• cited Russian central bank as saying ban of food imports will push up Russia’s inflation rate
  • Russian sanctions have not increased oil prices, caused financial sector linkages or had aggregate impact on overall US exports

US treasury under- sec Cohen says US is prepared to levy additional sanctions on Russia

  • impact of sanctions on Russian economy exacerbated because market understands that US is prepared to add more
  • US allies in Europe unified on need to impose additional costs if Russia does not de-escalate in Ukraine
  • treasury dept is in close contact with US businesses on Russian sanctions but declines comment on Exxon drilling project

That’s my lot for today.. Time to step out into this beautiful summer’s day that’s been teasing me for the past few hours

Back to my early shifts again from tomorrow as our beloved leader takes a well earned break and Ryan steps up for the whole US day. Have a good rest-of-session and I hope we’ve helped make/save you a pips along the way