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Vladimir Putin - 1 Vladimir Putin's - 1 Maxim Oreshkin - 1 William Jackson - 1 Jackson - 1
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Tver Moscow Bank of Russia Russia's Russia Russian
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☆ Russian ruble slumps to near 17-month low, moves past 100 against the dollar
  + stars: | 2023-08-14 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
This pool image distributed by Sputnik agency shows Russian President Vladimir Putin meeting with the Tver region governor at the Kremlin in Moscow on August 9, 2023. The Russian ruble slid past 100 to the U.S. dollar on Monday, nearing a 17-month low as President Vladimir Putin's economic advisor blamed loose monetary policy for the rapid depreciation. Putin's economic advisor Maxim Oreshkin told Russia's state-owned Tass news agency that the depreciation would normalize in the near future." A weak ruble complicates the restructuring of the economy and negatively affects the real incomes of the population. In the interests of the Russian economy — a strong ruble," he said, according to a Google translation.
Persons: Vladimir Putin, Vladimir Putin's, Maxim Oreshkin, William Jackson, Jackson Organizations: Sputnik, Kremlin, Russian, U.S, greenback, Bank of, Tass, Federal State Statistics Service, Capital Economics Locations: Tver, Moscow, Bank of Russia, Russia's, Russia, Russian
☆ Russia says its economy did better than expected, one year into the Ukraine war. But experts say there's a red flag behind the announcement.
  + stars: | 2023-02-23 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +4 min
According to Russia's federal statistics service, the country's GDP contracted by 2.1% in 2022. However, Russia stopped publishing some key economic data last year, throwing up a red flag. While this contraction reversed a 5.6% GDP growth in 2021, it did far better than an 8.8% to 12.4% contraction that Russia's economy ministry projected in April 2022. The war in Ukraine triggered heightened concerns over issues related to energy security, particularly about natural gas exports — which Europe was reliant on. The EU's ban on Russian oil imports from December sent countries rushing to load up before the embargo kicked in, which helped prop up Russia's energy coffers.
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