Russia Financial News

Moscow will give Russian bailiffs more new powers to seize digital rubles and cryptoassets in bankruptcy cases.

In a world of rapidly changing geopolitical realities with growing uncertainty and instability, international trade is striving to cope with emerging challenges. After abrupt supply-chain disruptions during the pandemic, revealing global overdependence on China for trade as well as investment, national governments and corporates worldwide sought to diversify both and establish alternative supply chains.

By Nell Mackenzie

Russia's parliament has approved a federal budget that increases spending by around 25% in 2024-2026 and devotes a record amount to defense

Turkey’s central bank has delivered another huge interest rate hike as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods

Qatar Airways has been renewed as the airline sponsor for the men’s World Cup in 2026 in North America and the 2030 tournament expected to be in Europe, Africa and South America

Geert Wilders provided a major boost to Europe's far-right populists with his election win in the Netherlands

Finnish border guards and soldiers have begun erecting barriers including concrete obstacles topped with barbed-wire at some crossing points on the Nordic country’s lengthy border with Russia

Less than two years after nearly being killed by a Russian bomb while reporting, Fox News' Benjamin Hall returned to Ukraine this week

India's crude oil imports rose in October, after falling in the previous four months, as the world's third biggest oil importer and consumer shipped in more fuel to meet winter demand, Petroleum Planning and Analysis Cell (PPAC) data showed on Thursday. Crude imports in October rose 5.9% month-on-month to 18.53 million metric tons, rebounding from a one-year low in September. India's fuel consumption also rose to a four-month high in October, as increased industrial activity boosted sales during the festive season and the onset of winter, government data showed earlier in the month. «With demand picking seasonally up as we approach the end of the year, there was a higher need to import more crude to cover higher demand for refined products,» said UBS analyst Giovanni Staunovo. The year-on-year rise in imports is due to the rise in domestic demand, supported by solid economic growth, Staunovo added. Data from the PPAC website also showed product imports rising 13.4% to 4.41 million tons from October last year and product exports 12.6% higher over the same period to 4.47 million tons. On a monthly basis, product imports rose 7.6% in October, while exports fell 7%. OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed. Indian refiners have slowed Russian oil imports in recent months from the nearly 2 million barrels per peak seen earlier this year as discounts have narrowed. (Reporting by Tina Parate and Anjana Anil in Bengaluru; Editing by Mark Potter)

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By Natalie Grover

The king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. But on Tuesday, a jittery Changpeng Zhao showed up in a Seattle federal court to plead guilty to violating U.S. money-laundering rules.

Prime Minister Narendra Modi on Wednesday told the leaders of the Group 20 (G20) block of large economies they ought to work together for global regulation of artificial intelligence (AI).

By Max Hunder

global economy requires consensus and consideration of the opinions of different countries, Russian President Vladimir Putin said while speaking at the G20 virtual summit. «Now the situation in the global economy, and in the world as a whole, requires collective, consensus decisions that reflect the opinion of the overwhelming majority of the international community, both developed and developing countries,» Putin said. The Russian leader pointed out that the world is undergoing processes of radical transformation. «New powerful centers of global economic development are emerging and strengthening. A significant share of global investment, trade and consumer activity is shifting to Asian, African and Latin American regions, where most of the world's population lives.

(Reuters) -OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26, OPEC said in a statement on Wednesday, a surprise development that sparked a further drop in oil prices.

Investing.com — Oil prices traded sharply lower Wednesday after a group of top producers delayed its meeting to set output policy, creating uncertainty about future supply levels. 

ANI quoted, "The world is worried about the negative effects of AI. India thinks that we have to work together on the global regulations for AI. Understanding how dangerous deepfake is for society and individuals, we need to work forward.

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OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed. Russia's share of the Indian market in October slipped to the lowest in nine months, according to Reuters calculations based on ship tracking data from trade sources. India, the world's third-biggest oil importer and consumer, typically relies on producers in the Middle East for most of its oil needs and has encouraged refiners to diversify to cheaper alternatives to cut costs. The South Asian nation has emerged as the top buyer of the Russian seaborne oil sold at a discount after Western nations stopped buying from Moscow following its invasion of Ukraine. India imported about 4.7 million barrels per day (bpd) of crude in October, up 8.4% from the previous month as refiners increased purchases to meet higher local fuel demand during the festive season, the data showed. Imports from Saudi Arabia and the United Arab Emirates jumped to a 7-month high, up about 53% and 63% respectively in October from the previous month, the data showed. That helped lift the share of the producers in the Organization of the Petroleum Exporting Countries to 54% in October, up from 50% in September, according to the data. India imported on average 1.56 million barrels per day (bpd) of Russian oil in October, up 1.2% from the previous month, the data showed. Despite the increase, Russian oil's share in India's October imports slipped to 33% from 35% in September. Russia was the top oil supplier to India in April to October, the first seven months of this fiscal year to March 2024, followed by Iraq and Saudi Arabia. Higher