Monday, 25.03.2019
After experiencing its longest economic recession this century, Russia may have also noted its shortest recovery, Bloomberg reports. According to the U.S. bank JPMorgan Chase, Russia has ended 2017 with two consecutive quarters of decline or a technical recession, which is a surprising cooling that stretches from troubled consumer spending to...
A bill on the legalization of private military companies will be submitted to the Russian parliament in the following weeks, Russia Today reported. In recent months, the military contractors have become known as private armies and their activity has been in the spotlight after the expansion of the Donbass conflict...
Russian Deputy Foreign Minister Sergei Ryabkov said on Saturday that a new round of U.S. sanctions expected against Moscow is an attempt to influence Russia’s domestic affairs ahead of this year’s presidential elections, Reuters reported. As part of a long-standing rift in which Washington accuses Moscow of alleged meddling in the...
The Russian rouble hit a 7-1/2 month high on Monday, helped by a weaker U.S. dollar, local month-end tax payments and higher oil prices. At 0751 GMT, the rouble was 0.54 percent stronger against the dollar at 56.33, a level that hadn’t been seen since early June of 2017, and...
Top Russian businessmen are becoming anxious as the U.S. administration is applying finishing touches to a new set of economic and travel sanctions against Moscow, Radio Free Europe/Radio Liberty reports. The punitive measures are expected to target an expanded list of secondary companies as well as Kremlin-connected insiders and business leaders. In...
A new set of measures aimed at changing and improving Russia’s business climate is being drawn up by the country’s Economic Development Ministry, RBC reported citing sources. The plan dubbed ‘The Transformation of the Business Climate’ contains 14 areas, including property rights protection, taxes, human capital and labor productivity, business activity,...
The Central Bank of Cyprus has not ordered banks to close accounts of offshore companies, a spokesman for the regulator told Russian newspaper Vedomosti, commenting on media reports saying that the country’s regulatory has begun a clampdown on offshores. In early June, Russian media reported, citing a Telegram channel dedicated to...
Russia’s exports to India rose by 40.1% in January-April 2018 compared to the same period last year, to reach nearly $2.2 billion, a spokesman for Russia’s trade mission in India told TASS news agency. According to the trade mission’s statistics, the most dramatic growth, of more than 600%, was reported in...
U.S. automobile producers importing vehicles into Russia can expect an increase from 30 to 40%, sources close to the Russian government told Izvestiya. Maxim Oreshkin, Russia’s Minister of Economic Development, says the higher duties may take effect in July. That would represent Russia’s long-awaited response to the latest U.S. sanctions...
A $1.5 billion stake owned by state-controlled Otkritie bank in the country’s second-largest lender, VTB, could be transferred to state development bank VEB, three sources familiar with the discussions told Reuters. The country’s central bank is still considering the deal, the sources said. If it went ahead, it would fit...