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Russia: A Spoiler Not A Superpower (Transcript By The Daily Vertical)
By Brian Whitmore The Russian media predictably went into overdrive with the chest-thumping this week as the country’s forces returned home from Syria. On his flagship Vesti Nedeli program, the Kremlin’s chief propagandist Dmitry Kiselyev went so far as to call the Russian intervention a “victory of good over evil” that returned Russia to the … Continue reading
Russia Has Less Than Three Decades Of Oil Remaining
Russia will run out of oil by 2044, according to the Ministry of Natural Resources and Environment, with production beginning to decline in 2020. “Our recoverable oil reserves are about 29 billion tons. These are the ones that could theoretically be extracted from the subsoil. Crude oil production (without condensate) preliminarily amounted to about 505 … Continue reading
Russia Continues Increasing Its Exposure To U.S. Treasuries – Two Goals At The Back Of This Operation
Russia continues increasing its holdings in US Treasuries. There are two major goals at the back of this operation: secure fixed income denominated in foreign currency, deepen US sovereign debt. Russia has increased its holdings of US sovereign debt by $4.8 billion in 2016, according to the US Treasury Department. According to the vast majority of financial analysts, the … Continue reading
Russia: Ruble Soars On Fed Rate Decision, Rising Oil Prices
The Russian currency gained over four percent against the dollar on Thursday after the US Federal Reserve decided to keep interest rates unchanged and Brent crude climbed over $41 a barrel. As of noon Moscow time, the ruble was trading near 68 against the greenback, compared to the previous day’s exchange rate of 71. This … Continue reading
India To Get Almost 50% Stake In Rosneft’s Siberian Oil Project
Russia’s top crude producer Rosneft has agreed to sell Indian state firms a nearly 50 percent stake in its oil field in Siberia, the company announced on Wednesday. Under the agreement India’s state Oil and Natural Gas Corporation will increase its stake in Rosneft’s Vankor project to 26 percent with Oil India, Bharat Petroresources and … Continue reading
Ruble Outperforms Emerging Economies On Rising Oil
Resurging crude prices have helped the Russian ruble become the best performing emerging markets currency this year. Since its January 21 historic low against the dollar at 85.6, and 93 to the euro, the ruble has gained over 20 percent on major currencies. With Brent crude hovering around $41 per barrel on Thursday, the Russian … Continue reading
Russia To Freeze Oil Output As Putin Takes Part In The VII Chamber Of Commerce And Industry Congress (Speech Script)
The Congress is dedicated to a review of the activities of the Chamber of Commerce and Industry during the past five years, development of small and medium-sized business in the regions, Russian companies’ entry into foreign markets and ways of attracting investment. * * * President of Russia Vladimir Putin: Good afternoon, colleagues. I would like to begin by thanking you for your invitation to take part in this Congress of the Chamber of Commerce and Industry – one of the largest business unions with … Continue reading
Russia Invests $500 Million In Venezuela’s Orinoco Before Oil Hits $200
Russian company Rosneft plans to invest $500 million in the development of oil fields in the Orinoco oil belt in Venezuela. The agreement on additional investment was signed on Friday night, Feb. 19, in the presence of the President of the Bolivarian Republic Nicolas Maduro, Venezolana de Television TV channel said. “According to the law … Continue reading
De-Dollarization: Moscow And New Delhi Transitioning To Trade In National Currencies
India and Russia are developing a road map for mutual settlements in national currencies which could open prospects for both countries, India’s Ambassador to Russia Pankaj Saran told RIA Novosti on Wednesday. Transition to mutual settlements in national currencies of the BRICS looks promising. Russian and Indian companies are interested in using national currencies in … Continue reading
Rosneft Chief Sechin, Kremlin Ally, Suggests Joint Oil Output Cut
The head of Russia’s state oil company for the first time suggested oil producers should cut output to prop up plummeting oil prices. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, told a conference in London on February 10 that major producers should cut production by 1 million barrels a day … Continue reading
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