The Visa international payment system will be forced to pay a guarantee fee estimated at $60 million for the first quarter of 2015, as it will be unable to transfer Russian domestic processing into the national system of payment cards (NSPC) by April 1.
Russia’s annual International Economic Forum held in St. Petersburg agreed to work together with Boao Forum for Asia, which is expected to create new investment opportunities across Russia, China and other Asia-Pacific states.
Ukraine’s Naftogaz has written to Gazprom suggesting extending the terms of the ‘winter package’ deal until the fall–winter period of 2015. There will be a trilateral meeting of Russia, Ukraine and the European Union in mid-April over the gas dispute.
Ukraine’s $3 billion debt to Russia could undermine the IMF’s four-year multibillion dollar bailout program. If the debt is considered official, it will breach the terms of providing financial assistance, said IMF spokesperson William Murray.
The US has created a belief that money would leave Russia, but money doesn’t flow out of countries that have extremely low debt and strong export earnings, Paul Craig Roberts, former US Assistant Secretary of the Treasury, told RT.
French oil and gas producer Total is looking for $15 billion in investment from China to pay for expansion in Russia, the company’s CEO Patrick Pouyanne said. This could be the largest private corporate deal involving Chinese banks.
The Russian economy has seen a notable rebound with businesses recovering despite a year of contraction caused by Western sanctions. Fluctuations in the domestic currency have narrowed, which brought investors back into the market.