Head of the Russian Direct Investment Fund (RDIF) and special presidential envoy for economic cooperation with foreign countries Kirill Dmitriev argued that continued energy and economic cooperation between Russia and the United States will bring global benefits.
The global economy has weathered the energy shock caused by shipping disruptions in the Strait of Hormuz better than feared, though the crisis is not yet over, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said.
The number of vessels crossing the Strait of Hormuz on August 20 fell by half compared with the previous day. Only seven vessels carrying commodities passed through the waterway amid growing concerns over risks to shipping in the Middle East, Reuters reported, citing analytics firm Kpler.
The price of gold futures for December delivery on the Comex exchange exceeded $4,600 per troy ounce for the first time since May 29, 2026, according to trading data.
The International Energy Agency (IEA) forecasts a 1.6 million barrels per day (bpd) decline in global oil demand in 2026 amid the ongoing closure of the Strait of Hormuz and high oil prices, which are curbing consumption, the agency said.
The Iran conflict is crushing the global economy, Turkish President Recep Tayyip Erdogan said.
Oil production in OPEC countries dropped in April 2026 by 420,000 barrels per day to a 36-year minimum, Bloomberg reported.
The global aviation crisis caused by rising fuel prices and escalating tensions on the energy market is a precursor to more serious disruptions in other sectors, Russian Presidential Special Representative for Investment and Economic Cooperation with Foreign Countries and CEO of the Russian Direct Investment Fund Kirill Dmitriev said.
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.
The 13th Global Baku Forum, themed “Bridging Divides in a World in Transition,” began at the Gulustan Palace in Baku under the patronage of President of Azerbaijan Ilham Aliyev and organized by the Nizami Ganjavi International Center.
The share of the United States and other Western countries in the global economy is declining, with the dollar's monopoly eroding, Russian Deputy Foreign Minister Sergey Ryabkov said.
The price of gold futures for delivery in February 2026 on the Comex exchange reached a new all-time high, surpassing the level of $4,650 per troy ounce, according to trading data.
Prices of gold and silver futures contracts on the Comex exchange have renewed historical highs, having risen above $4,45 per troy ounce and $69.5 per troy ounce, respectively, according to trading data.
BRICS member states don’t oppose the use of the U.S. dollar in global trade but believe it is important to develop alternative mechanisms for international settlements, international affairs advisor to the South American nation’s president Celso Amorim said.
Silver jumped more than 2% to a record high today. The white metal rose as high as $57.86 an ounce.
Azerbaijan’s non-oil sector exports grew by 6.6% in the first 10 months of 2025, totaling $2.99 billion, according to the Center for Analysis of Economic Reforms and Communication.
Pakistan's Prime Minister Muhammad Shehbaz Sharif received a delegation led by Azerbaijani Minister of Economy Mikayil Jabbarov, who was on an official visit to Pakistan.
The Mercedes-Benz auto concern filed an application with the Federal Service for Intellectual Property (Rospatent) to register a trademark with a similar name.
The Russian economy is cooling faster than previously expected, Russia's Economic Development Minister Maxim Reshetnikov said on the sidelines of the Eastern Economic Forum.
Bitcoin prices rallied on August 13, reaching a fresh, all-time high above $124,000.
