Russian economy

page 5

Putin enumerates economic performance indicators

Putin enumerates economic performance indicators

Russian President Vladimir Putin enumerated the key indicators of the effectiveness of economic policy. "The key indicators of the effectiveness of economic policy should be the preservation and creation of jobs, the reduction of …

UN trade body lowers global GDP forecast

UN trade body lowers global GDP forecast

The United Nations Conference on Trade and Development (UNCTAD) lowered its global gross domestic product (GDP) forecast for 2022 from 3.6% to 2.6%. In the agency’s new report, world growth estimates were hit by downside risks to …

Russian National Wealth Fund down by $6.8 bln in February

Russian National Wealth Fund down by $6.8 bln in February

Russia’s National Wealth Fund (NWF) decreased by 675.16 bln rubles ($6.8 bln) in February 2022 to around 12.9 trillion rubles ($131 bln) as of March 1, 2022, the Finance Ministry said in a statement. "As of March 1, 2022, the …

Baker Hughes suspends investment in Russia

Baker Hughes suspends investment in Russia

The US oil and gas service company Baker Hughes Company announced the suspension of new investments for its activities in Russia. "Baker Hughes announced the suspension of new investments in its operations in Russia. The company …

Lavrov: Russia open to cooperation with the West

Lavrov: Russia open to cooperation with the West

Russian Foreign Minister Sergey Lavrov said that Russia is open to cooperation with all countries, including Western ones, but in the case of the West, Moscow itself does not intend to put forward initiatives. "Let's see …

No collapse of Russian economy expected, Medvedev says

No collapse of Russian economy expected, Medvedev says

Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev wrote in his Telegram channel that the Russian economy would not suffer from sanctions. According to him, the previously imposed sanctions only benefited …

Bank of Russia keeps its key rate at 20%

Bank of Russia keeps its key rate at 20%

The Bank of Russia at a meeting of the Board of Directors on Friday decided to keep the key rate at 20% per annum after its sharp unscheduled increase on February 28 from 9.5%, the regulator said in a press release. "On …

Fitch downgrades six Russian insurance companies

Fitch downgrades six Russian insurance companies

Fitch Ratings said it has downgraded six Russian insurance companies' insurer financial strength ratings, along with the debt rating of one Russian insurer. The companies are insurance joint stock company VSK, JSC IC Allianz, …

Kremlin: there are no conditions for Russia's default

Kremlin: there are no conditions for Russia's default

There are no conditions for Russia's default as such, unless they are artificially created for the country, Kremlin spokesman Dmitry Peskov told reporters on Friday. "We have already heard statements from our heads of financial …

Why dollar not rising anymore?

Why dollar not rising anymore?

The Russian rouble was little changed in early Moscow trade on Friday, stabilising after heavy losses over the last two weeks, after the central bank further restricted access to foreign currency. At 07:40 GMT, the rouble was 1.4% …

Putin restricts export of certain products and raw materials

Putin restricts export of certain products and raw materials

President Vladimir Putin signed a decree on the application of special economic measures in the field of foreign economic activity. The Russian leader ordered to determine in two days the lists of states where the export of certain …

Moody's suspends commercial activities in Russia

Moody's suspends commercial activities in Russia

The international rating agency Moody's suspended commercial activities in Russia since March 5, the agency’s press release reads. "The suspension applies to both Moody's Investors Service (MIS) and Moody's …

S&P lowered Russian rating to CCC-

S&P lowered Russian rating to CCC-

The international rating agency S&P downgraded the long-term sovereign rating of Russia in foreign currency from BB+ to CCC-and the long-term rating in the national currency from BBB-to CCC-, the rating agency said on its website. …

Fitch downgrades Russia's sovereign rating

Fitch downgrades Russia's sovereign rating

Ratings agencies Fitch and Moody's downgraded Russia by six notches to "junk" status, saying Western sanctions threw into doubt its ability to service debt and would weaken the economy. Fitch downgraded Russia to …

Russia to respond asymmetrically to Western sanctions

Russia to respond asymmetrically to Western sanctions

Russia has always responded symmetrically to Western sanctions, but an asymmetric response is being prepared now. the Secretary of the General Council of the party "United Russia" Andrei Turchak announced this on Tuesday. …

Russia to spend up to $10 bln on buying Russian shares

Russia to spend up to $10 bln on buying Russian shares

The Russian government has ordered the finance ministry to channel up to 1 trillion roubles ($10.3 billion) from the National Wealth Fund to buy shares in Russian companies. The corresponding order was signed by Russian …

Putin signs decree on special economic measures

Putin signs decree on special economic measures

Russian President Vladimir Putin signed a decree that introduces special economic measures regarding unfriendly actions by the US and its allies, and its text was published on the Kremlin website on Monday. The preface says the decree …