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RUSSIA'S ECONOMY

Russian currency overvalued, may extend losses to 70-75 rubles per dollar — Sberbank CIB

Experts at Sberbank CIB assume that "an RTS Index at around 800 seems to be fairly priced"

© Alexandra Mudrats/ITAR-TASS

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Russian economy is quite stable, despite current conditions — PM Medvedev

MOSCOW, December 8. /TASS/. The Russian national currency is slightly overvalued and may extend losses, Sberbank CIB said in its daily investment research note on Tuesday.

According to the report, "the ruble is slightly overvalued at its current level of 69 and could fall to 70-75 rubles per US dollar." Meanwhile, experts at Sberbank CIB assume that "an RTS Index at around 800 seems to be fairly priced."

On Monday, the RTS Index fell below 800 points mark first since October 6 following the ruble’s losses due to plummet of crude oil prices after OPEC’s decision to raise its production cap. The dollar exchange rate surged by 1.36 rubles to 69.49 rubles, which is the highest rate since August, while the euro exchange rate rose by 1.31 rubles to 75.37 rubles.

Russian stocks were dragged down by collapsing oil prices. The cost of the futures contracts of Brent crude oil for January 2016 delivery on London's ICE trading plummeted on Monday by 5.6% to $40.6 per barrel, record low since February 2009.

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According to Sberbank CIB analysts, the market is likely to follow oil further on. "Our long-standing rule of thumb has been that fair value for the RTS is 20 times the price of Brent, plus or minus some geopolitical adjustment," the report said.

"The ruble will likely continue to work as the economic shock absorber. As a result, the oil price fall will mostly affect nominal numbers, while real indicators will be only marginally affected, as has been the case in the past: Russia’s dollar GDP fell by 40%, from $2.1 trillion in 2013 to $1.25 trillion in 2015, while real GDP declined by only 2%. The rest was absorbed by the currency’s decline," Sberbank CIB said.

For the currency and the economy, the risks are on the policy side. "We expect the Central Bank of Russia to make a 50 bps rate cut at its Friday meeting, but the bank could also choose to postpone its cut cycle further in an attempt to shore up the ruble and counter inflation," experts at Sberbank CIB wrote, adding that "rate cuts are needed to spur forward the economic recovery" in Russia.

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Trade turnover between Tajikistan, Russia up 21% in Q1 to over $454 mln

Russia was Tajikistan’s largest trade partner in terms of trade turnover in the reporting period, according to foreign trade data

AUKUS expansion to turn Asia-Pacific region into 'nuclear minefield' — news agency

According to the report, "the danger of Japan's participation in AUKUS is making the whole international community tense, not to mention the regional countries"

Russia vetoes US-backed UNSC resolution on banning nuclear weapons in outer space

The resolution gained 13 votes

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

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

Radicals, intel services behind terror attacks in various countries, says Putin

The tactics employed by these criminals are becoming increasingly complex and barbaric, the Russian leader pointed out

Gagauzia against Chisinau’s policy of severing ties with Russia

According to Yevgenia Gutsul, Gagauzia has never experienced such pressure from Chisinau

Russia dissatisfied with UN’s activity under grain deal — senior diplomat

Alexander Pankin noted that during his visit to New York he did not have any talks with UN officials on the Russian-UN memorandum

US has no idea what to do about Zelensky — Seymour Hersh

According to the journalist, the decision to conduct the operation was made by US President Joe Biden personally, following nine months of discussions with White House national security advisers

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals "were removed from the EU sanctions lists"

Top brass posts video of Leopard tanks, Bradley combat vehicles seized by Russian troops

The video shows Russian troops examining the enemy tanks and infantry fighting vehicles seized in battles

IN BRIEF: Russian deputy defense minister, entrepreneur arrested for taking bribes

According to the investigation, Timur Ivanov and Sergey Borodin "criminally conspired with third parties" in order to receive a bribe "as providing monetized services when conducting contracted and subcontracted work" for the Defense Ministry

US spends millions of dollars on studying UFOs, 'covers up' information — congressman

Tim Burchett added that "it’s not about little green man or flying saucers, it’s about tens of millions of dollars that our federal government is spending"

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

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"

Bolivian leader decries fresh US military aid for Ukraine, Israel, Taiwan

According to Luis Arce, instead of pursuing "the policy of diplomacy and dialogue," the United States opts for "continued war and militarism"

Modern weapons make up 82% in Russian air defense troops — Shoigu

"The Kiev regime has failed to achieve the goals of its counteroffensive prepared by NATO instructors," the defense minister said

Some people in 2021 Kabul terror attack were killed by gunfire, not explosion, CNN reports

According to the report, the source said he heard "a mass volume of gunfire" after the blast from where US Marines were standing

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"

Putin informed about detention of Deputy Defense Minister Ivanov

Minister Sergey Shoigu was also informed beforehand, Russian Presidential Spokesman Dmitry Peskov said

Russia discourages use of UN sanctions for interference in African affairs — envoy

Vasily Nebenzya underscored that Russia continues to "make an important contribution to strengthening of African countries’ potential, including UN Security Council and General Assembly"

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

Ukrainian troops in Kharkov Region lift antennas with kites to get better signal

Military expert Andrey Marochko speculated that the Ukrainian army had to resort to this tactic because the TV tower in Kharkov was damaged

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

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

Rafael Grossi may visit Russia in late May

Ukrainian forces refuse to obey Commander-in-Chief Syrsky — CIA ex-analyst

Larry Johnson also noted that the Russian forces manage to advance recently despite the slush on the roads

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

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

Russian athletes have right to decide on Olympic participation — aide

Russian and Belarusian athletes will be able to compete only under a neutral status, provided that they are not associated with security agencies and do not represent team sports

Russia’s new Supreme Court chief justice doesn’t plan drastic changes

Irina Podnosova said courts have been receiving an increasing number of complaints, attributing it to the rising trust that people have to the judicial system

US State Department confirms secret shipments of long-range ATACMS missiles to Kiev

Joe Biden directed to send ATACMS to Ukraine in February, the Principal Deputy Spokesperson for the US Department of State Vedant Patel said

Russian tourists flock to North Korea — embassy

"Today, under the two countries’ leaders’ special attention, political contacts, exchanges, cooperation in the economic, culture, science and other areas are developing with renewed momentum," Minister Plenipotentiary of the republic's embassy in Russia Lee Yong Zin said

Top US diplomat Blinken arrives in Shanghai

A State Department spokesperson told a special briefing previewing Blinken’s trip earlier that the Secretary of State would visit Shanghai and Beijing to "build on our intensive diplomacy [with China] over the past year"

Central African Republic expects Russia to supply weapons, munitions — defense minister

According to CAR Defense Minister Claude Rameaux Bireau, all necessary documents are ready but there are certain logistical difficulties

German defense minister says Russia making more arms than it needs for its op in Ukraine

"A larger part of what is being manufactured is not sent to the frontline but goes to warehouses," Boris Pistorius said

13 violations by US-led international coalition’s aircraft recorded in Syria

According to Major General Yury Popov, nine violations of the deconfliction protocols of December 9, 2019

Iran denies reports it pulled some military advisers from Syria — Al Mayadeen

The source denied news media reports on the subject, which appeared earlier

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

Russia maintains position on 'buffer zone' in Ukraine to counter missile threats

Dmitry Peskov added that the issue of fighting against long-range weapons being supplied to Ukraine and potential strikes on the areas where they are concentrated "is rather under the purview of <…> the armed forces"

Lukashenko says US rues giving rise to Russia-China alliance

"The world has already changed and not the way they dreamed of across the pond," the Belarusian president emphasized

Annual inflation in Russia gearing down to 7.82% over week — Economy Ministry

"Inflation in the consumer market slowed down to 0.08% over the week from April 16 to 22, 2024," the ministry informed

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

Ukraine exhausted, needs constant money flow from outside — defense official

Apty Alaudinov added that if the Ukrainian army received long-range weapons, it might try to attack Russia's civilian infrastructure due to its powerlessness on the front

West steps up aerial reconnaissance near Russia-Belarus borders — security official

"Today, 20-30 reconnaissance planes fly in the airspace of the Baltic states and Poland weekly," Pavel Muraveiko added

US draft on nukes in space seeks to go beyond legal framework Russia adheres to — MFA

Maria Zakharova pointed out that Russia reaffirms its "strict commitment" to the international legal obligations under space law

US military aid for Kiev cannot stop Russian army’s advance — North Korean diplomat

The US Congress House of Representatives earlier passed bills on military aid to Ukraine, Israel and Taiwan

US stops hiding true purpose of sanctions on Moscow, Russian envoy says

"It’s not about any mythical aspirations to resolve the conflict in Ukraine, but about banal opportunistic and predatory ambitions," Anatoly Antonov said

Russian forces take Ukrainian strongholds near Klescheyevka under control

Apty Alaudinov posted a drone video footage of elimination Ukrainian personnel and Russian forces capturing enemy trenches

US will have to take Russia into account and find common ground with it — Putin

Russian President said in an interview with Rossiya-1 TV channel journalist Pavel Zarubin

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

Dust from Sahara turns rain in Ukraine yellow

According to the agency, dust from the Sahara will be observed in Ukraine for two more days on April 25 and 26

Israel destroys no more than 20% of Hamas's fighting capacity — top political official

Khalil al-Hayya said that Hamas would like to see "a fully sovereign Palestinian state in the West Bank and Gaza Strip and the return of Palestinian refugees in accordance with the international resolutions"

Putin proclaims Odessa Russian city, challenges Ukraine's historical narrative

At the same time, the president noted that once upon a time "Vladimir Lenin gave away the whole of Ukraine when he created the Soviet Union"

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

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

Houthis attack two commercial ships, US destroyer — statement

Simultaneously, the Air Force conducted two more military operation using a huge number of drones to target a US destroyer in the Gulf of Aden

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

US waging hybrid war against Serbs to snuff them out for good — Republika Srpska head

"Republika Srpska comes under direct pressure and under constant US sanctions; and we are looking for ways to solve this problem," Milorad Dodik said

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"

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

Proper humanitarian assistance to Gaza impossible amid hostilities — Russian diplomat

"We are tired to repeat over and over again - amid the US-backed Israeli military operation, which has been going on for more than six months already, adequate assistance to the enclave’s population is simply impossible," Vasily Nebenzya said

Russia tasked with 'building new world' — Putin

Speaking at a plenary session of the Valdai Discussion Club, the Russian leader also highlighted "the role and responsibility" of its members

Attempts are made to turn Moldova into ‘second Ukraine’, Lavrov warns

The Russian foreign minister also said that Chisinau's behavior resembles role-playing

Russia’s victory in Ukraine to change course of history in Europe — von der Leyen

Ukraine "is carrying a heavy burden" for the benefit of the EU, and therefore EU member states must "provide Ukraine with means to defend themselves," European Commission president said

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"

Anti-Russian measures prove world cannot exist in unipolar diktat, envoy says

According to Anatoly Antonov, "the further it goes, the more America corners itself into a zugzwang"

Ukraine’s draft dodger makes attempt to cross Dniester into Moldova on air mattress

Men of conscription age try to leave the country in every possible way, often putting their lives at risk

Russian court blocks JPMorgan’s funds in VTB lawsuit

The court also blocked any securities held by JPMorgan’s entities in Russia

US arms supplies unable to change situation in Kiev's favor — Kremlin

Dmitry Peskov pointed out that a year ago the opponents "were telling everyone that they were waiting for the moment Russia would be defeated on the battlefield"

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.

Stockmann company to buy Russian business of Hugo Boss — Industry Ministry

All the existing Hugo Boss stores will be reopened in July - August 2024, Russian Deputy Minister of Industry and Trade Viktor Evtukhov said

Nearly 70 Israeli hostages killed in Gaza, Hamas says

A day earlier, Abu Ubaidah, a spokesman for the Hamas' Izz ad-Din al-Qassam military wing, threatened that hostages held in the Gaza Strip could repeat the fate of Israeli pilot Ron Arad, who was kidnapped 36 years ago

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

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

Russia to submit its own resolution on nuclear weapons in outer space to UNSC

Proposal for a UNSC resolution will take into account the results of the discussion of the US-Japanese document, as well as the progress on this subject, Russian Foreign Ministry Spokeswoman Maria Zakharova said

Senior Russian, Tajikistani diplomats talk about fighting terrorists, radicals

Russian Deputy Foreign Minister Alexander Grushko emphasized the importance of creating a new architecture of Eurasian security as one of the elements of a multipolar world

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

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Russia, Africa united by common vision on global issues — senior diplomat

Mikhail Bogdanov noted that "the African continent is a dynamically developing part of the world with an enormous growth potential, attractive domestic market and expanding export prospects"

Ukrainian army short about 150,000-200,000 troops, says Polish general

Waldemar Skrzypczak also said it was "a matter of hours" until Kiev received the weapons allocated by the US as part of its latest military aid package

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

Top Russian security official meets with counterparts at international security meeting

Nikolay Patrushev met with the heads of delegations from BRICS states

Agreements on security with Iran, Myanmar, Ethiopia to come into force in 2024 — MFA

"A whole number of similar agreements with Asian, African, Middle Eastern, Latin American countries are being worked out," Russian Deputy Foreign Minister Sergey Vershinin added

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"

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

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

Over 330 bodies recovered from mass grave at hospital in Khan Yunis — TV

According to the Al Mayadeen, more mass graves continue to be found following the withdrawal of Israeli troops

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

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

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

UNSC rejects amendment by Russia, China to resolution on nuclear weapons in outer space

The amendment gained seven votes from countries including Russia and China

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

Continued threats to Pyongyang to put US, allies in danger, Kim Jong Un’s sister warns

"We will keep building up overwhelming and strong military capacity to protect our sovereignty and security, as well as peace in the region," Kim Yo Jong said

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

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

Timur Ivanov was arrested by Moscow’s Basmanny Court

Niger would like Russia to train its troops — interior minister says

Mohamed Toumba noted that the training of troops could help in the fight against terrorism

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’s top brass reports destroying US-made Hawk air defense system in Ukraine operation

Russia’s Battlegroup South inflicted casualties on personnel and equipment of two Ukrainian army brigades and improved its tactical position over the past day, the Defense Ministry reported

Russian defense minister dismisses his deputy Ivanov

Timur Ivanov was removed from the office of deputy defense minister of the Russian Federation of the federal government’s civil service

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

Ukraine says Western systems ineffective against Russia's electronic warfare

Maria Berlinskaya emphasized that the real effectiveness was determined in real combat conditions, and not at "some training ground in Texas"

No response from West to killing of Izvestia war reporter Eremin — diplomat

The Russian war correspondent died of wounds suffered from a strike by a Ukrainian FPV drone on April 19