Tag: Currency

RUSSIALINK: “NES [New Economic School] rector Ruben Yenikolopov: Negative impact of pandemic might be far greater than just drop in GDP [Excerpt]” – Interfax

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

(Interfax – Aug. 23, 2020) The Russian economy is weathering the trials of the pandemic relatively well so far, with key macro indicators, at any rate, looking better than in many other countries. But statistics can be deceiving. Firstly, they cannot record changes fast enough and, secondly, not all the repercussions for the economy have been felt yet and they […]

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RUSSIALINK: “Russian Ruble Hits 10-Week High on Investor Optimism; The Finance Ministry sold a record volume of government bonds Wednesday, and the government is reportedly mulling increasing foreign currency sales.” – Moscow Times

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

(Moscow Times – themoscowtimes.com – May 21, 2020) The ruble has hit its strongest level in more than two months, pushed higher by investor confidence, renewed appetite for risk and a partial recovery in worldwide oil prices. The ruble was trading at 70.8 against the U.S. dollar Thursday morning – a 12% appreciation since panic on the financial markets in […]

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RUSSIALINK: “OPEC+ Deal Will Help Russia Avoid ‘Market Chaos,’ But Provides Little Support to Embattled Economy” – Moscow Times

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

The production cut will support oil prices and avoid a further ruble crash while the wider economic damage from coronavirus continues to build. (Moscow Times – themoscowtimes.com – Jake Cordell – April 13, 2020) The fresh OPEC+ deal struck between Russia and Saudi Arabia over the weekend will provide little support to the Russian economy, analysts believe. Instead, the deal […]

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Ruble, Oil Prices Tumble Amid Market Chaos After OPEC-Russia Deal Collapses

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

(Article text ©2020 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – March 9, 2020 – article text also appeared at rferl.org/a/ruble-oil-prices-tumble-after-opec-deal-collapses-amid-coronavirus-fears/30476938.html) The Russian ruble fell to a four-year low after oil prices collapsed following a breakup of talks between OPEC leader Saudi Arabia and Moscow. The ruble tumbled on March 9 by more than 7 percent to nearly 74 […]

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RUSSIALINK: “Russian Ruble Least Volatile Since 2015; Macroeconomic stability and a lack of new U.S. sanctions have created a period of calm for the ruble” – Moscow Times

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Nov. 19, 2019) Ruble volatility has fallen to its lowest level in five years, amid a pause in sanctions pressure from the U.S. and more stable macroeconomic policies from the Russian government. The ruble’s implied volatility on the financial markets – a measure of how extreme traders expect swings in the value of the currency […]

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RUSSIALINK: “Russia Has Lost $1 Trillion in Capital Flight Since Fall of U.S.S.R., Says Putin’s Economist. Top politician blames International Monetary Fund for promoting massive capital outflow” – Moscow Times

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

(Moscow Times – themoscowtimes.com – October 25, 2019) Around $1 trillion of capital has been pulled out of Russia since the fall of the U.S.S.R., a close aide to President Vladimir Putin has told world leaders at the Russia-Africa forum in Sochi. Sergei Glazyev, who was a long-time economic adviser to Putin and is now minister in charge of integration […]

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RUSSIALINK: “Russia geared towards borrowing abroad in currencies other than USD in years to come – MinFin” – Interfax

Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

MOSCOW. Sept 19 (Interfax) – The Russian Finance Ministry will be geared towards borrowing abroad in currencies other than the U.S. dollar in the next few years, a ministry official told reporters. “There are questions as to what will happen with borrowing abroad. Naturally we will at first be geared towards reserve currencies outside the dollar zone. There is the […]

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For Russian Economy, August Not April is the Cruelest Month

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

(Paul Goble – Window on Eurasia – Staunton, August 3, 2019) August has begun with yet another decline in the value of the ruble, continuing the trend this summer month set in 1998 with default and continued last year with a decline of eight percent in the ruble’s exchange rate against Western currencies. And the rest of this month this […]

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JRL NEWSWATCH: “Russia and China; Partnership is much better for China than it is for Russia; Just how much better might not become clear for a few years yet” – The Economist

China, Cybersecurity, Economy, Business, Investment, Trade, JRL NewsBlog, Media, Internet, Social Media, Television, United States, U.S.-Russian Relations
Asia Map

“[Compared to Russia,] … China[‘s] economy is six times larger (at purchasing-power parity) … its power is growing … as Russia’s fades. … Russia is evolving into a Chinese tributary. … Russia is still a nuclear-weapons state with a permanent seat on the [UNSC]…. It has modernised its armed forces and, as in Syria, is not afraid to use them. […]

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Interview: Russia Seeks To ‘Capitalize On Opportunities’ In Libya

Economy, Business, Investment, Trade, Mideast, North Africa, Syria, Egypt, Libya
File Photo of Ancient Roman Arch in Libya Framing Minaret and Palm Trees, adapted from image at cia.gov

(Article text ©2019 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Tony Wesolowsky – April 10, 2019 – article text also appeared at rferl.org/a/interview-russia-seeks-to-capitalize-on-opportunities-in-libya/29873341.html) The situation is escalating in Libya, where more than 30 people have been killed since fighting broke out on April 4, when forces loyal to Libyan strongman Khalifa Haftar launched an offensive against the internationally […]

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JRL NEWSWATCH: “Russia’s New Gold Rush Could Shake Up the International Monetary System; Russia and China might be considering a gold-backed digital currency.” – Moscow Times/ Bruno Macaes

Economy, Business, Investment, Trade, JRL NewsBlog
File Photo of Gold Bars with U.S. Government Engravings, adapted from image at fbi.govA

“Russia is buying … [a] lot of gold … quadrupl[ing] reserves [within a decade]. Gold buying last year exceeded mine supply for the first time … Russia is about to become a net importer …. Are the Russian authorities preparing for a renewed clash with the United States … attempting to reduce … vulnerability to … sanctions? Or do they […]

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JRL NEWSWATCH: “Russia’s Effective Military Spending Is Around $200 Billion” – Checkpoint Asia/Richard Connolly

Budget, Economy, Business, Investment, Trade, Military
Russian Mobile ICBM Parade File Photo

“Russia maintains armed forces of around a million … compared with … fewer than 200,000 in the UK. … [and] procures and maintains far larger volumes of equipment across the whole spectrum … including [ICBM’s], nuclear-powered submarines … state-of-the-art helicopters and fighter aircraft. * * * … PPP-based measures … yield a figure of closer to $200 billion …”

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JRL NEWSWATCH: “Russia’s New Shield From U.S. Sanctions: A Siberian Gold Mine; Sukhoi Log, widely seen as one of the world’s largest untapped gold deposits, could give Moscow a bulletproof currency backstop” – Wall Street Journal/ Thomas Grove

Economy, Business, Investment, Trade, JRL NewsBlog, Minerals, Sanctions
Map of Russia and Russian Flag adapted from images at state.gov

“… Tests commissioned by the company last year and undertaken by Australia-based AMC Consultants, along with a scoping study conducted in 2018, determined that there are 63 million ounces of gold at Sukhoi Log, Polyus has told investors. While independent mining analysts haven’t confirmed that estimate on their own, many of them refer to Sukhoi Log as one of the […]

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JRL NEWSWATCH: “Russia faces sharp outflow of private investment; More than $67bn shifted out of the country’s economy last year” – Financial Times/ Henry Foy

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

“More private money left Russia in 2018 than … since the Crimean crisis and oil market rout of 2014 …. Over $67bn … according to the … central bank …. some … attributed to fears over … U.S. sanctions and threats of more actions from Washington …. [ING’s] Dmitry Dolgin … [indicated that when] Russia’s central bank suspended foreign exchange […]

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JRL NEWSWATCH: “Putin Push to Dump Dollar Proves Hard Sell With Russia Inc.” – Bloomberg/ Natasha Doff, Evgenia Pismennaya, Anna Andrianova, Annmarie Hordern, Andrey Biryukov, Anna Baraulina, Ilya Arkhipov, Yuliya Fedorinova

Economy, Business, Investment, Trade, JRL NewsBlog, Sanctions, United States, U.S.-Russian Relations
File Photo of Assorted U.S. Cash, adapted from image at tsa.gov

“Russia’s central bank dumped $101 billion last year in its biggest-ever shift away from the U.S. currency amid fears of new sanctions. But the Kremlin’s drive to wean the rest of the economy off the greenback has been slower going. Despite … Putin’s regular public exhortations to accelerate ‘de-dollarization,’ even the country’s state-owned companies are sticking to the currency. Shifting […]

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JRL NEWSWATCH: “Russia to resume forex purchases after sanctions hiatus; Moscow will spend Rbs265.8bn between next Tuesday and early February” – Financial Times/ Max Seddon

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

“Russia’s finance ministry said it is resuming foreign currency purchases on open markets after fears over U.S. sanctions saw it halt them last year to head off a slide in the rouble rate. … Rbs265.8bn … next Tuesday and February 6, the ministry said in a statement on Friday. … the first since the central bank … stopped them in […]

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JRL NEWSWATCH: “Russian inflation, growth to remain low in 2019 says World Bank” – bne Intellinews

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

“Russian inflation is in focus for 2019 as prices began to rise at the end of 2018 and ended the year slightly above the Central Bank of Russia (CBR) target rate of 4%. … the World Bank says that inflation will remain low this year and growth will be 1.5%, the same as in 2018 …. The U.S. government has […]

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RUSSIALINK: “No rapid de-dollarization, national currency settlements pose certain risks – Kudrin” – Interfax

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
Alexei Kudrin file photo

MOSCOW. Nov 22 (Interfax) – There will be no rapid de-dollarization in settlements which, when conducted in other national currencies, including those of Eurasian Economic Union countries, pose certain currency risks, said Alexei Kudrin, head of the Russian Accounts Chamber. “I’m in favor of a company being able to choose [the currency of settlements], which would be in keeping with […]

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The Biggest Threat To Dollar Dominance

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

(Oilprice.com – Irina Slav – November 12, 2018) Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions for the 2014 annexation of Crimea by Moscow, Reuters reported last week, citing as many as seven industry sources. While it may have come as a surprise to the […]

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JRL NEWSWATCH: “U.S. Sanctions Give Russian Economy an Unintended Boost; For months, rising dollar-denominated oil prices, falling ruble have worked to Moscow’s benefit” – Wall Street Journal/ Avantika Chilkoti

Economy, Business, Investment, Trade, Iran, JRL NewsBlog, Oil, Gas, Energy, Sanctions, Transportation, United States, U.S.-Russian Relations
Oil Well file photo

“U.S. sanctions have driven the price of oil and the ruble apart – leaving Russia with expensive crude and a cheaper currency … helping its economy. The price of oil, Russia’s main export, has risen almost 14% since mid-August. … largely because of the coming resumption of U.S. sanctions against Iran, choking off the supply of crude from that country. […]

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JRL NEWSWATCH: “Levada poll: Russians’ worries close to home” – Bear Market Brief/BMD Russia

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

“… [poll numbers indicate that] Russians are concerned about rising prices (72%), poverty (52%), and unemployment (48%). … the highest August figures since 2013. … a Bank of Russia survey finds … ordinary Russians are expecting higher inflation …. lean years have rendered adventures abroad relatively less important to Russians. … inflationary expectations raise the specter of a key rate […]

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JRL NEWSWATCH: “A thickening web; America’s escalating Russian sanctions; Despite Donald Trump, Russia is being hit harder and harder” – The Economist

Economy, Business, Investment, Trade, JRL NewsBlog, Sanctions, United States, U.S.-Russian Relations
American Flag and Partial View of U.S. Capitol Dome, adapted from image at aoc.gov

“… In August alone, America has slapped penalties on Russian shipping firms accused of trading oil with North Korea; imposed restrictions on the arms trade in connection with the poisoning of … Skripal …; and begun congressional hearings on … legislation designed to punish Russia for its interference in elections. Further Skripal-linked measures may follow in three months’ …. Markets […]

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JRL NEWSWATCH: “Russia’s financial authorities are putting the economy on an ‘economic war’ footing as sanctions bite” – bne Intellinews/Vadim Dumes/Ben Aris

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

“The sanctions[-]based assault on Russia by the U.S. and its expanding sanctions regime is starting to take its toll as the Russian government and financial authorities [are scrambling] to manage the damage … affecting everything from corporate profits to foreign currency reserves. Earlier this month … The Central Bank of Russia (CBR) said it will stop its regular foreign currency purchases […]

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JRL NEWSWATCH: “Turkey Shifts Toward Russia as Sanctions Sour U.S. Relations; Foreign ministers slam Western sanctions, as Erdogan plans boycott of U.S. electronic goods” – Wall Street Journal/David Gauthier-Villars

JRL NewsBlog, Mideast, North Africa, Syria, Egypt, Libya, Sanctions, Syria, Turkey, United States, U.S.-Russian Relations
Turkey and Environs Satellite Image

“… Erdogan … stepped up his attacks on the U.S. … Tuesday, calling for a boycott of Apple … iPhones and other U.S. electronic goods … his foreign minister joined his Russian counterpart … criticizing Western sanctions. Turkey, a longtime [NATO] ally, has been caught between the West and Russia. This week, officials in Ankara were leaning decidedly toward Moscow. […]

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Putin: Russia Looks To Get Free Of U.S. Dollar ‘Burden’ In Oil Trade

Economy, Business, Investment, Trade, Oil, Gas, Energy, United States, U.S.-Russian Relations
Offshore Oil Rig file photo

(Oilprice.com – Tsvetana Paraskova – May 9, 2018) Russia is mulling over ways to ‘get free’ of the U.S. dollar burden in oil trade as part of a plan to boost its national economic sovereignty, Russian President Vladimir Putin said. “Oil is traded in dollars on the exchange,” TASS news agency quoted Putin as saying. “Certainly, we are thinking about […]

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NEWSWATCH: “‘Market Fundamentalism’ Tested as New Economic Storm Hits Russia” – Bloomberg

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

“Russia is gambling that a policy mix born amid its confrontation with the West four years ago is good enough to carry it through an even worse standoff …. allowing its ruble to trade freely  …. that flexible currency provides support for the Russian economy as … Putin faces the fallout of the most punitive U.S. penalties yet and … […]

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Ruble Falls Further, Russian Officials Seek To Calm Nerves

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

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – April 10, 2018 – also appeared at rferl.org/a/russia-ruble-continues-fall-officials-seek-to-calm-nerves/29156379.html) The Russian ruble is falling for a second straight day following the imposition of new U.S. sanctions, while the Central Bank chief and other officials are seeking to calm investors in the wake of a big sell-off in shares of Russian companies […]

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RUSSIALINK TRANSCRIPT: “In Conversation with Dmitry Medvedev: Interview with five television channels” – GovernmentRu

Politics, Government, Protests, Elections
Dmitri Medvedev file photo

(Government.ru – November 30, 2017) The Prime Minister answered questions from TV anchors Valery Fadeyev (Channel One), Sergei Brilyov (Rossiya), Irada Zeinalova (NTV), Igor Poletaev (RBC) and Mikhail Fishman (TV Rain). Excerpts from the transcript: Results of the Government’s performance in the outgoing year and the state of the economy Dmitry Medvedev: Today we can say that the economy has […]

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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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Life After Putin?

Politics, Government, Protests, Elections
Vladimir Putin file photo with VOA logo; screen shot from video still

(Article ©2017 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Brian Whitmore – August 29, 2017 – rferl.org/a/daily-vertical-transcript-life-after-putin/28703034.html) Is Vladimir Putin about to get his very own banknote? Could be. An association of entrepreneurs has recently proposed that the Russian central bank issue a commemorative 10,000-ruble note featuring Putin’s likeness. Now you can read this a couple ways. The simplest, […]

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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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NEWSWATCH: “Russia has not touched its reserves funds this year, but it will. Russia’s gross international reserves have been growing.” – Intellinews/ Ben Aris

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

“Thanks to higher than expected oil prices Russia has not had to touch its rainy day reserves funds so far this year to prop up budget spending. But the ministry of finance says it will have to dip into them in the second half of this year and expects to at least exhaust the $16.5bn National Reserve Fund. …” Click […]

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Fiscal rule already essentially in effect, might be formally introduced in 2018 – Belousov

Budget, Economy, Business, Investment, Trade, Oil, Gas, Energy, Politics, Government, Protests, Elections
Oil Well file photo

MOSCOW. April 17 (Interfax) – The new fiscal rule that restricts Russian budget spending of additional oil and gas revenue is essentially already in effect, and it might be formally introduced in 2018, Kremlin aide Andrei Belousov said. “The fiscal rule comes down to cutting off the level of spending at an oil price of $40 per barrel. We negotiated […]

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Fixing Russia’s Growth for Economists Takes One Ruble at a Time

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

(Bloomberg – bloomberg.com – Olga Tanas, Andre Tartar – April 9, 2017) The ruble’s “serious weakening,” as forecast by Russia’s Economy Ministry, may be seriously good for growth. While the authorities in Russia have wavered this year over the benefits and disadvantages to the economy of a strong exchange rate, analysts are coming down on the side of depreciation. A […]

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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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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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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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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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Cheapest Labor Since Tsars Ruled Russia a Draw for Samsung, Ikea

Economy, Business, Investment, Trade
Truck at Russian Border Crossing

(Bloomberg – bloomberg.com – Olga Tanas, Ilya Khrennikov – November 16, 2016) Made in Russia and coming soon to a store shelf near you: washing machines, chewing gum and possibly much else. A combination of the country’s worst currency crisis since 1998 and an unprecedented slide in real wages for most of the past two years has resulted in salaries […]

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NEWSLINK Business New Europe: “Russian Markets Hit Record High On Trump Optimism”

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

“Russia’s ruble denominated Moscow Interbank Currency Exchange (MICEX) index set a new all time high of 2061.68 on November 10 on the bounce back that followed the election of Donald Trump as US president. Trump is seen as good news for Russia that is fuelling hopes of a de-escalation in tensions between the countries. The previous MICEX high was set […]

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Russia’s Economy at Risk of Delayed Recovery After Crimea Flareup

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

(Bloomberg – bloomberg.com – Andre Tartar, Anna Andrianova – August 28, 2016) The recent flare up over Crimea may have just delayed Russia’s economic recovery. After President Vladimir Putin accused Ukraine of plotting terrorist attacks on the Black Sea peninsula this month, the chance that Western countries will scrap economic sanctions against Russia has declined, according to a Bloomberg survey […]

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Ukraine’s Economy Plummeted By Nearly 10 Percent In 2015

Economy, Business, Investment, Trade, Ukraine
Map of Ukraine, Including Crimea, and Neighbors, Including Russia

(RFE/RL – rferl.org – March 22, 2016) Ukraine’s battered economy shrank by 9.9 percent in 2015 due to implosions in the financial sector and consumer demand, the state statistics service reported on March 21. The stunning fall last year followed a drop of nearly 7 percent in 2014, the year Russia annexed Crimea and Ukraine’s war with Russia-backed separatists broke […]

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As Ruble Nosedives, Russians Are Priced Out Of Live-Saving Western Treatment

Economy, Business, Investment, Trade, Health, Alcohol, Smoking, AIDS, Epidemics, Human Rights
Medical Symbol with Pole, Serpents, Wings, adapted from image at lanl.gov

(RFE/RL – rferl.org – Claire Bigg – February 1, 2016) As the ruble continues its catastrophic tumble, hitting another historic low last month, the pain is being felt keenly across Russia. Among those worst hit are patients in need of urgent surgery abroad or other life-saving treatment billed in foreign currencies. “It all started with a bad cough and a […]

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RBTH: Investors could benefit from Russia’s economic turmoil

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

As the Russian economy hits hard times, with business incomes falling, government spending facing cuts and the ruble losing value, RBTH spoke to Sergei Katyrin, president of Russia’s Chamber of Commerce and Industry, to find out how foreign companies are enduring the current “perfect storm” for business. (Russia Beyond the Headlines – rbth.ru – ILYA KROL, RBTH – January 28, […]

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Facing Oil Price Plunge, Russia Considers Fire Sale of State Companies

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

(Moscow Times – themoscowtimes.com – Peter Hobson – January 22, 2016) Russian officials are touting a new wave of privatization to fill the hole in the government’s finances caused by the slumping oil price. With the cost of crude falling toward $30 per barrel early in the year, Finance Minister Anton Siluanov announced that 1 trillion rubles ($12.5 billion) could […]

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