Russia Financial News

Prices for Russian oil have risen well above a price cap imposed by Western allies as part of sanctions over the invasion of Ukraine

Oil prices are up and markets are tense after the outbreak of war in Gaza

Kremlin has officially quashed recent online rumors concerning the health of President Vladimir Putin, asserting that he remains hale and hearty. Kremlin spokesperson Dmitry Peskov firmly rebuffed claims of body doubles, branding them as an «absurd hoax.» Speculations surrounding President Putin's well-being emerged following an unverified report from a Russian Telegram channel, which subsequently garnered attention from certain Western media outlets, alleging a serious health incident on a recent Sunday evening. Despite his 71st birthday on October 7th, Vladimir Putin is a judo fanatic and presents himself as a dynamic and vigorous leader.

By Yew Lun Tian

Kremlin on Tuesday rejected speculation about President Vladimir Putin's health, saying he was fit and well. Kremlin spokesman Dmitry Peskov, in a regular call with reporters, also denied suggestions that the president was using body doubles, calling that an «absurd hoax». Reporters asked Peskov about Putin's health following an unsourced report by a Russian Telegram channel, picked up by some Western media, that the president had suffered a serious health episode on Sunday evening. Putin, a judo enthusiast who has long cultivated an «action man» image, turned 71 on Oct. 7.

“We remain overweight on sectors that will benefit from economic expansion such as banks, industrials, utilities, defence, real estate, and cement,” says Dr. Poonam Tandon, Chief Investment Officer at IndiaFirst Life. In an interview with ETMarkets, Tandon said: “We are very positive on the infrastructure and real estate cycle as the sector will continue to benefit with the government allocating higher budgets and offering various incentives” Edited excerpts: October is turning out to be a roller coaster ride for investors in equity markets. Will geopolitical concerns have a long-term impact on equity markets if things escalate? Geopolitical pressure is on the rise amid the ongoing war between Russia and Ukraine and now the Israel-Palestine conflict.

Biden and Xi have not engaged in any discussions since their last meeting in November, which took place on the sidelines of the Group of 20 summit in Bali, Indonesia. Tensions between the world's leading economies have remained consistently elevated throughout the past year.

UN General Assembly will meet Thursday to discuss the conflict triggered by the attack by Hamas militants on Israel, the body's president announced in a letter to member states. The Security Council has so far failed to agree on a resolution concerning the war, but a number of states — including Jordan on behalf of an Arab group of nations, Russia, Syria, Bangladesh, Vietnam and Cambodia — formally requested General Assembly President Dennis Francis to schedule the meeting. Last week, the UN Security Council, regularly divided on the Israeli-Palestinian issue, rejected a Russian draft resolution calling for a «humanitarian pause.» Only five of the 15 member states had supported the text, which condemned all violence against civilians and all terrorist acts, but did not name Hamas, an unacceptable omission to the United States, the United Kingdom and France. Washington then vetoed a second resolution put forward by Brazil as the text did not mention Israel's right to defend itself. Twelve out of 15 Council members voted in favor of that resolution, which also condemned the «heinous terrorist attacks by Hamas,» while Russia and the United Kingdom abstained. The United States was the only vote against, but as one of the body's five permanent members its vote counts as a veto. The Security Council will meet to discuss the issue Tuesday ahead of the General Assembly's gathering Thursday at 10:00 am (1400 GMT).

Also Read: From high inflation to import bill - the domino effect of rising crude oil prices on Indian economy With major oil producers Saudi Arabia and Russia announcing oil supply cuts of a combined 1.3 million barrels per day (mbpd) till the end of the year, the global economy already faces an oil market deficit. Now, with oil prices hovering above the $90 per barrel-mark, the escalation of the conflict towards other Middle Eastern oil producers is concerning and requires careful monitoring, especially given the global economy's 'higher for longer' interest rate scenario. The oil supply is unlikely to be threatened unless the issue expands to other nations in the region and becomes a proxy conflict between the US and Iran.

The Financial Crimes Enforcement Network (FinCEN) has put forward a notice of proposed rulemaking that could have significant implications for the crypto mixers, including Bitcoin (BTC)'s CoinJoin. 

Track the latest updates on Israel-Hamas war Syria, under Bashar al-Assad's rule since 2000, has held differing views on Hezbollah. While the Syrian leadership adheres to the Alewite sect, Hezbollah adheres to hardline Shia school of thought, and envisages a theocratic state on the lines of post-1979 Iran. The Assad-Hezbollah relations, however, turned strong in the aftermath of the Syrian civil war in 2011, as the militant group sided with Iran and Russia to back the embattled Syrian president.

NEW DELHI : India-backed Global Biofuels Alliance (GBA) is looking for more countries to join it from South-east Asia and Africa after the Philippines and Tanzania became the latest entrants. The move is strategically significant as it is expected to give India an upper hand over China which has interests in both South East Asian and Africa and has been opposed to joining the alliance. The alliance launched on 9 September on the sidelines of the G20 Leadership Summit was initially conceptualized with a view to getting all G20 members on board.

Recep Tayyip Erdogan has submitted a protocol for Sweden's admission into NATO to Turkey's parliament for ratification, his office said Monday. Erdogan had been delaying ratification of Sweden's membership, accusing Stockholm of being too soft on Kurdish militants and other groups he considers to be security threats. Turkey also was angered by a series of Quran-burning protests in Sweden.

By Elena Fabrichnaya and Alexander Marrow

Vivek Ramaswamy has made a plea for the United States to create its own missile defense system, drawing inspiration from Israel's Iron Dome. The Indian origin billionaire believes in the necessity of such a system to protect the nation from external threats, particularly in light of the advanced missile capabilities possessed by countries like Russia. In his further argument, he pointed out the fact that Russia possesses hypersonic missile capabilities that outmatch those of the United States.

MOSCOW (Reuters) — The number of Russians who say their salary does not cover basic spending has jumped by 20 percentage points in two years to almost half, a survey by recruiter Headhunter showed, as Moscow diverts record fiscal resources to funding its war in Ukraine.

«Good to see my friend DG @iaeaorg @rafaelmgrossi today. Congratulated him on his reappointment.

Following Visa and Mastercard's termination of partnerships with Binance a couple of months ago, the world's largest cryptocurrency trading platform is now ceasing service of its Visa debit card in the European Economic Area (EEA).

(Reuters) -Escalating tension in the Middle East and surging U.S. bond yields set financial markets up for more turbulence, exacerbated by high oil prices and China's property pain.

Mohammed bin Salman took to the stage to promise that a new era was dawning for the Middle East. “The new Europe is the Middle East,” the country’s de facto ruler, commonly known as MBS, said to applause from the crowd.

IAEA) Director General Rafael Grossi on Monday arrived in India on an official visit. «A warm welcome to DG @iaeaorg @rafaelmgrossi as he arrives on his first visit to India as Director-General of IAEA. His visit will further strengthen India-IAEA ties across diverse sectors,» Ministry of External Affairs Official Spokesperson Arindam Bagchi wrote on 'X'. The IAEA is a centre for cooperation in the nuclear field and seeks to promote the safe, secure and peaceful use of nuclear technologies, as per the IAEA's official website. Grossi assumed office as the IAEA's sixth Director General on December 3, 2019.