{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Transition to free float unlikely to further weaken ruble — minister

Read also

Falling oil prices, geopolitics cost Russian budget 4% GDP — minister

MOSCOW, October 22. /TASS/. The Russian Central Bank’s transition to ruble free float in 2015 amid falling world oil prices is unlikely to put further pressure on the national currency, Economic Development Minister Alexey Ulyukayev said on Wednesday.

“In my understanding, the ruble is largely a floating currency already in many ways. I don’t think that something will change radically,” Ulyukayev said.

The Russian Central Bank plans to switch to inflation targeting and ruble free float from 2015. Central Bank officials have stated on many occasions lately that they do not intend to give up the transition to this regime.

The regulator’s plans to switch to inflation targeting and the free float were confirmed last week by Central Bank chief Elvira Nabiullina. She said the regulator was determined to carry through its plans, despite Russia’s faltering economy, great uncertainty over the country’s further economic development and high financial and foreign exchange market volatility.

The Russian ruble has been depreciating rapidly in the past few months amid falling world oil prices and high capital flight.

Read also

Tags

Alexey Ulyukayev Currency

Russian Economy Ministry expects trade balance surplus to decline

Exports of goods are expected to drop to $419.7 bln this year. Imports are forecast to grow to $315.7 bln in 2024

Russian troops wipe out military train with Western armaments in DPR over past day

Russian troops improved their tactical position and repelled eight Ukrainian army counterattacks in the Avdeyevka area over the past day, the Defense Ministry reported

Russian national Petrov arrested in Cyprus to appeal to Supreme Court — lawyer

On April 25, the court in Nicosia ruled to extradite Artur Petrov to the United States

Insurers refuse to pay compensation for Nord Stream — Russian envoy to UN

Vasily Nebenzya stressed that insurers conclude on their own that the "explosion at the gas pipelines was made using an explosive devices, willfully and due to political motives," thereby confirming its terroristic nature

Russia ready to cooperate with all interested partners to ensure security — Putin

The Russian leader expressed confidence that the the 12th International Meeting of High Representatives for Security Issues "will bolster cooperation for the mutual benefit of our countries and peoples"

Ukraine’s army leaves first defensive line in Berdychi near Avdeyevka, says DPR

The Ukrainian military has suffered heavy casualties among personnel and military hardware in that community, Igor Kimakovsky said

Press review: NATO flexes muscles near Russian border and South China Sea runs hot

Top stories from the Russian press on Wednesday, April 24th

International cooperation needed to investigate Nord Stream incidents — Russian diplomat

According to Nebenzya, the real goal of the West, which is seeking to persuade the world of the futility of international efforts, is "to keep on telling the tale of lost time" as long as possible in a hope that "international community will forget about this terrorist attack"

UN bound to stay as unique world organization — Russian ambassador

"If the UN did not exist, it should have been created," Vasily Nebenzya said

NATO bears direct responsibility for Ukraine crisis — Chinese Foreign Ministry

Spokesman Wang Wenbin stressed that China was not providing weapons to the conflicting parties and strictly controlled dual-use goods, including the export of drones

Israel ready to accept release of fewer than 40 hostages in deal’s first phase — newspaper

According to the report, Israel is willing to acceprt the release of women, men over 50 years old and those seriously ill

China, US free to have their own friends, partners — President Xi

Beijing sticks to the principle of non-alignment with any blocs, the Chinese leader said and called on Washington "to refrain from teaming up in small groups"

Russia, India plan to launch ‘green corridor’ project in trade shortly

The sides supported the early launch of the green corridor project aimed at the simplification of customs operations

One more suspect in Crocus City Hall terror attack arrested — police

The detention was reported earlier by the media, which said that police had captured Tajik national Djumokhon Kurbonov

West bends sanctions rules when it suits them — Kremlin

Dmitry Peskov noted that, "according to some parameters, companies in Europe and other regions can hardly maintain their competitiveness if they completely abandon our products"

Shoigu talks about ties with NATO, attacks on Zaporozhye NPP as he attends SCO meeting

TASS has put together the highlights of Shoigu's speech

Russia appreciates Bolivia’s push to defend sovereignty, Lavrov says

The Russian foreign minister said that the sides would exchange opinions on how to develop bilateral relations along the path outlined by Bolivian President Luis Arce and Russian President Vladimir Putin

Better situation for peace in Ukraine, threats to Belarus: new statements by Lukashenko

The head of state accused Washington of preparing a "Belarusian liberation army" and reiterated Minsk's readiness to "defend its country"

Swiss conference on Ukraine undermines European security — Russian diplomat

In Maxim Buyakevich words, neither the talks nor their outcome can change the existing political and territorial realities

TotalEnergies to announce force majeure for Yamal LNG in case of EU sanctions

The company has two contracts for LNG supplies to Europe from the Yamal LNG project and one for Asia that requires closer consideration, CEO of the French energy company Patrick Pouyanne said

Russia warns US, NATO against harming its security — diplomat

Maria Zakharova stressed that "the level of nuclear risks have risen dramatically as a result of the West’s destructive policy, which is fraught with a direct military confrontation between nuclear powers"

Space station’s orbit raised by 1 km — Roscosmos

According to preliminary information, the average altitude of the orbital outpost was increased to 414.8 km above the Earth’s surface

Erdogan moves back from May 9 his trip to US — report

The report hasn’t been officially confirmed

About 20% of weapons sent to Kiev end up on black market – Russia’s UN mission

Dmitry Polyansky said that some of the weapons supplied to Kiev are "in the darknet, which means that it is available to anyone"

Global community changing tune about how Ukraine conflict started — security official

According to Nikolay Patrushev, these countries "understand perfectly well who is financing" the Kiev regime

Russian, US diplomats to meet Brahimi in Geneva – source

The parties will exchange views on Syrian issues in order to achieve progress at the negotiations in Geneva

Charles III to return to public duties soon — Buckingham Palace

The king, 75, and queen will host their majesties the emperor and empress of Japan for a state visit in June, according to the palace

Russia’s natural population decline shrinks by 24% yoy in January-August — statistics

The Federal Statistics Service noted that mortality in the eight months of 2023 decreased by 9.8%, and the birth rate dropped by 2.5%

West reluctant to punish those responsible for Nord Stream blasts — Russian diplomat

According to Vasily Nebenzya, the situation is as though a year-long probe into a murder yielded a conclusion that "the victim was murdered"

Istanbul accords could have stopped hostilities in Ukraine — German newspaper

The deal still looks advantageous even after two years of war, Welt am Sonntag said

Palestinian death toll in Gaza increases to over 34,300 — health officials

According to the Palestinian enclave’s Health Ministry, over the past 24 hours, 43 people have been killed and another 64 wounded

Moscow slams NATO drills near Russian borders as inflammatory

"It is obvious that the upcoming combat training on the territory of Finland is part of a hybrid war against our country," Maria Zakharova said

Terrorist attacks occur in Iran, Russia due to US support for terrorism — Iran’s top brass

According to the news agency Tasnim, when speaking about NATO eastward expansion, Mohammad Reza Ashtiani emphasized that the Shanghai Cooperation Organization member states should utilize the SCO potential in order to neutralize common threats

Russian troops destroy 89 Ukrainian UAVs, 5 boats in Kherson area over past day

"Battlegroup Dnepr units conducted active counterbattery warfare and destroyed enemy drones, manpower and equipment on the right bank of the Dnieper River," Governor Vladimir Saldo said