Alexander Abramov

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 …

Read
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 …

Read
 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 …

Read
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 …

Read
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, …

Read
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 …

Read
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 …

Read
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 …

Read
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 …

Read
 Russia takes part in creating euro-SWIFT

Russia is taking part in developing a European counterpart of the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the European Commission’s press service said. According to the EC's spokesperson, the …

Read
Why Russia buying so much gold?

Russia's central bank purchased 92.2 tons of gold in the third quarter of this year. It was the record amount in this quarter, according to the World Gold Council report.  The World Gold Council has also found that global …

Read
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 …

Read

Populars