Alexander Abramov

Is new crisis in Russia only year and a half away?

Russia's next economic crisis may erupt in the next year and a half, according to experts of the Centre for Business Tendencies Studies at ISSEK NRU HSE. "If the trade war between the two largest economies in the …

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Are U.S. recession concerns rising with trade war?

Goldman Sachs Group Inc. is raising concerns of a U.S. recession as the trade war with China intensifies, boosting the impact on economic growth, Bloomberg reported citing a research note. The U.S. investment bank said it no longer …

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U.S. ready to impose sanctions on Russian debt?

U.S. senators Marco Rubio, a Republican from Florida, and Chris Van Hollen, a Democrat from Maryland, are asking for stronger sanctions against Russia in next year’s defense bill, pushing for the final …

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Russian Central Bank's cautious rate cuts continue

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 7.25% per annum. "Inflation slowdown is continuing. At the same time, inflation expectations remain elevated. Russian economy’s growth …

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Russia becomes leader in dumping dollar

Russia has became one of the main drivers in the process of dedollarization last year, the European Central Bank said in its June report on the strengthening of the role of the euro in the global economy. According to the authors of the …

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Is Russia protected from trade wars?

Russia is one of the economies that is best protected from negative consequences, including a trade war between the U.S. and China, Russia's Economic Development Minister Maxim Oreshkin said. "Russia is in many …

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American business withdraws from Russia?

Morgan Stanley is planning to send a formal notice to the Russian central bank in the first quarter of 2019 that it will close down its banking operations in the country in the first quarter of 2020, its Russian unit said in its annual …

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 Russia's Central Bank keeps key rate unchanged

The board of directors of Russia's Central Bank held its key interest rate at 7.75% today in line with market expectations, but said it could consider cutting rates as early as June. "If the situation develops in line with …

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Russia refuses to place Eurobonds

Russia's Finance Ministry sees no particular need to issue Eurobonds this year, Deputy Russian Finance Minister Sergei Storchak said. The Finance Ministry plans to focus on the domestic debt market, he noted, describing …

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Why is ruble going strong?

The dollar exchange rate declined below 65 rubles during trading on the Moscow stock exchange last week, while the euro exchange rate dropped below 74 rubles. This week the dollar fluctuated near 64.5 rubles on Monday-Wednesday, …

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Russia’s shadow economy totals 20 trillion rubles

The size of Russia’s shadow economy was equal to 20% of the GDP in 2018, according to the Rosfinmonitoring state financial watchdog. The watchdog recorded 20.7 trillion rubles ($315.9 billion) in undeclared imports and income …

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Russia loses $6.3bln due to sanctions

Various restrictions, including economic sanctions, introduced by other countries cost Russia $6.3 billion by late 2018, according to the estimates presented by the Russian Economic Development Ministry. These restrictions include …

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Bank of Russia keeps key rate at 7.75%

The Bank of Russia Board of Directors decided to keep the key rate at 7.75% per annum, the regulator said in a press release.  When grounding its decision the regulator noted that in January 2019, annual inflation held at the lower …

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One third of Russians are in debt

Every third citizen of Russia (32%) make payments towards a loan, according to the research conducted by the Magram Market Research agency. Two thirds of them (63%) pay cash loans, 37% pay mortgage loans. Most often, Russians with …

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