Search Results for: Russian oil
Russia Increasing Gold Reserves as a Hedge Against Political Uncertainty
May 27th, 2015
Russia is increasing its gold holdings because gold is a reserve asset that is free from legal and political risks, a senior central banker said on Tuesday. The comments by Dmitry Tulin, who manages monetary policy at the Central Bank, reflect Russian fears that the country’s overseas assets ...
Central Bank of Russia: Acts to Rein In Russia’s Ruble Rally
May 15th, 2015
The Russian ruble fell sharply on Thursday after the Central Bank announced it was buying foreign currency worth $100-200 million daily to replenish its reserves, a sign it thinks the ruble has strengthened enough. At 8 p.m., the ruble ...
On Bank of Russia key rate ( from 14.00 to 12.50%)
April 30th, 2015
On 30 April 2015, the Bank of Russia Board of Directors decided to reduce the key rate from 14.00 to 12.50 percent per annum, taking account of lower inflation risks and persistent risks of considerable economy cooling. Amid ruble appreciation and significant contraction in consumer demand in February-April 2015, monthly ...
Putin Meets With Alexis Tsipras of Greece, Raising Eyebrows in Europe
April 9th, 2015
With Russia and Greece at odds with Europe, this week’s visit from the Greek prime minister Alexis Tsipras, “could not have come at a better time,” President Vladimir V. Putin said Wednesday. Mr. Tsipras, who is in tough negotiations with other European leaders over international financial ...
Ruble Storms to 2015 Highs as Exporters Sell Off Foreign Currency
March 25th, 2015
The Russian ruble rose to new 2015 highs on Wednesday, shrugging off a decline in oil prices as Russian exporters continued to sell forex to pay monthly taxes. At 08:00 GMT, the ruble was 0.8 percent stronger against the dollar at 57.22, and 0.6 percent stronger at 62.66 versus the euro. The Russian currency ...
Russia’s Putin calls for regional currency union
March 23rd, 2015
Russian President Vladimir Putin proposed on Friday creating a regional currency union with Belarus and Kazakhstan, Russia’s main partners in a union of ex-Soviet states facing growing economic challenges. Putin made his proposal at a meeting with the Belarussian ...
Predicting the Future With Russia’s Economic Nostradamus, Mikhail Dmitriyev
March 19th, 2015
Mikhail Dmitriyev, president of the New Economic Growth consultancy, is often described as “Russia’s top brain.” He studied in Leningrad in the ’80s and took part in economics discussion clubs with the people who transformed Russia into a market economy, including Anatoly Chubais, the architect of Russia’s privatization ...
Russia Deposit Fight Sees Foreign Banks Seeking New Clients
March 19th, 2015
Oksana Semenikhina, a customer of Citigroup Inc.’s Russian unit for the past decade, got an offer from the lender this year that she couldn’t pass up. “They offered to open a ruble term deposit for me at 9 percent ...
The Central Bank of Russia Press release regarding Key Rate
March 13th, 2015
On 13 March 2015, the Bank of Russia Board of Directors decided to reduce the key rate from 15.00 to 14.00 percent per annum taking into account that the balance of risks is still shifted towards a more significant cooling of the economy. This decision will contribute to the reduction of these ...
Botched Law Could Close Hundreds of Foreign Firms’ Rep Offices in Russia
March 11th, 2015
Representative and branch offices of foreign companies working in Russia are in a race against time to re-register with the authorities or lose their license to operate in the country. The re-registration was intended to streamline bureaucracy for foreign firms, but organizational failures and lack of proper warning have left companies scrambling ...
