Russia’s fuel market situation remains tough, given summer peak demand and unscheduled oil refinery repairs, Russia's Deputy Prime Minister Alexander Novak at a meeting at the government's situation center.
The US dollar has risen to its highest level against the ruble since April, trading near 80 rubles.
Contrary to many expectations, the ruble has been trading within an established range of 75-85 rubles per U.S. dollar, Director of the Monetary Policy Department at the Bank of Russia Andrey Gangan said during the Bank of Russia's Financial Congress.
Russia is convinced that the aggravation of the situation in the Middle East will not change the attitude of partners to the launch of the North-South International Transport Corridor (ITC), Russian Foreign Ministry Spokeswoman Maria Zakharova said.
The Russian economy is already overcooled, it is necessary to lower the key rate, chairman of Sberbank's board of directors Herman Gref said at the annual meeting of Sberbank's shareholders.
The latest meeting on the fuel market situation held by Russia's Deputy Prime Minister Alexander Novak focused on organizing fuel supplies within the framework of northern deliveries, the government's press service said.
Volatility in the oil markets is affecting the Russian economy, but its stability is ensured, the Russian president's spokesman Dmitry Peskov said.
Russia' Deputy Prime Minister Alexander Novak instructed officials to prepare a balanced action plan for fuel supply in its domestic market.
Today's meeting of the Bank of Russia's Board of Directors concluded with a decision to bring the key rate down to 14.25%.
Russia has increased the volume of imports from ASEAN countries by 70% over the past decade, Russian Economic Development Minister Maxim Reshetnikov said at the plenary session of the Russia-ASEAN Business Forum.
Moscow and Tehran are ready to complete the integration of their payment systems
Measures taken by the Russian government deliver the planned result and the situation in the economy is under control, Russian President Vladimir Putin said at the meeting with the government.
According to Russia's Prime Minister, a new investment phase for the national economy will launch next year, and that the economy must transition to sustainable growth.
Restoration of the 36 most damaged facilities will cost the Russian government's reserve fund nearly 2,06 bln rubles
It is difficult to determine the damage yet due to ongoing heavy rains
The European Commission raised its forecast for Russia’s GDP growth in 2026 from 1.1% to 1.3%, according to the EC’s spring economic forecast.
Russia’s international reserves increased by $13.5 bln in one week to $771 bln as of May 8, 2026, the Russian Central Bank reported.
The dollar exchange rate fell sharply on 13 May, dropping below 73 rubles to 72.975 - its lowest level in three years.
The conflict in the Middle East remains the factor of uncertainty and will lead to inflation acceleration globally under the base case forecast of the Bank of Russia, Central Bank chief Elvira Nabiullina said at the press conference after the Board meeting.
Russia's Central Bank has reduced its key rate by 50 basis points to 14.5% per annum, the regulator stated in a press release following its board of directors meeting.
