Rumi

Plan to revive Russian economy to cost $11.7 bln: Minister

A Russian government plan to shore up the recession-battered economy will cost around 880 billion rubles ($11.7 billion), Economy Minister Alexei Ulyukayev told a cabinet meeting on Feb. 18.

Some of these funds have already been factored into the 2016 federal budget, Ulyukayev said, but the government still needs to find additional money.

EU court rules Iran bank assets should not have been frozen

The European Court of Justice ruled on Feb. 18 that the assets of Iran's Bank Mellat should not have been frozen from 2010, dismissing an appeal brought by the European Council. 

The Council, the grouping of the EU's 28 member states, froze the funds of a number of Iranian financial entities from 2010 to combat Iranian activities that could have led to it developing nuclear weapons. 

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