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Moody’s has lowered the ratings of Russia’s Sberbank, VTB, Gazprombank, Rosselkhozbank, Agency for Housing Mortgage Lending, VEB and Alfa-Bank, Gazeta.ru reports.Moody’s lowered the credit rating of Russia to Ba1 speculative grade.
Russian Prime Minister Dmitry Medvedev will present an anti-crisis plan to President Vladimir Putin. The document composed by the Ministry for Economic Development consists of 101 provisions and will cost the government a whopping sum of 2 trillion rubles. It will be the final version of the plan for sustainable development of the economy and social stability in 2015.
Experts noted a high degree of tolerance of citizens of the RF to the weakening of the ruble
Moody's ratings agency has shifted Russia's government bond rating to Baa3/Prime 3 from Baa2/Prime 2, the agency has said in a statement. Moody's said it also “lowered Russia's country ceilings for foreign currency debt to Baa3/Prime 3 from Baa2/Prime 2.
Sberbank,Rosselkhozbank, Gazprombank, Vnesheconombank and another 26 Russian financial institutions, as well as their subsidiaries, lost today in the long-term issuer default rating in foreign currency by decision of the international rating agency Fitch, after cutting Russia's sovereign rating to BBB-, one notch above junk status.
Russia today is top news in the New York Times.
Russia today is top news in the New York Times. The top article is called “Russia to Support Some Top Banks Through Sale of Treasury Bonds: Finance Ministry”
The world press on events in Moscow, Istanbul and Tehran
The ruble will soon strengthen its positions, and its collapse in the current week to historic lows was speculative, Russian Finance Minister Anton Siluanov said today.
The Russian Central Bank admitted that sectoral sanctions imposed by the U.S. and the EU had a “limited negative” impact on Russian banks. The Central Bank explained that restrictions to access to foreign financial market caused rising …
Washington warned Yerevan about possible risks of cooperation with Russia
The Zhamanak newspaper reports that the situation on the Armenian-Azerbaijani line of contact did not escalate unexpectedly for Armenia. According to the press, shipments of weapons worth $4 billion to Armenia were the motive for Azerbaijan to augment tensions. The Aykakan Zhamanak newspaper says that Azerbaijan is trying to convince residents of Armenian villages that Armenia cannot protect them by spending tens of thousands of euros on shelling them.
According to EU sanctions against Russia coming into force today, access of Russian banks to European funds, imports of European oil equipment to Russia, mutual trade of weapons and sales of dual-use goods have been restricted. The efficiency of the sanctions will be evaluated on October 1. The EU has not developed a penalty system for violating the sanctions.
The United States has imposed additional sanctions on Russia in response to Russia's policy towards Ukraine. The new round of sanctions concerns such state-run companies as Rosneft, Gazprombank, Vneshekonombank and several others, as well as some individuals.
US senators Richard Blumenthal (Connecticut), Jeanne Shaheen (New Hampshire), John Cornyn (Texas) and Kelly Ayotte (New Hampshire) signed a letter to US Secretary of the Treasury Jacob Lew to pass sanctions against Russian banks VTB, VEB and Gazprombank for cooperating with Syria and violating US, EU and UN sanctions, Trend reports.VEB helps Syria transfer payments for S-300 systems, VTB keeps President Assad’s accounts and Gazprombank helps make payments for oil, the senators say.
Grim comments by Russian experts
The Audit Chamber checks “Resorts of the North Caucasus”
Few notes about the political style of Georgian President
