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

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

RUSSIA'S ECONOMY

Russian Finance Ministry admits Reserve Fund may be depleted in 2017

As of July 1, the Russian Reserve Fund amounted to $17.42 bln, €15.61 bln and ‎£2.62 bln

© Vladimir Smirnov/TASS

MOSCOW, July 6. /TASS/. Russia’s Reserve Fund may be depleted in 2017, Deputy Finance Minister Sergey Storchak said Wednesday.

"Yes, it is possible," he said when asked whether the Reserve Fund may be depleted next year, adding that "political decisions are made at various levels" and "at the moment this level is higher than mine."

Read also

As was reported earlier Russia’s Reserve Fund declined by 3.7% in June to 2.5 trillion rubles ($39 bln) while the National Wealth Fund (NWF) dropped by 3% to 4.7 trillion rubles ($73.4 bln). In dollar terms the funds amounted to $38.22 and $72.76 bln, respectively, as of July 1.

In May, the Finance Ministry spent $2.67 bln, €2.34 bln and ‎£0.41 bln worth of funds from the Reserve Fund for financing budget deficit. No disbursements were reported for June. On the whole the Finance Ministry may spend a total of 2.2 trillion rubles ($34 bln) to finance budget deficit, which the Central Bank says may cause a structural liquidity surplus of the banking sector.

According to the data provided by the Finance Ministry, as of July 1 the Reserve Fund amounted to $17.42 bln, €15.61 bln and ‎£2.62 bln.

Russia’s Economy Ministry expects inflation to decrease by year end

Maxim Reshetnikov noted that the Bank of Russia’s forecast for inflation in 2024 "is within our [the Ministry of Economic Development's] range of current estimates"

Banning Muslim athlete from participating in Olympics opening ceremony segregation — MFA

Maria Zakharova emphasized that this case, as well as previous decisions on Russian and Belarusian athletes show that the modern Olympics have nothing to do with the goals of the Olympic movement declared more than a century ago in Paris and contradict the Olympic spirit

US, its allies getting dragged deeper into Ukraine conflict — Russian UN ambassador

Dozens of foreign servicemen on active service are dying in Ukraine, Vasily Nebenzya said

Russian man found guilty of treason, sentenced to ten years in prison

According to the body, the convict planned to join the Free Russia Legion

Russia’s Vikhr air-launched missiles highly efficient in Ukraine operation — arms producer

Crews of Russian Ka-52M reconnaissance/strike helicopters reliably destroy various targets of the Ukrainian army by Vikhr-1 air-launched missiles at the frontline, it said

German man sentenced to death in Belarus says he planned to enlist in Ukrainian military

Rico Krieger said Ukraine promised to pay him 2,000 euros a month

FBI seeking to interview Trump as part of assassination attempt investigation — TV

Earlier, FBI Director Christopher Wray said that "there’s some question about whether or not it’s a bullet or shrapnel that" caused Trump’s ear injury

Kiev exports Kharkov Region's factory capacities to western Ukraine — governor

Vitaly Ganchev emphasized that three key industrial facilities of the Kharkov Region, listing the Turboatom plant, the Kharkov Malyshev factory and the Kharkov State Aircraft Manufacturing Company are actually being destroyed

Most Americans believe Biden should resign presidency now — poll

The survey of 1,074 people was conducted on July 22-24

Lukoil becomes first Russian company with regional headquarters status in Shanghai

Lukoil is represented in China by Lukoil Lubricants China, which is responsible for the lubricants business in the country

Moscow open for talks, needs to understand how prepared Ukraine is — Kremlin

Earlier, Ukrainian Foreign Minister Dmitry Kuleba said at a meeting with top Chinese diplomat Wang Yi that Ukraine was preparing for talks with Russia

Olympic Games opening ceremony begins in Paris

Fifteen Russian and 17 Belarusian athletes will take part in the Paris Olympics, which will end on August 11

Lithuania prepares mass evacuation plan for war case

Lithuania has planned a national mass evacuation drill for the fall

NATO cannot be trusted, says Kremlin aide

Nikolay Patrushev reiterated that NATO countries at different points in time pretended to be Moscow’s friends, calling it into their ranks, promising not to expand eastward, while now they "openly call Russia the main threat"

Trump’s remarks on Russia’s victory over Hitler useful for Americans — Kremlin

Dmitry Peskov noted that the American people might be surprised "to find out that there are indeed many glorious pages in Russia’s history"

Russian missile frigate Admiral Gorshkov arrives in Algeria on business call

The Russian missile frigate has arrived at the port of Oran together with the medium sea tanker Akademik Pashin

Bank of Russia says to consider any ways to protect Russian investors’ interests

The European Commission banned the EU citizens and companies from participating in exchange of frozen assets with Russian investors earlier in July

Chersonesos should stand for Russian prosperity, Putin believes

The territory where modern Sevastopol is located was inhabited 2,500 years ago

Second front of conflict with Russia to open in Georgia if opposition comes to power — PM

"By November after the elections, I can assure you that not in two, three or four months, but in days, Georgia will turn into the second front," Irakli Kobakhidze said

Incident at Russian gas production facility kills one

Eight people were injured

Dam restoration after burst to start in the morning — Ministry of Emergencies

All the residents were evacuated

Israel sets new conditions for Gaza ceasefire deal — news agency

Israel demanded that its army be given control of the border between Gaza and Egypt, the sources said

EC announces expropriation of first €1.5 bln worth of proceeds from Russian assets

The funds will not go directly to Kiev, they will be channeled to the EC, to the European Peace Facility, to compensate EU countries for weapons

Kiev plans to eliminate massive list of 'enemies of Ukraine' — political activist

Zakhar Prilepin noted that "Kiev (the Ukrainian authorities - TASS) does not care about any possible peace talks"

Indian prime minister may visit Ukraine in August — TV

According to the WION television channel, the visit can be expected on the third week of August, most probably on August 23

Numerous violations by YouTube serve as grounds to take action against company — watchdog

The regulator recalled that Russian courts had fined Google more than 25 billion rubles (about $290 million) over the past three years

Putin to attend Navy Day parade in St. Petersburg on July 28 — Kremlin spokesman

The parade will mark Russia’s Navy Day, celebrated on the last Sunday of July

FACTBOX: Mi-28 helicopter goes down in Kaluga Region

The crew was killed, no destruction occurred on the ground

Low fertility in Russia does not mean people being insecure about their future — Kremlin

"The thing is that demography is an area where measures cannot have an immediate effect, they have a delayed effect," Dmitry Peskov stressed

Press review: Pentagon unveils new Arctic strategy and Russia, Iran rework strategic pact

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

Infrastructure facilities suffer damage in three Ukrainian regions

Power supplies to domestic and industrial users in some districts of the Zhitomir region were suspended

New Iranian president criticizes Netanyahu’s speech to US Congress

"Neither can the crime of killing innocent people and helpless children be ignored, nor can the criminal be purified with a standing ovation. The blood of the innocent will never leave the oppressor," Masoud Pezeshkian said

Russia to continue airstrikes in Syria until it takes out militants staging provocations

Deputy Head of Russia's Center for Reconciliation of the Opposing Sides in Syria Rear Admiral Oleg Gurinov said that high-precision strikes were launched against militant targets in the Sarjah area of the Idlib de-escalation zone on June 27

Top Ukrainian diplomat says Kiev ready for talks with Russia — Chinese MFA

According to the Ukrainian foreign minister, "talks need to be rational, substantive and aimed at achieving a just and lasting peace"

Russian, US experts on Ukraine had clandestine meeting in neutral country — diplomat

Maria Zakharova also pointed out that the ministry receives information on the content of such consultations, albeit it does not consider them reasonable at the current stage of the special military operation, "considering the knowingly anti-Russian bias of participants from the United States and other unfriendly states"

China demands that US withdraw nuclear weapons outside Europe

According to Mao Ning, Beijing calls on states violating the NPT to "abandon the Cold War mentality and zero-sum game"

Lavrov warns against ‘very bad scenario’ unfolding around Iran

Top Iranian officials have been placed on the US sanctions list

'Biden’s plan' obstructs preparation of resolutions demanding ceasefire in Gaza — envoy

On May 31, the US president announced the conditions of a draft agreement on the settlement in Gaza, which implies a ceasefire and the release of Israeli hostages in exchange for Palestinian prisoners

Some spectators leave their seats before 2024 Olympics opening ceremony kicks off

The the France Info radio station meant the upper quays of the Seine, from which the view is not good enough

Germany fails to meet obligations under Convention on Cluster Munitions, lawmaker says

Sevim Dagdelen also said that in response to her question about US cluster munitions, the German Foreign Ministry said that the federal government "does not have its own information on the matter"

West finds it increasingly hard to ignore corruption in Ukraine — Russia’s UN envoy

"They are continuously pumping arms into the Kiev regime, albeit with serious problems and setbacks," Vasily Nebenzya said

Russian economy growing despite Western sanctions — official

The Russian economy is gradually reducing dependency on export of commodities, developing through sectors that bring high added value, which is why China’s interest in cooperation with Russia is growing, Boris Titov noted

Kharkov Region records arrival of numerous French mercenaries — official

Vitaly Ganchev pointed out that Russian troops destroy mercenaries, as well as members of Ukrainian nationalist units, on a regular basis

Olympic Games in Paris declared opened

The Olympic Games in Paris will end on August 11

Staff at Paris hotel housing IOC officials go on strike

According to the newspaper, the hotel's employees have not received a pay raise since 2017, despite shareholders being paid a $10 million dividend in 2024

NATO weapons to be hit in any country from where Russia may be attacked — Medvedev

The senior Russian official added that Moscow proceeded from the fact that all long-range weapons supplied to Ukraine were already "directly operated by servicemen from NATO countries"

2016 World Nomad Games in Kyrgyzstan

Sports include eagle hunting, bone throwing and kok-boru, a Central Asian form of polo in which two teams battle for control of a decapitated goat carcass

Ukrainian presidential office against negotiating with Russia at this stage

According to Mikhail Podolyak, negotiations from a position of strength will be fair

Russia’s Economy Ministry expects inflation to decrease by year end

Maxim Reshetnikov noted that the Bank of Russia’s forecast for inflation in 2024 "is within our [the Ministry of Economic Development's] range of current estimates"

Russian airstrike hits assembly point of Ukrainian troops, equipment near Kupyansk

According to Andrey Marochko, work is underway to gather accurate data on Ukraine’s troop and equipment losses

One settlement flooded after Kialim water reservoir dam breach in Chelyabinsk Region

According to the Karabash city administration, some 30 people were evacuated from the village of Kiolim located in the vicinity of the water storage pond

YouTube speed drop caused by cessation of 'grey scheme' operations — senior lawmaker

Alexander Khinshteyn underscored that these measures are connected to the company’s own actions

Russia's international reserves rise by $10 bln over week to $611.3 bln — Bank of Russia

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

Ukraine’s Zelensky, Kuleba lie claiming readiness for talks — Russia’s OSCE envoy

According to Maxim Buyakevich, the Kiev regime’s steps have "nothing in common with efforts to resolve the conflict and achieve a lasting and just peace"

Finland claims Russian ship supposedly violated its territorial waters

Previously, the Defense Ministry claimed that four Russian planes violated the Finnish airspace on June 10

Trump reminds Americans that Russia defeated Hitler, Napoleon

He noted that Washington’s allies in Europe needed to increase their defense spending

Russian money transfers to Uzbekistan reach $4.95 bln in 6 months

According to Mamarizo Nurmuratov, due to a significant decrease in the number of migrant workers from Uzbekistan working in Russia, the volume of remittances over 6 months decreased slightly in comparison with the same period last year

WW3 may begin before Biden's term up, Trump says

Donald Trump specifically said in January that Joe Biden's policy had turned the world into hell and was leading the United States to a bloodbath

Number of Ukrainians with sober view of events to keep growing — Kremlin Spokesman

When asked, why Kiev started talking about a possibility of negotiations with Moscow at this specific moment, Dmitry Peskov noted that "it would be nice to obtain explanations from an official representative" of Kiev in this regard

US informs Iran of readiness to return to nuclear deal — newspaper

According to the source, the US informed the Iranian authorities that the Biden administration was ready to hold talks on a swift return to the JCPOA "provided that minor amendments to it are made"

Bank of Russia raises key rate from 16% to 18%, first time since December 2023

Inflation has accelerated and is developing significantly above the Bank of Russia’s April forecast, the regulator said

Press review: China mediates on Ukraine and forecasting foreign policy under Kamala Harris

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

Russian firefighting gear accepted by Venezuelan oil company

Russia and Venezuela are long-standing partners in the energy sphere, Russian Ambassador to Venezuela Sergey Melik-Bagdasarov said

Russia’s Obereg armor vest outshines US, Chinese rivals in tests

Meanwhile, a Chinese-made armor vest failed to withstand a shot and was pierced through

Russian tennis player Andreeva won first WTA title in career

She defeated her fellow countrywoman Elina Avanesyan

US to maintain coalition of countries in support of Kiev and against Russia, says Biden

"We’ll keep NATO stronger and more powerful and more united than at any time in all of our history," the president said

Bank of Russia says scale of economic overheating in 1H largest over past 16 years

Overheating or positive output gap is the state of economy when output volume exceeds the so-called potential GDP, Elvira Nabiullina said

Ukraine has no access to Sea of Azov, its strategy detached from reality — official

Nikolay Patrushev also underscored that ships of Western states cannot freely access Azov ports

External forces annoyed because Georgia won’t open ‘second front’ against Russia — PM

"We did not allow it, and we must protect our national interests until the end," Irakli Kobakhidze emphasized

High key rate and lowering inflation — Bank of Russia comments on economic policy

The inflation forecast for this year has been raised to 6.5-7%

Russian snipers eliminate four Ukrainian soldiers from 1.8 km distance near Soledar

Over the year of its operation, the sniper company has eliminated about 200 targets

Humanitarian aid should be delivered to Gaza without delay — King of Jordan

Abdullah II called on the US to create "a political horizon to achieve just and lasting peace on the basis of the two-state solution"

The Obamas endorse Harris' nomination for US president

The US presidential election will be held on November 5

Ukraine uses Kharkov Region’s largest plants for needs of armed forces — official

Vitaly Ganchev stated that his automatically makes these enterprises targets for Russian forces

German lawmaker Pellmann advises against further weapons’ supplies to Ukraine

Soren Pellmann said that the supplies of weapons to Ukraine contradict present-day efforts to settle the conflict in a peaceful manner and cited as an example a recent official visit of Ukrainian Foreign Minister Dmitry Kuleba to China

200 people to be evacuated after water dam breach in Chelyabinsk Region

An emergency situation regime has been declared in the city

Russia launches work to develop sixth-generation fighter jet

The new military aircraft will be able to develop hypersonic speed

Northern Sea Route becoming more efficient than Suez Canal — Putin

The Russian leader noted that the Northern Sea Route is becoming more and more opened for ships in different seasons of the year but the icebreaker fleet will still be needed for a long time

Russian troops steadily advancing to Kupyansk in Kharkov Region — administration head

The administration’s staff tries to visit liberated communities as soon as possible to organize aid for local residents, Vitaly Ganchev said

Indian naval ship arrives in St Petersburg

The frigate was built at St. Petersburg’s Baltic Shipyard

Ukraine may use talks with Russia to regroup militarily, expert says

"During his visit to China, Ukrainian Foreign Minister Dmitry Kuleba expressed readiness for dialogue and talks with Russia, which indicates a potential change in strategy," Zheng Renyi noted

Paris spends $12 bln on Olympics, double what it planned — French daily

The 2024 Summer Olympic Games are hosted by the French capital of Paris between July 26 and August 11

Ruble starts to decline amid the Bank of Russia’s decision to raise key rate

The Bank of Russia raised the key rate for the first time since December 2023 - from 16% to 18% per annum, and will consider the further raising it at its next meetings

All UNSC humanitarian resolutions on Gaza remain only on paper — Russian diplomat

The Israeli authorities, according to Vasily Nebenzya, continue hampering aid deliveries

Russian forces liberate three settlements in past week

Sixty-three Ukrainian soldiers surrendered to Russian forces in the past week

Press review: Putin sits down for talks with Assad and Biden addresses American people

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

Russia hits Ukrainian Neo-Nazi formations near Kharkov — underground resistance

According to the resistance data, up to 200 troops arrived there literally the other day

West Bank on brink of explosion — Russia’s UN envoy

Vasily Nebenzya pointed out that Israel has the right to ensure its security, "however, the road to this goal runs without any doubt exceptionally through a comprehensive resolution in the Middle East"

Russia’s Nebo-M radars can detect F-22, F-35 warplanes — developer

Nebo-M can detect aircraft and ballistic missiles at a distance of one thousand kilometers

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

The speaker’s shocking remarks sparked outrage among the public

Ukraine blackmails countries seeking peace with oil transit — chief of Orban’s office

Gergely Gulyas stressed that there is no oil deficit threat at the moment

EC’s expropriation of proceeds from Russian assets to entail Moscow’s response

According to the French politician, such a decision will lead to the further escalation of tension "while Ukraine has already lost."

Russian tennis player Andreeva proud of winning tournament in Romania

Mirra Andreeva defeated her fellow countrywoman Elina Avanesyan

Open fire eliminated at carbon dioxide removal plant in Togliatti

Nobody was injured

Russia manages to keep NWS format afloat, despite contradictions — diplomat

The format of the five nuclear-weapons states is not at its best because of the West, Russian Foreign Ministry Spokeswoman Maria Zakharova said

Beijing, Moscow preparing important visits for later this year — Chinese envoy

These efforts fully reflect the high level and special nature of China-Russia relations, Zhang Hanhui noted

What is known about arrest of former Deputy Defense Minister Dmitry Bulgakov

Investigators conducted searches of the former deputy defense minister’s place of residence

Almost all Ukrainian troops leave positions in DPR’s Novosyolovka Pervaya

A mop-up operation is underway

Moscow to respond to EC’s expropriation of €1.5 bln worth of proceeds from Russian assets

Such illegal actions should not be followed by a swift response, it should be well-thought-out and fully meet Russia’s interests, Dmitry Peskov noted

Russia does not see US elites through rose-colored glasses — Kremlin

Dmitry Peskov recalled that the US sanctions race against Russia began under Trump's presidency

Water lost in Crimean Canal to help deal with water shortages in Crimea

One of the ways to deal with shortages of water in Crimea is to supply it from central parts of the peninsula