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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

RUSSIA'S ECONOMY

Yuan rate correction may contribute to ruble weakening — VTB24 bank

Taking into account that China is a large consumer of raw materials and a large trade partner of Russia, yuan rate correction may contribute to weakening of the ruble

© AP Photo/Vincent Yu

KHABAROVSK, August 14. /TASS/. Changes in the rate of the Chinese currency - yuan - may contribute to the weakening of the ruble, an official with the investment department of VTB24 Bank in Russia’s Far East told TASS on Friday.

"China is changing the rate of yuan due to worsening of trade balance. Taking into account that China is a large consumer of raw materials and a large trade partner of Russia these factors may contribute to the ruble weakening," said Darya Yermolenko, head of the investment department of VTB24 in Russia’s Far East.

Read also

"On the one hand the Chinese exports may drive Russian products from the market, on the other hand China may import less hydrocarbons," she added.

"We don’t tend to overestimate the impact of this factor because it is early to speak about a serious devaluation: the yuan fell by less than 3%, which is incomparable with more than 50% devaluation of the ruble," she said.

"In a longer perspective we are still positive about the yuan - the Chinese economy will be growing much faster than other developing economies, the country has a high potential of productivity growth. Considering this we don’t expect any drastic corrections of the yuan rate in the country where the stability and predictability of regulators is appreciated. Potentially, the yuan will become part of the SDR basket and will be used as a store value alongside with other main currencies," she said.

On Tuesday, by the decision of the National Bank of China the official exchange rate of the yuan against the dollar was reduced by 1.9% - to 6.2298 yuan per 1 dollar. As the regulator explained the decision "on optimization of design procedure" of the exchange rate was made taking into account surplus in China’s foreign trade as well as strong positions of the yuan against other countries’ currencies.

On Wednesday, the Chinese central bank reduced the Renminbi /the official name of the yuan/ exchange rate against the US dollar by another 1.6% to 6.33 yuan per dollar.

On Friday, after the three day devaluation the regulator raised the rate of yuan against US dollar by another 0.06% to 6.39 yuan per dollar.

Tags

Dollar grows to 92.19 rubles, euro declines to 98.49 rubles on Moscow Exchange

Yuan rate increased by 1.8 kopecks, to 12.67 rubles

US shifted conflict in Europe onto EU, NATO shoulders to weaken Russia, says Lukashenko

The Belarusian leader specified that the US had organized the conflict in Europe, in this case in Ukraine, and "shifted it onto the shoulders of the European Union and NATO, promising to help with money"

Press review: US tries to strong-arm China and Zelensky's bid to bring men home

Top stories from the Russian press on Thursday, April 25th

Kiev violates diplomatic relations convention by recruiting mercenaries abroad — diplomat

Maria Zakharova pointed to media reports, according to which Ukrainian embassies in a number of countries are openly campaigning local citizens to join the so-called International Legion of Ukrainian Territorial Defense

US nukes in Poland to become target for Russia should confrontation with NATO occur — MFA

"The impression is that Warsaw is maniacally seeking to attract even more attention from military planners in the Russian General Staff," Maria Zakharova added

China vows decisive response to US move to deploy intermediate missiles in Asia-Pacific

The Chinese Defense Ministry spokesperson stressed that "US steps are posing a major threat to security and stability of regional players"

Senior Russian MP dubs pervasive gender reassignment in West 'human tragedy'

Vyacheslav Volodin pointed to a law recently passed by Sweden’s parliament enabling minors to transition without surgery that a national survey showed was disapproved by 59% of citizens

Unemployment rate in Russia remains less than 3% — Putin

The unemployment rate went down in regions and settlements where it was historically high, the head of state stressed

First-ever South Korean citizen arrested for espionage in Russia

According to the law enforcement source, Baek Won-soon was handing over classified information to foreign intelligence agencies

Musk concurs that civil war looming in West

The US businessman commented on remarks by Gad Saad, a Canadian professor of Lebanese origin, who insisted that "the path that the West is taking will result in civil war"

Cosmonauts complete spacewalk two hours ahead of schedule

The cosmonauts fulfilled their tasks way faster than planned, spending four hours and 36 minutes in space

Ukraine had to negotiate agreements with Russia with ‘three masters’ — Russian envoy

"It is very difficult to negotiate with those who are unable to make decisions, even if they want, they can’t, and only act as a side to a difficult conflict," Vladimir Medinsky explained

US incapable of replicating Cold War-era arms race — Valdai club expert

According to Dmitry Stefanovich, in order to prevent a new unbridled arms race, it is necessary to work on strategic stability as well as the sphere of arms control

US military advisers, if sent to Ukraine, won’t come close to frontlines — Pentagon

"United States has no intent of conducting combat operations inside of Ukraine, nor are these forces going to be anywhere near the frontlines," Patrick Ryder said

West again tried to obstruct international security meeting in Russia — security official

According to Nikolay Patrushev, some representatives planned to attend the meeting, but later succumbed to pressure and refused

Hungary sees Ukraine conflict entering new phase, NATO involvement rising

According to the minister Gergely Gulyas, the North Atlantic Alliance "wants to provide financial assistance, as well as supply weapons and train Ukrainian soldiers"

Bolivarian Alliance countries stand for multipolar world — Maduro

"ALBA can be among the founders of a new world, a new international multipolar order," the Venezuelan president stressed

US nuclear facilities in Northern Europe to become targets in Russia-NATO clash — MFA

Maria Zakharova warned that if US nuclear weapons were deployed to Northern Europe, "the security of the countries hosting these weapons will by no means get stronger, but on the contrary be harmed"

Bank of Russia keeps key rate to prevent inflation from being double-digit, Putin says

According to the head of state, such risks still exist

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted

Right to secession from USSR was ‘time bomb’ under its statehood — Putin

The text of the Declaration of the Creation of the Union of Soviet Socialist Republics and the subsequent 1924 USSR Constitution contained the right of free secession from the Union, the Russian President pointed out

Promotion of Russian brands gives good return — Putin

Comprehensive mechanisms require to be worked out, the head of state noted, responding to a proposal to add new tools to support of congress and exhibition activities

Putin vows maximal predictability for doing business in Russia

The President ordered to expand the public finance planning level to cover six instead of three years

Russian troops wipe out Ukrainian UAV production workshop over past day

The Russian forces improved their frontline positions and inflicted casualties on five Ukrainian army brigades in the Donetsk area over the past day, the Defense Ministry reported

Blinken’s visit to China meant to shatter Russian-Chinese ties — senior Russian diplomat

"I think that Beijing understands this perfectly well and will not even pretend being ready to reach any agreements with the Americans to the detriment of Russia’s interests," Sergey Ryabkov said

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"

Negative trends still on rise in US-China relations — top Chinese diplomat

The United States should not cross the red lines with regard to China’s sovereignty and security, Wang Yi added

North Korea tests multiple rocket launchers produced at new defense enterprise

Country’s leader Kim Jong Un said the systems feature advanced technologies and "will contribute to strategic changes in the process of strengthening the artillery forces."

Number of houses affected by floods in Russia down to 15,280

The trend of the falling number of household plots affected by the flood also persists

Iran calls on BRICS states to facilitate ceasefire in Gaza Strip

Iranian Deputy Foreign Minister Ali Bagheri Kani called for a complete withdrawal of Israeli troops from Gaza

White House alleges that Russia working on satellite carrying nuclear device

"We have heard President Putin say publicly that Russia has no intention of deploying nuclear weapons in space. If that were the case, Russia would not have vetoed this resolution," Jake Sullivan stressed.

Ukrainian opposition demands parliament speaker's resignation over pro-Hitler remarks

The speaker’s shocking remarks sparked outrage among the public

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

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

Ukraine could send special forces to capture Zaporozhye NPP — politician

According to Vladimir Rogov, the Ukrainian troops are holding drills to cross the Dnieper from the right bank to the left bank and capture a large industrial site

Russians not let to Turkish Airlines flights to Mexico due to US pressure on it — diplomat

Sergey Ryabkov noted that such problems exist for Russians using Turkish Airlines flights to other Latin American countries

Russian cosmonauts begin first spacewalk in 2024

Oleg Kononenko and Nikolay Chub are expected to spend 6 hours and 52 minutes outside the orbital outpost

Kremlin vows to resolve situation with Turkish Airlines refusing service to Russians

Russia has "very constructive and friendly relations" with Turkey, Dmitry Peskov stressed

Kiev may use ATACMS missiles to hit Crimean Bridge — Russian defense ministry official

Russian military will do its utmost to repel such attacks, Apty Alaudinov said

Russian court arrests in absentia four foreign agents charged with terrorism

"The court has selected a measure of restraint for Garry Kasparov, Gennady Gudkov, Yevgenia Chirikova and Ivan Tyutrin, charged with establishing and heading a terrorist society, funding terrorist activity and justifying it publicly," the court said

Kiev troops may strike targets in Crimea with ATACMS missiles — newspaper

The goal "is to put more pressure on Crimea," The New York Times said

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

"In any case, whatever the modality of providing this aid, de facto it is about provoking Ukraine into further hostilities down to the last Ukrainian, putting guarantted money in the pockets of the US," Dmitry Peskov said

Reinforced Ukrainian battlegroup fails to break through Russian defenses in DPR — expert

Andrey Marochko added that the Ukrainians have also intensified artillery and drone attacks at Russian positions

Staff shortage cannot be covered by labor migration — Putin

Labor productivity requires a significant increase in all sectors of the economy, the President stressed

West views Europe as potential theater of military operations — Lukashenko

The number of operational and combat training activities in Poland and the Baltic states increases every year, the Belarusian President noted

All-Belarusian People's Assembly adopts new military doctrine, security concept

The adoption of a new military doctrine instead of the one that has been in force since July 2016 stems from the need for adaptation to the changed military-strategic situation

More than 2.5 bln transactions made via Faster Payments System in Q1 — Central Bank

Each fourth transaction made via the system from January to March 2024 was associated with payments for goods and services, the regulator said

Over 3,100 foreign mercenaries fight for Ukraine, most of them from US

The Russian Investigative Committee added that measures are underway to locate their whereabouts and bring them to criminal liability

Europe should be prepared to build relations with Russia post-Ukraine conflict — Macron

According to the French leader, when building relations with Russia, Europe needs to rely upon its own strong security system

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

Dardanelles temporarily closed due to fire on board of dry cargo carrier

Rescue craft were promptly sent to the ship, fire extinguishing started, the crew was evacuated

Venezuelan foreign ministry, Russian embassy hold joint conference in Caracas

The event brought together almost 200 diplomats, foreign ministry staffers and experts in international relations

Russia’s advanced technology helps use unguided munitions as precision bombs

Gefest system analyzes data of the Glonass satellite navigation grouping on the mutual location of the aircraft and the target

Transfer of US ATACMS missiles to Ukraine cannot be justified — Russian ambassador

"Neither these missiles nor other weapons can help defeat the Russian Federation," Anatoly Antonov said

Foreign delegations show great interest in Russian defense products — security official

The 12th International Meeting of High Representatives for Security Issues took place in St. Petersburg on April 23-25

Government, business to continue dialog — Kremlin

The President and business representatives are satisfied with outcomes of the meeting, Dmitry Peskov noted

Crocus City Hall attack funded using cryptocurrency, Russian finance watchdog says

Russia’s Federal Financial Monitoring Service head added that the act of terrorism was intricately planned and it took an international network of conspirators to carry it out

Detained deputy defense minister suspected of taking grand bribe of over $10,000

This charges carries a punishment of up to 15 years behind bars

Houthis say they attacked MSC Darwin vessel in Gulf of Aden

The Houthis also confirmed that the movement will "continue its military operations, impeding the navigation of Israeli vessels in the Red Sea, the Arab Sea and the Indian Ocean"

Industrial Development Fund will get additional capitalization of 300 bln rubles — Putin

The head of state stressed that companies implementing projects can already use special support measures, and the state will expand these business opportunities

West prepares puppet structures in case of coup in Belarus — KGB

Ivan Tertel said various methods were being considered, up to "instigating a forceful seizure by illegal armed groups" being trained in the West and Ukraine

Putin stays in daily contact with Sergey Shoigu, Kremlin spokesman says

Timur Ivanov was arrested by Moscow’s Basmanny Court

Russian Embassy to Austria denied participation in ceremony at Nazi concentration camp

The embassy said that the Austrian Mauthhausen Committee had also cautioned the organizations of Russian compatriots in Austria against participating in the event

Russia to hold next international security meeting in 2025 — top security official

The date and location will be announced later

Radioactive cloud from Ukraine’s eliminated munitions drifts to Europe — Security Council

"An increase in radiation levels has already been registered in Poland," Nikolay Patrushev warned

Ukraine to cease to exist unless it enters into talks, Belarusian president warns

Alexander Lukashenko stressed that his Ukrainian counterpart Vladimir Zelensky should have realistic expectations

Russia to retaliate immediately if Kiev gets ATACMS missiles — diplomat

Konstantin Gavrilov also noted that the "manic efforts" of some Western OSCE member countries to isolate Russia "are futile and will backfire on their initiators"

US government prepares to sign $6-bln contract for arms deliveries to Ukraine — Politico

According to the article, the United States "is putting the finishing touches" on one of its largest Ukraine military aid packages to date, which may be announced on Friday

Houthi leader says group attacked more than 100 ships in Red, Arabian seas so far

Ansar Allah strikes one ship every two days, Abdul-Malik al-Houthi said

French neo-Nazi ringleader liquidated near Avdeyevka — sources

There is confirmed evidence of his connections with French secret services

Casualties reported after Ukrainian strike on residential house in Zaporozhye Region city

The rescuers are involved in efforts to clear the rubble of a five-story house on Kuibyshev Street

IAEA chief to have working contacts with Rosatom, no meeting with Putin is planned

Rafael Grossi may visit Russia in late May

Russian deputy defense minister detained on suspicion of bribe-taking

"Russian Deputy Defense Minister Timur Vladimirovich Ivanov was detained on suspicion of committing a crime under part 6, article 290 of the Russian Criminal Code," the Russian Investigative Committee said

Good GDP growth results showed in first months of 2024 — Putin

GDP growth is 6% in average over the first two months, the Russian leader noted

Armenian police arrests people protesting against demarcation with Azerbaijan

Earlier, demonstrators in several regions of Armenia tried to block highways, including international ones

European Parliament urges EU states to regard Russian presidential vote as illegitimate

The resolution passed in a 493-11 vote, with 18 abstentions

US effectively dooms Ukraine by its new decisions, Russian envoy says

"The American aid won’t save Zelensky. New weapons will be destroyed, and the special military operation goals will be achieved," Anatoly Antonov stressed

North Korea to take part in SPIEF — Embassy in Russia

The 27th St. Petersburg International Economic Forum will be held on June 5-8, 2024

Russia says its battlegroup West seized better positions

The Russian forces also foiled a counterattack of an assault group of the Ukrainian 80th mechanized brigade in the vicinity of the Krasnoye settlement in the Donetsk People’s Republic

ATACMS shipment proves ‘Zelensky’s formula’ needed in US as ‘smoke and mirrors’ — diplomat

"Washington’s plan is sickeningly simple, as it means dragging everyone under the pretext of ‘peace intentions’ to an empty gathering, while bolstering Zelensky’s terrorist potential," Maria Zakharova said

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

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

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"

Russian international reserves up $2.5 bln in one week exceeding $603.2 bln — Central Bank

Russia’s international reserves are highly liquid foreign assets available with the Bank of Russia and the Russian government

Azerbaijan, Armenia have installed 20 border markers so far

Expert groups from the two countries continue their work

Situation at ZNPP remains unpredictable — International Atomic Energy Agency

The situation can take a sudden turn for the worse from one minute to the next, IAEA Director General Rafael Grossi said

Positive trends in Russian economy become stronger — Putin

"Despite unprecedented challenges we face in recent years, positive trends are becoming stronger in national economy," the head of state said

Cosmonauts complete spacewalk two hours ahead of schedule

The cosmonauts fulfilled their tasks way faster than planned, spending four hours and 36 minutes in space

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"

Potential nuclear facilities in Poland to be military target for Russia — senior diplomat

According to Sergey Ryabkov, discussions around the deployment of NATO nuclear facilities in Poland are an "unfolding story"

TASS, SMI2 to launch positive content aggregator on Internet

Positive agenda promotion mechanisms should appear in Russia, SMI2 CEO Yury Belousov said

Israel Defense Forces delivers more strikes on Hezbollah infrastructure in Lebanon

Apart from that, IDF fighter jets delivered strikes on Hezbollah infrastructure in the area of Kfarchouba in southern Lebanon and in Markaba

Russian children’s commissioner holds first face-to-face talks with Ukrainian counterparts

Maria Lvova-Belova thanked Qatar for setting up a venue for dialogue between Russia and Ukraine regarding children’s interests

Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

Global community condemns use of terrorists in geopolitical struggle — Russian official

Russian Security Council Secretary Nikolay Patrushev noted that the heads of foreign delegations expressed sincere condolences to the Russian people over the casualties of the attack on a concert hall outside Moscow

US-led coalition’s aircraft violate Syrian airspace 13 times in past day

The incidents were related to flights that were not coordinated with the Russian side and involved unmanned aerial vehicles

West’s unwillingness to give up hegemony escalates tensions in world — security official

According to Nikolay Patrushev, this creates conditions for the devaluation of international law and its institutions and the erosion of the UN's central role in resolving global and regional conflicts

Russia needs to boost production of goods based on domestic technologies — Putin

The President undescored that Russia did not plan to produce absolutely everything domestically

Ukrainian army strikes own surrendering soldiers — POW

Andrey Babenko said that after a crash course in Britain he had been sent to the frontline near Liman

Kremlin announces creation of blockchain-based payment system in BRICS

Work will continue to develop the Contingent Reserve Arrangement, primarily regarding the use of currencies different from the US dollar," the Kremlin aide Yury Ushakov pointed out

Fatah accuses Hamas of actions that led to Israeli control of Gaza — report

Fatah also said Hamas is currently seeking to become part of the Palestine Liberation Organization, but is doing this "only to preserve itself and survive"

Serial production of missiles for S-500 air defense systems begins in Russia — source

State trials of S-500 are under way at a testing range in southern Russia