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RUSSIA'S ECONOMY

Russia’s Central Bank adds yuan to reserve currency basket — sources

According to the sources, the share of Russian reserves in yuan in the near future will remain small and symbolic

© AP Photo/Vincent Yu

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IMF may consider adding yuan to its currency basket in December

MOSCOW, November 27. /TASS/. Russia's Central Bank has added the Chinese yuan to the foreign exchange reserve basket, two sources close to the bank told TASS. They added the bank does not plan purchasing operations of yuan-nominated assets in the near future.

According to the bank’s third quarterly report for 2015, on December 31, 2014, the share of US dollar in the Russian reserves was 44%, euro accounted for 42% and British pound — for 9.5%. The reserves also include smaller amounts the Canadian and Australian dollars, the Swiss frank and the Japanese yen.

According to one of the sources, the decision to add the yuan was made in mid-November.

Both sources said that the Central Bank has not carried out any operations on physical buying of the yuan yet.

"The Central Bank has added the yuan to the basket of reserve currencies," one of the sources said.

According to both sources, the share of Russian reserves in yuan in the near future will remain small and symbolic.

The press service of the Central Bank said that the composition of reserves is officially unveiled with a six month delay.

The Moscow Exchange, where the Central Bank could theoretically buy currencies for reserves, began to trade in yuans in late 2010.

Since then, the volume of trading in this currency has significantly increased.

In August, trading volume grew 4 times year-on-year to an absolute maximum and amounted to 18 billion yuan (191 billion rubles - $2.8 bln).

Purchases by the regulator will increase the demand for the Chinese currency.

The Russian authorities announced a turn to the East, after the country found itself under sanctions of Western countries following the events in Ukraine. The sanctions in particular deprived Russia of the access to Western capital markets and technologies for developing hard-to-reach oil and gas deposits.

Russia and China plan to sign an agreement that will allow the two countries to build the necessary infrastructure to buy assets denominated in national currencies.

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Earlier than IMF

The decision of Russia’s Central Bank anticipates a possible decision of the International Monetary Fund (IMF), which is expected on November 30, to include the yuan in the basket SDR (Special Drawing Rights — international means of payment issued by the IMF).

The composition of the SDR basket, consisting mainly of the US dollar, euro, pound sterling and yen, determines the currency composition of the loans to countries which need the assistance of the fund.

Analysts with the IMF considered that the share of the yuan in the SDR basket could be around 14-16%.

Russia ranks seventh in terms of volume of foreign exchange reserves after China, Japan, Saudi Arabia, Switzerland, Taiwan and Korea.

The Central Bank invests the reserves in bonds of the countries that issue reserve currencies.

As of November 26, the Russian gold and foreign exchange reserves stood at 364.5 billion dollars. The Central Bank plans to increase reserves to $500 billion within 5-7 years.

According to one of the sources, several members of the bank’s board were against the inclusion of the yuan in the basket. First Deputy Chairman of the Central Bank Ksenia Yudaeva said that the yuan cannot be used in the formation of international reserves due to its non-reserve status.

According to the common international practice, the currency used for the investment of reserves should be free floating. For the moment the Yuan is not a freely floating currency, however, according to the People's Bank of China, it is moving towards "free circulation".

In conditions of a free floating exchange rate regulators do not enter the market with interventions - in other words they don’t sell or buy currencies, aimed at maintaining a certain exchange rate.

Russia’s Central Bank, which moved to a free floating exchange rate in late 2014, buys and sells currency on the market in order to smooth currency rate fluctuations.

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Central Bank of Russia Economy IMF Currency

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Earlier, the Russian Armed Forces carried out a precision strike on Ukraine’s Yuzhmash defense industry facility in retaliation for the use of US-and UK-made weapons for strikes on Russia

Ukrainian defense line in Donbass may soon collapse — expert

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Zelensky begs ‘for his country to be flattened’ — US journalist

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Ukraine should consider territorial concessions to Russia in return for peace — magazine

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US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

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Trump to tap Richard Grenell as US special envoy on Ukraine — agency

Grenell would play a key role in Trump's efforts to halt the conflict if he is ultimately selected for the post

Japanese lawmaker praises Putin's restraint amid decision to strike deep into Russia

Top EU diplomat Josep Borrell confirmed that the US administration had lifted restrictions for US-supplied missiles to be used for strikes up to 300 kilometers inside Russia

Biden’s decision to use ATACMS against Russia may 'blow up in America’s face' — US expert

According to Daniel Davis authorizing US long-range weapons to be used against Russia is "foolhardy to the highest order," "especially because there is no military upside for doing so"

Zelensky fine with conflict continuing due to Western help — Slovak PM

Robert Fico pointed out that "more and more evidence show that the West seeks to prolong the war in Ukraine for various reasons"

West builds up military presence near Russia’s Arctic borders — presidential aide

According to Nikolay Patrushev, the "imposed sanctions restrictions are aimed at thwarting the implementation of Russia’s Arctic projects"

BRICS partnership format in UNESCO sparks interest of other countries — Russian envoy

Russia’s presidency of the integration will pass to Brazil this year, the diplomat said

US decision to allow missile strikes deep into Russia fuels global escalation — Slovak PM

Robert Fico also rejected the belief that this escalation would not impact "those living far away, in Spain, England, or America"

Trump seeks to restore peace in entire world — transition team on Putin’s address

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Putin’s remarks on hypersonic missiles send serious warning to West — Turkish politician

According to the Russian president, it can install a nuclear warhead on this missile, if necessary, Deputy Chairman of Turkey’s Patriotic Party Hakan Topkurulu said

Kremlin confident Putin's statement got through to US administration

Russian President Vladimir Putin said on November 21 that the United States and its NATO allies had earlier announced that they would authorize Ukraine’s use of long-range weapons to hit inside Russia, after which American and British missiles struck Russian military facilities in the Kursk and Bryansk regions

Putin stays open to contacts to reach 'peaceful track' — Kremlin

Russian President Vladimir Putin delivered a televised address to the nation on November 21, announcing that in response to the West’s decision to authorize strategic-depth strikes on Russia, Moscow used its new Oreshnik medium-range hypersonic ballistic missile for the first time

Tehran to launch new centrifuges in response to IAEA anti-Iran resolution — statement

The measure is taken in response to the anti-Iran resolution adopted by the International Atomic Energy Agency Board of Governors on Thursday

Japanese government refrains from commenting on Russia’s latest hypersonic missile

At the same time, Chief Cabinet Secretary Yoshimasa Hayashi once again criticized Russia’s actions in Ukraine

Russia's Oreshnik missile poses significant threat to West, Turkish expert warns

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Oreshnik can reach targets across entire Europe — missile troops commander

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Press review: Russia fires missile at Ukraine plant and Biden forgives Kiev $4.65 bln debt

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Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

According to th statement, London is promoting new rounds of escalation

State Department says Russia, China maintain forward momentum in bilateral relationship

Moscow and Beijing 'have maintained forward momentum in their bilateral relationship', Kurt Campbell said

Russia’s Oreshnik has no analogues worldwide — Putin

"We know what kind of developments are being carried out there, but this will happen tomorrow or in a year or two, but we have such a system already today," the president said

Oreshnik missile to change course of Ukrainian conflict, Medvedev believes

Russian Security Council Deputy Chairman Dmitry Medvedev said it in an interview

Russian strategic missile forces to be equipped with advanced weapon by 95%

"A large-scale investment program for expanding production capacities at defense sector organizations is being implemented", Vasily Tonkoshkurov said

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Maria Zakharova quoted the US Senator, who called the ICC a "Kangaroo court" and ICC Prosecutor Karim Khan a "deranged fanatic"

Defense ministers of five European nations to meet in Berlin on November 25

The French interior ministry said earlier that an emergency meeting of the NATO-Ukraine Council will be held on November 26 following Russia using its new missile against a Ukrainian defense sector facility

Russian ambassador says UK prime minister doesn’t understand situation in Ukraine

Turning to the Labour Party’s domestic policies, Andrey Kelin said Starmer’s plans to spur the economy were "not met with applause by the population

Western air defense systems unlikely to intercept Russian missiles — France’s Le Monde

According to the French military source, Russia's recent use of the Oreshnik intermediate-range ballistic missile should be taken in the context of possible negotiations regarding the ongoing Ukrainian conflict

IN BRIEF: What Putin said about Russia’s new missile, and Moscow’s response to the West

Moscow used its new Oreshnik medium-range hypersonic ballistic missile in response to the West’s decision to authorize strategic-depth strikes on Russia

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Russian forces gain foothold in Chasov Yar’s industrial zone — expert

The units of the Ukrainian armed forces have created "a very serious defense line" along the railroad and along one of the streets of the settlement, military expert Andrey Marochko told TASS

Ukraine was warned about possible missile strike — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh gave no answer to the question of how could Ukraine prepare for this kind of attack

US expects Russia-North Korea cooperation to be formidable challenge in coming years

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NATO enters conflict, Russia has every right to attack its targets now — expert

Col. (Ret.) Lawrence Wilkerson confirmed to TASS that the launch of ATACMS missiles would be impossible without "US/NATO satellite feeds and/or personnel"

Enemy has no countermeasures for Russia’s Oreshnik missile — Putin

Speaking in a televised address, the head of state assured that Russia will issue notifications before using this type of missile

Russia hammers Ukrainian military-industrial facilities, energy sites over week

Russian forces liberated seven communities in the Donetsk People’s Republic over the past week, the Defense Ministry reported

Russia’s steel production plunged in October — WSA

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Bundeswehr prepares plan for Operation Germany in case of war with Russia — newspaper

According to it, the 1,000-page "Operation Germany" plan lists all infrastructure facilities that deserve special protection, and also contains a procedure for defense or "measures to deter Russia on NATO’s eastern flank"

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Israel carries out four strikes on building in Beirut

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German politician slams Ukraine’s ‘irresponsible’ strike on Russia with UK-made missiles

"A diplomatic search for balance and mutual understanding should be the goal, instead of further escalation," Alice Weidel said

Putin’s recent statements reflect long-standing policy, expert says

Putin’s position can be traced back to his 2007 address at the Munich Security Conference, Tiberio Graziani says

Signal to West and 'red card': experts weigh in on Putin’s missile launch statements

The important message in Vladimir Putin’s speech was that "Russia does believe that the West has shifted from a proxy-war to direct war" and that the parties find themselves in "a global conflict" now, Dmitry Suslov said

Russia entitled to use weapons against military sites of states attacking it — Duma

"Russia has repeatedly stated that such actions will receive a response – and it will be a stronger one," Duma Speaker Vyacheslav Volodin stressed

Commissioning of Oreshnik and new developments: Putin’s meeting with defense specialists

Here are the key statements, made during the meeting

Putin says Oreshnik missile system cutting-edge innovation by Russia, not Soviet byproduct

The Russian Defense Ministry announced earlier in the day that the country’s latest Oreshnik intermediate-range ballistic missile hit all the targets at a major Ukrainian military-industrial enterprise in Dnepr (Dnepropetrovsk) with its MIRVed warheads

Houthis say they attacked Israeli military base with hypersonic missile

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Russian servicemen control 30% of Chasov Yar in DPR — expert

According to military expert Andrey Marochko, 10% of the territory is the so-called grey zone

Putin's speech shows West that Russia won’t waver, is ready for any scenario — expert

Dmitry Suslov pointed to a crucial message in the President's speech: "Russia firmly believes that the West has moved from a proxy war to a direct war" and that the sides are already "in a state of global conflict"

Biden’s actions on Ukraine meant to 'muck things up' for Trump — Lavrov

According to the Russian foreign minister, such behavior is "typical of the Democrats"

Trump’s transition team says Manhattan Case against president-elect discontinued

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Decision on strikes inside Russia seals US puppet Zelensky’s fate — commentator

The New York Times reported earlier, citing sources, that US President Joe Biden had authorized the use of US-made ATACMS tactical ballistic missiles for strikes inside Russia

Ukraine loses up to 160 troops in battlegroup East’s responsibility area — top brass

Units of the Russian battlegroup East continue fulfilling military tasks in the area of the special military operation

Taiwan reports 25 Chinese aircraft, 7 ships approaching island

The Taiwanese army responded by employing aircraft, navy vessels, and coastal missile systems to monitor the targets

Zelensky to have no input if Russia, US negotiate, ex-Prime Minister says

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Trump to name investor Bessent as Treasury Secretary

Janet Yellen currently holds the position

Russia’s re-election to UNCITRAL confirms its global reputation — Foreign Ministry

Russia got the support of 129 countries in a November 20 vote in New York at the 40th plenary session of the UN General Assembly

US not seeking confrontation with Russia, but will continue assistance to Kiev — Pentagon

Department of Defense Deputy Press Secretary Sabrina Singh also claimed that Washington, while helping Ukraine, is not attempting to turn the conflict into a large-scale regional confrontation that spills beyond the country’s borders

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

The Belarusian leader noted that they want to go to Warsaw

Belarusian president believes humanity is on the brink of World War III

Alexander Lukashenko also emphasized that a real information war has been underway for a long time

Russia encircles largest Ukrainian fortification in southern DPR — security services

"The enemy positioned in the fortified area in Velikaya Novoselka in the south of the DPR is already trapped in a kill zone," the source said

Russian air defense deflects attacks with Western missiles — Putin

"As a result, the goals that the enemy apparently set have not been achieved," the Russian leader said

Russian forces cut off key Ukrainian supply route in Velikaya Novoselka, DPR

According to the security services, Ukrainian troops still have access to several unpaved roads, which are also under Russian fire control

Lukashenko grants asylum to Schmidt persecuted on political grounds by Poland

The head of state also approved citizenship applications from foreign nationals and stateless persons residing in the country

US, European officials suggest returning nukes to Ukraine — NYT

US officials believe that ramping up weapons supplies to Ukraine is unlikely to change the situation in the combat zone short term, but it may help Kiev strengthen its stance in case a truce is reached

India, Russia discuss defense industry within military cooperation commission

The meeting was co-chaired by India’s Secretary (Defense Production) Shri Sanjeev Kumar and Russia’s First Deputy Director of the Federal Service for Military Technical Cooperation Andrey Boytsov

Ukraine conflict entering decisive phase, Polish PM says

According to Donald Tusk, "no one knows how the conflict will end"

Zelensky’s actions make Ukraine vulnerable to coup, says politician

"Democratic institutions in the country have been destroyed, rendering dialogue between the government and the people impossible," Viktor Medvedchuk said

Bulgarian politician sees Oreshnik missile strike as wake-up call for peace

"European politicians need to think twice about what they do next, especially since Donald Trump, who will take office in two months, replacing the current White House occupant, has already expressed his commitment to the policy of peace," Krasimir Karakachanov said

Kremlin clarifies notification process for Oreshnik missile launch

"An automated warning was sent 30 minutes before the launch," Dmitry Peskov said

US, West have no capabilities to intercept new Russian hypersonic missile — expert

"There is more in the Russian arsenal than many believe," said Karin Kneissl, the former Foreign Minister of Austria

Putin to address parliament next year, preparations underway — Kremlin

"Certainly, it is being prepared in advance, this is a lengthy process," the Kremlin official said

Zelensky shook up by Russia’s response to permission to attack it — Lavrov

According to the Russian foreign minister, the West is directly involved in the use of long-range weapons against Russia, as not a single missile could be launched without its involvement

Russia forced to roll out new weapons as West fuels conflict, Minsk says

According to Belarusian Security Council State Secretary Alexander Volfovich, "the West does not support peace, it supports war"

Western nations should take Putin's statement seriously, warns Hungarian PM

Viktor Orban recalled that Russia has "one of the most powerful armies in the world, which boasts the most advanced, most powerful weapons"

Russia fires ballistic, non-nuclear-tipped missile at Ukrainian aerospace plant — Putin

According to the president, the missile is code-named Oreshnik, which can roughly be translated as hazel bush

Eliminating best enemy units: Defense Minister visits special op area

Andrey Belousov stressed that Russian troops have accelerated their advance in the special military operation zone and have effectively disrupted Kiev's 2025 military campaign

US to impose export restrictions against up to 200 Chinese firms — agency

According to Reuters, the Commerce Department plans to publish the new regulations "prior to the Thanksgiving break"

Weapons supplied to Ukraine cannot reach Russian territory, Spanish defense minister says

The New York Times reported on November 17 that US President Joe Biden had authorized the use of US-supplied ATACMS tactical ballistic missiles for strikes inside Russia

Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

According to the experts, Ukraine’s incursion into Russia’s borderline Kursk Region turned out to be a "strategic catastrophe" amid "manpower shortages"

West beginning to realize only part of Ukraine will remain — Lavrov

According to the Russian foreign minister, this represents the "confrontational logic" of the West

State Department says US-India relations hit some headwinds due to Russia, BRICS

Kurt Campbell said that it is important to 'keep attention on the horizon'

Illegal decisions on Russian property in Finland will not go unanswered — diplomat

Maria Zakharova noted that the Russian Embassy in Helsinki has sent requests to clarify the situation

Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

Angela Merkel added that another fallacy was the belief that the status "would act as a deterrent," and that Moscow "would accept these developments without taking action"

Russia not obliged to notify anyone about launch of intermediate-range missile — Kremlin

"No, there have been no notifications, for Russia has no such obligation with regard to intermediate-range missiles," Dmitry Peskov emphasized

Russia uses aerial bombs to destroy Ukrainian positions near DPR’s Konstantinovka — source

According to the report, at least 15 Ukrainian servicemen were killed as a result of the attack

Oreshnik missile to go into serial production, Putin says

The president stressed that given the weapon’s special power, it "will be provided precisely to the Strategic Missile Forces"

US admiral says Washington should be ready for talks with Russia, China

The Department of State and other US agencies "should continue to engage our competitors in real and substantive dialogue," Rear Admiral Thomas Buchanan said

Western countries should 'be afraid, tremble' after Putin's statement — lawmaker

Andrey Kartapolov added that the special military operation in Ukraine "will continue its course until all tasks are completed"

Any escalation scenario possible in Ukraine conflict — Medvedev

According to the politician, Western nations need to understand that they are fighting on Ukraine’s side

West irrational, fails to understand it cannot intercept Russia's new missiles — Kneissl

The former Austrian foreign minister stressed that she "counted on rational Western decision-makers, but irrationality is unfortunately on the rise among them"