Prompt and decisive government intervention, financial lifelines and firms’ involvement in global value chains have helped minimise insolvencies, says EIB/EBRD report.
Gazprom, Russia’s state-run natural gas giant, said on Saturday, May 21 that it had stopped all deliveries to Finland as of 6:00 a.m. local time.
Kiril Petkov believes Moscow deliberately targeted Bulgaria, where top officials were divided between Russia hawks and Kremlin sympathisers, with the aim of destabilising the government.
The current ruble exchange rate is where the government wants it to be – the fundamental rate is in the RUB75-85/$ corridor but it is currently trading at closer to RUB60/$
The inflation expectations of the Russian population fell 6pp in March to 12.5%, as consumers feel the relief of the rapid stabilisation of the economy thanks to the fast action of the Central Bank of Russia.
The month-long siege of the Azovstal metal works in Mariupol is over after the remaining members of the Azov fighters surrendered and Russian forces took complete control of the almost totally destroyed sprawling plant.
Ending new oil, gas and coal developments is not enough to reach net zero by 2050, according to new research. Instead, already built fossil fuel projects must be decommissioned early if climate change is to be limited to 1.5°C.
Human activity has caused irrevocable damage to the climate, causing hundreds of billions of dollars of economic damage and threatening water and food supplies to millions of people.
Russia’s gross international reserves (GIR) held by the Central Bank of Russia (CBR) have fallen from $629.4bn on February 25 to $585.7bn as of May 13, a fall of $43.7bn according to the latest data released by the regulator.
Russia claims 1,730 Ukrainian soldiers from the Azov brigade holed up for nearly tw months in the Azovstal metal works have been taken prisoner since May 16, but a video released by the deputy commander claims the leaders are staying and will fight.
Whilst all eyes are on Donbas as Russia continues its devastating invasion of Ukraine, another war is being fought on our TVs, phones and computers: the culture war. From the start, Ukraine has been quick to establish the cultural narrative.
Moscow is reportedly in talks with Chinese carmakers in the hopes of obtaining parts and design expertise for the revival of the Soviet-era Moskvitch brand.
Russia's parliament will consider leaving the World Trade Organisation, World Health Organisation and other international organisations which it feels have "neglected their obligations towards Russia".
Kazakh companies are treading carefully doing business with Russia.
Trust in TV news is declining among Russians, as social media news gains popularity. At the same time, Russian support for the war in Ukraine appears to be slipping, as does the belief that Russia is winning a global power struggle.
Turkish leader leaves US and Europe wondering what his price might be for unblocking what was supposed to be a routine process.
The European Commission has set 2027 as its target date for ending Russian energy imports, warning it would require €300bn of fresh investment and that new short-term spending on fossil fuel infrastructure would be needed.
As the war rages on, more and more Russians report feeling the effects of sanctions. Under pressure to keep up the impressive rate of new sanctions, the West risks isolating liberal reformers from Russia's business community instead of oligarchs.
Whereas in previous crises the Fed tried to actively stem crises, currently it seems to be proactively inducing the crisis.
The EU said that companies could keep buying Russian gas through Gazprombank without breaching sanctions for Russia’s military invasion of Ukraine, with the condition that they consider their obligations fulfilled once they pay in euros or dollars