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U.S., allies take key step toward funding Ukraine with Russian assets - The Washington PostThe United States and its Western allies took a key step Saturday toward using frozen Russian assets to fund Ukraine's war effort, moving closer to providing another key financial stream for Kyiv.
Russian officials have suggested they could retaliate by confiscating U.S. and European assets in Russia, although it's unclear how much impact such measures could have.
Home-insurance payouts are shrinking. Here's how to prevent the worst. - The Washington Post
With tornado season in full swing — hitting Texas and Iowa hard in the last week — and hurricane and wildfire season looming this summer, insurance experts say millions of homeowners will find their policies failing to cover repairs and rebuilding just when they're urgently needed.
A 2023 study published in the Connecticut Insurance Law Journal found 77 percent of insurance payouts in California in 2018 and 2019 didn't fully cover replacement costs, with the average payout falling 35 percent short. Following natural disasters like wildfires, 96 percent of insurance payouts were insufficient.
Biden releases gas to tame inflation ahead of summer - The Washington Post
The Biden administration on Tuesday announced the release of 1 million barrels of gasoline, a move aimed at cutting prices at the pump this summer, as the November election nears.
The administration's move comes as summer driving season gets underway, when prices typically bump up as a result of demand from travelers and changes made in the formulation of the fuel to meet summer air quality rules. Congress had earlier mandated that the reserve, which was created in the aftermath of Superstorm Sandy, be shut down, which prompted the sale.
Cryptocurrency companies and investors have spent at least $149 million over the past four years to thwart tough regulation, elect new allies to Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to soften federal oversight of the embattled industry.
The wide array of financial backers include Coinbase and Ripple, which the U.S. government recently sued for allegedly violating federal rules meant to protect investors from harm. Even as they have come under withering scrutiny, these and other major crypto firms have fought not only to rebuff the charges but to remake the laws entirely, mounting an expensive lobbying effort that has left no part of Washington untouched.
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