Ruble’s slump has killed hopes of further rate cuts in Russia

Traders are betting that the Bank of Russia will put interest rate cuts on hold after the ruble’s 9% slump against the dollar in the past three months. Forward-rate ... Read More

As US piles on sanctions, foreign investors pour more money into Russia

Russian companies’ stocks attracted the most foreign investment in 5 years, adding nearly $576 million in January, the Central Bank of Russia reported. Investors also actively poured money into ... Read More

Russia passes tax haven laws to bypass sanctions

International firms can use new laws to establish an offshore domicile and thereby bypass sanctions. The Russian parliament’s upper chamber has approved a package of laws to enable Russia-controlled ... Read More

Sanctions against Russia have cost European Union €30bn

New research by the Austrian Institute of Economic Research (WIFO) suggests the EU’s economic sanctions against Russia introduced three years ago have cost European countries billions of euro. The survey, ... Read More

Russia has plans to introduce its own digital currency

Russia has plans to introduce its own digital currency running on blockchain technology, according to First Deputy Prime Minister Igor Shuvalov. The FSB “is actively working at the international ... Read More

Oil falls as rising Libyan, U.S. output undermines cuts

Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production that is undermining OPEC-led production cuts aimed at tightening the market. Brent ... Read More
Brent Crude Oil

Oil drops after OPEC-led output cut extension falls below expectations

Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. ... Read More
A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County Texas

Oil prices climb on hopes output cuts will be extended

Oil futures rose on Friday to the highest in nearly a month on growing optimism that big producing countries will extend output cuts to curb a persistent glut in ... Read More

Russia is considering raising value added tax to 22 percent

If the government raises value added tax and the central bank sees inflation risks from the move, it would be logical for the bank to keep interest rates higher ... Read More

Oil drops on rising U.S. crude inventories, defies expected supply cut extension

Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia ... Read More
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