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China crushes American sorghum crop imports with 179% tariff

China has retaliated in response to US tariffs with a huge levy on American sorghum crops. Beijing has accused Washington of price dumping, which is hurting Chinese farmers. Sorghum is a crop used to feed livestock and can be made into a liquor known as maotai, which is very popular with Chinese drinkers. China is the largest buyer of American ...

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Rothschild heir takes reins of banking dynasty

Probably the most well-known European banking dynasty has announced the appointment of a new chairman of its family investment bank, according to a statement published on Tuesday. Alexandre de Rothschild, 37, was picked to replace his 75-year-old father, David de Rothschild, as the bank’s top executive. The successor will become the seventh generation of the dynasty to take charge of ...

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Russian aluminum major losing Japanese market after being sanctioned by US

Top commodity dealers in Japan have asked United Company RUSAL to stop shipping refined aluminum and other products after the Russian firm was added to the US sanctions list. “We have requested RUSAL stop shipments of aluminum for our term contracts as we can’t make payment in US dollars and we don’t want to take the risk of becoming a ...

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Russian stock markets, ruble recover after Trump rejects further sanctions

The US president’s decision to delay extending further economic sanctions against Moscow has pushed Russian stocks and currency higher. The new penalties were aimed at punishing Russia for its support of the Syrian government. The RTS dollar-traded index had gained nearly three percent by 08:00 GMT on Tuesday, while the ruble-denominated MOEX climbed almost two percent, led by shares in ...

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New 'cosmic' airport in Crimea offers flights to Venus & Mars

A new terminal opened at Crimea’s Simferopol International Airport on Monday, when the spaceship-like complex welcomed its first flight from Moscow. The facility is located 6km from the old airport it replaces. It was built in 22 months and covers an area of 78,000 square meters. The hub can handle 3,650 passengers per hour or 6.5 million per year. The ...

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Russia dumps US debt, reducing holdings to lowest level in a year

The Central Bank of Russia has sold $ 3.1 billion in US Treasury bills as of February, reducing its investment in American debt to the lowest level since March last year. Moscow still occupies the 16th position among the largest holders of US government bonds. Russia has cut its holdings for the third consecutive month. Read more Russian Finance Minister ...

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Russian nuclear energy deals with Egypt reach almost $60bn

Russian state corporation Rosatom, which is building Egypt’s first nuclear power plant (NPP), has a range of contracts worth tens of billions of dollars with the country, the company’s chief has announced. According to Rosatom head Alexey Likhachev, the company launched a commercial package of all Egyptian contracts in mid-December. It includes the construction of a WWER (Water-Water Energetic Reactor) ...

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Aluminum hits highest price in 7 years with Russian supply at risk

The cost of aluminum futures on the London Metal Exchange has risen to its highest level since 2011. Global aluminum supplies are at risk because of US sanctions against Russian producer RUSAL. On Monday, the metal went up to $ 2,377.50 per ton, setting a new seven-year record. Over the past week, its value increased by 12 percent. Read more ...

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US sanctions aim to squeeze Russian firms out of global markets – Kremlin spokesman

Sanctions against Russia are taking on an obsessive form and are aimed at driving Russian companies from international markets, according to Kremlin spokesman Dmitry Peskov, responding to questions on possible further penalties. On Sunday, the US ambassador to the UN, Nikki Haley, said that the White House is planning to introduce a fresh round of sanctions against Moscow later on ...

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Trump slamming Russia for currency devaluation shows lack of knowledge or bias – analyst to RT

The ruble has lost nine percent of its value after Washington sanctions targeted Russian businesses. But that’s not the reason for the ruble’s depreciation, according to US President Donald Trump. “Russia and China are playing the currency devaluation game as the US keeps raising interest rates. Not acceptable,” Trump tweeted on Monday. Russia and China are playing the Currency Devaluation ...

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