FT News Briefing Russia’s war on Ukraine adds more turmoil to global shipping
Mar 7, 2022
The podcast dives into the dramatic humanitarian crisis ignited by Russia's invasion of Ukraine, which has led to Europe's fastest-growing refugee situation since World War II. Discussions unfold about the U.S. considering a ban on Russian oil, adding to geopolitical tensions. The chaos doesn't stop there; global shipping faces severe disruptions as major companies suspend operations tied to Russia. Additionally, the economic fallout hits Sri Lanka hard, risking default as its tea and tourism sectors struggle amidst the crisis.
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Ukraine Refugee Crisis
- Over 1.5 million refugees have fled Ukraine, creating the fastest-growing refugee crisis in Europe since WWII.
- Poland, Hungary, Slovakia, and Moldova are taking in large numbers, with Moldova needing international support.
US Reversal on Russian Oil Ban
- The Biden administration is discussing banning Russian oil imports with European partners.
- This reversal follows pressure from US lawmakers and a bipartisan bill supporting the ban.
Russia's Demands on Iran Nuclear Deal
- Russia demands US guarantees that sanctions won't hinder its trade with Iran, including military cooperation.
- This complicates US efforts to rejoin the Iran nuclear accords, where Russia is a key player.