Anatoly Aksakov

Oil price slides to crisis levels

The price of Brent crude oil fell below the $70-a-barrel mark today for the first time in seven months, moving to the brink of bear-market territory. As of 15:57 (MSK), Brent crude reached $69.87 a barrel on ICE Futures Europe. Brent …

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Will Russia refuse placing eurobonds?

Russian Deputy Finance Minister Sergei Storchak said on the sidelines of the International Monetary Fund (IMF) and World Bank meeting that Russia may refuse to enter the external borrowings market, noting that it's an …

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Will Crimea become offshore zone?

Head of the State Duma’s Committee for Financial Markets Anatoly Aksakov proposed to set up an offshore zone on the Crimean peninsula. At the same time, he noted that it will not happen in the near future. Aksakov …

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Is Russian ruble's new devaluation around the corner?

The ruble sharply fell against the dollar and the euro on the Moscow exchange today on the news of fresh U.S. sanctions over Moscow's alleged poisoning of an ex-spy in Britain. The dollar hit its highest level against the ruble …

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Will trade wars undermine global economy?

Escalating global trade war could cut world GDP growth to 2.8% from 3.2% (by 0.4%), according to Fitch Ratings 2018 “Global Economic Outlook” baseline forecast. According to the agency, the U.S., Canada and Mexico would be …

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Russia's VAT rate hike bill passed in second reading

Russia’s State Duma passed the bill on raising value-added tax (VAT) to 20% from 18%, starting from 2019, in the second reading today.  The insurance contributions are currently paid in full at a rate of 30% for an …

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Russia passes law on counter-sanctions

Russia’s State Duma has passed the final third reading of a law on counter-sanctions against the US and other unfriendly states. The law stipulates that the Russian president may provide the government with the right to impose …

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US preparing 'black swan' for Russian sovereign debt

Extended US sanctions on Russia that cause foreign investors to pull out of its bond markets is a potential 'black swan' for 2018 that could trigger big ruble falls, Bank of America Merrill Lynch (BAML) said in a note. BAML …

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Russia's inflation reaches critically low level

Russia's annual inflation reached 2.5-2.6%, the head of the Russian Ministry of Finance Anton Siluanov said, speaking at the Financial University forum. "Our inflation is quite low - 2.5-2.6% (in annual …

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 US to impose sanctions against Russia and its partners

The law on new sanctions imposed by the US against Russia obliges the US authorities to ensure that Russian citizens and those companies that are already under sanctions do not receive assistance from foreign citizens and companies. As …

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