An Italian factory that works in conjunction with the Ukrainian steelworks Azovstal is currently at a standstill, as steel from Ukraine is no longer arriving. But just down the road, a factory partially owned by a Russian oligarch is operating at full capacity, using Russian steel. Our correspondents report from northern Italy. But first, the United States has cut off the last remaining financial route for Russia to pay off its debts to US bondholders by allowing a waiver to expire. 


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