Mexico does not see the need to reduce its oil exports, as many Latin American producers did last year, because demand and pricing for its flagship crude remains firm, the head of state oil company Pemex’s commercial arm said on Tuesday, Reuters reported. Mexico briefly joined an effort by the Organization of the Petroleum Exporting Countries and its allies last year to reduce production to revive crude prices but it limited its contribution to the cuts to 100,000 barrels per day (bpd) for a couple of months through June. The nation had to curb fuel imports amid lower demand.

Brussels and Washington, D.C., imposed new sanctions against senior Russian officials on Tuesday, delivering a one-two punch at the Kremlin over the poisoning attack and jailing of opposition leader Alexei Navalny, Politico reported.

Central banks from Asia to Europe escalated their efforts to calm panicking markets, pledging to buy more bonds and signaling more policy accommodation, after U.S. Treasury yields surged to the highest level in a year, Bloomberg News reported. The Reserve Bank of Australia waded in with more than $2 billion of unscheduled purchases, while Korea announced buying plans for the next few months. European Central Bank Executive Board member Isabel Schnabel said more stimulus could be added if the surge in yields hurts growth.

Petroleos Mexicanos had its first back-to-back quarterly gains in four years as the weakening of the peso boosted the value of its dollar-denominated crude, Bloomberg News reported. Fourth-quarter net income was 123.2 billion pesos ($5.9 billion), following a profit in the previous quarter and compared with a year-earlier loss of 171.5 billion, Pemex said on Friday. Its currency-related gains more than offset operational losses. Pemex has struggled to reverse 16 years of production declines and meet a government goal to reduce imports of fuel and produce more gasoline domestically.

An agreement on the overhaul of cross-boarder corporate tax rules is within reach by a summer deadline now that Washington has dropped a proposal that could let U.S companies opt out of the future deal, French Finance Minister Bruno Le Maire said on Friday after a meeting with G20 counterparts, Reuters reported. U.S. Treasury Secretary Janet Yellen on Friday told the G20 meeting that Washington was dropping the former Trump administration’s demand for a “safe harbor” clause in talks to reform global taxation rules, which other countries said would make a deal impossible.

As a follow up to its announcement on February 19 that the conditions to drawing the remaining undrawn commitments of the Tranche 2, under the senior secured superpriority multi-tranche debtor in possession term loan facility, had been met and that the company had formally requested such final disbursement, Grupo Aeroméxico, S.A.B. de C.V. announced that it has received such final disbursement in the amount of US$625 million.

Rich countries’ governments borrowed $18 trillion from bond markets in 2020—more than ever before—but their borrowing costs hit a record low, due to a big rise in bond purchases by central banks, as well as a lack of concern about public debt levels among private investors, the Wall Street Journal reported. The jump in government bond sales during the first year of the coronavirus pandemic was almost twice that recorded when the global financial crisis struck, according to data from the Organization for Economic Cooperation and Development research body.

Ferry operator Moby SpA is suing a number of bondholders including Sound Point Capital Management in a New York court, alleging they made unlawful attempts to take control of the firm in a debt dispute, Reuters reported. Moby, which runs routes between the Italian mainland and islands such as Sardinia, says a bondholder group which also includes BlueBay Asset Management, and Cheyne Capital Management, attempted an “egregious tortious interference” to “unlawfully” take control of the company, according to documents filed on February 22. It’s now seeking damages from the funds.

A lawyer for Frontera Holdings LLC, the owner of a natural gas plant near the U.S.-Mexico border, told a judge on Tuesday that it could face fines in Mexico after it was unable to provide electricity for several days due to the brutal winter storm that hit Texas, but that it intends to proceed with its proposed restructuring as planned, Reuters reported. Frontera attorney Matthew Fagen of Kirkland & Ellis told U.S.