Anton Siluanov

Taking care of pensioners who are his bedrock of support has been a key feature of President Vladimir Putin's rule, but as crisis bites, the Russian government is mooting an idea that has been taboo for 80 years: Raising the retirement age.

The meeting between Russian President Vladimir Putin and Greek PM Alexis Tsipras in the Kremlin lasted about two hours.

Shortly after 13:30 EET, the Russian president received Alexis Tsipras with a warm handshake. Their meeting was concluded shortly before 16:00 pm EET.

By Henry Meyer & Eleni Chrepa

The journey to Moscow from Athens is a path well-trodden for Greek leaders.

Prime Minister Alexis Tsipras is due to meet Russian President Vladimir Putin in Moscow Wednesday in the hope of reviving economic cooperation between the two countries.

Prime Minister Alexis Tsipras?s planned visit to Moscow on April 8 will be a ?big event? in the course of relations between Greece and Russia, according to the Russian ambassador in Athens, Andrey Maslov, who told Sunday?s Kathimerini that his government would examine any request from the SYRIZA-led coalition for a loan.

The US rating agency Standard & Poor's (S&P) has downgraded Russia's credit rating to junk, which is below investment grade.

Russia's credit rating has been lowered to such a level for the first time in a decade, Bloomberg reports.

Having a rating of BB+, Russia is on a par with Bulgaria and Indonesia, which makes it difficult for Moscow to borrow money from investors.

Standard and Poor's stripped Russia of its investment-grade rating on Jan. 26, cutting it to "junk" status with a warning of weak growth.

"The downgrade reflects our view that Russia's monetary policy flexibility has become more limited and its economic growth prospects have weakened," the ratings agency said in a statement announcing the one-notch cut to a 'BB+' rating.

Russia said its currency crisis was over on Dec. 15 but warned that inflation is set to climb above 10 percent, adding to the problems facing President Vladimir Putin's government as it fights its worst economic crisis since 1998.
   

Russian President Vladimir Putin urged the central bank and government on Dec. 4 to take "tough action" to stop speculation on the ruble  after the currency hit new all-time lows this week.

Russian President Vladimir Putin is due to address both chambers of the country's legislative body, the Federation Council and the State Duma.

This year his annual event comes amid tough times for the Russian economy partially caused by Western sanctions and also after a surprising decision to end the South Stream project.