Business

The United States has imposed fresh sanctions on Russia, targeting dozens of defense companies, hundreds of parliament members, and the chief executive of Russia's largest bank. The move aims to increase pressure on Moscow over its invasion of Ukraine and restrict its economic capabilities.

Singapore's core consumer price index rose 2.2% in February, lower than expected, but authorities warn of potential inflation pressures from global supply constraints and geopolitical tensions. The Monetary Authority of Singapore suggests ongoing challenges despite anticipated easing of external supply issues in the second half of 2022.

Russia will partially reopen its stock market with heavy trading restrictions, nearly a month after shares plunged on February 24 following the Ukraine invasion. Trading will be allowed for 33 of 50 companies in the MOEX Index, including Aeroflot, Gazprom, and Rosneft, as the country attempts to stabilize its financial markets amid Western sanctions.

Russian President Vladimir Putin declared that countries considered unfriendly must now pay for Russian natural gas exclusively in rubles. This move comes in response to Western sanctions and asset freezes, with Putin arguing that existing payment methods undermine trust in traditional currencies.

British inflation surged to 6.2% in February, the highest since 1992, driven by soaring energy bills and petrol prices. The Office for National Statistics reports widespread food price increases, intensifying financial pressure on households and creating challenges for the government's economic strategy.

The ongoing conflict between Ukraine and Russia has dramatically impacted global wheat markets, threatening food security in multiple regions. With wheat prices surging by a third since the invasion, farmers are cautiously considering expanding wheat production to capitalize on market conditions while navigating challenges like drought and increasing fuel costs.

UN Secretary-General Antonio Guterres cautions that countries rushing to replace Russian energy supplies may undermine climate goals by defaulting to high-carbon alternatives, calling fossil fuel addiction a path to "mutually assured destruction"

European Union foreign ministers accuse Russian forces of committing war crimes in Ukraine, with German Foreign Minister Annalena Baerbock stating that attacks on civilian infrastructure could be considered war crimes, while new sanctions remain uncertain. - EXCERPT: Summarizes the key information concisely, includes key actors and main points

The Securities and Exchange Commission has proposed mandatory climate risk disclosures for public companies. Companies would need to report greenhouse gas emissions, transition plans, climate goals, and how severe weather events impact their financial performance.

Ukrainian President Volodymyr Zelenskyy addressed Israeli lawmakers, urging them to take a stronger stance against Russia's invasion. In an emotional Zoom speech, he compared the conflict to Nazi actions and called on Israel to impose sanctions and provide weapons, challenging the country's current mediator role.