Economy

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Ruble down after Brent price drop

The ruble exchange rate began to decline on the Moscow stock exchange today. The dollar exchange rate increased by 0.47 rubles and was worth 67.06 rubles, while the euro rose 0.43 rubles and was worth 77.14 rubles. Brent oil …

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Erdogan: Turkey closes chapter of IMF credits

Turkey does not intend to borrow loans from the International Monetary Fund (IMF) anymore, Turkish President Recep Tayyip Erdogan said. "We have closed the chapter of the IMF credits in order not to open it …

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 Riyadh ready to replace Iranian oil

Following U.S. President Donald Trump’s pressure to tame surging crude prices, Saudi Arabia’s crown prince Mohammed Bin Salman said the world’s top exporter is doing its part by pumping …

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U.S. actively considering waivers on Iran oil sanctions

The Trump administration is actively considering waivers on sanctions it will reimpose next month for countries that are reducing their imports of Iranian oil, a U.S. government official said on Friday. As Reuters writes in an article …

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Russia's actions to reduce dependence on dollar

Russian Finance Minister Anton Siluanov detailed the actions taken by the government to reduce Russian economy's dependence on the dollar. Siluanov noted that European companies are considering the idea of …

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Russian oil companies to be obliged to refine oil

Russia's energy, finance and economic development ministries will oblige Russian oil companies to send at least 17.5% of their annual production to domestic oil refineries, according to the instruction given by Russian Prime Minister …

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Juncker: EU security depends on Russia

The European Union will reach long-term security only in cooperation with Moscow, European Commission President Jean-Claude Juncker said in a speech to Austrian parliament. Despite anything that happens in Russia, the …

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SOCAR Polymer fully uses Gazprombank loan

Director General of SOCAR Polymer LLC Farid Jafarov said that the company has fully used the loan provided by Russia's Gazprombank. In June 2015, the Azerbaijani state-owned company SOCAR and the Gazprombank …

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