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Apr 8, 2014

Costs and benefits from Russia’s annexation of Crimea

MOSCOW (Reuters) – Russia is getting out its chequebook to bankroll the region of Crimea, newly incorporated into Russia following its rapid annexation last month.

Moscow has pledged to spend billions of dollars on everything from higher pensions to a bridge linking the region to Russia, with almost $7 billion earmarked this year alone.

Apr 2, 2014

Russian central bank warns of low growth, high inflation

MOSCOW, April 2 (Reuters) – Russia’s central bank said on
Wednesday economic growth would “most probably” fall below 1
percent in 2014 and it was also concerned about above-target
inflation that constrains its ability to cut interest rates.

Despite the economic slowdown, central bank governor Elvira
Nabiullina said the bank did not plan to cut its key lending
rate from 7 percent until its June meeting at the earliest.

Apr 1, 2014

Russian stocks resume rally as Ukraine tension eases

MOSCOW, April 1 (Reuters) – Russian stocks resumed a rally
on Tuesday amid cautious optimism over the political situation
around Ukraine, but market players said prices were drifting
without much conviction.

Russian stock indexes rose in early trading, fell back
towards the opening levels in the middle of the day and then
rose again later in the day.

Mar 26, 2014

Russian cbank mulls long-term refinancing for banks

MOSCOW, March 26 (Reuters) – Russia’s central bank is
considering three-year refinancing for banks secured by
investment projects, its first deputy governor said on
Wednesday, amid political pressure to cut borrowing costs and
reduce reliance on Western finance.

“We think that this instrument will encourage the
development of investment lending that is now less developed,”
First Deputy Governor Ksenia Yudayeva said.

Mar 21, 2014

Russian shares tumble as U.S. widens sanctions for Crimea seizure

MOSCOW/BRUSSELS, March 21 (Reuters) – Russian shares fell
sharply on Friday as investors took fright at tougher than
expected U.S. sanctions against President Vladimir Putin’s inner
circle over Moscow’s seizure of Crimea from Ukraine.

The United States added 20 names to its sanctions blacklist,
including Kremlin banker Yuri Kovalchuk and his Bank Rossiya,
oil and commodities trader Gennady Timchenko and the brothers
Arkady and Boris Rotenberg, who are linked to big contracts on
gas pipelines and the Sochi Olympics, as well as Putin’s chief
of staff and his deputy, the head of military intelligence and a
railways chief.

Mar 21, 2014

Russian stocks plummet in early trade on U.S. sanctions

MOSCOW (Reuters) – Russian stock indexes fell sharply on Friday as investors digested the impact of U.S. sanctions over Ukraine, including possible moves by Washington to target whole sectors of Russia’s economy.

At 0720 GMT the ruble-denominated MICEX .MCX was down 3 percent to 1,281 points while the dollar-denominated RTS index .IRTS had fallen 3.6 percent to 1,109.

Mar 18, 2014

Russian stocks, rouble rise after Putin says no need for further Ukraine split

MOSCOW, March 18 (Reuters) – Russian shares extended gains
on Tuesday and the rouble rallied after President Vladimir Putin
said Russia had no need for any further division of Ukraine and
investors doubted the likelihood of tough western sanctions.

At 1315 GMT, the rouble-denominated MICEX index was
up 1.9 percent to 1,308 points. The dollar-denominated RTS
had risen 1.6 percent to 1,133 points.

Mar 18, 2014

Russian stocks rise on sanctions relief, rouble falls back

March 18 (Reuters) – Russian stocks rose on Tuesday,
buoyed by relief that the West has not imposed stiff economic
sanctions against Russia over Crimea and by firmer global

At 0745 GMT, the rouble-denominated MICEX index was
up 0.8 percent to 1,293 points. The dollar-denominated RTS
, weighed down by a weaker rouble, had risen 0.2 percent
to 1,116 points. The rouble fell after overperfoming on Monday.

Mar 17, 2014

Russian assets rally on view Western sanctions to be limited

MOSCOW (Reuters) – Russian shares and the ruble rebounded on Monday on the view that Western sanctions over Crimea would be limited to individuals rather than including trade or financial measures that would inflict significant economic damage.

The region voted in favor of joining Russia on Sunday in a referendum deemed illegal by the West. The European Union has limited sanctions to 21 Russian and Ukrainian officials so far and the U.S. to 11 officials, although more names may follow.

Mar 15, 2014

Ukraine crisis triggers Russia’s biggest anti-Putin protest in two years

MOSCOW (Reuters) – Russia saw the largest opposition protest in almost two years in Moscow on Saturday, as Muscovites took to the streets in their thousands to demonstrate both for and against President Vladimir Putin’s policies in Ukraine.

Crimeans vote on Sunday on whether to reunite with Russia after pro-Russian forces took control of the peninsula, triggering the worst East-West confrontation since the Cold War.