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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

RUSSIA'S ECONOMY

Financial recovery of B&N Bank to last 6-8 months — Central Bank

Russia’s Central Bank will take ownership of at least a 75% stake in B&N Bank after the financial recovery procedure

© Mikhail Pochuev/TASS

MOSCOW, September 21. /TASS/. Financial recovery of B&N Bank with use of resources of the Banking Sector Consolidation Fund (BSCF) will last from six to eight months and will be broken down into two phases, the Bank of Russia said on Thursday.

Read also

The first stage will last from one to three months, with a temporary administration to appraise the financial standing of the bank "and form required provisions for possible losses, and perform property revaluation," the regulator said.

The second stage will last from three to five months and the financial recovery plan will be approved at that time. It will be implemented by the management company of the BSCF, the Central Bank said.

"The temporary administration issues shares, the nominal value of which should meet the new amount of equity value. This additional issuance is acquired by the Bank of Russia, following which the Bank of Russia becomes a shareholder with the ownership of at least 75% of ordinary shares," the Central Bank said.

Following the activities of the temporary administration, the rights of the present shareholders will be restored, while the share of the bank’s ordinary stock in their ownership will not exceed 25%. However, if the bank’s capital is negative, "the present shareholders will fully lose ownership rights," the regulator said.

Funds outflow

Deputy Chairman of the Bank of Russia Vasily Pozdyshev said the outflow of funds from individuals and legal entities from B&N Bank amounted to 56 bln rubles ($964.1 mln) in September. "We started discussing the need of having a plan for increase of financial stability of the bank last fall," the official said.

"In September, the outflow from B&N Bank reached 56 bln rubles ($964.1 mln), it includes deposits of individuals and legal entities. In general, however, all other banks of the group do not have a significant impact on the liquidity situation," Pozdyshev said.

"The situation where the decision would be backtracked is impossible. The Central Bank cannot afford to make a decision, make it public, guarantee citizens, creditors and counterparties solvency and financial support to one of the largest banking groups through the Banking Sector Consolidation Fund and then due to some circumstances backtrack the decision," Pozdyshev said.

Effect on Russia’s banking sector

Russia’s Deputy Finance Minister Aleksei Moiseev assumes that the rehabilitation of B&N Bank will require considerable funds, though he does not expect it to affect the country’s banking sector.

"This will be estimated by the supervisory department of the Bank of Russia," he said, adding that "taking into account the size of the bank, the funds will probably be considerable as well."

When asked how the bank’s rehabilitation will affect Russia’s banking sector he said: "It will not."

Liquidity shortage

According to Pozdyshev, B&N Bank has liquidity shortage now but it is not as large as it was with Otkritie Bank.

"Comparing to the previous situation with Otkritie, the bank has liquidity shortage but it is not so huge. The question is, how long it will last," Pozdyshev said.

B&N Bank has many sources for liquidity, the official added.

IEA upgrades outlook on oil demand growth for 2024 to 920,000 bpd

Global oil demand will total 102.8 mln barrels per day (mbd) in 2024

ISS orbit raised by almost 5 km before launch of Progress MS-29 spacecraft — Roscosmos

According to preliminary information, the ISS’s average orbit was increased by 4.9 km to 417.2 km above Earth

Kiev wants to mobilize 160,000 people to survive until Trump's inauguration — MP

According to Alexander Dubinsky, the authorities in Kiev are primarily focused on securing more of the funds allocated to them

Demographic crisis threatens Ukraine’s viability as state — think tank

Ukraine’s "overall population had declined to 29 million people in 2023 - compared to 48.5 million in 2001," Responsible Statecraft writes

Kiev's Western allies begin to acknowledge need for territorial concessions — report

The diplomats see this approach as "land in exchange for Ukraine’s security"

Putin discussed Ukraine with Saudi crown prince — Kremlin

"The sides indeed touched upon the topic of the conflict. We have nothing more to say," Dmitry Peskov said

Russia has written off $20 bln worth of African debts — MFA

Mikhail Bogdanov added that it allows using those debts "to implement socio-economic projects directly in the country"

Ukraine targets medics and journalists as priorities — military doctor

Santa noted that the medic’s red cross draws the attention of Ukrainian troops, so affiliation patches on uniforms must blend in, and identifying marks are also not applied to evacuation vehicles

Israel achieves its goals in conflict with Hamas, time to 'end the war' — Blinken

"Israel, by the standards it set itself, has accomplished the goals that it set for itself," the US Secretary of State noted

Scholz promises to transfer sixth IRIS-T system to Kiev by yearend

Ukraine and Germany also discussed further defense cooperation

Businessmen in Germany, Russia again eager to interact more, says executive

Ulf Schneider expressed his gratitude to representatives of the Russian business community for their continued efforts to involve Western businessmen in work in Russia despite the challenging political climate

Russia ready for contacts with Trump administration, ball is in US court — Lavrov

At the same time, he emphasized that Russia has no expectations from the new US administration, but will assess its concrete steps

Kremlin comments on possible return of Japanese, European cars to Russia

No official statements have been received so far from European automakers regarding the return to the Russian market, Dmitry Peskov noted

Russian president himself deals with issue of Ukraine, there is no special envoy — Kremlin

"We have no special envoy for this," Dmitry Peskov responded to a question about Russia’s plans to appoint a special envoy on Ukraine, similar to the United States

Clear Zelensky won't be the one to decide about talks with Russia, says Lavrov

"Russian President Putin has repeatedly said that we have never refused to negotiate," the Russian foreign minister reiterated

Court sentences ‘Russian Volunteer Corps’ members to life in prison in absentia

According to the investigation, the defendants, acting as part of a Ukrainian sabotage group, armed with firearms and explosives, illegally crossed the Russian border and infiltrated two settlements in the Bryansk Region, opening fire at civilian cars and people

Press review: US to maintain aid to Israel while Kiev regime faces challenge to retain it

Top stories from the Russian press on Thursday, November 14th

Press review: Trump forms foreign policy team and Europe sets course for militarization

Top stories from the Russian press on Wednesday, November 13th

What is known about Sevastopol car blast

Sevastopol Governor Mikhail Razvozhayev did not rule out the possibility that the incident was the result of sabotage

Trump to rely on forces that brought him to power — Russian presidential aide

Nikolay Patrushev agreed that Trump, when he was still a candidate, "made many statements critical of the destructive foreign and domestic policies pursued by the current administration"

Borrell calls on EU to play ‘military role’

"Trump's re-election should make it clear to us that Europe should bolster its security and take its destiny into its own hands," EU’s outgoing top diplomat said

Finnish government requests EU sanctions exemption for Russian owners of sports arena

Finland's Foreign Ministry will need to obtain unanimous approval from EU countries

Trump's planned key appointments

Trump appointed Congressman Michael Waltz (Republican, Florida) as national security adviser

Russia to ensure parity in response to US missile defense system in Poland — Kremlin

Dmitry Peskov emphasized that by placing the missile defense system in Poland, the United States is bringing its military infrastructure closer to Russia in an attempt to curb its potential

Russia, US have many annoyances, it is hard to pick worst one — Kremlin spokesman

Earlier, Russian Prime Minister Mikhail Mishustin met with UN Secretary-General Antonio Guterres in Baku

Violence against Kupyansk residents refusing to evacuate reported in Kharkov Region

The press service of the Military-Civil Administration of the Kharkov Region clarified that the Ukrainian militants view such people as traitors, "waiting for the Russians," so they are not entitled to either humanitarian aid or human dignity

Next-gen Su-57 shows strength of Russia’s defense sector — diplomat

Maria Zakharova pointed out that military experts had praised the "unmatched capabilities" the plane displayed at the Airshow China in Zhuhai

Man who died in blast in Brasilia tried to carry bomb into court building

According to Brasilia's Deputy Governor Celina Leao, the man has not yet been identified because there are explosive devices on his body

European Commission gives ‘positive assessment’ for payment of 4.1 bln euros to Kiev

The commission concluded that Ukraine had satisfactorily fulfilled the nine agreed reform indicators for this payment

Russia to collaborate with Arab nations for Middle East de-escalation — diplomat

"A call was made to the international community to contribute to the achievement of this goal," Maria Zakharova added

Russian politician condemns destruction of dam on Kurakhovo reservoir as Kiev’s terror act

Earlier, military sources told TASS that Ukrainian forces sank their own positions in a low-lying area near Kurakhovo as they blew up the dam, killing at least 10 Ukrainian soldiers

Trump does not rule out he may run in next US presidential election

Trump's participation in the next US election would be against the Constitution

Too early to talk about meeting between Assad, Erdogan — Russian diplomat

"Certain communication is maintained between the defense ministers, in the four-lateral format," Alexander Lavrentyev said

Russia keeps building defense capacity despite conflict in Ukraine — Polish general

According to Wieslaw Kukula, if the conflict in Ukraine ends soon, Russia will be able to build up its defense capacity to the point that it could take on all of NATO

Russian Marines destroy Challenger 2 tank with FPV drone in Kursk Region

Previously, the Russian Defense Ministry reported that the enemy lost 10 tanks in the Kursk region in the past 24 hours

Japan remains ready to sign peace treaty with Russia — top diplomat

After Tokyo imposed anti-Russian sanctions over the situation in Ukraine, Russia halted consultations with Japan on a peace treaty

Russian troops liberate Rovnopol community in Donbass region over past day

Russia’s Battlegroup North destroyed an UAV (unmanned aerial vehicle) production workshop of the Ukrainian army and inflicted roughly 110 casualties on enemy troops in its area of responsibility in the Kharkov Region over the past day

West to face 'devastating' response if it allows Kiev to strike deep into Russia — MFA

According to Maria Zakharova, Ukrainian social media accounts are meanwhile speculating that the Zelensky regime plans to present the received Western missiles as Ukrainian, changing the labels to use the weapons to attack Russia

US denies possession of extraterrestrial technologies

According to Sue Gough, the All-domain Anomaly Resolution Office, an office at the US Department of Defense that investigates unidentified anomalous phenomena, "is continuing its review of the historical record of US government UAP programs"

Ukrainian forces ready to withdraw from Kurakhovo, but no order yet — serviceman

According to the report, the Russian army is "attacking from three sides"

Ukraine's Kurakhovo Reservoir dam blast to help, not hurt Russian troops — expert

At least ten Ukrainian troops were killed

Trump to push Zelensky to start talks, reject NATO membership — expert

Tetsuo Kotani also argued that, if Moscow and Kiev reach a ceasefire agreement, Washington will push for a negotiated settlement of the conflict

Russia's newest Su-57 fighter jet superior to China's new J-35 — test pilot

Sergey Bogdan emphasized that the newest Russian fighter was a "magnificent platform for a future generation of configurations, just as the Su-27 aircraft in its heyday"

US shells for handful of Kiev’s Pion howitzers no game-changer — expert

Ukraine ran out of the Soviet-made ammunition for this type of artillery pieces back in 2022

Trump to zero in on fragmenting BRICS, Ukraine to take back seat — expert

According to the political scientist Boris Mezhuyev, in all likelihood attempts to replace the presidents of Brazil and Venezuela, and pit India, Russia and China against each other are coming

Ukrainian losses: situation in Kursk Region

Over the day, the enemy lost more than 430 troops, ten tanks, two infantry fighting vehicles, 19 armored combat vehicles, 33 motor vehicles, one Anklav-N electronic warfare station

Ukrainian losses: situation in Kursk Region

Over the day, the enemy lost more than 450 troops, two tanks, three IFVs, two M113 armored personnel carriers, 33 armored combat vehicles, five artillery pieces, including a Krab self-propelled howitzer, a Crotale multiple rocket launcher, and 49 motor vehicles

Baltic Sea will never turn into 'NATO lake' — Russian MFA

Maria Zakharova emphasized that the Baltic Sea "will always be a common space for all of the region’s countries without exception"

Grossi oversteps authority by talking about freeze of Ukraine conflict — Russian MFA

The Russian diplomats also said that IAEA experts will stay at the ZNPP as long as Russia deems their presence there necessary

Trump plans to appoint special envoy on Ukraine to hold peace talks with Russia — TV

According to the source, the job is not expected to be a salaried role

Medvedev characterizes Great Britain as eternal adversary of Russia

"At least until such time as their arrogant, despicably dank island sinks into the abyss of the sea from a wave triggered by a cutting-edge Russian weapons system," the politician said

Ukrainian intel officers in Syria to be eliminated as terrorists’ accomplices — diplomat

According to Alexander Lavrentyev, there are "in fact Russian troops stationed" in Syria

Erdogan praises Russia, China for backing arms embargo on Israel

According to the Turkish leader, Israel "will become more and more aggressive if arms and ammunition supplies continue"

Lukashenko tells Putin situation is "starting to get tense with Wagner"

The Belarusian leader noted that they want to go to Warsaw

Turkey invited to join BRICS as a partner state, says minister

Omer Bolat recalled that at the last BRICS summit in Kazan, the sides "considered the applications of Turkey and several other countries"

54 countries vote against resolution on combating ne-Nazism

116 countries, including Azerbaijan, Algeria, Armenia, Belarus, Bolivia, Brazil, China, Cuba, Serbia, and Syria, supported the document

Su-57 fighter jet shows exceptional performance in Russia’s special op, senior official

A Su-57 multirole fifth-generation fighter jet (NATO codename Felon) was designed to eliminate all air, ground, and water surface targets

Two injured in bridge collapse in Crimea

"A car and a truck were on the bridge at the moment of collapse. Russian Emergencies Ministry rescuers retrieved two injured people," the ministry said

Chancellor Scholz opposes assistance to Ukraine at expense of Germany’s future

According to the German chancellor, Berlin’s assistance to Kiev should not affect the retirement benefits of German citizens

Russian Battlegroup North artillery units hit Ukrainian weapons, manpower in Kursk Region

"Crews of D-30 122mm howitzers of the Battlegroup North’s artillery unit struck Ukrainian artillery and mortar systems and manpower in a Kursk Region’s border area," the Russian defense ministry said

West criticizes Russia's growing ties with Caspian region countries — presidential aide

Nikolay Patrushev emphasized that the United States and the European Union are making "efforts to dismantle relations between these states, undermine their political and trade cooperation”

Russia to hold Astana-format summit in 2025 — Russian diplomat

Alexander Lavrentyev noted that despite the fact that the exact date of the summit has not yet been agreed upon, meetings in the Astana format are held regularly at other levels

Trump’s return to power unlikely to change US approach to Ukraine crisis — Lavrov

Washington will always seek to control everything that is happening within NATO’s orbit, especially on NATO territory, the Russian foreign minister said

Kiev may offer Trump resources, partial rotation of US troops in Europe — official

Mikhail Podolyak also expressed Kiev's hopes that the newly elected US president would impose stricter economic sanctions on Russia, particularly in the oil industry, if not provide direct military support

Musk doubles down on his opinion about 'endless war' in Ukraine

Earlier, the entrepreneur opined that the bloodshed in Ukraine would end soon

Crimean amateur astronomer discovers new comet in solar system

In April, the astronomer said that he had discovered a large asteroid with a diameter of about 200 meters, potentially dangerous for the Earth

Russian researchers discover previously unknown ancient tomb near Great Pyramid in Egypt

According to the statement, so far, a small hole has been cleared, through which one can see the remains of a wooden, painted sarcophagus, intact ceramic vessels—typically used for supplies the deceased would need in the afterlife—and other items lying in the burial chamber

Bulgarian president calls for using all diplomatic opportunities to end Ukraine conflict

According to Rumen Radev, Europe wants the conflict in Ukraine "to finish as soon as possible"

Western efforts to vilify Russia climax, Moscow fights back — MFA

"We are witnessing the culmination of the Anglo-Saxons' systematic efforts to vilify our country, exerted over decades, and maybe even centuries," Maria Zakharova said

There is chance to stop war in Middle East under Trump — Russian diplomat

"It is too early to talk about this because we should wait at least for the president’s inauguration," Alexander Lavrentyev noted

People evacuated from Brazil’s Supreme Court after blast nearby — agency

According to Reuters, Brasilia’s military police confirmed that a body was found near the court building

Attempts being made to drag Syria into armed confrontation in Middle East — diplomat

According to Alexander Lavrentyev, the top priority today is to prevent such attempts

Countries will line up for Russian gas when US stops exporting LNG — Serbian president

According to Aleksandar Vucic, Washington will use LNG "for the growing consumption of artificial intelligence, electric charging stations and everything else"

Russia’s Vityaz, Viking air defense systems attract major attention at Airshow China

Russian surface-to-air missile systems have demonstrated their value in the special military operation in Ukraine, Vyacheslav Dzirkaln noted

Lavrov likens proposals to freeze Ukraine crisis to worse version of Minsk agreements

"The Minsk agreements were final. If anyone had bothered to realize at the time that they were exactly that. We were talking about a small part of Donbass, if we are being totally honest," the minister continued

US views Russia as present-day threat, Trump may prioritize containing China — Lavrov

The Russian foreign minister stressed that reputation matters the most to the United States which does not care about the real fates of peoples, in particular the Ukrainian one

Ukraine aims to call up 1 mln people in eastern areas by end of 2024 — official

According to the plan, 360,000 people are to be mobilized in October; 325,000 and 300,000 in November and December, respectively

US missile defense base in Poland to defend US, Europe alike — Polish foreign minister

Radoslaw Sikorski also expressed hope that the base will never go into action

Tehran to retaliate against anti-Iran resolutions at IAEA — official

Tehran views the approach of the United States and the European troika to the situation surrounding Iran's nuclear program as hostile

Explosion of Kurakhovo reservoir dam disrupts water supply

Roman Pukalov noted that the blast killed many fish in the reservoir, washed away fertile soil, and inundated potentially hazardous sites, including cemeteries, cattle burial grounds, and fertilizer depots

Russian diplomat hails Odessa woman as defender of truth after flag protest

Yelena Chesakova attempted to hang the Russian flag on the pedestal of the dismantled monument of Catherine the Great in Odessa, taken down in 2022, in October of this year

Pilot lauds thrust, aerodynamics of smooth-flying Su-57 fighter jet

According to Sergey Bogdan, this fighter jet flies smoother than anything out there today

Trump to end NATO’s obsession to get on Russian territory — White House ex-strategist

Steve Bannon noted that Trump’s MAGA (Make America Great Again) movement seeks to completely cut funding to Ukraine. According to Bannon, Europe, including Italy, will follow Trump’s lead, and, if "they [Europe and Italy] truly believe what they have been saying in recent years, they should be ready to pay"

Russia open for contacts with Trumps’ team on Syria — Russian diplomat

Alexander Lavrentyev stressed that all parties to the conflict must be involved in talks so that a lasting peace in Syria could be achieved

Russian troops storm into Kupyansk outskirts in Kharkov Region — military expert

Troops from various Russian army units are engaged in battles in the outskirts of Kupyansk, Andrey Marochko said

Russian forces liberate Voznesenka community in Donbass region over past day

Russia’s Battlegroup South inflicted roughly 655 casualties on Ukrainian troops and destroyed three enemy tanks in its area of responsibility over the past day, the Defense Ministry reported

Russian forces gain foothold near Kupyansk as Kiev begins to retreat

Earlier, Russian President Vladimir Putin noted two significant blockages of Ukrainian troops near Kupyansk, involving more than 15,000 military personnel

Medvedev warns that EU behavior in struggle with Russia fraught with 'bad scenario'

According to the Russian Security Council Deputy Chairman, European leaders are experiencing "autumn blues" after Donald Trump's victory in the US presidential election

Trump’s victory to make Seoul reconsider shipping arms to Ukraine — news agency

It is reported that Seoul is also looking at how Trump’s approach to the war will affect support for Ukraine among a range of countries

First S-550 air defense systems enter service in Russia — source

The source described the new system as "an absolutely new and unrivalled mobile system of strategic missile defense"

Iraqi Shiites say they attacked ‘vital targets’ in Israel

According to the organization, attacks on "vital targets" in the city of Eilat in Israel’s south and in the country’s norther areas were staged with the use of drones

Most Russians say special op doesn't bleed into their daily life

While public anxiety remains high, the percentage of Russians who view the situation as catastrophic or as a crisis has noticeably decreased, and the share of citizens who accept the current circumstances as a new normal is rising

Russian Su-34 bomber strikes Ukrainian troops in borderline Kursk area

Russian tactical aircraft pilots conduct sorties at any time of day or night in any weather conditions, using various armament

South Korea to support Ukraine in response to Russia-North Korea alliance — president

As Yoon Suk Yeol said, the reported dispatch of North Korean servicemen to participate in Russia’s special military operation "poses a serious security threat not only to the Korean Peninsula and Europe but also to the entire world"

Zelensky will lead Ukraine to civil or nuclear war rather than surrender power, legislator

Alexander Dubinsky explained that Zelensky would by no means benefit from the end of the conflict, because in that case, its net effects would have to be assessed

Elections can be held in various ways, Lavrov on Ukrainian situation

"We can only assess the legitimacy of an electoral process once it has taken place and we observe how it was organized," the top Russian diplomat emphasized

US plans to remove 'arrogant' Zelensky and stage 2025 elections in Ukraine — SVR

"At the initial stage, it is planned to encourage entities within the Ukrainian civil society under their control, through US 'democratization' foundations and think tanks, to come up with a corresponding initiative," the statement reads

Russian troops secure ground near Novodarovka, Rovnopol in Zaporozhye Region — official

On November 13, the Russian Defense Ministry reported that the Russian Armed Forces had liberated the settlement of Rovnopol in the Donetsk People’s Republic (DPR), located near the administrative border with the Zaporozhye Region

Russia inks first deals to deliver Su-57 fifth-generation fighter to foreign customers

Alexander Mikheyev also explained the expectations and effect of the demonstration of Russian military hardware at Airshow China in Zhuhai

US administration always seeks to weaken Russia — Lavrov

The foreign minister pointed out that the Americans had long declared the idea that "there should be no country in the world more influential than the United States"

US has no technical need to conduct nuclear tests, senior official says

According to Jill Hruby, officials in the Biden administration "never talk about resuming nuclear tests"