May 5, Thursday, 2022 (1:30 p.m.) Newsline read by Ms. Keiko Kitagawa

May 5, Thursday, 2022 (1:30 p.m.) Newsline read by Ms. Keiko Kitagawa

1.US exports to Russia have posted a steep year-on-year decline of nearly 80 percent in March, mainly due to severe economic sanctions. A report released by the US Commerce Department shows that the United States exported products totaling 101 million dollars to Russia in March. That’s a drop of 78.8 percent from the same period last year.
2.Policymakers at the US Federal Reserve have seen inflation rise to its highest level in 40 years. They raised interest rates by half a percentage point on Wednesday, their biggest rate hike in 22 years.
3.European Commission President Ursula von der Leyen has called on European Union nations to agree to a complete ban of Russian oil imports by the end of the year. Von der Leyen made the proposal to the European Parliament on Wednesday as part of an additional package of sanctions against Russia over its invasion of Ukraine.