The United States and its allies moved Friday to end normal trade relations with Russia, as President Joe Biden vowed the West would make Vladimir Putin “pay the price” for his invasion of Ukraine.

The gusher of money the US government poured into family bank accounts during the coronavirus pandemic, credited with speeding the rebound from the health crisis, may now help limit the economic damage from Russia’s invasion of Ukraine.

US President Joe Biden has ordered the federal government to look into creating a digital dollar, a move with the potential to reshape how money is moved and used around the world.

Persistent high oil prices prompted by Russia’s invasion of Ukraine could cut a full percentage point off the growth off large oil-importing developing economies like China, Indonesia, South Africa and Turkey, a World Bank official said on Tuesday.

Coca-Cola and PepsiCo are suspending business in Russia, the soft drink giants announced Tuesday, as corporations and Western governments penalize Moscow for its invasion of Ukraine.

A jump in oil and auto imports in January combined with a sharp drop in exports caused the US trade gap to widen again in January, according to official data released Tuesday.

The World Bank on Monday approved an additional $489-million package in support for Ukraine, to be made available immediately and dubbed  “Financing of Recovery from Economic Emergency in Ukraine.”

The International Monetary Fund on Saturday said it expected to bring Ukraine’s request for $1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighboring Moldova.

Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw.

The White House is looking for ways to reduce US consumption of Russian oil while protecting American families from price hikes, an administration spokeswoman said Friday.

Alphabet Inc’s Google barred on Saturday Russia’s state-owned media outlet RT and other channels from receiving money for ads on their websites, apps and YouTube videos, similar to a move by Facebook after the invasion of Ukraine.

Ukraine has requested additional aid from the IMF following the Russian invasion, the fund’s leader Kristalina Georgieva said Friday.

The United States on Friday issued new rules that would allow most commercial and financial transactions with Afghanistan while maintaining sanctions against the Taliban, in an effort to ease the flow of humanitarian aid and kickstart the paralyzed economy.

US tech giants were under intense pressure to pick a side regarding Ukraine’s invasion, at once facing calls to stand against Moscow’s internationally condemned war but also Kremlin retribution for resistance.

WTO chief Ngozi Okonjo-Iweala warned Friday about the “economic impacts” of the war in Ukraine, a major wheat exporter, which will hurt consumers around the world.

US President Joe Biden’s administration is set to roll out Thursday new steps to boost domestic production of key materials and address supply chain problems that have contributed to soaring prices over the past year.

The United States is poised to unleash a wider array of sanctions against Russia if Moscow escalates the conflict in Ukraine, denying key Russian financial institutions and companies access to US dollar transactions and global markets for trade, energy exports and financing. read more

US consumer confidence fell for the second straight month in February, a survey said Tuesday, as Americans’ feelings about the economy’s present and future health cooled.

US home prices in 2021 saw their biggest increase in at least 34 years, according to data released Tuesday, as buyers spent the year snapping up homes and builders struggled to keep up.

President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring U.S. financial institutions from processing transactions for major Russian banks, three people familiar with the matter said.