Germany in line with UK and halting Russian oil by end of year

Published

4 years ago

April 21, 2022

Brittany Coles

Germany will halt imports of Russian oil by the end of this year

Germany’s foreign minister says oil will be halved by the summer and says it will be at zero by the end of the year.

The minister also pointed out that gas will soon follow.

Germany currently buys a quarter of its oil and 40 per cent of its gas from Russia.

The country have warned that it could face a recession if supplies suddenly stopped.

This follows the US already banning Russian oil imports.

Meanwhile the UK is in line with Germany and plans to phase them out by the end of the year.

Germany has already called off the opening of Russian gas pipeline, Nord Stream 2, in response to the war.

German economic institutes warned that immediately halting Russian imports would spark a sharp recession in Europe’s biggest economy by next year.

Related Topics:Business Politics russia trending

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Wall Street hits record highs as markets shrug off Venezuela tensions

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

Published

1 day ago

January 7, 2026

Harvey Vargas

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

US markets surged to fresh records as investors looked past recent geopolitical tensions following the US attack on Venezuela. Confidence returned quickly, driving broad gains across major indices.

The S&P 500 climbed 0.7% to reach a new all-time intraday high, while the Dow Jones Industrial Average jumped 495 points, or 1%, also setting a record during Tuesday’s session.

The rally signals continued optimism around economic resilience, despite global uncertainty and ongoing international conflicts.

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Dow hits record after U.S. military action in Venezuela

Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.

Published

2 days ago

January 6, 2026

Harvey Vargas

Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.

The Dow Jones Industrial Average surged nearly 600 points to a record close following U.S. military action in Venezuela. Investors responded positively, signalling confidence that the geopolitical situation would not spiral out of control.

Stocks rallied alongside rising crude oil prices, with energy companies like Chevron and Exxon Mobil leading the gains. Analysts noted that oil infrastructure rebuilding in Venezuela could provide long-term benefits for the sector.

Despite the bullish market reaction, gold futures also rose, suggesting that some traders remain cautious amid global uncertainties.

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Wall Street eyes further gains in 2026 as rate cuts fuel optimism

Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.

Published

3 days ago

January 5, 2026

Harvey Vargas

Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.

Wall Street is entering 2026 with renewed confidence as falling interest rates and robust corporate earnings lift expectations for continued stock market gains. Analysts say an easier monetary policy is providing fresh momentum for equities after several strong years.

The US economy has continued to show resilience, with businesses maintaining healthy balance sheets and earnings growth holding up despite global uncertainty. Lower borrowing costs and supportive fiscal settings are expected to further boost investor sentiment.

However, market watchers remain cautious, warning that optimism could fade quickly if economic data disappoints or inflation pressures return.

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