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Russian economy

Moscow: an innovators paradise
As never before, Russia embodies opportunity, driven by an empowered, upbeat, workforce. Warning: this may run entirely contrary to reports seen elsewhere...

20.10.2014 11:24

Russia’s blacklisted Rosneft, billionaire Rotenberg take EU to court over sanctions
State-owned oil company Rosneft and billionaire Arkady Rotenberg have filed a case in the European Court of Justice against the European Council challenging its decision over sanctions, according to papers filed with the court.

17.10.2014 10:34

Dirty money: 19 UK firms alleged ‘complicit’ in $20bn laundering scam
Some 19 British firms are at the center of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) worth of ill-gotten gains appear legitimate.

16.10.2014 09:53

UK blocks multibillion-dollar Russian oil deal
The UK has blocked a $6.4 billion deal by Russian billionaire Mikhail Fridman to attain North Sea gas fields, as part of its ongoing sanctions package against Russian businessmen and investors believed to have close ties with President Vladimir Putin.

16.10.2014 08:17

US, EU businesses oppose Russia sanctions but can't say it- Medvedev
European and US businesses are “categorically” against Russian sanctions because they act against their commercial interests, but can’t say so freely, Russian Prime Minister Dmitry Medvedev has said.

15.10.2014 13:40

China resumes pork deliveries to Russia after 10-yr hiatus
Russia will import pork from China for the first time in a decade to replace imports from the US and Europe banned as part of the standoff with the West over the Ukraine crisis.

14.10.2014 07:04

Defying the dollar Russia & China agree currency swap worth over $20bn
​The central banks of China and Russia have signed a 3-year ruble-yuan currency swap deal up to $25 billion, in order to boost trade using national currencies and lessen dependence on the dollar and euro.

13.10.2014 13:00

Russia’s two largest banks plan SWIFT alternative
The two biggest banks in Russia, Sberbank and VTB, are in talks to create an alternative to the SWIFT global system for interbank financial communications, VTB head Andrey Kostin said.

13.10.2014 10:26

Russian Central Bank rejects capital controls as ruble hits lowest level since 1998
​The ruble slid to a new record low of 39.71 against the dollar Tuesday. The Russian Central Bank has been quick to quash fears it would re-introduce capital controls to limit the amount of foreign currency purchases, or even moved outside the country.

01.10.2014 07:38

Ukraine to pay $3.1bn of Gazprom debt by end of 2014 - EU Energy Commissioner
Ukraine will pay Gazprom $2 billion for gas it has received from Russia by the end of October and an additional $1.1 billion by year’s end, EU Energy Commissioner Gunther Oettinger announced.

26.09.2014 13:17

Sanctions & weaker oil prices could cost Russia 4% of GDP – official
The geopolitical crisis in Ukraine could cut Russia’s balance of payments by the equivalent of 2% of GDP, and lower oil prices could knock off another 2%, Maksim Oreshkin, head of Russia’s Finance Ministry's strategic planning department, said.

25.09.2014 13:41

Russia has enough resources to weather sanctions - Economy Minister
The Russian government plans to look within Russia as well as Asia to help sustain the blow of Western sanctions, Russia’s economy minister said. Internal sources will provide a substitute for Western capital markets.

19.09.2014 15:13

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