Another Big Win For Putin!!!

[88m3]

PUTIN: We're Stronger Than Everybody

• ELENA HOLODNY
  

Wikimedia
See Also

Here Are All The Russian Weapons Separatists Are Using In Ukraine

Russia's Wounded Economy Is On The Verge Of A Crisis

Merkel Is Toughening Up Against Putin — And That Could Be Huge


Russian President Vladimir Putin expressed his belief that Russia is the strongest nation, which will lead to — in his eyes — a positive end in Crimea, according to an interview with the state-owned TASS news agency.

During the interview, Putin stated that everything will "end well" in Crimea because "it's just that we're stronger [than] everybody."

"We're stronger," he said, "because we're right. When the Russian feels that he's right, he's unstoppable. I'm saying this sincerely, not just to pontificate," he added.

Right now, there is an ongoing conflict in the southern and eastern parts of Ukraine — areas that have had predominantly ethnic Russian populations since the days of the Soviet Union.

Back in March 2014, Russiaannexed Crimea, which was previously a part of Ukraine. Since then, there has been conflict between the pro-Russian separatists and the Ukrainian government — most notably in the Luhansk and Donetsk regions.

Certain inhabitants of the region want to join Russia, while others want to remain in Ukraine.

But the Russian government has its own plan for Ukraine: "federalization."

"Each region [in Ukraine] would have control of its economy, taxes, culture, language, education, and 'external economic and cultural connections with neighboring countries or regions,'" Russia's foreign minister Sergei Lavrov has previously stated about the "federalization" plan, according to The Guardian.

This would give greater autonomy to the southern and eastern parts of Ukraine — where the conflict is currently going on. In simple terms, these regions would be directly associated with Russia, rather than with Ukraine.

Noted American political scientist Ian Bremmer recently stated that "the Kremlin is moving towards making Crimea and the Southeast Ukraine a single place" and "there's very little the Ukrainians can do" because their "military will remain badly outgunned, and the local populations in the region remain fairly anti-Kiev."

Although some people have expressed their beliefs that Putin is just winging it right now in Ukraine, Putin stated in the TASS interview that the current situation — including the actions in Crimea and afterwards — "is a strategic decision."

"I have developed a certain style over the years. I never make arbitrary decisions — the ones whose outcomes I cannot see," Putin said. "It's like when you're [driving] on the road: if you're not sure, don't pass [the car next to you]... You have to be absolutely clear that there's no upcoming traffic — that you're truly in control of the situation."

"Those who are trying to compete with us, are on the wrong side of the road. We're on the right side of the road, and we're on cruise control," Putin stated about the current situation.





http://www.businessinsider.com/putin-strong-russia-right-danger-ukraine-2014-11#ixzz3JwIhFt2k

 

[Futuristic Eskimo]

PUTIN: We're Stronger Than Everybody

 

[88m3]

Putin Woos Pakistan as Cold War Friend India Buys U.S. Arms
By Natalie Obiko Pearson and N.C Bipindra Nov 23, 2014 11:03 PM ET
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Photographer: Sasha Mordovets/Getty Images
Russian President Vladimir Putin plans to visit India next month to meet with Prime... Read More

Russian President Vladimir Putin is seeking to build military ties with Pakistanas India buys more weapons from the U.S., changing an approach toward the nuclear-powered neighbors that has endured since the Cold War.

Sergei Shoigu, making the first visit by a Russian defense minister to Pakistan since the Soviet Union’s collapse, last week signed a “milestone” military cooperation agreement. The world community “wants to do business with Pakistan now,” Shoigu said, according to a Pakistan government statement.

The move comes as Putin seeks to expand relations with Asia in the face of growing isolation from the U.S. and its allies over his support for separatist rebels in Ukraine. The U.S. overtook Russia as India’s biggest weapons supplier in recent years, prompting leaders in Moscow to reassess their strategy toward South Asia.

“We’re seeing a new Russia,” C. Uday Bhaskar, director of the Delhi-based Society for Policy Studies. “With India now widening its search for defense supplies to the U.S. and Israel, Russia too wants to expand the market for its equipment. Both Russia and India are reviewing their policies.”

Putin plans to visit India next month to meet with Modi as Russia seeks to counter sanctions from the U.S. and others. Russia this month announced plans to build a second gas pipeline to China, an ally of Pakistan, in a move that would cement Putin’s policy of tilting energy exports toward Asia.

Ruble Tumbles
“China and Russia are also allying themselves, so it’s also one factor why Russia is looking toward Pakistan more cooperatively,” retired Lieutenant General Talat Masood, a former chairman of Pakistan Ordnance Factories, said by phone from Islamabad. “It’s important to be an ally of an ally.”

Russia’s gross domestic product will contract by 1.7 percent next year after stalling in 2014, with inflation rising to 8.4 percent from 7.6 percent, IHS Inc. forecasts. The ruble has fallen about 28 percent against the U.S. dollar this year, the worst performance among 24 emerging market currencies tracked by Bloomberg.

Russia and the Soviet Union have been India’s biggest weapons suppliers, accounting for about 70 percent of its arms imports since 1950, according to data compiled by the Stockholm International Peace Research Institute. Pakistan, by contrast, has received only 2 percent of its weapons from Russia and the Soviet Union in that time, with the majority provided by the U.S. and China, the data show.

‘Critical Juncture’
Russia and Pakistan plan to increase port calls of warships, cooperate in fighting terrorism and help stabilize Afghanistan, Russian state news service Tass reported. Shoigu also met Pakistani Prime Minister Nawaz Sharif, who said steps were needed to boost the $542 million of bilateral trade between the two nations, according to the state-run Pakistan Broadcasting Corp.

“Shoigu’s visit has come at a very critical juncture when U.S.-led NATO forces are drawing down from Afghanistan by the end of 2014,” Pakistan’s government said in a statement. “Apart from promoting bilateral defense relations, the visit will enable both countries to join hands in bringing peace and stability in the region.”

It’s important for countries to balance ties between India and Pakistan, which have fought three wars since they were split after British rule ended in 1947. U.S. President Barack Obama called Pakistani leader Sharif last week, shortly after accepting an invitation from Modi to attend India’s Republic Day parade on Jan. 26.

U.S. Weapons
The U.S. surpassed Russia as India’s top supplier of defense equipment in the three years to March, according to figures submitted to parliament in August. They were followed by France and Israel.

Prime Minister Narendra Modi is seeking to modernize India’s armed forces and shift toward more domestic production to reduce reliance on imports.

Two days ago, India approved a 158 billion-rupee ($2.5 billion) purchase of artillery, the first acquisition of large-caliber guns since the 1980s. If a foreign manufacturer wins the tender, the first 100 pieces will be imported and the remaining 714 will be made in India through technology transfer.

Alexander Kadakin, Russia’s ambassador in New Delhi, told the Press Trust of India last month that “there is zero technology coming from the U.S. to India,” whereas Russia is building a nuclear power plant and fighter jets with India.

He has also questioned India’s fairness in awarding defense contracts, telling the Hindustan Times last year “we know what gimmicks are used to manipulate deals.” He said that Russia has always stood by India and losing its position as the country’s top weapons supplier “causes damage to our reputation.”

Kadakin earlier this year dismissed concerns that Russia was changing its policy toward India in discussing the sale of Mi-35 defense helicopters to Pakistan. “Nothing will be done that will be detrimental to the deep relationship with India,” Press Trust of India quoted Kadakin as saying.

http://www.bloomberg.com/news/2014-...n-as-cold-war-friend-india-buys-u-s-arms.html


another big win for Putin

 

[88m3]

Russia Now Has 'A $12 Billion Reminder' Of Its Money Problems

• ELENA HOLODNY
  

• NOV. 26, 2014, 10:19 AM
• 4,184
  
• 9

WikimediaMoscow City in 2014.





Moscow's answer to Wall Street and London is relatively empty — and its presence reflects the larger problems in Russia's economy, according to a report by The New York Times.

Not to be confused with the capital in which it is located, Moscow City is the skyscraper-filled financial center of Moscow.

Originally called the Moscow International Business Center, Moscow City was envisioned as an international center for business, entertainment, and living.

The center was built incredibly quickly during the 2000's: eight skyscrapers are complete, eight more are under construction, and two more are planned. The entire project is expected to be complete by 2018.

However, the center has two problems: it's emptying out, and it's not quite a financial center.

"Vacancy rates in the newly built financial district have become acute," The Times reports. "The entire site, some 148 acres that now includes the tallest building in Europe, Mercury City Tower, had a vacancy rate of 32 percent at the end of October, according to Cushman & Wakefield, the real estate consultancy."

There's some discrepancy over the exact vacancy rate, however. The development management company for the financial sector, City, estimates that the vacancy rate is more like 20%.

In any case, financial services companies aren't the primary occupants of Moscow City anymore, according to City.

The Times notes that 58% of the companies who signed leases were "nonfinancial companies as well as local small and midsize businesses, like High Level Hostel."

WikimediaA look at the Moscow City skyline from September 2006 to July 2014.





Although the center is facing troubles, several years ago the project made sense.

Russia was growing at 7% per year from 2000 to 2007; the Russian Trading System opened in 1995 (now called the Moscow Exchange), and the country was waving good-bye to its Soviet past.

Everyone was expecting the Russian economy is flourish into a major international power worthy of an international finance hub.

But today, things are looking a little different: Russia's political agenda has taken center stage.

Following the sanctions imposed by the EU and the US, the Russian economy has taken a serious hit. The ruble is in free fall, inflation is way above target, and falling oil prices have put immense pressure on the economy. Two of Russia's largest state financial institutions being sanctions, Sberbank and VTB, both own real estate in Moscow City.

Google Finance



"Russia's tanks are now getting more international attention than its banks, leaving Moscow City as $12 billion reminder of the nation's economic woes," The Times writes.


Check out the full report at The Times >

NOW WATCH — Watch This Mesmerizing Time-Lapse Of All The Flights Across The North Atlantic In 24 Hours



SEE ALSO: Russia Is Losing Up To $140 Billion Per Year From Western Sanctions And Oil Price Fall



Read more: http://www.businessinsider.com/russia-moscow-city-finance-banks-tanks-2014-11#ixzz3KDxCvLKi




@Domingo Halliburton @Futuristic Eskimo

 

[无名的]

 

[88m3]

http://www.nytimes.com/2014/11/26/r...gwh=96CA4752F4837A6557B136D42DC2FF85&gwt=pay#

nyt article on Moscow financial district

 

[88m3]

Interpol hunts fugitive once known as 'Putin's banker'

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© AFP/Eric Cabanis
Text by NEWS WIRES

Latest update : 2014-11-27

Interpol launched a hunt Thursday for a former Kremlin insider once known as "Putin's banker" who has since been accused of stealing money from the Russian state. Sergei Pugachyov was also once the majority owner of French luxury food chain Hediard.
Interpol has launched a hunt for a powerful Kremlin insider turned critic who was once known as "Putin's banker" but more recently ran into bankruptcy and left the country.

Russian authorities accuse Sergei Pugachyov of stealing state money issued to support his now-defunct Mezhprombank during the 2008-2009 global financial crisis.

The 51-year-old was once viewed as a leader of a hawkish Kremlin clan that allegedly was responsible for the arrest and jailing of former oil tyc00n Mikhail Khodorkovsky a decade ago.

Pugachyov was until June also the majority owner of the French luxury food chain Hediard.

But he recently left Russia for an undisclosed location and has since been one of the most vocal critics of Russian President Vladimir Putin and his new circle of rich confidants.

Pugachyov told the Financial Times in October that "today in Russia there is no private property. There are only serfs who belong to Putin."

"Big business cannot live as before. It has to live under military rules," he added.

The comments represented a sharp contrast to charges from critics that Pugachyov was one of the instigators of Russia's nationalisation campaign launched shortly after Putin first became president in 2000.

He was thought to be behind the arrest of Khodorkovsky, whose Yukos oil empire was then dismantled and its most lucrative business swallowed up at a large discount by the state firm Rosneft.

Interpol's official website states that Pugachyov is "wanted by the judicial authorities of Russia for prosecution".

It also requests that those who know his whereabouts contact the agency but does not explicitly request his arrest.

Various countries have different rules about how to proceed should they locate a person wanted by Interpol.

Pugachyov's appearance on the agency's "red notice" list means that some European countries must either detain him pending a domestic court case or book him and release him on bail.

(AFP)

http://www.france24.com/en/20141127..._ref=partage_aef&aef_campaign_date=2014-11-27

 

[88m3]

ussia’s Oil Giant Battles Debt After $55 Billion Deal Sours
By Stephen Bierman and Ksenia Galouchko Nov 28, 2014 4:09 AM ET
105 Comments Email Print
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Photographer: Andrey Rudakov/Bloomberg
Buying TNK-BP has left Sechin, Rosneft’s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders.
Related

• Russia Won't Cut Oil Output, Rosneft CEO Sechin Says

Igor Sechin spent $55 billion in 2013 to buy competitor TNK-BP and create a Russian oil colossus, pumping about 5 percent of the world’s crude.

Almost two years later and investors have written off the deal. Battered by sanctions and oil’s accelerating price crash, OAO Rosneft (ROSN) has lost 38 percent of its market value this year in dollar terms and today the whole company, TNK-BP and all, is worth $50 billion.

And buying TNK-BP has left Sechin, Rosneft’s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders, making it more indebted relative to earnings than any large oil producer apart from Brazil’s Petroleo Brasileiro SA.

“Their aggressive expansion and debt accumulation made them more vulnerable to the falling oil price and the effect of sanctions,” Oleg Popov, who helps oversee $1 billion at Allianz Investments in Moscow, said by phone.

Sechin, who had pledged the combined company would be worth $120 billion, has bigger ambitions than simply creating Russia’s largest oil producer. Putin’s point man for energy has sought to build a global oil major, swapping drilling rights at home for exploration blocks from Norway to the Gulf of Mexico. He bought production projects in Venezuela and half an oil refinery in Germany.

Balance Sheet
As the company’s balance sheet gets more stretched, he will find it harder to achieve those aims, providing an example of how the Ukraine crisis has harmed some of Russia’s largest companies and limited their ambitions to expand globally.

Rosneft, which achieved a market value of about $96 billion in the weeks after the TNK-BP deal was announced, has underperformed both Russian and international competitors this year.

“If you have to sell some oil stock you will sell the most leveraged one, and that is Rosneft in Russia,” Renata Klita, an analyst at Blackfriars Asset Management Ltd. in London, said by e-mail. Rosneft’s borrowing creates a higher sensitivity to crude prices, she said.

Sanctions imposed to punish Russia’s annexation of Crimea and policy toward Ukraine will limit Rosneft’s access to refinancing for existing loans. The Moscow-based company has already applied for state funds to help repay $30 billion that’s due by the end of next year.

Rosneft Returns
Rosneft returns, defined as the share price plus dividend payments, have been minus 31 percent over the past year in London, according to data compiled by Bloomberg.

Brent crude’s crash to as low as about $72 a barrel yesterday from over $115 in June is not totally to blame. Royal Dutch Shell Plc (RDSA) returned 8.2 percent and Total SA (FP) 3.5 percent in the same period.

Rosneft’s London-traded shares fell 4.4 percent to $4.72 at 8:44 a.m. local time as Brent crude oil prices plunged to a four-year low.

Geopolitical risks, the Kremlin’s use of state enterprises as vehicles to facilitate government policy, and a dedication to size rather than investor returns is still “a large part of the Russian market and of Rosneft’s DNA,” Bert Van Der Walt, emerging markets portfolio manager and investment analyst at Mirae Asset Global Investments LLC, said by e-mail.

“I do not expect that valuations will close the discount gap on its peers entirely,” he said.

Energy Sphere
Returns on investment in the energy sphere are a long-term endeavor with horizons extending over 15 years, Rosneft press service said in an e-mail. The company continues to work on synergies from the TNK-BP deal, Rosneft said.

The current share price comes from geopolitical factors and sanctions, the company said. Rosneft’s out-performance of Russia’s market through July, before sanctions were imposed on the company, is a testament to the quality of management, Rosneft said.

Rosneft’s Sechin sees oil returning to as high as $150 in five to seven years, he said in an interview with Bloomberg News is September.

Rosneft should be able to service debt, almost $30 billion of which comes due by then end of next year, said Alexey Bulgakov, a fixed income analyst at Sberbank CIB.

The company, which must also repay 804 billion rubles of advance payments with future crude supplies, won’t have much left over for projects beyond that, he said. Rosneft does not account for the advance payments as debt in financial reporting.

“The top priority issue for the company is debt refinancing,” Bulgakov said. “Rosneft, in theory, can be kind of OK even if the oil price goes to $75, but -- a big but -- it would have to forget about all capex apart from maintenance.”

http://www.bloomberg.com/news/2014-11-28/russia-s-oil-giant-battles-debt-after-55-billion-deal.html


comments section is hilarious

 

[CASHAPP]

 

[☑︎#VoteDemocrat]

ussia’s Oil Giant Battles Debt After $55 Billion Deal Sours
By Stephen Bierman and Ksenia Galouchko Nov 28, 2014 4:09 AM ET
105 Comments Email Print
Save

Photographer: Andrey Rudakov/Bloomberg
Buying TNK-BP has left Sechin, Rosneft’s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders.
Related

• Russia Won't Cut Oil Output, Rosneft CEO Sechin Says

Igor Sechin spent $55 billion in 2013 to buy competitor TNK-BP and create a Russian oil colossus, pumping about 5 percent of the world’s crude.

Almost two years later and investors have written off the deal. Battered by sanctions and oil’s accelerating price crash, OAO Rosneft (ROSN) has lost 38 percent of its market value this year in dollar terms and today the whole company, TNK-BP and all, is worth $50 billion.

And buying TNK-BP has left Sechin, Rosneft’s chief executive officer and a long-time ally of Russian President Vladimir Putin, with a lot of debt to repay. State-controlled Rosneft owes about $60 billion to banks and bondholders, making it more indebted relative to earnings than any large oil producer apart from Brazil’s Petroleo Brasileiro SA.

“Their aggressive expansion and debt accumulation made them more vulnerable to the falling oil price and the effect of sanctions,” Oleg Popov, who helps oversee $1 billion at Allianz Investments in Moscow, said by phone.

Sechin, who had pledged the combined company would be worth $120 billion, has bigger ambitions than simply creating Russia’s largest oil producer. Putin’s point man for energy has sought to build a global oil major, swapping drilling rights at home for exploration blocks from Norway to the Gulf of Mexico. He bought production projects in Venezuela and half an oil refinery in Germany.

Balance Sheet
As the company’s balance sheet gets more stretched, he will find it harder to achieve those aims, providing an example of how the Ukraine crisis has harmed some of Russia’s largest companies and limited their ambitions to expand globally.

Rosneft, which achieved a market value of about $96 billion in the weeks after the TNK-BP deal was announced, has underperformed both Russian and international competitors this year.

“If you have to sell some oil stock you will sell the most leveraged one, and that is Rosneft in Russia,” Renata Klita, an analyst at Blackfriars Asset Management Ltd. in London, said by e-mail. Rosneft’s borrowing creates a higher sensitivity to crude prices, she said.

Sanctions imposed to punish Russia’s annexation of Crimea and policy toward Ukraine will limit Rosneft’s access to refinancing for existing loans. The Moscow-based company has already applied for state funds to help repay $30 billion that’s due by the end of next year.

Rosneft Returns
Rosneft returns, defined as the share price plus dividend payments, have been minus 31 percent over the past year in London, according to data compiled by Bloomberg.

Brent crude’s crash to as low as about $72 a barrel yesterday from over $115 in June is not totally to blame. Royal Dutch Shell Plc (RDSA) returned 8.2 percent and Total SA (FP) 3.5 percent in the same period.

Rosneft’s London-traded shares fell 4.4 percent to $4.72 at 8:44 a.m. local time as Brent crude oil prices plunged to a four-year low.

Geopolitical risks, the Kremlin’s use of state enterprises as vehicles to facilitate government policy, and a dedication to size rather than investor returns is still “a large part of the Russian market and of Rosneft’s DNA,” Bert Van Der Walt, emerging markets portfolio manager and investment analyst at Mirae Asset Global Investments LLC, said by e-mail.

“I do not expect that valuations will close the discount gap on its peers entirely,” he said.

Energy Sphere
Returns on investment in the energy sphere are a long-term endeavor with horizons extending over 15 years, Rosneft press service said in an e-mail. The company continues to work on synergies from the TNK-BP deal, Rosneft said.

The current share price comes from geopolitical factors and sanctions, the company said. Rosneft’s out-performance of Russia’s market through July, before sanctions were imposed on the company, is a testament to the quality of management, Rosneft said.

Rosneft’s Sechin sees oil returning to as high as $150 in five to seven years, he said in an interview with Bloomberg News is September.

Rosneft should be able to service debt, almost $30 billion of which comes due by then end of next year, said Alexey Bulgakov, a fixed income analyst at Sberbank CIB.

The company, which must also repay 804 billion rubles of advance payments with future crude supplies, won’t have much left over for projects beyond that, he said. Rosneft does not account for the advance payments as debt in financial reporting.

“The top priority issue for the company is debt refinancing,” Bulgakov said. “Rosneft, in theory, can be kind of OK even if the oil price goes to $75, but -- a big but -- it would have to forget about all capex apart from maintenance.”

http://www.bloomberg.com/news/2014-11-28/russia-s-oil-giant-battles-debt-after-55-billion-deal.html


comments section is hilarious

 

[☑︎#VoteDemocrat]

struggle to eat, brehs


Russian Inflation Hits Its Highest Level In 3 Years Amid First Signs Of Food Shortages

• TOMAS HIRST
  

• OCT. 3, 2014, 11:17 AM
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Vladimir Putin's tit-for-tat sanctions against food imports from the West have driven consumer price inflation in Russia to 8% in September — its highest point in three years and way above the Russian central bank's target of 5% to 6%.

Trading Economics



The figures will be a headache for policymakers faced with a sluggish economy on the one hand, struggling under Western sanctions imposed because of Russia's role in the ongoing crisis in Ukraine, and swiftly rising prices on the other.

REUTERS/Alexander Zemlianichenko/Pool



Last month, Putin backed price freezes for natural gas, power, and rail in 2014 in an effort to restrain inflation, but so far his government has refused to ease up on the self-imposed sanctions that are widely blamed for pushing up prices.

Those sanctions have barred various food imports from the West. Predictably, this has led to shortages of certain types of food: brie and parmesan being two, according to USA Today. Prices of some staples have risen 36%.

It is not the case that Russia is facing the kind of food shortages it saw in the Soviet era — with breadlines — or in the 1990s, after it defaulted on its national debt. But it is the case that certain Western food products are becoming unavailable and domestic products are rising in price.

On Friday, Russia's Agriculture Ministry said it was not ready to consider the "possibility of liberalizing the list" of banned products that include meat, fish, dairy, fruit, and vegetables from the United States, the EU, Australia, Canada, and Norway.

Agriculture Minister Nikolai Fyodorov told the Russian news agency TASS:

We are waiting for them to come to their senses and reassess their perception of Russia in a civilized way.





Read more: http://www.businessinsider.com/russ...here-are-food-shortages-2014-10#ixzz3KcY4Ckx2

 

[88m3]

#idiot

 

[Domingo Halliburton]

Russian ruble takes a nosedive as oil price drops

By NATALIYA VASILYEVA2 hours ago


.
View



MOSCOW (AP) — Russia's ruble hit a new all-time low on Monday, dropping about 5 percent as declining oil prices and the conflict in eastern Ukraine weigh on the country's economic prospects.

The Russian currency traded at 52.75 rubles against the dollar in morning trading Monday after shedding 15 percent in the previous week. The ruble was also down 5 percent against the euro.

Battered by low oil prices and the conflict in eastern Ukraine, the ruble has been declining throughout the year, losing about 42 percent of this value since January.

The Kremlin, which in the past supported the exchange rate by buying up the rubles, says it considers the pressure on the currency to be speculative and is happy for it to remain freely floated in markets.

The price of oil, the backbone of the Russian economy, has dropped roughly 25 percent since the summer. Brent crude, an international benchmark, fell 3 percent on Friday and was down another 1 percent on Monday to $69.47 a barrel.

The recent slide follows OPEC's decision last week to leave its production target unchanged. Member nations of the cartel are worried they'll lose market share if they lower production, which could have helped to push up the price.

"In the short term, the Russian market is a victim of OPEC's apparent decision to reduce the volume of high-cost production through lower prices," Moscow-based investment bank Sberbank CIB said in a morning note. "The market and the ruble will not stabilize until oil does."

Russian monetary officials sought to assuage fears of a ruble free fall.

Ksenia Yudayeva, deputy chairman of the Russian Central Bank, told Russian news agencies on Monday there is enough currency liquidity in the market and that the Central Bank has prepared new economic forecasts based on a price of $60 per barrel.

 

[Futuristic Eskimo]

Half of the BRICS Brigade is banned. Less fun upping this glorious thread recently.



Edit: God damn at that grammar.

 

[88m3]

Bozo is about to bankrupt his country.