Page 8 - Sofya Donets News Today

Russia said it will eliminate the dollar from its oil fund to reduce vulnerability to Western sanctions just two weeks before President Vladimir Putin holds his first summit meeting with US leader Joe Biden. The National Wellbeing Fund will shift its dollar holdings into euros, yuan and gold, Finance Minister Anton Siluanov said. The dollar pared gains on the news Thursday before bouncing back as analysts said the immediate market impact is likely to be limited. The transfer, which affects abou...

That reaction suggests Washington’s ban on U.S. investors buying new Russian rouble bonds – OFZs as they are known – is being perceived as yet another annoyance for a market that’s coped for years with sanctions risk. Investors had feared “nuclear” options such as barring U.S. firms completely from rouble debt or cutting Russia out of international money-transfer systems. Those may yet come to pass. But for now, U.S. funds can buy the bonds in secondary markets, which is what most ...

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Analysis: No knockout, but new U.S. sanctions add to Russias slow destruction By Marc Jones, Sujata Rao and Tom Arnold Reuters LONDON (Reuters) - For all the insouciance with which markets treated Washingtons latest sanctions on Russia, its move to target Moscows main funding avenue - the rouble bond market - has in some ways, crossed the Rubicon, potentially with far-reaching consequences. Drawing on experiences of sanctions imposed previously, including after the 2014 Ukraine crisis and t...

Russian Markets Shrug Off New Sanctions The ruble and stock market have recovered, but risks remain. April 16, 2021 The U.S. hit Russia on Thursday with the broadest range of sanctions in three years. Jeffrey Zeldman / Flickr (CC BY-NC-ND 2.0) Russian financial markets have shrugged off the latest round of sanctions announced by the U.S. on Thursday, with the Russian ruble and stock markets bouncing back strongly in Friday trad...

Has Russia Beaten Boom and Bust? Russia has won plaudits for its macroeconomic handling of the coronavirus. Can other countries learn from its success? March 2, 2021 Russia has managed to avoid a sharp downturn, but growth has also been slow. Has Moscow solved the boom and bust cycle? Dmitry Feoktistov / TASS A year after the coronavirus pandemic plunged the global economy into turmoil and sent stock markets tumbling, Russia ha...