Bloomberg Angela Merkel called Russia’s invasion of Ukraine “a profound turning point in European history.” It’s also been a dramatic wake-up call for her successor as chancellor and prompted a rapid and remarkable shift in German policy on several major fronts. Olaf Scholz — the Social Democrat who took over from Merkel in December —was widely criticized by opponents and ...

  Bloomberg China attempted to distance itself from Russia as the scale of the invasion becomes clear, with Foreign Minister Wang Yi on saying it was “absolutely imperative” for all sides to exercise restraint to prevent the conflict from “getting out of control.” “China has been following the evolution of the Ukraine issue, and the present situation is something China ...

Bloomberg At least two of China’s largest state-owned banks are restricting financing for purchases of Russian commodities, underscoring the limits of Beijing’s pledge to maintain economic ties with one of its most important strategic partners in the face of sanctions by the US and its allies. Industrial & Commercial Bank of China Ltd.’s offshore units stopped issuing US dollar-denominated letters ...