US Dollar / Russian Ruble FX Spot Rate
Russia relaunches Soviet-period Moskvich auto manufacturer making use of a former Renault plant
The relaunch of Moskvich motor vehicles will come as Russia strives for a self-enough financial system as the country’s funds keep on to be choked by sanctions and other ramifications of its invasion of Ukraine. Future Publishing / Contributor / Getty Pictures Output of the Soviet-era Moskvich car or truck relaunched in Russia on Wednesday […]
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Putin promises the U.S. needs to preserve world ‘dictatorship’ and is sacrificing Europe
Russian President Vladimir Putin claimed the West has been hesitant to realize “irreversible tectonic shifts” in intercontinental relations and that the Asia-Pacific location has come to be a magnet for human resources, funds and manufacturing capacities. Mikhail Svetlov | Getty Pictures News | Getty Images Russian President Vladimir Putin on Wednesday accused the U.S. of […]
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Russia faces ‘economic oblivion’ despite claims of short-term resilience, economists say
Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Aleksey Nikolskyi | Sputnik | Reuters Russia is facing “economic oblivion” in the long term because of international sanctions and the flight of businesses, several economists have said. The International Monetary Fund last week upgraded Russia’s gross domestic product […]
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Russia cuts key interest rate back to prewar level
National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. Maxim Shemetov | Reuters The Central Bank of Russia on Friday cut its key interest rate by 150 basis points to 9.5% — the level it was at when Russia’s invasion of Ukraine began. Although acknowledging that the external environment […]
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Russia is now exposed to a historic debt default: Here’s what happens next
Russian President Vladimir Putin attends the Collective Security Treaty Organization (CSTO) summit at the Kremlin in Moscow, Russia May 16, 2022. Sergei Guneev | Sputnik | via Reuters The U.S. has announced that it will not extend an exemption permitting Moscow to pay foreign debt to American investors in U.S. dollars, potentially forcing Russia into […]
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As inflation slows and the ruble rallies, Russia is hoping to avoid a financial crisis
Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do […]
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Sanctions threaten to cripple Russia’s multibillion-dollar crypto industry
Illuminated mining rigs operate inside racks at the CryptoUniverse cryptocurrency mining farm in Nadvoitsy, Russia. Bloomberg | Bloomberg | Getty Images Sanctions imposed on Russia over the country’s unprovoked invasion of Ukraine could hamper the growth of its multibillion-dollar crypto sector, according to experts. This week, U.S. officials targeted Russian bitcoin mining firm BitRiver in […]
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Russia faces barrage of new sanctions after accusations of atrocities in Bucha, Ukraine
A man gestures at a mass grave in the town of Bucha, northwest of the Ukrainian capital Kyiv on April 3, 2022. Sergei Supinsky | AFP | Getty Images The U.S. and its European allies are preparing to deliver another slew of sanctions on Russia following mounting evidence of war crimes committed by its forces […]
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Putin talks tough on gas-for-rubles deadline. But European leaders aren’t too worried
Russian President Vladimir Putin has demanded so-called “unfriendly” countries pay for Russian gas in rubles. Mikhail Klimentyev | Afp | Getty Images Russian President Vladimir Putin has sought to ratchet up the pressure on foreign buyers of natural gas, telling so-called “unfriendly” countries to pay in rubles from Friday — or have their supplies cut […]
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Putin should think about the consequences of asking for energy payments in rubles, Germany says
Germany has some advice for Russian President Vladimir Putin: think about the consequences of asking for energy payments in rubles. Russia’s Putin said last week that “unfriendly” nations would be asked to pay for their natural gas in rubles — causing a spike in European gas prices. By asking for payments in the Russian currency […]
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