Russia Financial News

Investing.com — Crude oil prices rose Thursday, boosted by signs of resilient economic activity in the U.S. as well as expectations of tighter supplies as the year progresses.

Finland and Sweden are considering joining the US National Guard's security partnership program in a further expansion of American military ties across Europe after Russia's invasion of Ukraine. The chief of the National Guard, Gen. Dan Hokanson, was expected to announce the discussions with each country, which have not previously been reported, in remarks at the National Press Club on Thursday.

European Central Bank raised interest rates for the ninth straight time in its yearlong campaign to stamp out painfully high inflation, even as worries about recession fuel speculation that Thursday's hike could be its last.ECB President Christine Lagarde had all but promised the quarter-percentage point increase. That puts the focus at her post-meeting news conference on whether the bank will raise rates again at its September meeting or hold off after a record series of rate hikes.

Russia's Sberbank has received permission from the Reserve Bank of India to establish an IT unit in Bangalore. The new IT office will house Sberbank's in-house data processing center.

Bharat Petroleum Corp is reportedly in talks with Russian oil major Rosneft to buy oil under a term deal as discounts on Russian oil are narrowing. According to a report by Reuters, Vetsa Ramakrishna Gupta, head of finance at BPCL said, “Yes, there were discussions happening with Rosneft but not yet concluded". BPCL is in talks to buy up to 6 million metric tons of Russian oil under a term deal with Rosneft, Reuters reported last month.

NASA power outage disrupted communication between Mission Control and the International Space Station on Tuesday. Mission Control couldn't send commands to the station and talk with the seven astronauts in orbit.

By Victor Goury-Laffont and Gilles Guillaume

₹1,405 crore for the quarter ended June, mainly aided by overall good performance in Russia and success of US generics. Dr Reddy share price opened at ₹5,535 apiece on BSE. Dr Reddy share price hit intraday hit of ₹5,580.85 and low of ₹5,425 on BSE.

By Ron Bousso and Shadia Nasralla

Russian regions are welcoming news that the nation’s digital ruble pilot is set to officially launch on August 1, but banks and officials claim that a full CBDC rollout may not come until 2027.

Investing.com — Oil prices rose in Asian trade on Thursday, recovering a bulk of losses from the prior session amid weakness in the dollar and a tighter outlook for supply, while markets also digested mixed signals on monetary policy from the Federal Reserve.

A military court in Moscow has sentenced a dual Russian-Ukrainian citizen to 22 years in a penal colony for blowing up a railroad track last summer allegedly at the behest of Ukraine

Some African leaders have arrived in Russia for a summit with President Vladimir Putin as the Kremlin seeks more allies amid the fighting in Ukraine

Canadian Prime Minister Justin Trudeau is announcing a major Cabinet shake-up as he readies his team for the next federal election

Russia's defence minister was photographed this week viewing banned North Korean ballistic missiles with leader Kim Jong Un at a military expo in Pyongyang, signalling deeper ties between the two countries as they face off with the United States. As Russia's isolation over its war in Ukraine has grown, it has seen increasing value in North Korea. For North Korea's part, relations with Russia haven't always been as warm as they were during the heady days of the Soviet Union, but now the country is reaping clear benefits from Moscow's need for friends.

Also read: UN Command engages in talks with North Korea regarding detained US soldier: Report During a banquet in Pyongyang, Shoigu praised the North Korean military as the "most powerful" in the world. This statement was made during his meeting with his North Korean counterpart, Kang Sun Nam, as reported by news agency Yonhap, citing the Korean Central Broadcasting Station (KCBS).

Global food markets have been thrown into chaos yet again — not only because of Russia’s decision to pull out of the Black Sea grain deal, but also India’s announcement that it would ban the export of many varieties of rice. The partial exit of the rice market’s largest trading nation, with about a 40% share of exports, has led to fears that food inflation will race out of control, particularly in countries of the Global South that are already struggling with high debt levels and inflated food and fuel bills. Even if it is soon lifted, the export ban is a big mistake for India, both economically and geopolitically.

State Antony Blinken on Thursday pressed African leaders attending a summit with Russia's Vladimir Putin to demand answers about a grain crisis that has propelled poorer nations towards crisis. Speaking ahead of a Russia-Africa sitdown in Putin's hometown of Saint Petersburg, Blinken insisted African leaders knew rising food costs, grain and fertiliser shortages were a direct result of Putin's war in Ukraine. Several African leaders including South African President Cyril Ramaphosa are expected to attend the Konstantinovsky Palace summit.

Kim Jong Un met with Russian Defense Minister Sergei Shoigu to discuss military issues and the regional security environment, state media said Thursday as the country celebrated the 70th anniversary of an armistice that halted fighting in the 1950-53 Korean War. The North's official Korean Central News Agency said Kim and Shoigu talked Wednesday in the capital, Pyongyang, and reached a consensus on unspecified «matters of mutual concern in the field of national defense and security and on the regional and international security environment.» The report did not specify what was discussed.

The Russian business community and financial experts have spoken about the potential pitfalls – and possible advantages – of a digital ruble as Moscow prepares for the August launch of a CBDC pilot.

GAIL is planning to tie up 7-8 million tonnes per annum of long-term liquefied natural gas (LNG) from diverse sources as it bets big on domestic gas demand and aims to play a leading role in India’s transformation into a gas-based economy, its chairman has said. “GAIL is committed to ensuring that the domestic demand is well supplied and protected from price shocks. To do the same, GAIL is looking to grow its long-term volumes by at least 50% or 7-8 million metric tonnes per annum in a staggered manner till 2030,” GAIL chairman and managing director Sandeep Kumar Gupta told ET in an interview. The company is in talks with suppliers in several countries including the US, Qatar, the UAE, and other countries east of India, he added. Gupta, the former finance chief of Indian Oil Corp, took over as the chairman and managing director of GAIL last October in the middle of a global energy crisis that had cut off afifth of its LNG supplies after a former German unit of Russia’s Gazprom stopped supplying. “We managed well. The supply cut to our customers was much smaller as we brought in our US volumes to meet their demand,” said Gupta. After the global markets cooled off this year, the supplies resumed but GAIL has learnt its lessons.