Economy of Russia
Russia to Deliver 500 000 Tonnes of Coal per month to Ukraine
Russian Deputy Prime Minister Dmitry Kozak has informed that the country is ready to supply up to one million tonnes of coal per month to Ukraine to help it solve its energy problems.
Russia says currency crisis over, but inflation set to soar
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.
High Rates, Volatile Rouble Increase Risks to Russia’s Economy, Fitch Says
The recent jump in Russia's interest rates, the weakening of the rouble and falling oil prices have increased risks to Russia's economy, Fitch Ratings said on Thursday.
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Putin Says Russia’s Economic Woes Will Be Over in Two Years
President Vladimir Putin on Thursday pledged to diversify Russia's oil-and-gas dependent economy and said he was confident the weakening rouble will recover.
He blamed Western economic sanctions imposed over Moscow's support for pro-Russian rebels in eastern Ukraine and the slump in oil prices as the reasons for the recent fall in the rouble.
Putin: Western sanctions partly responsible for crisis
Russian President Vladimir Putin says that Western sanctions have been an important factor in the current economic crisis, but not the only one.
Ruble rallies in early trading on day of Putin press conference
The ruble rallied in early trading Dec. 18 ahead of President Vladimir Putin's eagerly-awaited annual press-conference, where he is expected to give his views on the financial crisis rocking Russia.
The ruble was trading at around 58 to the dollar and 72 to the euro -- the levels of last Friday -- after closing at 60.65 to the dollar and 75.10.
Russia spends billions to prop up ruble
Russia stepped up its defense of the ruble Dec. 17 as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin's 15 years in power.
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Apple Halts Online Sales in Russia Over Ruble Instability
The technological giant Apple has temporarily suspended online sales in Russia, because of the instability of the ruble, reports Bloomberg.
"Our online store in Russia is currently unavailable while we review pricing," Alan Hely, spokesperson of Apple told Bloomberg in an e-mail on Tuesday. "We apologise to customers for any inconvenience."
Turkish Lira hit by domestic, foreign factors
The Turkish Lira hit record lows this week due to several factors. The currency is like a pendulum swung in the middle of both domestic and foreign developments.
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Russian central bank says ruble slide 'critical', to take further measures
The rapid slide of the ruble is a "critical situation" and the Russian central bank will take additional measures soon, the bank's first deputy chairman Sergei Shvetsov said Dec. 16.
"The situation is critical. We could not imagine this in our worst nightmare a year ago," he was quoted by Interfax as saying.