FT News Briefing Russian gas projects face sanctions
Jan 28, 2022
Apple has set a record for holiday revenue, highlighting strong iPhone sales. Tensions rise as Western nations consider sanctions against Russia over potential aggression in Ukraine. There’s a critical discussion on Europe’s energy dependence on Russia and the economic fallout from proposed sanctions. Meanwhile, the Federal Reserve hints at a tougher stance on inflation, stirring market volatility. Finally, the UK's new information watchdog aims to assert control over Big Tech in a changing regulatory landscape post-Brexit.
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Europe's Reliance on Russian Gas
- Although Europe heavily relies on Russian gas, sanctions are being considered.
- This highlights the severity of the situation and willingness to accept economic consequences.
Western Sanctions on Russian Gas
- The EU, UK, and US plan to sanction Russia's gas industry if Russia invades Ukraine.
- These sanctions aim to cut off Western financing and technology for new Russian gas projects.
Fed Signals Rate Hikes
- The Federal Reserve signaled interest rate hikes starting in March.
- Market volatility ensued due to uncertainty about the degree of hawkishness.