Business
Russia becomes ‘high income’ country – World Bank
Trade, finance and construction drove Russia’s GDP up and propelled it into the top category, in spite of Western sanctions
Russia seizes ownership of former Ukrainian president’s chocolate factory – media
Bailiffs transferred shares in the Roshen factory in Lipetsk, once owned by Pyotr Poroshenko, to the Russian state, RIA Novosti reports
Ukraine could declare default – The Economist
Kiev urgently needs to negotiate a debt-restructuring deal with its creditors, according to The Economist
Russians have growing appetite for black caviar – analysis
Consumption of black caviar has grown by almost 10% in Russia during the first half of this year, sales figures show
US offers Boeing plea deal over deadly crashes – media
US authorities are reportedly proposing a nearly $244 million fine and three years of supervision to settle fraud charges
US signs new $4.5bn Patriot Missile contract
The Pentagon announced that Lockheed Martin has been awarded a $4.5 billion contract for supplying 870 units of Patriot Missiles systems
Major EU airline introduces hefty ‘environmental charge’
Germany’s Lufthansa has added a fee to plane tickets to cover rising costs linked to environmental regulations
Russia’s Gazprom discloses details of major new deal with China
The Far Eastern route delivering Russian natural gas to China will become operational in 2027, CEO Aleksey Miller has said
Iconic US car giant could leave Germany – Bild
Ford has reportedly sharply downsized management at its Cologne plant in Germany as part of a job cuts plan
National debt warning issued to US
US budget deficits and debt present a growing risk to the global economy and have to be urgently addressed, the IMF says
Italian bank ordered to pay $480mn over scrapped Russian deal
A Russian court has ordered Italy’s UniCredit bank to pay nearly $480 million over a scrapped gas processing project
Russia and Iran ink gas deal
A strategic memorandum has been signed on pipeline gas deliveries to the Islamic Republic, according to energy giant Gazprom
EU to send €1.4bn in Russian money to Ukraine – Borrell
The bloc has bypassed Hungary to approve an aid transfer to Kiev, foreign policy chief Josep Borrell has said
EU slaps first sanctions on Russian LNG
The 14th round of economic restrictions targets Russia’s liquified natural gas for the first time
American hegemony’s grave wound: The true story of the petrodollar’s demise
News about the expiration of a Washington-Riyadh deal may be fake, but an arrangement that is key to the dollar’s success has eroded
Musk’s X replaces key executive – FT
The platform’s CEO has reportedly fired her right-hand amid growing tensions with Elon Musk over raising sales and slashing costs