Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
A few days after Europe's leaders announced a ceasefire in Ukraine, the European Union issued a new list of sanctions this week against separatists in the region as well as Russian military leaders and politicians. But experts who spoke with CNBC cast doubt on how hard the new measures will hit Russia's economy.
In all, 19 people and nine organizations made the list. The new sanctions extend mainly to Russian deputy ministers, parliamentarians and organizations, including separatist rebel and other paramilitary groups that the European Union believes have helped to fuel the war in Ukraine.
"They are not likely to have any economic impact, and are almost entirely political and symbolic in nature," said Fiona Hill, director and senior fellow at the Center on the United States and Europe at The Brookings Institution. She said the sanctions could in fact strengthen the resolve of Russian President Vladimir Putin.
"We are in an escalatory cycle with Russia, and the sanctions add to the spiral. They do not have a deterrent effect," Hill said. "They are a signal, however, that there will be no quick return to business as usual with Russia. We now have to decide what else we will and can actually do to stem the conflict in Ukraine and deal with Russia over the longer term."
Eurasia Group President Ian Bremmer said he expects the sanctions to have little impact on the fighting that continues to rage on in the region. Pro-Russian separatists and Ukrainian troops exchanged fire on Tuesday around the , a major transportation hub.
European governments are wary of the effect that more stringent sanctions against some of Russia's biggest financial institutions and corporations would have on their own economies. The European Union is Russia's biggest trade partner, and Russian imports from the EU accounted for 123.2 billion euros ($139.7 billion) in 2012, according to the Permanent Mission of the Russian Federation to the European Union.
"Major steps in that direction could have negative ramifications for many European economies, which is making many Europeans hesitant to ratchet things up to the degree where sanctions would be more substance than message," Bremmer said.
"In this case, the impact is on the individual, and on a strategic level, these additional sanctions are symbolic in impact at best," said Ian Brzezinski, senior fellow at the Atlantic Council, who focuses on trans-Atlantic security. "It is a continuation of the West's incremental approach to this crisis that has proved to date woefully ineffective. Continued incrementalism in this crisis will only be a recipe for continued conflict."