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Russia's - 1 it's - 1 — - 1 Sergei Lavrov - 1 Lavrov - 1 Moscow doesn't - 1 Alexander Isakov - 1 Ian Hall - 1
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Search resuls for: "Alexander Isakov"


2 mentions found


☆ 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.
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