Sergey Hestanov

U.S. to slap sanctions on Nord Stream 2

The Nord Stream 2 pipeline will be put under sanctions by Washington, U.S. Secretary of Energy Rick Perry said. The politician noted that the U.S. administration could prepare a bill providing for restrictions on …

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Russia's trade turnover with U.S. grows by 24%

The trade turnover between Russia and the United States in January-March totaled $5977 billion, amounting to an increase of  24%, the Russian Federal Customs Service said. Exports from Russia to the U.S. amounted to $2.686 billion, …

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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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U.S. dollar weakening predicted

The U.S. dollar exchange rate against a basket of major currencies may drop by 6% by the end of 2019, according to Morgan Stanley experts. They expect the U.S. currency will depreciate because of the U.S .economic slowdown and the Federal …

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Russia’s Central Bank keeps key rate at 7.75%

The board of directors of the Bank of Russia decided to keep the key rate at 7.75% per annum, the regulator said in a press release following the board meeting on Friday. "If the situation develops in line with the baseline …

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Russians cannot get out of debt?

The Russians scored a record number of loans in 2018. The average debt burden of Russian families increased from 22% to 27%.  Russian people's current total debt is 14.86 trillion rubles. According to the …

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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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U.S. national debt rises to astronomical level

The U.S. national debt for the first time ever crossed the $22 trillion mark, Treasury Department data revealed, noting that the latest figure represents a jump of more than $30 billion from where the balance stood at the beginning of …

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Bank secrecy to be abolished in Russia?

Russia's Federal Antimonopoly Service intends to obtain a legal basis for accessing financial information on bank accounts, deputy head of FAS Anti-Cartel Department Dmitry Artyushenko said. He stressed that …

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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 …

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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 …

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"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%. …

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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 …

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