On Tuesday, the UK government banned exports of luxury goods to Russia and set a 35% import tariff on $1.2 billion worth of imports from Russia.
This week, the European Union approved new sanctions on Russia, which target steel, energy and defence sectors.
Reuters revealed this week that various funds have been starting to invest in defence stocks despite previously marketing themselves as sustainable and avoiding the sector.
Recent shortages in European natural gas supplies have been boosting the profits and amounts of US liquefied natural gas exports, as record volumes are being constantly reached.
Reuters has revealed that vegetable oil price analysts are expecting a decline in global consumption during the second half of 2022.
The International Energency Agency stated this month that it would release more crude oil from its reserves and create a plant that would quickly reduce global oil usage.
Analyst James Fry has revealed that he expects the price for palm oil to hit almost $2,000.00 per ton during the upcoming months.
Reuters revealed on Monday that the Russian billionaire and fertilizer and coal king Andrei Melnichenko stated that the world is about to experience a food crisis.
This week, the US Dollar hit a five year high level against the Japanese Yen, as the Bank of Japan appears to be lagging in monetary tightening, compared to the US Federal Reserve.
On Monday, Deutsche Bank announced that the company would leave the Russian markets, as the bank's CEO retraced back its previous statements due to investor pressure.
At the start of this week, crude oil prices declined, as the markets were expecting the US Federal Reserve rate hikes that were set for Wednesday.
Energy executives, who gathered at the CERAWeek energy conference this week, have revealed that they expect a reduction of demand to cause a decrease of energy prices.
This week, Uber stated that the Spanish rules that were introduced to force couriers to register as employees has led to a shortage of labour.
Google revealed this week that it would increase its cloud security with a $5.4 billion deal with Mandiant.
The Bank of England announced this week that the Russian sanction effect on UK finances would be manageable.
This week, the German government announced that it would not expand the life-span of its three remaining nuclear power plants. Instead, the country would create a new LNG terminal in 2024.
Reuters revealed this week that the US government would consider easing sanctions on Venezuelan oil exports to the United States.
At 12:45 GMT, the European Central Bank published its future monetary policy. Due to the revealed monetary tightening, the value of the Euro spiked. The EUR/USD reacted with a jump of more than 70 base points or 0.65% in less than three minutes.
UniCredit revealed this week that the bank would incur a loss of up to $8 billion due to writing off its business in Russia.
The Ukrainian government announced on Wednesday that it is banning the exports of various grains, sugar, meat and salt until the end of the year. The announcement caused a surge of these commodity prices.
This week, the European Union officials agreed upon setting up new sanctions on Russia over the invasion of Ukraine.
Danone announced on Tuesday that the company had increased investment in its brands to increase sales growth by up to 5.00%.
This week, the Norwegian sovereign wealth fund revealed that it had put Bombardier, Adani Ports and Hyundai Glovis on a watch list due to ethical concerns.
During Wednesday's trading hours, the common European currency, the Euro, surged against other assets, as the markets awaited the European Central Bank events scheduled for Thursday.