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China cuts exports to Russia to avoid conflict with the West

U.S. Secretary of Commerce Gina Raimondo told the media about China's shrinking shipments, citing the latest Chinese trade data available to her.

Chinese laptop shipments to Russia fell 40% in March, smartphone exports fell two-thirds (that is, by more than 66%), and shipments of telecommunications network equipment fell 98%.

"I am often asked if these export control measures work. And I think the answer is an unqualified, unqualified yes. I think they work because we have such a strong coalition of countries around the world involved in enforcing them," Raimondo said.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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