Tag: Finance

Interfax: Medvedev: U.S. seeks to oust Russian companies from European market by putting them on different lists

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Dmitri Medvedev file photo

SOCHI. Feb 15 (Interfax) – The United States is seeking to oust Russian companies from European market by including them in different lists, Russian Prime Minister Dmitry Medvedev said. “Why are they doing so? For purely pragmatic reasons, this is because they want to promote their companies to European market, but, saying it straightforwardly, Europe and the U.S. are now […]

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NEWSLINK: “Expansion, Sanctions, and Opposition-Promotion: the West’s Failed Russian Transformation Strategy” – Russian and Eurasian Politics/ Gordon M. Hahn

Europe, EU, Russia & the West, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
File Photo of Kremlin Aerial View, adapted from .gov source

“… The West’s post-Ukraine crisis sanction meanwhile are intended to undermine the regime from above. The hope in Washington and Brussels is that by pressuring state and private oligarchs close to Putin or the Kremlin, some may withdraw their support and seek either to remove Putin in a coup or join the opposition and remove him in a revolution or […]

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Russian parliament moves to extend capital amnesty

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Cash, Calculator, Pen

(Interfax – February 9, 2018) The State Duma, the lower house of Russian parliament, has passed in third and final reading a package of bills extending the existing capital amnesty programme, which was proposed by President Vladimir Putin late in 2017. In December, Putin announced that Russia’s existing programme – aimed at encouraging wealthy Russians holding assets abroad to transfer […]

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Interfax: Ryabkov on countering ‘Kremlin list’: response not to be completely mirrored, Russia not to harm itself

Sanctions, United States, U.S.-Russian Relations
Sergei Ryabkov file photo

MOSCOW. Feb 5 (Interfax) – The political meaning of the ‘Kremlin list’ composed in the United States is Washington’s wish to ‘put pressure’ on Russia, Deputy Foreign Minister Sergei Ryabkov told the newspaper Izvestia in an interview on Monday. “Hence, we are not trying to counter this situation in a completely mirrored way and will not do any harm to […]

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NEWSWATCH: “Why Did the Trump Administration Pass the Buck on Sanctioning Russia?” [excerpt] – Russia Matters/David Szakonyi

Economy, Business, Investment, Trade, JRL NewsBlog, Politics, Government, Protests, Elections, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

David Szakonyi is an assistant professor of political science at George Washington University This week’s highly anticipated news on additional Russia sanctions landed with a thud. For weeks, both Moscow and Washington had been astir about the impending steps the Trump administration would take against Russia based on legislation reluctantly signed by the president nearly six months ago” and overwhelmingly […]

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Interfax: Sovereign debt sanctions may cause brief volatility, no real effect on economy, financial stability – Nabiullina

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
Elvira Nabiullina file photo

ROSTOV-ON-DON. Feb 1 (Interfax) – U.S. sanctions targeting Russian sovereign debt, if introduced, might lead to short-term volatility on the sovereign debt market, but would not have a substantial effect on the economy or financial stability, Central Bank Governor Elvira Nabiullina said. “We saw this risk previously, we see it now. We evaluated it, evaluated the effect of two possible […]

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Investors Take U.S. List Of Russian ‘Oligarchs’ In Stride — For Now

Politics, Government, Protests, Elections
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Carl Schreck – January 30, 2018 – also appeared at rferl.org/a/russia-investors-brush-off-us-treasury-oligarchs-list/29007996.html) For months Russia’s business and political elite were fretting about the planned release of a U.S. list of potential Russian targets for fresh sanctions — including government officials and “oligarchs” purportedly close to the Kremlin. After that unclassified list […]

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Why The List Matters

Sanctions, United States, U.S.-Russian Relations

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Brian Whitmore – January 31, 2018 – also appeared at rferl.org/a/daily-vertical-transcript-why-the-list-matters/29009462.html) So by now we’ve all probably heard the initial reaction to the U.S. Treasury Department’s much-anticipated list of the most influential Russian officials and oligarchs who could be subject to future sanctions. It’s nothing more than a “who’s who” […]

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NEWSLINK: “DC Think Tanks Fail To Deliver Russian ‘Sanctions’ Smackdown, Market Up” – Forbes/ Kenneth Rapoza

Newslinks, Sanctions, United States, U.S.-Russian Relations
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

“… The bulk of the names on the list, including Gazprom CEO Alexei Miller, VTB Bank president Andrey Kostin, and metals tycoon Oleg Deripaska, were all names on ‘black’ and ‘gray’ lists circulating between the State Department and Washington think tanks for months. Treasury said that the appearance on the list does not mean they are banned from traveling to […]

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NEWSLINK: “Washington added every Russian billionaire to its ‘list of oligarchs.’ Does that make sense? Who are these ‘oligarchs’?” – Meduza

Newslinks, Sanctions, United States, U.S.-Russian Relations
File Photo of Two Persons Shaking Hands and Exchanging Cash

“1. What Happened? … 2. Who does Washington consider an “oligarch” in Russia? … 3. But who are “oligarchs” really? It is just very rich business people? … 4. Who are Russia’s oligarchs? Where’d they come from? … 5. Is this the only definition of “oligarchy”? … 6. Does Russia have “oligarchs” today? …”

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Who’s On The List? Russia’s Elite Nervous About New U.S. Sanctions

Economy, Business, Investment, Trade, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Mike Eckel – WASHINGTON – January 15, 2018 – also appeared at https://www.rferl.org/a/russia-sanctions-list-putin-circle-elite-nervous/28976991.html) There’s a chill settling in over Moscow, and it’s not just the arctic temperatures that typically smother the Russian capital in January. As U.S. officials put the finishing touches on new financial and travel sanctions against Russia, […]

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Forcing Repatriation of Funds Won’t Solve Russia’s Economic Problem, Gontmakher Says

Economy, Business, Investment, Trade

(Paul Goble – Window on Eurasia – Staunton, December 28, 2017) Many including some in the Kremlin believe that forcing oligarchs to repatriate the money they have sheltered abroad will go a long way to solve Russia’s economic problems, Yevgeny Gontmakher says; but they are wrong: far more will have to happen for any money returned to make a major […]

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Lucy Komisar: Re: “Developments re Browder”

Politics, Government, Protests, Elections
Kremlin and Saint Basil's File Photo

Subject: Developments re Browder Date: Sat, 30 Dec 2017 From: Lucy Komisar you might be interested in one of these 1 About the new Magnitsky List – Browder targeted a lawyer involved in the $230 million tax refund fraud ten years ago who he had ignored since then. the man was put on the list exactly 2 months after he […]

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Central Banker Named Putin Heir in Doomsday Prediction

Politics, Government, Protests, Elections
Elvira Nabiullina file photo

(Moscow Times – themoscowtimes.com – December 19, 2017) President Vladimir Putin will continue to rule behind the scenes after installing the current Central Bank chairwoman as his proxy, the Bloomberg news agency predicted in its annual worst-case scenario guide on Monday. Putin, who announced plans to seek a fourth term this month, is widely expected to win the 2018 presidential […]

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Debt and poverty: the thriving business of high-risk moneylenders in Russia; In Russia, loansharks and payday lenders masquerade as “microfinance” organisations to attract clients. But for many people, short-term loans are a way of life.

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Cash, Calculator, Pen

(opendemocracy.net – Ewa Dabrowska – December 12, 2017) Ewa Dąbrowska is PhD researcher at the University of Amsterdam. She focuses on the Russian financial system and microfinance in the post-Soviet space. “Avoid multiple loans. With several loans you are at greater risk of over-indebtedness,” warns the Warsaw-based Microfinance Center in a recent education campaign directed at users of microcredits in […]

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NEWSWATCH: “I’m ‘sick and tired’ of how U.S. views Russia, says CEO of Russia’s second-largest bank” –  CNBC/ Silvia Amaro

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
VTB Bank File Photo

“… The tense issue of Russian meddling in the election has dragged on. Putin warned last week that U.S. media companies could be restricted when operating in Russia after calls from American lawmakers to limit Russian outlets, namely RT and Sputnik, for their involvement in the 2016 presidential election. … Click here for: “I’m ‘sick and tired’ of how U.S. […]

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NEWSLINK: “Russia’s CBR gets tough on banks, demands they reveal owners’ identities” – bne Intellinews

Economy, Business, Investment, Trade, Newslinks, Politics, Government, Protests, Elections
Central Bank of Russia file photo

“The Central Bank of Russia (CBR) will demand that all of Russia’s banks fully disclose the identities of their owners from the start of 2018, Kommersant daily reported on September 11 citing the draft order prepared by the regulator. …”

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Business community expects economic reforms in Russia after presidential vote – Gref

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Sberbank File Photo

MOSCOW. Sept 7 (Interfax) – The business community expects that Russia may begin extensive economic reforms after next year’s presidential elections and the preparatory stage is now underway, Sberbank of Russia (MOEX: SBER) CEO Herman Gref said in an interview on NTV television. “The expectations of business and, in general, the entire country is that such an extensive reform process, […]

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Central Bank analysts lower Russian GDP growth forecast in Q3-Q4 on weak industrial production data

Economy, Business, Investment, Trade
Central Bank of Russia file photo

MOSCOW. Sept 6 (Interfax) – Central Bank analysts have lowered their forecast for Russian GDP growth in Q3 from 0.6% to 0.4%-0.5% on a quarterly basis excluding seasonality, the Central Bank’s Research and Forecasting Department said in its bulletin Talking Trends. The estimate for October-December 2017 was also lowered from 0.6% to 0.4%. “The main sources of the downward revision […]

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Lame-Duck Putinism

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Putin at Desk

(Article ©2017 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org Brian Whitmore – September 1, 2017 – also appeared at rferl.org/a/lame-duck-putinism/28709290.html) An association of “patriotic entrepreneurs” is proposing that the Russian central bank issue a new 10,000 ruble banknote featuring Vladimir Putin’s likeness. Now you can read that a couple ways. The simplest, of course, is that it’s nothing more than […]

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Russia Offers Emergency Bank Aid to Prevent Otkritie Contagion

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Central Bank of Russia file photo

(Bloomberg – bloomberg.com – Jake Rudnitsky, Anna Baraulina – August 30, 2017) Russia’s central bank moved to contain a slow-motion banking crisis, offering support to other lenders after announcing the takeover of the largest institution yet. Bank Otkritie FC, Russia’s biggest private lender a month ago, is the first bank to be taken over by a fund created so that […]

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Putin’s New Favorite Official Plans Ministry of Future to Revamp Economy

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Kremlin Aerial View, adapted from .gov source

(Bloomberg – bloomberg.com – Evgenia Pismennaya, Andrey Biryukov, Ilya Arkhipov – August 25, 2017) The odds were against Maxim Oreshkin. With only three years of government experience when President Vladimir Putin picked him to lead Russia’s Economy Ministry late in 2016, Oreshkin was considered a political lightweight. He got a ministry at risk of being taken over by the more […]

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A Month After Tighter Sanctions, Russia Risk Drops to a Four-Year Low

Economy, Business, Investment, Trade, Sanctions
File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Bloomberg – bloomberg.com – Natasha Doff, Ksenia Galouchko – August 24, 2017) [Text with charts: bloomberg.com/news/articles/2017-08-24/month-after-sanctions-storm-russia-risk-drops-to-four-year-low] Less than a month after the U.S. toughened its main sanctions against Russia, a measure of the country’s political risk is back to its lowest level in four years. The cost of insuring Russian debt against default for five years using credit-default swaps dropped […]

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Big Data Convert Channels Big Brother to Take Russia’s Pulse

Cybersecurity, Economy, Business, Investment, Trade, Human Rights, Media, Internet, Social Media, Television, Politics, Government, Protests, Elections, Spies, Spy Allegations
Central Bank of Russia file photo

(Bloomberg – bloomberg.com – Anna Andrianova – August 22, 2017) Raw numbers no longer cut it for Russia’s central bank in its effort to keep up with the economy. Instead, the man running its research and forecasting wants to know how Russians really feel by mining “big data,” gathered from social media and online stores. The Bank of Russia has […]

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Russia Braces for Permanent Sanctions From the U.S.; Moscow was hopeful Trump would loosen sanctions. Instead, he made them permanent.

Economy, Business, Investment, Trade, Sanctions, United States, U.S.-Russian Relations
Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

(Bloomberg – bloomberg.com – Henry Meyer, Anna Andrianova – August 8, 2017) Andrey Kostin, a former Soviet diplomat in London who runs Russia’s second-largest bank, was jubilant when Donald Trump was elected last year. “We may soon see U.S. financial sanctions eased or even lifted,” he said at the time. Now, he’s changed his tune as his state-run VTB Group, […]

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Why Russia’s Market Is Rising After Sanctions Bill Approval

Economy, Business, Investment, Trade, Sanctions, United States, U.S.-Russian Relations
Cash, Calculator, Pen

(Bloomberg – bloomberg.com – Ksenia Galouchko – July 27, 2017) The U.S. House has approved a bill hardening sanctions against Russia, but European resistance to some of its toughest new measures means the impact on companies will be muted, according to Goldman Sachs Group Inc. and Deutsche Bank AG. As it stands now, the most negative aspect of the bill […]

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Government policy measures could reduce price volatility, inflation expectations – CBR chief

Economy, Business, Investment, Trade
Elvira Nabiullina file photo

ST. PETERSBURG. July 13 (Interfax) – Government policy regarding the development of infrastructure, logistics and competition on food markets, as well as tariff regulation could help to reduce the volatility of prices and lower inflation expectations, Central Bank chief Elvira Nabiullina said at the International Financial Congress. “We need to fight not only with the consequences of shocks for inflation, […]

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Article by Vladimir Putin published in the German business newspaper Handelsblatt (re G20)

Economy, Business, Investment, Trade, Environment, Foreign Policy, Security, Visas
Map of Germany

(Kremlin.ru – July 6, 2017) Ahead of my trip to Germany to take part in the Summit of the Group of Twenty, I would like to share some thoughts about cooperation within the G20 framework with the readers of Handelsblatt, one of the most popular and reputable German newspapers. Over the years of its existence, the Group of Twenty has […]

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Bondholder’s Dream Beckons as ‘Japanification’ Sweeps Russia

Economy, Business, Investment, Trade
Central Bank of Russia file photo

(Bloomberg – bloomberg.com – June 28, 2017 – Anna Andrianova) From the bondholder’s perspective, Russia has a lot in common with Japan and Italy. That’s a good thing, mostly. An aging population more prone to saving, combined with a “strongly conservative” economy, offer the best mix for fixed-income investors, according to Renaissance Capital. While poor demographics will haunt Russia’s growth […]

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TRANSCRIPT: [Medvedev:] Government report on its performance in 2016. (transcript continued)

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Dmitri Medvedev file photo

(Government.ru – April 19, 2017) State Duma of the Federal Assembly, Moscow Excerpts from the transcript: Dmitry Medvedev: Already in the fourth quarter of 2016, the economy showed a small increase of 0.3 percent. As of late 2016, we had a major slowdown in the decline of GDP compared to a fall of almost 3 percent in 2015. Such figures […]

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TRANSCRIPT: [Putin at] State Council Presidium meeting on national consumer rights protection system

Politics, Government, Protests, Elections
Kremlin and River

(Kremlin.ru – April 18, 2017) Vladimir Putin chaired a State Council Presidium meeting on the national consumer rights protection system. At a State Council Presidium meeting on national consumer rights protection system. Meeting participants discussed the effectiveness of the national consumer rights protection system and the state consumer rights protection strategy to 2030. President of Russia Vladimir Putin: Good afternoon, […]

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Putin Nominates Bank of Russia Head Nabiullina for New Term

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Elvira Nabiullina file photo

(Bloomberg – bloomberg.com – Olga Tanas, Stepan Kravchenko – March 22, 2017) Russian President Vladimir #Putin told Bank of #Russia Governor Elvira Nabiullina he plans to nominate her for a new 5-year term, praising her stewardship of the central bank as the country emerges from the longest recession this century. “The central bank under your leadership has done a #great […]

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NEWSLINK: “Russian corporate governance comes in from the ‘Caveman era'” – bne Intellinews/Jason Corcoran

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Newslinks, Politics, Government, Protests, Elections

“Russia’s new corporate governance code … in place for two years, is being increasingly adhered to, according to market participants. Other reforms undertaken by the Moscow Exchange – as well as an increase in domestic liquidity – is accelerating the trend for more companies to list in the Russian capital rather than in London. …” [featured image is file photo, […]

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NEWSWATCH: “Russia pushes to rid itself of ‘Potemkin’ banks by 2019” – Reuters/Alexander Winning, Andrey Ostroukh

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, JRL NewsBlog, Politics, Government, Protests, Elections

“Russia plans to extend a review of bank licenses for another two years, shutting down scores more banks after closing hundreds in the past four years, mostly for committing fraud or other crimes …. Vasily Pozdyshev, a deputy governor at Russia’s central bank, says … his team is still finding more propping up criminal activity and would need until 2019 …. […]

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NEWSWATCH: “The fate of Russian stocks hinges on politics and oil” – CNBC/Rebecca Ungarino

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions
File Photo of Outdoor Electronic Sign with Russian Exchange Data

“… The Moscow composite index is down nearly 8 percent year to date, underperforming the U.S. by nearly 15 percent as optimism around the possibility of the removal of trade sanctions against Russia fades. And crude oil, which weighs heavily on the Russian economy, has traded in a narrow range so far this year, offering no help to Russian stocks. […]

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TRANSCRIPT: [Putin] Meeting with CEO of Sberbank German Gref

Politics, Government, Protests, Elections
File Photo of German Gref Shaking Hands with U.S. Official

(Kremlin.ru – February 23, 2017) Sberbank CEO and Chairman of the Board German Gref briefed Vladimir Putin on the bank’s 2016 performance results and its current activities, including the prospects for developing mortgage lending, and new financial support mechanisms for the defence industry and agricultural sector businesses. President of Russia Vladimir Putin: Mr Gref, concerning the bank’s performance, we know […]

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NEWSLINK: “Russian real disposable income up for first time since 2014 on pension payout” – bne Intellinews

Economy, Business, Investment, Trade, Newslinks
Diverse Paper Currency, Coins, Line Graph

“Rosstat recorded the first rise in Russian real disposable income in January since October 2014. However, Rosstat went on to say that the bump was caused by a one-time payment to pensioners of RUB5000 (€81.69) in lieu of indexing their pensions at above the rate of inflation. …”

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Half of Russia Still in Crisis Prepares for Worse to Come

Economy, Business, Investment, Trade
Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Olga Tanas – February 20, 2017) The half of Russia’s economy that hasn’t got wind of a recovery is already hunkering down for the crisis to come. Once indispensable for the country’s prospects, consumption flat-lined well below zero throughout last year even as the broader economy defied gloom. From the ruble to industrial output and wages, […]

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Interfax: Moody’s upgrades Russia rating outlook to stable

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

MOSCOW. Feb 20 (Interfax) – Moody’s Investors Service has changed the outlook for Russia’s sovereign ratings to stable from negative. Russia’s issuer rating and the rating for Russian government bonds have been affirmed at Ba1, and the short-term rating has been affirmed at Not Prime, the rating agency said in a press release. Finance Minister Anton Siluanov welcomed Moody’s decision. […]

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NEWSWATCH: “Russia’s economy grows at $40 per barrel oil; Russia’s Central Bank last week said appetite was low for an increase in lending rates” – UPI/Daniel J. Graeber

Economy, Business, Investment, Trade, JRL NewsBlog, Oil, Gas, Energy
Elvira Nabiullina file photo

The Russian economy will be on the positive side of growth even if the price of crude oil falls to $40 per barrel … [Central Bank Gov. Elvira Nabiullina] said. … The number of economic sectors expected to expand this year is not much greater than those in contraction, but losers are outnumbered. Much … depends on the price of […]

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Moscow Doesn’t Expect Trump to End Sanctions All at Once but ‘Cleverly’ Over Time, Markov Says

Economy, Business, Investment, Trade, Sanctions, United States, U.S.-Russian Relations
File Photo of Donald Trump Waving Before Large Crowd with Trump Signs, adapted from image at whitehouse.gov

(Paul Goble – Window on Eurasia – Staunton, February 3, 2017) “Russophobia is so deeply rooted in European-American ideology,” Sergey Markov says, that Moscow doesn’t expect new US President Donald Trump to end all sanctions all at once but rather “in a clever fashion” that avoids problems for him and over a significant period of time. The words of Markov, […]

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RUSSIALINK RBTH: “Index of fear: What are Russians most afraid of?”

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Politics, Government, Protests, Elections
Map of Russia and Russian Flag adapted from images at state.gov

Most Russians polled are afraid of war and international conflicts, but the number decreased to 14 points in December compared to 23 points in January 2016. (Russia Beyond the Headlines – rbth.ru – January 30, 2017) Russians’ main fears remain the threat of war and inflation, while family troubles are the least worry. These findings are the results of a […]

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NEWSWATCH: “Rouble’s revival gives Russia an unexpected headache” – AFP

Economy, Business, Investment, Trade, JRL NewsBlog
Diverse Paper Currency, Coins, Line Graph

It was a step that seemed unimaginable a year ago: the Russian authorities stepping in to stop the country’s currency from getting too strong. … The finance ministry said Putin himself had decided that the surplus oil revenue would not be used for ‘additional spending’ but would go towards buying foreign currencies to bolster the country’s depleted reserve funds. … […]

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NEWSLINK: “Russia Survived Sanctions, And BlackRock Goes Overweight” – Forbes.com/Kenneth Rapoza

Economy, Business, Investment, Trade, Newslinks, Oil, Gas, Energy, Sanctions
Diverse Paper Currency, Coins, Line Graph

“… Russian oil and gas companies, along with its biggest banks, were sanctioned in the summer of 2014 following the March annexation of Crimea, a Black Sea peninsula in southeastern Ukraine. Tension between the West and Russia increased that year as a new, U.S. backed government led by Arsesniy Yatsenyuk took hold in Kiev, sending Moscow into panic mode. Russia […]

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De-dollarization of economy, banking system proceeding at full speed, to continue – Central Bank

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

MOSCOW. Jan 24 (Interfax) – De-dollarization of the #Russian economy and #banking system is proceeding at full speed given the preferences of the public and companies and this process will continue, the head of the Central Bank of #Russia’s research and forecasting department Alexander #Morozov said at a roundtable in the State #Duma. “De-dollarization in the economy is proceeding at […]

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Russia Locks In on What’s Wrong With Ruble During Oil Frenzy

Economy, Business, Investment, Trade, Oil, Gas, Energy
Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Anna Andrianova – January 23, 2017) Untethering the #ruble helped #Russia ride out the biggest #oil downturn in a generation. But it’s left the world’s biggest energy exporter vulnerable to greater volatility in crude prices as #OPEC pushes output cuts. To address that, the Bank of Russia is preparing to wade back into the currency market […]

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Russian Central Bank Chief Nabiullina Named European Banker of the Year

Britain, UK, United Kingdom, Economy, Business, Investment, Trade
Elvira Nabiullina file photo

(Moscow Times – themoscowtimes.com – January 4, 2017) The British finance journal The Banker has named Russian Central Bank Head Elvira Nabiullina as the European Central Bank Chairman of the year. The journal highlighted Nabiullina’s success in controlling Russia’s inflation rate. “The efforts of the Central Bank head has led to the fact that the rate of inflation by the […]

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Dollar Falls to Under 60 Rubles for the First Time Since July 2015

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – January 5, 2017) As most Russians enjoy a week-long holiday vacation, the country’s ailing currency is also having a happy new year. Today, during trading on the Moscow Stock Exchange, the U.S. Dollar’s value fell to less than 60 rubles for the first time since 2015, the RBC newspaper reported. At 2:19 p.m. Moscow time, […]

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