and from M-1
- The Ukraine-Russia war is causing major disruptions in global markets.
- The world’s biggest container ship operators said they would temporarily suspend services to Russian ports. (WSJ)
- Freight disruptions are being felt in Asia and Europe, as delays and higher costs hamstring shipping efforts. (WSJ)
- Oil futures topped $100 per barrel for the first time since 2014. Prices are expected to exceed $4 a gallon nationwide over the next few weeks. (CNN Business)
- Airlines are facing multiple challenges, not only related to gas prices, but to their usual routes. Carriers are preparing for prolonged airspace blockages over Ukraine and Russia. (Yahoo! Finance)
- Countries and private companies are using powerful financial sanctions to create consequences for Russia. Here's what's happened so far:
- Western allies have blocked certain major Russian banks from the SWIFT global financial messaging system—aka, the technology that connects the world’s banks. As a result, the value of the Russian ruble fell significantly (30%) on Monday, making it worth less than one cent. (WSJ)
- NYSE and Nasdaq Inc. have temporarily paused trading for Russian-based companies.
- The International Olympic Committee (IOC) recommended that all Russian and Belarusian athletes be banned from international competition. FIFA followed suit and banned Russia from the 2022 World Cup.
- Snap Inc. (SNAP) paused all ad sales to Russian companies.
- Visa (V) and Mastercard (MA) blocked multiple major Russian financial institutions.
- Disney (DS), Sony (SONY), and Warner Brothers paused new movie releases in Russia.
- The following major companies have also announced sanctions: Google, Meta, Twitter, BP, Boeing, GM, Goldman Sachs, and more.
- Elon Musk recently answered calls from the Ukrainian Vice Prime Minister regarding the urgent need for internet in Ukraine. Musk opened the country’s access to Starlink, a SpaceX project that provides high-speed internet through a large network of low-orbit satellites. The Vice Prime Minister tweeted on Monday that the promise had been kept. (The Street)
