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RUSSIA'S ECONOMY

Putin signs law on new budget rule

The new budget rule is expected to come into effect in 2019

© Mikhail Klimentyev/Russian Presidential Press and Information Office/TASS

MOSCOW, July 31. /TASS/. Russian President Vladimir Putin signed a federal law on a new budget rule [mechanism of Russia’s budget forming, determining the maximum level of spending on the basis of oil prices - TASS] aimed to reduce the dependency of the federal budget on oil and gas revenues. The document approved by the State Duma on July 19 and passed by the Federation Council on July 25 was posted on the official web portal of legal information.

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Ex-finance minister: Russia should introduce new budget rule not earlier than in 2 years

According to the new rule, parameters of the national federal budget, expenditures in the first place, will be calculated on the base of 40$ per barrel price of Urals crude oil measured in 2017 prices, which will be annually adjusted by 2% from 2018. Only oil and gas revenues calculated from the base oil price, base export gas price, projected currency exchange rate, the amount of non-oil and gas revenues and sovereign debt service expenses may be allocated to federal budget expenditures.

The law stipulates consolidation of the National Wealth Fund and the Reserve Fund. Consolidation is anticipated in condition when the Reserve Fund is expected to deplete against dramatically declined oil prices over the past two years.

The new budget rule is expected to come into effect in full scope in 2019, with a transitional period provided in 2018.

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

Over 10,000 Polish nationals fought in Ukraine in 2022, politician says

According to Vladimir Rogov, expected changes in Poland’s legislation may highlight the country’s interests in Ukraine and its possible territorial claims to parts of western Ukraine

US’ Blinken to visit Israel amid rising tensions between two countries — NYT

Israel’s military upcoming operation in Rafah will also be on agenda, the New York Times reported

TotalEnergies expects gas price hike if Russian LNG falls under sanctions

Patrick Pouyanne expressed confidence that the European leaders understood that security of gas supplies depended on LNG and would not like to see a price crisis in Europe again until 2027

Polish leader cautions NATO allies against provoking Russia

Andrzej Duda slammed the reported instances of Russian missiles entering Poland's airspace as "a Russian provocation"

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

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

Damaged energy facilities not to be repaired in several months, says Ukrainian PM

According to Denis Shmygal, despite the repairs, the country's energy system is facing shortages

Russian gas production to gain 4.6% in 2024 — Economy Ministry

Pipeline gas exports are forecast to edge up by 7% to 108 bln cubic meters

Police checks reports of bomb allegedly planted at Russian embassy in Brazil — newspaper

The Russian embassy has not yet commented on the situation

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

The report hasn’t been officially confirmed

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"

Athens hold official hand-over ceremony of 2024 Olympic Flame to France

"Exactly three months before the Olympic Games begin, the Olympic flame has been handed over, transitioning from its Greek origins to the French stage, signifying the next chapter in its journey towards Paris," the statement reads

Hamas fighters have destroyed more than 400 Israeli vehicles — group’s senior member

Abu Ubaida, a spokesman for the Izz ad-Din al-Qassam Brigades, the military wing of Hamas, said the brigades had completely or partially destroyed 135 units of Israeli military equipment over the past three days

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"

Russian diplomat accuses US of facilitating chemical warfare in Ukraine

According to Russian Permanent Representative to the OPCW Vladimir Tarabrin, Russian troops have repeatedly recorded incidents where the Ukrainian army’s used chemical weapons, including riot control agents as means of warfare

Over 60% of Russian companies continue using Microsoft services

57% of companies replaced at least one foreign service with a Russian one over the past few years, the analysts noted

Russian subsidiary of JP Morgan scaling up Russian assets

The company tops the list of foreign investment banks in Russia in terms of the asset size

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

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

Poland practices transfer of mechanized brigade to Lithuania's Suwalki Corridor area

The exercise under the classified Orsha plan involves 1,500 military personnel from Lithuania's Zemaitija Motorized Infantry Brigade, Poland's 15th Mechanized Brigade, allied US and Portuguese units, as well as about 200 pieces of military equipment

Pelosi's remarks about US protesters undemocratic, Russian diplomat says

On April 25, US police said at least 127 people were arrested during large-scale protests on American university campuses against Israeli actions in the Palestinian enclave

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

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 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

Wreckage of US MQ-9 Reaper drone is of interest to Russian defense industry — Rostec

According to the US version of events, a pair of Russian Su-27 aircraft intercepted the MQ-9 while it was on a recon mission and dumped their fuel several times toward the drone

Israel eliminates one of al-Jamaa al-Islamiya commanders in Lebanon — IDF

The strike was conducted by Israel Air Force’s aircraft in the area of Meidoun in Lebanon

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"

Russia grateful to DPRK for unconditional support of special operation in Ukraine — MFA

Ivan Zhelokhovtsev said that the agreements that were reached during the DPRK leader's visit to Russia represent "evidence of the mutual desire of the sides to consistently implement and expand the rich heritage" that was passed down from previous generations

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

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

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

Diplomatic relations with Canada may be downgraded if Russian assets seized — ambassador

"All options are on the table, we will be guided by common sense and Russia’s interests," Russian Ambassador to Canada Oleg Stepanov said

Russia-Europe relations require fresh approach — Kremlin

Russia and Europe are geographically close anyway, Dmitry Peskov noted

US can send Ukraine Patriot air defense systems currently deployed in other regions

US National Security Advisor Jake Sullivan added that the his country had doubled artillery production in order to help Kiev

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"

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"

Chances of Baku-Yerevan conflict settlement higher than ever, Scholz says

The German chancellor emphasized that Berlin's "offer to lend support in finding a long-term and acceptable solution remains valid"

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

Russia may cut oil production by 1.2% in 2024 — Economy Ministry

The Russian oil export prices is expected in the base case at the level of $65 per barrel in 2024-2027

Hamas says it received Israel’s response to proposal on resolution in Gaza

The movement will analyze the Israeli proposal and will provide its own response afterwards, Hamas politburo member Khalil al-Hayya said

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

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

Official hand-over ceremony of 2024 Olympic Flame kicks off in Athens

The ceremonial lighting of the Olympic flame for the 2024 Summer Olympic Games in Paris took place in Ancient Olympia on April 16

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

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

Acording to Yury Popov, deputy chief of the Russian Center for Reconciliation of the Opposing Parties in Syria, apart from that, in his words, four violations of the deconfliction protocols of December 9, 2019

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

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

Kiev's attacks on ZNPP may trigger another Chernobyl — Zaporozhye governor

Tensions in the area of the Zaporozhye nuclear power plant and in Energodar, where the nuclear power plant is located, escalated at the beginning of the month

Lithuania’s prime minister warns US may curtail aid to Ukraine

Ingrida Simonyte called for getting ready for such a turn of events right away, and not just watch and wait

Russian defense chief points to West’s double standards on right to self-defense

In this regard, Sergey Shoigu mentioned the operation that Tehran carried out "in retaliation for a blatant attack on the Iranian consulate building in Damascus"

Russian aerospace forces hit two terrorists base in Syria’s Homs governorate

Yury Popov, deputy chief of the Russian Center for Reconciliation of the Opposing Parties in Syria, also said that one shelling attack on the positions of government forces was reported in the Idlid de-escalation zone from positions of the Jabhat al-Nusra

SCO expects Belarus to join the organization very soon — Shoigu

The Russian defense chief is certain that "this is an important moment in strengthening security in the SCO space"

Worst human rights situation currently observed in US, North Korean Foreign Ministry says

The spokesman also pointed out the claims of US officials about the "necessity of informational infiltration of Korea"

Russia may abolish gold export duty from June 1 — Finance Ministry

The law, introducing an extra coefficient to the mineral extraction tax for gold totaling 78,000 rubles ($848.8) per kilogram, will become effective at the same day

Financial watchdog blacklists I/We Sergey Furgal movement as extremist

In February, the Khabarovsk regional court recognized the movement as an extremist organization

Singapore Airlines resumes flights to Moscow starting from January 20

Flights will be carried out on Wednesdays, Fridays and Sundays

Bank of Russia keeps key rate at 16% per annum again

"The return of inflation to target and its further stabilization close to 4% assume that tight monetary conditions will be maintained in the economy for a longer period than previously forecast," the regulator said

Staff shortage cannot be covered by labor migration — Putin

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

Press review: Belarus' new national security strategy and Russia, US butt heads at UN

Top stories from the Russian press on Friday, April 26th

Medicine for Bekhterev’s disease may cause medical tourism to Russia — Health Minister

Previously, the media reported that the Russian Health Ministry registered the first treatment for the Bekhterev’s disease in the world

Bank of Russia does not rule out keeping key rate at current levels until year's end

The Bank of Russia also does not rule out raising the estimate of the neutral key rate in the near future

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

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

Russia fights West’s sanctions at UN for the sake of developing countries — envoy to UN

According to the diplomat, Russia is engaged in "fierce battles on this issue in different committees of the General Assembly"

Putin calls impending formation of new cabinet ‘crucial step’

The Russian leader pointed out that it is important to ensure stability and transparency in the Russian socio-political system

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 spokesman describes European Parliament as 'Russophobic machine'

Dmitry Peskov added that the EP "has turned into a machine brimming with internal contradictions that keeps generating boorish statements"

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

French neo-Nazi ringleader liquidated near Avdeyevka — sources

There is confirmed evidence of his connections with French secret services

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"

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

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

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"

US-oriented structures try to reformat security system in Asia-Pacific region

Russian Defense Minister Sergey Shoigu underlined that this is being done by strengthening "military-political structures such as QUAD, AUKUS and the US-Japan-Philippines triad"

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

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

Abrams tanks easy targets for drones — Russian expert

According to Dmitry Kuzyakin, "as long as there is a lack of direct communication between those who make the tanks and who use them, the Abrams will not evolve to meet modern warfare requirements"

Russian draft UNSC statement on Nord Streams sabotaged by West — Russian diplomat

According to Russian Permanent Representative to the United Nations Vasily Nebenzya, the Russian draft was "very balanced"

Tourists discover fragment of Iranian missile in Israeli desert

According to the report of the IDF press office, the discovered missile was of "surface-to-surface" type

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

Ship receives damage in missile attack off Yemeni coast — UKMTO

The Master has reported two attacks

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

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

Most countries in Global South wary of growing NATO influence — Lavrov

"Those may be right who, instead of playing this geopolitical game which NATO views as a zero-sum game, prefer to handle their domestic affairs," the Russian foreign minister noted

Miguel Salgado’s ‘Shame’ wins main prize at Moscow International Film Festival

The film is focused on two teenagers Pedro and Lucio, who are forced to fight each other to the death in order to survive after being abducted

Russia invites all countries to develop North - South transport corridor — Putin

"The North-South transport corridor should become an example of the broadest international cooperation," the Russian leader said

EU remains unreliable partner for Russia for now — Lavrov

Moscow hopes that Brussels will pay attention to its vital interests in the end, Russia's top diplomat said

UN bound to stay as unique world organization — Russian ambassador

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

EAEU trade turnover reaches record high level of $8.7 bln in 2023 — Russian Prime Minister

The trade turnover between Russia and Belarus reached 4 trillion rubles ($43.8 bln)

Scholz asks allies to find additional air defense capabilities for Ukraine

Germany is the second largest arms supplier to Ukraine after the US

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

Putin’s trip to China will rivet world’s attention, Kremlin spokesman predicts

The countries will jointly announce the time of this trip, Dmitry Peskov said

Erdogan’s May 9 visit to US postponed to more convenient date — Foreign Ministry

"The high-level dialogue between Turkey and the US will continue," the spokesman Oncu Keceli said

DPRK supports Russia in defending sovereignty, security — ambassador

The North Korean ambassador Sin Hong Chol praised the "sincere and excellent friendly relations" between Russian President Vladimir Putin and DPRK leader Kim Jong Un

Medvedev warns that Russia’s default may entail Europe’s default

Deputy Chairman of the Russian Security Council added that the European Union’s financial system is not very stable and people are losing confidence

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

Zelensky's presidential powers to expire May 21 — Ukrainian legislator

Alexander Dubinsky argues that the only situation where the president can continue to fulfill his duties after the expiration of his term is the period until the president-elected takes office

Russia has many questions for UN chief, Russia’s envoy says

Vasily Nebenzya said that he has "good personal relations" with the secretary general

Alrosa may leave Catoca project in Angola — Finance Ministry

Alrosa is working in Angola since 1992

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"

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"