China has condemned sanctions by Canada on eight Chinese officials for alleged human rights violations, opening a fresh fissure in already strained bilateral ties. The Chinese embassy in Ottawa called Canada’s actions “truly egregious” and vowed to respond. “China will take resolute measures to safeguard its national sovereignty, security, and development rights and interests,” the…
To get John Authers’ newsletter delivered directly to your inbox, sign up here. Points of Return has dwelt on so many geopolitical risks this year. Somehow the conflicts in neither Gaza nor Ukraine have upset oil markets, or averted the ongoing freight train that is the US stock market. Incumbent governments have been booted out…
Beijing has set out to extend its domestic laws across international borders with a ban on selling some goods to the US that applies to companies both inside and outside China. The first use of new export control rules attempts to replicate the extraterritorial reach of US and European sanctions by covering Chinese products or…
A key House Republican criticized the Biden administration’s latest attempt to curtail China’s chipmaking ambitions, saying US rules unveiled Monday leave loopholes that will let Chinese companies like Huawei Technologies Co. continue acquiring American technology. Representative John Moolenaar, who chairs the chamber’s China Select Committee, expressed his concerns in a letter Wednesday to Commerce Secretary…
China has imposed sanctions on 13 US military companies in retaliation for Washington’s planned arms sales to Taiwan, a move seen as largely symbolic but which has the potential to disrupt the firms’ supply chains. The companies affected are mostly related to drone manufacturing and include BRINC Drones Inc., Shield AI Inc., and Kratos Unmanned…
Oil steadied after a decline, with traders looking ahead to an OPEC+ meeting on Thursday that’s expected to see the cartel again defer a move to revive output in an already well-supplied market. Brent crude traded above $72 a barrel after sliding by nearly 2% on Wednesday, with West Texas Intermediate below $69. The Organization…
German foreign minister Annalena Baerbock accused China of providing Russia with weapons for its war of aggression against Ukraine and threatening peace in Europe ahead of a potentially thorny visit to Beijing. “Instead of taking responsibility for peace and security in the world as a permanent member of the UN Security Council, China is opposing…