Sergey Hestanov

Dollar and euro footstep away from 70 and 80 rubles

The dollar and euro exchange rates are getting closer to the psychological level of 70 and 80 rubles, respectively. The dollar exchange rate increased to 69.42 rubles at the Moscow Exchange from 68.77 rubles, as of 12:10 Moscow …

Read
Russia agree to cut 200,000 bpd

Russia is ready to cut oil output by 200,000 barrels per day. Russia is ready to cut oil output by 200,000 bpd if OPEC offers to cut more than 1 million bpd, Reuters reported. On December 6, OPEC ministers discussed the oil …

Read
"We have fallen into serious stagnant hole"

Russia's economic situation reminds me of the era of post-war stagnation, Russian Accounts Chamber Chairman Alexei Kudrin said today. "For the last 10 years we have been living with a growth rate of 1%. …

Read
Medevedev: global situation worse than in 2008

Russian Prime Minister Dmitry Medvedev said that the global economic situation has become worse now than it was in 2008, when the financial crisis jolted the world. "Ten years ago we were much wiser and were ready …

Read
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 …

Read
Policy launches another attack on ruble

The possible new sanctions against Russia by the U.S. and UK, after the Netherlands claimed that the Dutch military intelligence and security service had allegedly prevented an attack by Russian hackers against the OPCW, the Russian national …

Read
Deutsche Bank: ruble among most undervalued currencies

The ruble ranked among the top three undervalued world currencies, according to Deutsche Bank's Behavioral Equilibrium Exchange Rate (BEER). It is 15% weaker than its "fair rate," the bank's economist said. In the review of …

Read
Are Russian finances out of danger?

Russia's financial stability indicators are at a safe level, the Russian Central Bank said in its financial market risks review for August, "An unfavorable external background is formed in the face of expectations of U.S. …

Read
Russia ditching dollar

Russia's Industry and Trade Ministry is considering switching to settlements in national currencies as a response to new U.S. sanctions, Russian Industry and Trade Minister Denis Manturov said on the air with Rossiya 24 …

Read
20th anniversary of Russia's 1998 default

Twenty years ago, on August 17, 1998, Russia announced a technical default on main types of sovereign debt securities to the amount about $72.7 million.  One of the main reasons of crisis was the oil price collapse to $9.1 per …

Read
Ruble currency storm put on hold

Russia's ruble exchange rate rose today on the Moscow Exchange. At the moment of the opening of the stock exchange US currency traded at 67.11 rubles, in an hour it reached a low of 66.51 rubles, as of 11:10am (MSK).  …

Read
US 'anti-Trump' sanctions against Russia revealed

The Defending American Security from Kremlin Aggression Act of 2018 (DASKAA), aimed at increasing economic, political and diplomatic pressure on Russia in response to Moscow’s alleged continuing interference in US elections, proposes …

Read
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 …

Read
Russia's Central Bank freezes key rate

The Board of Directors of the Russian Central Bank has kept the key rate at the level of 7.25%. "The Bank of Russia has reviewed the inflation forecast upwards considering the planned increase of the value added tax in 2019. This …

Read

Populars