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Russia and the global economy

​CBR launches SWIFT alternative for domestic payments
The Central Bank of Russia (CBR) has launched a new SWIFT-style payment service aimed at moving away from Western financial dominance. The system is already operating, and will be fully functional within six months.

26.12.2014 10:40

​Ruble’s ‘perfect storm’ over – finance minister
The weak period of the ruble is over; there is now a strengthening trend in the national currency Russian Finance Minister Anton Siluanov said.

25.12.2014 13:00

Russia’s biggest blacklisted banks appeal EU sanctions
Russia’s two biggest lenders Sberbank and VTB, as well as Russia’s foreign development bank Vnesheconombank (VEB) have appealed to the European Court of Justice against EU sanctions, saying there was not enough evidence for their introduction.

25.12.2014 12:51

Downgrade fears prompt Russia to consult with rating agencies
The Russian Ministry of Finance is to discuss its policy and the economic situation in the country with international rating agencies to “extend their understanding” of the issue, says Minister Anton Siluanov.

24.12.2014 13:57

Oil price fall: ‘Nobody will be a winner’
Refusing to cut production OPEC is planting the seeds of a future oil crisis where global consumption will overtake a global production, Dr. Mamdouh Salameh, consultant on oil and energy at the World Bank told RT.

22.12.2014 17:33

Russian warning: No gas for Ukraine if it fails to pay $1.65bn debt by next week
Energy Minister Aleksandr Novak has threatened Russia may turn off the taps if Kiev doesn’t repay the remaining $1.65 billion of its gas debt by the end of December.

23.12.2014 12:19

Ruble at 2-wk high as Central Bank pulls out big financial tools
The Russian ruble hit a two-week high Tuesday of 53 against the USD, showing strong signs of recovery after hitting rock bottom one week ago on 'Black Tuesday'. The Central Bank and government have taken swift action to shore up the ailing ruble.

23.12.2014 08:29

Cuba won’t give up principles for Washington's promises – Russian deputy PM
Moscow always knew that the economic blockade of Cuba was doomed, Russian Deputy Prime Minister Dmitry Rogozin said on a visit to Havana.

20.12.2014 06:58

​Bulgaria ready to issue South Stream permits
Bulgaria is ready to issue all the necessary permits for the construction of the South Stream pipeline, according to Prime Minister Boyko Borisov. He said it will up to Gazprom whether the pipeline is built or not.

19.12.2014 12:15

‘Putin keeps ace up his sleeve to surprise market’
President Putin has not disclosed his future strategic plans during the annual Q&A since to surprise international markets one should always have an ace up the sleeve, French economist Jacque Sapir told RT.

18.12.2014 13:29

‘Ruble drop- continuation of global credit crisis’
A global crisis has never ended, most of the Western states have enormous debts which they are not able to pay off, and the current collapse of the Russian currency is just its continuation, Mitch Feierstein, of Glacier Environmental Fund, told RT.

18.12.2014 15:02

Russia crisis leaves banks around the world exposed by the billions
Major banks across Europe, as well as the UK, US, and Japan, are at major risk should the Russian economy default, according to a new study by Capital Economics.

17.12.2014 15:15