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Russia Weathers Financial Risks but More Remain, Bank of Russia Says

Russia’s sufficient reserves and flexible monetary policy ensures the country’s financial stability for now, but a possible interest-rate increase in the U.S. and unpredictable oil prices keep the central bank ready to intervene, the Bank of Russia said ...

Daily Headline - global.abi.org - 06/23/2015 - 22:17 - 0 comments

Russia's VTB Says Mechel Agrees To Debt Restructuring Terms

Russian steel and coal producer Mechel has agreed to the terms for restructuring its debt with VTB, the country's second-largest bank said on Thursday, Reuters reported. Separately larger rival Sberbank said it had found two prospective buyers for i ...

Daily Headline - global.abi.org - 06/18/2015 - 21:00 - 0 comments

Russia’s Economy Shrinks By 2% As Sanctions And Oil Prices Bite

Russia’s economy contracted 2 per cent last quarter, prime minister Dmitry Medvedev said, saying the country faced unprecedented challenges from a plunge in oil prices and sanctions imposed over Ukraine, the Irish Times reported. The downturn was “mo ...

Daily Headline - global.abi.org - 04/21/2015 - 21:04 - 0 comments

Tsipras Flies To Moscow Amid Speculation Of Bailout From Putin

Determined to take Greek-Russian relations out of “the deep freeze”, a defiant Alexis Tsipras flew to Moscow yesterday for talks with president Vladimir Putin, ratcheting up the pressure on the western creditors keeping his debt-stricken country afloat, ...

Daily Headline - global.abi.org - 04/07/2015 - 22:14 - 0 comments

VTB Bank, Gazprombank Discuss Restructuring Debt of Mining Giant Mechel

Russia's VTB bank and Gazprombank are holding talks on the restructuring of mining giant Mechel's debt, along with other Russian banks, VTB head Andrei Kostin announced on Monday, Sputnik News reported. "We are working with Mechel, discuss ...

Daily Headline - global.abi.org - 04/06/2015 - 21:26 - 0 comments

Brown Rudnick Alert: The Yukos Awards: Russia appeals in the Netherlands- ATTORNEY ADVERTISING

By: Roger Kennell & Olga Bischof Background In July 2014 we reported that an international arbitral tribunal sat in the Hague had ordered the Russian Federation to pay over US$ 50 billion to former shareholders of the Yukos oil company, for i ...

Resource Article - twallace@abiwor... - 04/06/2015 - 08:27 - 0 comments - 0 attachments

Greece Looks to Russia as Deal With Europe Stumbles

With the prospect of a default looming in Greece, Prime Minister Alexis Tsipras is preparing to meet next week with President Vladimir V. Putin of Russia as a European deal to give more aid to Athens falters, the International New York Times reported ...

Daily Headline - global.abi.org - 03/30/2015 - 21:06 - 0 comments

In Russia, the Well for Corporate Bailouts Might Run Dry

Facing Western sanctions and low oil prices, Russian companies are lining up for subsidies from the government. But the demand for bailouts is quickly outstripping the supply of money, raising the prospect of an economic crisis here if the funds run out, ...

Daily Headline - global.abi.org - 03/09/2015 - 20:22 - 0 comments

Russian Inflation Accelerates

Russia’s inflation rate has accelerated to levels last seen in 2002, leaving the central bank with a policy conundrum as the economy slides into a recession, The Wall Street Journal reported. Hit by a rapid drop in the price of oil, Russia’s chief ex ...

Daily Headline - global.abi.org - 03/05/2015 - 22:26 - 0 comments

Russia to Draw Half Its Reserve Fund to Support Budget

Russia sharply raised the amount it plans to draw from its reserve fund to support this year’s budget, as revenues fall along with oil prices and Western sanctions cut the country off from international financing, The Wall Street Journal reported. In ...

Daily Headline - global.abi.org - 03/01/2015 - 21:35 - 0 comments

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