City Moscow Financial News

Cybersecurity firm Kaspersky says it’s shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company’s software in the country

MILWAUKEE—A group of foreign ambassadors and other diplomats gathered here between second and third base at America Family Field, home of the Milwaukee Brewers, for an event focused on luring foreign investments to southeastern Wisconsin. But on everyone’s mind was GOP presidential nominee Donald Trump’s selection of JD Vance—a leading critic of U.S. support for Ukraine—as his running mate on the first night of the Republican National Convention.

Russia’s new nuclear space weapon has spurred White House and congressional warnings about Moscow’s irresponsibility on the global stage. Russia’s move isn’t surprising, given its frustration over the war with Ukraine and its failure to contain or fracture the North Atlantic Treaty Organization. Yet this is another chapter in Moscow’s long decline in space leadership.

Russia, including by encouraging rupee-rouble trade and pushing Moscow to lift non-tariff barriers, New Delhi said on Monday, in the wake of Prime Minister Narendra Modi's visit to Moscow. Old partners India and Russia have stepped up trade since Russia invaded Ukraine in early 2022, but the increase has been overwhelmingly one-way, dominated by India buying Russian oil shunned by traditional customers in Europe. Surging Russian exports to India accounted for $61.43 billion of the $65.7 billion in trade between the two countries in the last fiscal year that ended in March.

The Russian Ministry of Finance is considering allowing qualified investors to trade digital currencies on licensed exchanges, such as the Moscow Exchange and St. Petersburg Exchange.

Russia may finally be set to legalize Bitcoin (BTC) and altcoin mining after a State Duma committee approved a bill for a vote later this month.

The United States, Canada and Finland will work together to build up their icebreaker fleets as they look to bolster their defenses in the Arctic, where Russia is increasingly active

The Russian Central Bank will finally expand its digital ruble pilot in September, widening its CBDC’s reach “by tens of times.”

India-Russia annual summit in Moscow on Tuesday between Prime Minister Narendra Modi and President Vladmir Putin will be on devising mechanisms for the easy and quick transfer of money between the two countries. This has gained significance in the backdrop of the ban on the use of SWIFT by Russia and the unprecedented surge in bilateral trade since the Ukraine war. The two leaders are also expected to initiate a process to allow the use of national currencies by tourists and students, ET has learnt. This will include the use of RuPay cards in Russia and MiR cards in India, according to persons familiar with the matter. While 60% of India-Russia trade is currently in national currencies, the need for real-time and faster payment in the absence of SWIFT has been felt. It is in this context that Modi and Putin are expected to focus on creating a special mechanism, said the people cited above.

UN Security Council members confronted Russia on Tuesday over a missile strike the previous day that destroyed part of Ukraine's largest children's hospital, pouring out condemnations at an emergency meeting chaired by Moscow's own ambassador. Russia denies responsibility for the strike at the hospital, where at least two staffers were killed. France and Ecuador asked for the session at the Security Council, but Russia led it as the current holder of the council's rotating presidency, putting Ambassador Vassily Nebenzia on the receiving end of the criticism. «Mr President, please stop this war. It has been going on for too long,» Slovenian Ambassador Samuel Zbogar appealed.

S Jaishankar on Wednesday met his Russian counterpart Sergey Lavrov on the margins of the Shanghai Cooperation Organisation Summit and discussed preparations for Prime Minister Narendra Modi’s scheduled visit to Moscow on July 8-9 including possibility of opening of two new Indian consulates in Russia. Currently besides the Indian Emabssy in Moscow, there are two Indian consulates— St Petersburg and Vladivostok. ET has learnt that India might open two more consulates in Russia and final announcement can be made at the annual summit next week. In their first meeting since December 2023, Jaishankar and Lavrov discussed aspects of the bilateral strategic partnership, including defence, energy, trade, investment and connectivity corridors. The two ministers also held preparatory talks for PM Modi’s upcoming visit, according to people familiar with the matter.

annual summit surprised many in the international community, the genesis of this visit was two telephone conversations between President Vladimir Putin and the Indian PM this year. The two first spoke following Putin’s Presidential polls victory in March. This was followed by Putin’s call to Modi (first P5 leader to telephone the PM) after BJP-led NDA’s election victory on June 4. ET has learnt that during the conversations the two discussed the possible visit by Modi for annual summit and it was decided that the PM could probably visit Russia by middle of this year. The government on both sides then worked to firm up the schedule as it was felt that a political summit was imperative to give momentum to the strategic partnership. Earlier during his trip to Moscow last December External Affairs Minister S Jaishankar had informed that Modi will visit Russia this year and he is also scheduled to attend the BRICS Summit in Kazan, Russia, end of October.

Russian President Vladimir Putin has endorsed a bill that raises income taxes for the rich

Indians working in the Russian army after Prime Minister Narendra Modi raised the issue with President Vladimir Putin during his Moscow visit on Monday night, a development that observers described as a diplomatic victory for India. At least four Indians have died fighting the Ukraine war. Around 61 Indians are believed to be serving in the Russian army. The PM raised the issue at a private dinner hosted by Putin on Monday evening, said people familiar with the matter.

Vinay Kwatra on Friday announced that Prime Minister Modi will arrive in Moscow on Monday (July 8) afternoon, he said, adding that the PM will then join a private dinner hosted by Russian President Vladimir Putin. Adressing a special briefing on PM Modi's visit to Russia and Austria, Kwatra said, PM Modi will pay an official visit to Moscow on July 8-9, at the invitation of the President of the Russian Federation for the 22nd India-Russia Annual Summit." Further, he also said that after PM Modi and Putin's informal meeting in Uzbekistan's Samarkand in 2022, both leaders have stayed in touch on the phone multiple times.

The Russian prosecutor general’s office has declared The Moscow Times newspaper to be an “undesirable organization.”

Russia is seeing an increase in the number of crypto bribery cases where corrupt individuals receive payment in tokens such as Bitcoin (BTC), lawyers say.

Finnish lawmakers have narrowly approved a controversial bill that will allow border guards to turn away third-country migrants attempting to enter from neighboring Russia and reject their asylum applications

PM Modi at the airport. Manturov and PM Modi shook hands and greeted each other. In a rare gesture, Manturov will also accompany PM Modi to the hotel from the airport in the same car. India's Ambassador to Russia, Vinay Kumar, was present at the airport to welcome PM Modi. The Indian community has gathered outside the hotel, where PM Modi is scheduled to arrive. Indian diaspora are also playing dhol to welcome PM Modi at the hotel.

trade imbalance with Russia and securing the discharge of Indians misled into fighting in the Ukraine war will be among Prime Minister Narendra Modi's priorities during talks in Moscow next week, a top official said on Friday. Modi will visit Russia on July 8-9 for talks with President Vladimir Putin as part of annual summits between New Delhi and Moscow, launched in 2000. Modi's visit coincides with the July 9-11 NATO summit in Washington at which the Ukraine war will hold centre stage, and the timing has raised questions about the signal India could be sending.

Russia's defence ministry said on Tuesday that it had destroyed five Ukrainian SU-27 fighter jets and damaged two more the Myrhorod airfield in Ukraine's Poltava region with Iskander-M missiles. The ministry published footage of the attack which showed smoke and flames rising from an airfield. «As a result of the Russian strike, five active SU-27 multi-purpose fighters were destroyed and two were damaged,» the ministry said.