The US pursues coercive diplomacy regarding Russia and other countries, that has the appearance of diplomacy but in reality the other side has to give up its position, Executive Director of the Ron Paul Peace Institute Daniel McAdams told RT.
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.
Banks in Russia will get a government boost to finance debt and projects as the country risks recession. On Friday, the State Duma passed the last two readings of a law to allocate up to 10 percent, or $6.54 billion, from a sovereign wealth fund.
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.
Federation Council Chair Valentina Matviyenko has ordered a vote on a parliamentary investigation into the recent activities of the Central Bank and its alleged role in the worst-ever plunge of the ruble rate.
The Russian currency remains volatile Wednesday after it suffered its own ‘Black Tuesday’ losing about 20 percent. The ruble strengthened to 61 rubles per 1 USD, before settling near 62 at market close in Moscow.
For the sake of the Russian economy, the Central Bank cannot continue its waiting game strategy for too long hoping that speculators give up before it does, says Mike Ingram, a market strategist at BGC Brokers in London.
The plunging ruble is a signal for the Russian economy to adapt to new conditions, Russia’s Central Bank Chair Elvira Nabiullina said, following the surprise midnight decision to hike the key interest rate to 17 percent.
The abolishment of the South Stream gas project will negatively affect countries which need cheap energy, such as Hungary, Anna Van Densky, a political commentator for EU Reporter Magazine, told RT ahead of the Central Europe summit in Prague.
The Russian Central Bank has increased borrowing costs to 10.5 percent to avoid a further rout of the ruble. The currency has lost more than 40 percent this year, and annual inflation is slated to reach 10 percent.