EU states have backed new sanctions on Russia

Ross J Burland FXStreet

Politico reported that Western countries have ''slapped a new round of sanctions on Russia in the nick of time on Friday, striving to present a united front as the world marked the first anniversary of Vladimir Putin’s invasion of Ukraine.''

The article reported that ''in a show of solidarity with Kyiv, both the US and the UK imposed sanctions earlier on Friday.''

It has been confirmed today that EU states have backed new sanctions after a clash between Poland and Italy held up the process for days.

For a list of new sanctions, see here. Among them, they include about ''120 individuals and entities on the sanction list. New export restrictions have been introduced on sensitive dual-use and advanced technologies that contribute to Russia's military capabilities and technological enhancement, based on information received from Ukraine, our Member States and our partners. Today's package imposes import bans on the following Russian high-revenue goods:

Bitumen and related materials like asphalt; and
Synthetic rubber and carbon blacks.

Three Russian banks have been added to the list of entities subject to the asset freeze and the prohibition to make funds and economic resources available. Today's package imposes new reporting obligations on Russian Central Bank assets.''

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

USD/JPY stays below 160.50 as markets assess BoJ decision

USD/JPY fluctuates in a relatively narrow range above 160.00 on Tuesday as markets assess the Bank of Japan's (BoJ) decision to raise the policy rate by 25 at the June meeting. Meanwhile, investors keep a close eye on news coming out of the Middle East, while preparing for the critical Fed meeting.

AUD/USD trades in tight channel near 0.7050 despite hawkish RBA message

AUD/USD trades modestly lower on the day at around 0.7050 on Tuesday as markets adopt a cautious stance amid a lack of details surrounding the US-Iran peace agreement. The Reserve Bank of Australia (RBA) left the door open for possible policy tightening after leaving the interest rate unchanged, as expected, at the June meeting but failed to boost the Australian Dollar.

Gold: $4,000 or $4,500? The Fed may decide Gold’s next big move

Gold now surrenders part of its initial advance and recedes to the vicinity of the $4,350 mark per troy ounce on Tuesday. The early enthusiasm sparked by the US-Iran peace deal has faded somewhat, prompting investors to adopt a more prudent stance as they await further details of the agreement and key guidance from the Fed.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it.

BoJ just hiked and US-Iran deal is on the table: Why Japanese Yen is still around 160.00

The Bank of Japan lifted interest rates from 0.75% to 1.00%, its highest level in more than three decades. The landmark move aims to stabilize a sharply weakening Japanese Yen, but by looking at the immediate market reaction, it doesn’t look like it’s going to work.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.