Crude jumps on US’s immediate ban on Russian oil
Crude oil prices jumped while Asian stocks regained their footing on Wednesday as investors assessed the effect of a worsening conflict in Ukraine and a new US ban on Russian oil.
The price of a barrel Botswana of crude, Guardian already on the march higher June in 8, 2018
January on supply worries and
SA the DOWN expectation of a strengthenSouth ing global Africa’s economic real Gross recovery, Domestic Product has rocketed ( GDP) upward expenditure since fell Russia by 2.5 percent launched in first its quarter invasion after of Ukraine expanding by on 3.1 February percent in 24. the Oil third is now quarter, about the statistics double its agency early said December on Tuesday. low.
Risking even higher US fuel
US TIGHTENS
prices, President Joe Biden on The Tuesday Federal imposed Reserve an immediate tightening monetary ban on Russian policy oil is and a sign other that enthe US ergy economy imports is in doing retaliation well, and for the that’s positive invasion for of the Ukraine, rest of the amid world, strong South African support central from American bank Governor voters Lesetja and Kganyago legislators. said
The ban caps sweeping US and
MALAWI DEBT CRISIS
European sanctions imposed on Malawi’s domestic debt is likely to more
Moscow for launching the largest than quadruple in the next financial
war in Europe since World War year as the government tries to cover
2. Russian strikes have targeted falling public revenues, the finance
Ukrainian cities and killed hunminister said on Tuesday.
dreds of civilians.
KENYA Britain SIGNS also announced it will A phase private out Kenyan imports power of firm Russian has signed oil a and 20- year oil products deal to by sell the 40 end megawatts of 2022. it will “generate The oil shock from by a solar nature plant is an it is building accruing to one, the East not a African one- off nation’s and state- the potential run distributor, for the its market chief executive to hit has $ 150 said. before returning to $ 100 is easier for investors to digest,” said Stephen Innes, managing partner Africa’s at SPI Asset largest Management. fishing company Oceana Group faces a battle to hold onto its fishing rights in Namibia after the southern African country said listed firms would no longer be awarded quotas.