Russia has pledged 19.5 billion rubles ($238 million) in state support for airlines to refund passengers flying on routes that have been canceled due to sanctions, Russian Prime Minister Mikhail Mishustin said on Thursday. “The subsidies will be used to refund passengers the cost of tickets on routes that have been canceled due to external…
Russia Pledges 19.5 Billion Rubles in State Support for Airlines
April 14, 2022
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Oil Prices Extend Gains With Falling Supplies in Focus
LONDON—Oil prices rose by more than 2 percent on Wednesday after Moscow said that peace talks with Ukraine had hit a dead end, fuelling supply worries, while weak economic data from China and Japan kept a lid on gains. Brent crude rose by $2.26, or 2.2 percent, to $106.90 a barrel by 1126 GMT while…
Russian Central Bank Suspends Monthly Foreign Trade Data for First Time Since 1997
April 11, 2022
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The Russian central bank said on Monday it had temporarily suspended publishing data on foreign trade on a monthly basis in the first such suspension since 1997. The central bank was due to release a foreign trade balance for January-February on Monday, as initially planned, according to its data release schedule. The central bank did…
Hungary Says Rubles-for-Russian Gas Plan Breaches No EU Sanctions
April 11, 2022
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BUDAPEST—Hungary plans to pay for Russian gas in euros through Gazprombank, which will convert the payment into rubles to meet a new requirement set by President Vladimir Putin, Foreign Minister Peter Szijjarto said on Monday. Putin has warned Europe it risks having gas supplies cut unless it pays in rubles as he seeks retaliation over…
Russia Threatens Legal Action If Forced Into Sovereign Debt Default
April 11, 2022
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Russia will take legal action if the West tries to force it to default on its sovereign debt, Finance Minister Anton Siluanov told the pro-Kremlin Izvestia newspaper on Monday, sharpening Moscow’s tone in its financial wrestle with the West. “Of course we will sue, because we have taken all the necessary steps to ensure that…
Russia’s Central Bank Says It Will Stop Buying Gold at a Fixed Price
April 8, 2022
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Russia’s central bank said on Thursday that due to a “significant change in market conditions” it would buy gold from commercial banks at a negotiated price from April 8. On March 25, the bank had said it would buy gold at a fixed price of 5,000 rubles a gram until June 30. Since that announcement,…
Russia Says Ruble Appreciations Poses No Threat to Fiscal Policy
April 8, 2022
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The recent sharp strengthening of the ruble “does not pose a risk to Russia’s fiscal policy,” the finance ministry said on Thursday. The ruble firmed sharply in Moscow trade on Thursday to levels last seen before Russia sent tens of thousands of soldiers to Ukraine. The appreciation of the ruble “impacts oil and gas revenues…
US Shale Gas, LNG Firms Meet With European Countries Over Supply Crisis
April 7, 2022
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At least a dozen U.S. shale gas executives met on Wednesday with European energy officials to discuss expanding U.S. fuel supplies to Europe amid a scramble to replace Russian imports. The group met in Houston with foreign affairs and economic ministers and commercial buyers looking to reduce their imports of Russian oil, coal, and liquefied…
Russia Takes Steps to Punish Google Over YouTube Fakes
April 7, 2022
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Russia’s communications watchdog said on Thursday it was taking punitive measures against Google, including a ban on advertising the platform and its information resources, for violating Russian law. Roskomnadzor accused Google’s YouTube video-sharing platform, which has shut out Russian state-funded media globally, of becoming “one of the key platforms spreading fakes (fake images) about the…
World Shares Track Wall Street Retreat on Interest Rate Worries
World shares were mixed Thursday after a retreat on Wall Street spurred by comments indicating the Federal Reserve intends to more aggressively tackle inflation. Benchmarks rose in Paris and Frankfurt after declines in most Asian markets. U.S. futures fell while oil prices were higher. The Fed comments have added to investor unease over the war…
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