Despite OPEC losing its influence, which might not be recoverable, people are still highly dependent on traditional fossil fuel which means the organization will still be important in the future, economist Max Fraad Wolff told RT.
Russian interests should be considered in the association agreement between the European Union and Ukraine, said Spanish Foreign Minister Jose Garcia-Margallo, adding that the essential strategic partnership between Russia and the EU should be restored.
The Fitch rating agency remains relatively optimistic about the Russian economy, saying $360 billion reserves and prompt state action support the country’s investment grade status. However, Russia’s rating could be revised in April, it added.
Russian President Vladimir Putin has signed a law ratifying the deal establishing the BRICS New Development Bank (NDB), according to a document published on Monday on Russia's official website for legal information.
The US has frozen accounts of Russian banks SMP, Rossiya and its subsidiary Sobinbank worth in total $640 million, as part of America’s escalating sanctions war against Russia over its policy in Ukraine.
The Russian ruble has clawed its way to around 65.1 against the euro, its strongest since December 26, ahead of the ECB €1.14 trillion stimulus. It’s up against the US dollar at about 59 with Brent above $60/bbl and a more stable Russian financial market.
New global challenges, such as plunging oil prices and slowing world economies, the emerging economic blocks, as well as Russia’s anti-crisis plan, will be center stage at the 19th Economic Forum in St. Petersburg scheduled for this June.
Criminals, tax evaders, human traffickers and drug dealers have laundered billions of pounds worth of dirty money purchasing British properties through anonymous offshore companies, Scotland Yard investigators suspect.
A US State Department deputy spokesperson urged European partners to restrain from doing business with Russia because of the developments in Ukraine. The US statement comes in response to new agreements recently signed between Russia and Cyprus.