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Search resuls for: "Isakov"


6 mentions found


☆ How Russia has avoided bankrupting itself after 2 years of waging war in Ukraine
  + stars: | 2024-02-19 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +9 min
1: By waging war outside its own bordersOne critical reason Russia's economy is still ticking is because of the location of the war. AdvertisementConsider the impact of the war on the economies of both Russia and Ukraine. In 2022, the first year of the war, Russia's economy contracted 1.2%, according to official statistics. Russia was facing a demographic crisis with a declining population and falling fertility rate even before its war with Ukraine. 4: By stimulating and steadying its economy with subsidies and policiesGovernment subsidies, spending, and policies are also propping up Russia's economy.
Persons: —, Hassan Malik, Loomis Sayles, it's, Malik, Vladimir Putin's, Sergei Guriev, Malik isn't, Alex Isakov, Putin, Alexandra Prokopenko Organizations: Service, Business, Reuters, US, Exchange, European Bank for Reconstruction, Bloomberg Economics, Vienna Institute for International Economic Studies Locations: Russia, Moscow, Boston, Crimea, Ukraine, Russian, China, India, Austrian
☆ Russia has burned through almost half of the liquid reserves in its national wealth fund as it bleeds money amid the war in Ukraine
  + stars: | 2024-01-18 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +2 min
Read previewThe stash of liquid assets in Russia's national wealth fund has fallen over 44% since Moscow invaded Ukraine, according to a Bloomberg report of Russian finance ministry data on Wednesday. Meanwhile, the national wealth fund's total holdings tumbled 12% over the same period. The massive slump in the national wealth fund's liquid assets came as its holdings in Russian companies and in infrastructure bonds surged by 2 trillion rubles, per Bloomberg calculations. AdvertisementRussia's finance ministry also used around 3 trillion rubles from the fund to cover its budget deficit in 2023 after it doubled defense spending in the same period. Alex Isakov, an economist at Bloomberg Economics, said Russia's national wealth fund's liquid assets will last for another year or two if the country's oil export prices fall below $50 a barrel.
Persons: —, Alex Isakov Organizations: Service, Bloomberg, Business, National, Bloomberg Economics Locations: Moscow, Ukraine, Russia, Russia's, Israel
☆ Russia's dwindling 'Mountain Jews' in spotlight after Dagestan airport riot
  + stars: | 2023-10-30 | by ( ) www.reuters.com   time to read: +2 min
A rabbi walks in the courtyard of a synagogue in the ancient city of Debent on the Caspian Sea coast in Russia's Caucasus region of Dagestan August 17, 2007. Dagestan became part of the Russian empire in 1813, when Tsarist forces prised it away from Persia. Known locally as "Mountain Jews", they speak a dialect of the Farsi or Persian language spoken in Iran to the south. Some scholars believe that the first Mountain Jews, like members of many other Jewish communities, started to emigrate to a prospective homeland in what was then Ottoman-ruled Palestine as early as the 19th century. Rabbi Ovadia Isakov, the best-known contemporary Mountain Jewish rabbi, told Russian media that 300-400 families remained in Derbent.
Persons: Thomas Peter, prised, Rabbi Ovadia Isakov, Isakov, Shneor Segal, Filipp Lebedev, Kevin Liffey, Grant McCool Organizations: REUTERS, Palestinian, Thomson Locations: Debent, Caucasus, Dagestan, RUSSIA, Israel, Gaza, Derbent, Persia, Iran, Ottoman, Palestine, Soviet Union, Russia, Azerbaijan
☆ Russia doesn't know what to do with the $1 billion in rupees it is amassing in India each month
  + stars: | 2023-06-01 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
Russia's amassing $1 billion worth of Indian rupees each month that it's struggling to use. India has been buying Russian oil using rupees as Moscow has been shut out of the USD-denominated global payments system. And it's not like Russia can send the rupees back home either because India has restrictions over capital flows by foreign investors — the country is looking at $2 to $3 billion worth of rupees stuck in India every quarter. India and Russia are now trying to work out how Russia can use its mounting rupee stash. Another option under discussion is having Russia channel the rupees into Indian infrastructure projects in exchange for equity stakes, per the media outlet.
Persons: Russia's, it's, —, Sergei Lavrov, Lavrov, Moscow doesn't, Alexander Isakov, Ian Hall Organizations: Service, Bloomberg, Bank of, Reuters, Treasury, Russian, Bloomberg Economics, Australian Institute of International Affairs, Griffith Asia, Griffith University, Kremlin, Affairs Locations: India, Moscow, Russia, Ukraine, —, Bank of Russia, Australia, Russian
☆ For the first time since it invaded Ukraine, Russia is expected to start buying Chinese yuan again to replenish its foreign reserves
  + stars: | 2023-05-02 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
Russia is likely to start buying Chinese yuan to replenish its FX reserves as soon as May 2023, per Bloomberg Economics. This would be the first time Russia has replenished its FX reserves since it invaded Ukraine. The move indicates that Western sanctions and a G7-led price cap on Russian crude aren't enough to curb Russia's energy revenues. Russia stopped buying foreign currency in late January 2022 due to market volatility, shortly before it invaded Ukraine. US crude oil futures are down 5.8% so far this year to around $76 a barrel, but are up nearly 14% from this year's low of around $67 a barrel.
☆ Economic asphyxiation puts Russia in China’s orbit
  + stars: | 2023-03-20 | by ( Pierre Briancon | ) www.reuters.com   time to read: +7 min
Cut off from foreign markets by sanctions, Vladimir Putin’s government is at pains to finance budget deficits that would have been manageable in peacetime. The financial difficulties are pushing Russia further into the sphere of influence of China’s President Xi Jinping, who visits Moscow this week. Dipping into the fund, though, will push Moscow further into China’s financial orbit, Russian economist Alexandra Prokopenko has noted. In the short term, financial hope for Russia can only come from a significant increase in oil and gas prices. Trade between China and Russia increased by 34% last year as Chinese imports of oil and gas jumped 50%.
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