First victim of new sanctions: Deripaska quits Rusal
Oleg Deripaska has stepped down from his role as Russia's aluminum producer Rusal, the company said in a statement released today via the Hong Kong stock exchange. …
Anatoly Aksakov
page 3
Russia passes law on counter-sanctions
Russia’s State Duma has passed the final third reading of a law on counter-sanctions against the US and other unfriendly states. The law stipulates that the Russian president may provide the government with the right to impose …
State Duma on introducing Russia's Mir payment system in Iran
Russia's Mir payment system may start functioning in Iran by the end of this year, the chairman of the Russian State Duma Committee on Financial Markets Anatoly Aksakov said. "Iranian and [Russian] Markets are …
Russia to up daily foreign currency purchases to record high
Russia's Finance Ministry said it would increase its daily purchases of foreign currency for state reserves to the equivalent of 15.7 billion rubles ($277.39 million) between February 7 and March 6, a record high. According to the …
Banks' profits to be record in post-crisis Russia
Russia's banking system would likely hit record profits next year, the main Sberbank analyst Mikhail Matovnikov said. According to him, Russian banks's profits would have reached 1.5 trillion rubles …
US preparing 'black swan' for Russian sovereign debt
Extended US sanctions on Russia that cause foreign investors to pull out of its bond markets is a potential 'black swan' for 2018 that could trigger big ruble falls, Bank of America Merrill Lynch (BAML) said in a note. BAML …
Russia's inflation reaches critically low level
Russia's annual inflation reached 2.5-2.6%, the head of the Russian Ministry of Finance Anton Siluanov said, speaking at the Financial University forum. "Our inflation is quite low - 2.5-2.6% (in annual …
US to impose sanctions against Russia and its partners
The law on new sanctions imposed by the US against Russia obliges the US authorities to ensure that Russian citizens and those companies that are already under sanctions do not receive assistance from foreign citizens and companies. As …
Russian Central Bank considers capital sanctions for crisis times
Russia's Finance Ministry and the country's Central Bank plan to discuss a mechanism to introduce capital controls in the event of a severe crisis, the country's Deputy Finance Minister Vladimir Kolychev …
Budget-2018 does not provide for radical economic change
However, this is the budget of stability and progressive economic development
Russia's authorities concerned about too low inflation
Russia's annual inflation this month will be below 3%, which, however, can ot be assessed as a positive phenomenon in terms of deviation from the Central Bank's goal of 4%, the head of the Russian Ministry of Economic Development …
Does rehabilitation of failing banks become their own business?
Russia's State Duma plans to draft a law, which obliges bank owners to be answerable for obligations with their property not only in case of bankruptcies, but in cases of recovery procedures as well. Chairman of the State …
Why did Russia’s rating grow?
According to Reuters, ratings agency Fitch revised its outlook on Russia’s long-term foreign- and local-currency issuer default ratings to positive from stable. Fitch, which also affirmed Russia’s rating at “BBB-”, said …
BRICS gains economic independence
On Monday, September 4, during the summit in the Chinese city of Xiamen, BRICS countries adopted a joint declaration, in which they agreed to take a number of economic measures. In particular, heads of BRICS states decided to create a bond fund …
VEB and RosEvroBank join Association of Regional Banks of Russia
The Board of the Association of Regional Banks of Russia (the ‘Russia’ Association) has decided to accept Vnesheconombank (VEB) and RosEvroBank. The relevant information appeared in the press release of the association. A week before, …
Russia's Economic Development Ministry expects stable ruble
Russia's Economic Development Minister Maxim Oreshkin expects that the ruble exchange rate will remain stable in the coming months. "The factors that influenced the ruble in the first half of the year are no …
Russian banks hit record profits
The Russian banking sector's profits in the first half of this year exceeded 750 billion rubles, which is a historic high for the Russian Federation, according to the Bank of Russia's information and analytical material for the …
G20 summit kicks off in Hamburg
The two-day G20 summit started in Hamburg on Friday. Germany took over the presidency from China on Dec. 1, 2016. The main topics will be economic and financial policy, climate, trade, employment and development. Migration and refugee …
Oil breaks the ruble
Russian national currency rate began to drop today following cheap oil prices, which dropped to $47.2 per barrel. The dollar rose to 58 rubles, while the European currency exceeded psychological mark of 65 rubles for the first time since February …
Russian economy wants dollar to be cheap
According to a survey conducted by the Gaidar Institute among heads of Russian industrial enterprises in March, 52 rubles per dollar is the exchange rate of the national currency, which is optimal for the Russian industry. …
