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Russia’s 2024 Presidential Vote: What to Know
  + stars: | 2024-03-14 | by ( Neil Macfarquhar | ) www.nytimes.com   time to read: +1 min
Why does this vote matter? The presidential vote in Russia, which began Friday and lasts through Sunday, features the trappings of a horse race but is more of a predetermined, Soviet-style referendum. President Vladimir V. Putin, 71, will undoubtedly win a fifth term, with none of the three other candidates who are permitted on the ballot presenting a real challenge. The main opposition figure who worked to spoil the vote, Aleksei A. Navalny, a harsh critic of Mr. Putin and the Ukraine war, died in an Arctic prison last month. Still, the vote is significant for Mr. Putin as a way to cement his legitimacy and refurbish his preferred image as the embodiment of security and stability.
Persons: Vladimir V, Putin, Aleksei A, Mr, , Nikolay Petrov Organizations: Kremlin, German Institute for International and Security Affairs Locations: Russia, Ukraine, Kyiv, Russian, Berlin
Russia’s 2024 Presidential Election: What to Know
  + stars: | 2024-03-14 | by ( Neil Macfarquhar | ) www.nytimes.com   time to read: +1 min
Why does this election matter? The presidential vote in Russia, which begins Friday and lasts through Sunday, features the trappings of a horse race but is more of a predetermined, Soviet-style referendum. President Vladimir V. Putin, 71, will undoubtedly win a fifth term, with none of the three other candidates who are permitted on the ballot presenting a real challenge. The main opposition figure who worked to spoil the vote, Aleksei A. Navalny, a harsh critic of Mr. Putin and the Ukraine war, died in an Arctic prison last month. Still, the vote is significant for Mr. Putin as a way to cement his legitimacy and refurbish his preferred image as the embodiment of security and stability.
Persons: Vladimir V, Putin, Aleksei A, Mr, , Nikolay Petrov Organizations: Kremlin, German Institute for International and Security Affairs Locations: Russia, Ukraine, Kyiv, Russian, Berlin
The value of the Russian ruble continues to fail, forcing Russians to cut back their spending. A recent survey found that more Russians are reducing their buying of basic goods like food. Earlier this month, the Russian ruble plunged to a 16-month low against the US dollar. "Against the backdrop of the current economic situation and rising prices, Russians are trying to save money," said Romir senior director Ksenia Paizanskaya. Earlier this month, the Russian ruble plunged to a 16-month low against the US dollar, the currency's lowest level since Russian President Vladimir Putin launched his invasion of Ukraine February 2022.
Persons: Ksenia Paizanskaya, Vladimir Putin, Janis Kluge, Kluge Organizations: Russian, Service, Russia, German Institute for International and Security Affairs, Washington Locations: Russian, Wall, Silicon, Ukraine
That’s almost three times what Russia spent on defense in 2021, before its full-scale invasion of Ukraine in February 2022. Those figures are likely to underestimate the total spent on Russia’s war effort. He said that before the war Russia would typically splash around 3-4% of its annual gross domestic product on defense but now it could be anywhere between 8% and 10%. Russia’s exports are still greater than the value of its imports, despite a boost to the latter from the hefty military spending. Rising military spending is, on the other hand, boosting Russia’s industrial output and, with it, GDP.
Persons: London CNN —, Vladimir Putin, Putin, That’s, Richard Connolly, Janis Kluge, Irina Okladnikova, Liam Peach, it’s, Peach, Kluge, , , , Maksim Konstantinov, Alexandra Suslina, Suslina, Alexandra Prokopenko, Prokopenko, — Anna Cooban, Tim Lister, Olesya Dmitracova Organizations: London CNN, Reuters, Stockholm International Peace Research Institute, Royal United Services Institute for Defence, Security Studies, German Institute for International and Security Affairs, Capital Economics, CNN, , ZUMA, International Monetary Fund, Carnegie Russia Eurasia Center, International Energy Agency, West Locations: , Ukraine, Russia, Stockholm, Moscow, “ Russia, Russian, Saint Petersburg, Soviet, Berlin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'De-risking' is a skillful way to frame China relations, says former German ambassador to ChinaVolker Stanzel, senior distinguished fellow at the German Institute for International and Security Affairs and former German ambassador to China, discusses the Group of Seven summit and the concept of "de-risking."
Persons: China Volker Stanzel Organizations: German Institute for International and Security Affairs Locations: China, German
Russia’s economy did weaken as a result. “The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. Russia’s oil problemIn fact, Russia’s export revenue from oil rose last year. On the declineThe International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next.
The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.
The G-20 summit kicks off Tuesday. Here's what to expect.
  + stars: | 2022-11-14 | by ( Jihye Lee | ) www.cnbc.com   time to read: +5 min
Indonesian Finance Minister Sri Mulyani (C front) attends the G20 Finance Ministers Meeting in Nusa Dua, on Indonesia's resort island of Bali, on July 16, 2022. Nineteen countries and one economic region, the European Union, will attend this year's two-day G-20 meeting. This year's in-person attendee list has been in the spotlight as Russian President Vladimir Putin continues his unprovoked war in Ukraine. U.S. President Joe Biden is also scheduled to hold a bilateral meeting with his Chinese counterpart Xi Jinping ahead of the G-20. He highlighted China's stance on the war in Ukraine as one of many signs of eroding relations between the U.S. and China.
London (CNN Business) There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove increasingly costly. Russia's budget surplus all but disappeared over the summer, according to data published by the Russian finance ministry this week. Oil is traditionally a bigger component of the Russian budget than natural gas, and Brent crude prices — the European benchmark — have fallen about 25% since their peak in early June. That's a big hit, even before an EU embargo on Russian seaborne oil imports, and a planned G7 price cap come into force in December. And while natural gas prices in Europe remain extraordinarily high, Russia's gas deliveries to the European Union and United Kingdom have dropped by 49% since the beginning of the year, Gazprom said last week.
London CNN Business —There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove increasingly costly. Russia’s budget surplus all but disappeared over the summer, according to data published by the Russian finance ministry this week. Oil is traditionally a bigger component of the Russian budget than natural gas, and Brent crude prices — the European benchmark — have fallen about 25% since their peak in early June. That’s a big hit, even before an EU embargo on Russian seaborne oil imports, and a planned G7 price cap come into force in December. And while natural gas prices in Europe remain extraordinarily high, Russia’s gas deliveries to the European Union and United Kingdom have dropped by 49% since the beginning of the year, Gazprom said last week.
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