Yuri Yudenkov

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Russia's economy minister announces New Year microcrisis

Russia's economy minister announces New Year microcrisis

The beginning of 2019 will be a challenging period for Russia's economy because of external and internal factors, Russian Minister of Economic Development Maxim Oreshkin said.  "We have the whole range of …

Oreshkin: Russia-Europe relations experiencing renaissance

Oreshkin: Russia-Europe relations experiencing renaissance

Relations between Russia and Europe are undergoing a renaissance, Russian Economic Development Minister Maxim Oreshkin said at a meeting with representatives of the Association of European Businesses (AEB). He …

Russia's actions to reduce dependence on dollar

Russia's actions to reduce dependence on dollar

Russian Finance Minister Anton Siluanov detailed the actions taken by the government to reduce Russian economy's dependence on the dollar. Siluanov noted that European companies are considering the idea of …

Russia not to ban dollar use

Russia not to ban dollar use

Russia’s government doesn't plan to restrict dollar usage in the country, but intends to approve a plan to reduce dollar usage, as the Kremlin steps up efforts to cut dependence on the U.S. currency amid fears of new U.S. sanctions. …

"Russia able to withstand one more economic crisis"

"Russia able to withstand one more economic crisis"

Russia’s National Wealth Fund (NWF) will be able to withstand one more economic crisis amounting to the crisis of 2014, head of the Accounts Chamber and initiator of the Reserve Fund Alexey Kudrin said. "In …

Will dollar be rejected as global currency?

Will dollar be rejected as global currency?

U.S. actions have provoked a number of countries to switch towards trading in national currencies, and Turkey is actively discussing it with Russia, China and other countries," Turkish President Recep Tayyip Erdogan’s …

US 'anti-Trump' sanctions against Russia revealed

US 'anti-Trump' sanctions against Russia revealed

The Defending American Security from Kremlin Aggression Act of 2018 (DASKAA), aimed at increasing economic, political and diplomatic pressure on Russia in response to Moscow’s alleged continuing interference in US elections, proposes …

 Russia's central bank extends key rate pause

Russia's central bank extends key rate pause

The Board of Directors of the Russian Central Bank has kept the key rate at the level of 7.25% today again. It was the third consecutive board meeting the bank had decided to hold the key rate, citing risks of higher inflation. …

EU and China announce WTO reform

EU and China announce WTO reform

European Council president Donald Tusk has called for reform of the World Trade Organization, including new rules on industrial subsidies and intellectual property rights, as Europe tries to form a common front with China against …

Russia to open Russky and Oktyabrsky offshore zones in autumn

Russia to open Russky and Oktyabrsky offshore zones in autumn

This autumn special administrative regions (SAR) will be opened on Russky island in Vladivostok and Oktyabrsky island in the Kaliningrad region, where a special tax regime for offshore companies will be introduced, the head of …

Russians owe banks 13.5 trillion rubles

Russians owe banks 13.5 trillion rubles

Russian total banking debt volume increased by 26% from the beginning of this year to 13.49 trillion rubles, according to the National Rating Agency (NRA). The agency said that in the period from January to May the banks' total …

Russia's VAT hike to 20% to increase inflation by 1%

Russia's VAT hike to 20% to increase inflation by 1%

Russia's current inflation is 2.5%, the VAT hike from 18% to 20% will increase inflation by 1%, Russian Central Bank Governor Elvira Nabiullina told the state Duma. She said that inflation in Russia …

 Russian financial system stabilizes

Russian financial system stabilizes

Russia's financial system is much more stable than 10 years ago, Russian Central Bank Governor Elvira Nabiullina told a banking congress in St Petersburg. At the same time she noted that some government measures may …

Russia’s Central Bank pauses key rate cuts

Russia’s Central Bank pauses key rate cuts

The Board of Directors of the Russian Central Bank decided to keep the key rate at 7.25% per annum, based on the results of its meeting today. "Annual inflation remains low. The April weakening in the ruble against the backdrop of …

48t World Economic Forum opens in Davos

48t World Economic Forum opens in Davos

The 48th World Economic Forum kicks off in Davos today. It will be held amid the most impressive global economic growth over the past ten years and a positive outlook. The forum this year will be visited by a record number of political …

9th Gaidar Forum starts in Moscow

9th Gaidar Forum starts in Moscow

Today, the 9th Gaidar Forum started at the Russian Presidential Academy of National Economy and Public Administration in Moscow, it will last until 18 January. The key theme of the forum  - 'Russia and the World: goals and …

 Russia to purchase record volume of dollars

Russia to purchase record volume of dollars

Russia's finance ministry said it will increase its daily purchases of foreign currency for state reserves to the equivalent of 15.1 billion rubles ($265.10 million) between January 15 and February 6. Total purchases for the …