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Russian economy

UK seeking to bar Russia from using SWIFT banking network – report
The British government will press other European nations at a meeting in Brussels on Saturday to block Russia from using the SWIFT banking network, Bloomberg reported, in what could be a dramatic expansion of sanctions.

29.08.2014 18:03

12 McDonald’s restaurants temporarily closed in Russia, 100 inspections underway
Russia’s food safety watchdog has temporarily closed 12 McDonald’s outlets across the country as of Friday citing sanitary violations. Meanwhile, the company says it will “modernize” 18 other restaurants in renovations planned for September.

29.08.2014 14:52

Purr-fect mortgage: Top Russian bank offers feline bonus to new homeowners (VIDEO)
Russia’s largest lender, Sberbank, is giving a housewarming cat to new homeowners who sign up for the bank’s new special mortgage program.

28.08.2014 10:08

Turkey: ‘We’re ready to increase food exports to Russia’
As Moscow banned food imports from the West, Turkey voiced its readiness to increase its exports of agricultural products to Russia, Turkish economy minister has said.

16.08.2014 10:09

Russia seeks safe haven in gold, away from dollar and euro
Russia is taking steps to ensure that it protects itself from any future dollar or euro sanctions. Moscow boasts the world’s 5th biggest foreign exchange reserves and the 6th largest gold reserves. In total, the assets amount to over $1.5 trillion.

15.08.2014 11:53

Russian economy grows 0.8%, avoids technical recession
Russia's gross domestic product (GDP) increased by 0.8 percent between April and June, compared to the same period last year, according to a preliminary estimate by Russian statistics bureau Rosstat.

11.08.2014 17:58

Romanian beef added to Russia's 'imports black list' in tit for tat sanction row
Russia has imposed a food import ban on Romanian beef, adding to restrictions already in place on Polish vegetables and Ukrainian juice, in what is being seen as an extension of its response to more biting Western sanctions announced last week.

06.08.2014 14:11

Coke pulls ads from 4 Russian TV channels, on ‘purely economic’ basis
American beverage giant Coca-Cola says its decision to cancel advertising on four Russian state television channels is unrelated to sanctions.

06.08.2014 10:41

Russia sanctions could jeopardize Britain’s economic interest – JCB chief
One of Britain’s most powerful businessmen has sharply criticized EU-US sanctions against Putin’s government, warning they lack foresight and could result in countless UK job losses.

05.08.2014 13:08

Hague court had no authority in Yukos case, ruling politicized – Moscow
The Hague’s arbitration court was not legally empowered to view the case of Yukos Oil Company v. Russia, and the court’s “one-sided” ruling disregards previous Strasbourg court decisions on the issue, the Russian Finance Ministry said in a statement.

28.07.2014 17:01

‘Mega-arbitration’: Court orders Russia to pay $50bn in Yukos case
The International Arbitration Court in the Netherlands has ended a decade long case brought by shareholders in the defunct Yukos oil company, and ordered Russia to pay about $50 billion in damages.

28.07.2014 08:23

HSBC: Russia enters technical recession, as Ukraine’s drag weighs
Russia has slipped into a technical recession, as the growth has been negative for the past two consecutive quarters, and stagflation could be on the horizon, a new HSBC report reveals. Political tension in neighboring Ukraine is being blamed.

03.07.2014 10:34

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