Russia's economy minister calls for 'timely' rate cut to boost growth
MOSCOW, June 3 (Reuters) - Russia's economy minister Maxim Reshetnikov said on Tuesday that the central bank should ease monetary policy in a timely manner in order to achieve growth of 3%, a target set by President Vladimir Putin.
Reshetnikov's comments came before the central bank reviews its key interest rate on June 6. A Reuters poll of 26 economists has predicted that the regulator will keep the key rate on hold at 21%.
Economists expect Russian economic growth to slow to 1.5% in 2025 from 4.3% last year. The government forecasts 2.5% GDP growth this year.
"The current task is to navigate the cooling-off period. We are counting on a timely easing of monetary policy to maintain the targeted 3% growth rate outlined by the president in the future," Reshetnikov said.
The minister said that output was falling in an increasing number of real economy sectors while a slowdown in lending was hitting demand for engineering products, special equipment, freight transport, light commercial vehicles and buses.
The central bank is under pressure from businesses to start cutting the key rate. However Governor Elvira Nabiullina has resisted the pressure, arguing that the bank needs to see a sustainable disinflationary trend before it can begin to ease rates.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
30 minutes ago
- Daily Mail
U.S. trans mercenary who fought for Ukraine handed 20-year jail term for 'spreading fake news'
Russia has sentenced a U.S. trans woman who fought for Ukraine to 20 years in prison. Sarah Ashton-Cirillo, 47, was found guilty Tuesday of being a mercenary for Kyiv 's forces and spreading fake news about Russia's forces. The former journalist had been volunteering as a medic for Ukraine's Territorial Defense Forces (TDF) and briefly served as its spokesperson. She was found guilty by the Supreme Court of the Donetsk People's Republic in occupied Ukraine. Ashton-Cirillo traveled to Ukraine shortly after Russia's full-scale invasion in February 2022 to cover the conflict as a war correspondent for the U.S. publication LGBTQ Nation. Within a matter of months, she resigned her post and volunteered to join the Ukrainian army, fighting as part of Kharkiv's 113th Territorial Defense Brigade, and was made a junior sergeant. In 2023 she withdrew from the frontline, having suffered injuries amid a Russian artillery attack on her unit's position, and was appointed as an English-language spokesperson for the TDF. In this role, she launched a YouTube show entitled Russia Hates The Truth which she reviewed and debunked Moscow's disinformation campaigns, catching the eye of Russian media controllers. Russian authorities added Ashton-Cirillo to a 'register of extremists and terrorists' and opened a criminal case against her in 2024, months after she said Russian journalists affiliated with state media would be 'hunted down.' She was sentenced in absentia by the court in Donetsk, meaning that she would be liable to face the full jail term if captured by Russian forces. Ashton-Cirillo courted controversy in August 2023 after her work with the Ukrainian TDF was brought to the attention of U.S. Vice President JD Vance, who at the time was a Republican senator. Vance penned a letter to then-U.S. Secretary of State Antony Blinken, Secretary of Defense Lloyd Austin and Director of National Intelligence Avril Haines in which he accused the junior sergeant of threatening 'physical violence to anyone who circulates Russian propaganda' during a video message she had made while in post. He also wanted to know whether Ashton-Cirillo was being 'compensated using American resources' and questioned whether U.S. officials had 'reason to believe Ukrainian forces or intelligence services are planning to commit acts of violence against those who engage in "Russian propaganda." ' But Ashton-Cirillo went on to release a follow-up video amid Vance's speculation in which she told viewers that 'Russian devils' would 'pay for their crimes,' with Ukrainian TDF branding in the background. The release of the clip coincided with a visit to Washington by Ukrainian President Volodymyr Zelensky, and was not approved by the Ukrainian TDF, leading to her suspension. Speaking to in 2023, Ashton-Cirillo admitted she had not sought approval from her superiors before posting her response to Vance. 'Russia Hates The Truth doesn't require anything to be vetted - I and the TDF team have editorial control over that. 'It's meant to be as over the top as possible. 'It was my response to Senator Vance in uniform in front of the TDF logo without approval which was the reason for my suspension. 'I told my team that I was going to do it, but given that it was something as sensitive as a response to a U.S. Senator in a public setting, it needed to be approved. 'I couldn't believe it that there was a U.S. Senator trying to unmask me. 'It wasn't my message to him that was a problem, it was that President Zelensky was on a trip to the U.S. at the time and I probably should have held back in responding.' She was later cleared of wrongdoing and reinstated, but quickly moved into another unspecified role in Ukraine's Armed Forces. Ashton-Cirillo remains in Ukraine as of May 2025 and is engaged in promoting fundraising and crowdfunding campaigns to help Ukrainian soldiers wounded on the frontlines. The Russian-controlled court took umbrage with Ashton-Cirillo's vow to 'hunt down' Russian state-affiliated journalists and allegations that Russian forces had used biological weapons in operations in Ukraine and Syria. A court statement on the ruling against Ashton-Cirillo was published yesterday. It reads: 'The Supreme Court of the Donetsk People's Republic has issued a verdict in absentia in the criminal case against 47-year-old U.S. citizen Sarah Ashton-Cirillo. 'She was found guilty under paragraph 'd' of Part 2 of Article 207.3 of the Criminal Code of the Russian Federation (public dissemination of knowingly false information about the use of the Armed Forces of the Russian Federation), Part 3 of Article 359 of the Criminal Code of the Russian Federation (participation of a mercenary in an armed conflict). 'The court established that... the mercenary arrived in Ukraine, voluntarily joined the International Legion, and was then assigned to the 113th Territorial Defense Brigade of Ukraine. 'She underwent military training at training bases and was provided with firearms, ammunition, uniforms, and special equipment. Ashton-Cirillo took part in combat operations on the side of the Ukrainian security forces against servicemen of the Armed Forces of the Russian Federation. 'In August 2023, she prepared a video story, which she posted on the Internet, about the alleged stockpiles of biological weapons created in Russia and the use of chemical weapons by the Russian Armed Forces in the Syrian Arab Republic, as well as on the territory of Ukraine during a special military operation. 'The mercenary has been placed on an international wanted list, and the court has chosen a preventive measure in the form of detention in absentia against her. 'Taking into account the position of the state prosecutor, the court sentenced Ashton-Cirillo in absentia to 20 years of imprisonment to be served in a general regime penal colony.'
North Wales Chronicle
30 minutes ago
- North Wales Chronicle
Russian strike kills five, including toddler, hours after Trump calls Putin
Six drones hit a residential area in the city at 5.30am local time, according to authorities. The child killed was the grandson of an emergency responder, Ukrainian President Volodymyr Zelensky said. 'One of the rescuers arrived to respond to the aftermath right at his own home,' Mr Zelensky said in a post on Telegram. 'It turned out that a Shahed drone hit his house.' The attack came just hours after US President Donald Trump spoke by phone to Russian President Vladimir Putin. According to Mr Trump, Mr Putin said 'very strongly' that Russia will retaliate for Ukraine's weekend drone attacks on Russian military airfields. Six people were wounded in the Pryluky attack and are in hospital, officials said. Pryluky, which had a pre-war population of around 50,000 people, lies about 100 kilometres (60 miles) east of Kyiv, the capital. The city is far from the front line and does not contain any known military assets. Mr Zelensky said a total of 103 drones and one ballistic missile targeted multiple Ukrainian regions overnight, including Donetsk, Kharkiv, Odesa, Sumy, Chernihiv, Dnipro and Kherson. 'This is another massive strike,' Mr Zelensky said. 'It is yet another reason to impose the strongest possible sanctions and apply pressure collectively.' Mr Zelensky, who has accepted a US ceasefire proposal and offered to meet Mr Putin in an attempt to break the stalemate in negotiations, wants more international sanctions on Russia to force it to accept a settlement. Mr Putin has shown no willingness to meet Mr Zelensky, however, and has indicated no readiness to compromise. US-led diplomatic efforts to stop the more than three-year war have delivered no significant progress, and the grinding war of attrition has continued unabated. Germany's new leader Friedrich Merz was due to meet Mr Trump in Washington on Thursday as he works to keep the US on board with Western diplomatic and military support for Ukraine. Ukraine's top presidential aide, Andriy Yermak, met senior American officials in Washington on Wednesday and called for greater US pressure on Russia, accusing the Kremlin of deliberately stalling ceasefire talks and blocking progress toward peace, according to a statement on the presidential website. Mr Yermak, who travelled to the US as part of a Ukrainian delegation, met senior American officials to bolster support for Ukraine's defence and humanitarian priorities. He said Ukraine urgently needs stronger air defence capabilities. Hours after the Pryluky attack, 17 people were injured in a Russian drone strike on the eastern Ukrainian city of Kharkiv. Those hurt included children, a pregnant woman, and a 93-year-old woman, regional Governor Oleh Syniehubov wrote on Telegram. At around 1.05am, Shahed-type drones struck two apartment buildings in the city's Slobidskyi district, causing fires and destroying several private vehicles. 'By launching attacks while people sleep in their homes, the enemy once again confirms its tactic of insidious terror,' Mr Syniehubov wrote on Telegram. Russian aircraft also dropped four powerful glide bombs on the southern city of Kherson, injuring at least three people, regional authorities said.
Scottish Sun
39 minutes ago
- Scottish Sun
Now Pornhub ban spreads to EUROPE in row over under-18 access – and it includes two other major X-rated sites
The website is blocked in France as the company that owns it objects to a new age verification rule BLEU MOVIES Now Pornhub ban spreads to EUROPE in row over under-18 access – and it includes two other major X-rated sites PORNHUB has pulled out of France as a stringent clampdown on adult sites makes its way to Europe. A furious backlash over the country's new age verification rules has prompted the site to block access. Advertisement 6 French minister Aurore Berge said the decision meant there would be "less violent, degrading and humiliating content accessible to minors in France" Credit: Getty 6 Pornhub is the world's most visited porn site, with France being one of its biggest markets Credit: Getty 6 Aurore Berge added: "Pornhub, Youporn, and RedTube refuse to comply with our legal framework and decide to leave. Good!" Credit: Getty It comes over objections to a new law requiring porn sites to verify the age of users. Aylo, the adult entertainment company that owns Pornhub, has announced it will block access to the site in France as a result. The company claims the French law poses a privacy risk to users. The law could see users required to enter credit card details or other forms of official ID to verify their age. Advertisement Aylo also runs other popular porn sites such as Youporn and RedTube - which will also now be unavailable in France. The company argues that device-based age verification is a better solution than requiring porn sites to police the age of users. Aylo's VP for Brand and Community Alex Kekesi said: "All it requires is that the government enforce regulations on three companies – Apple, Google and Microsoft – the three operating system manufacturers requiring age verification at the device level prior to accessing adult content. "The French government refuses to take this simple step and instead are focused on futile and entirely symbolic regulatory actions which are unenforceable, do not protect children and expose your private data." Advertisement Pornhub is the world's most visited porn site, with France being one of its biggest markets. The website claims that France was its second biggest audience in 2024 after the United States. Kekesi added: "We've made the difficult decision to suspend access to our sites in France and instead use our platforms to speak directly to the French people. "French citizens deserve a government and a regulator who are serious about preventing children from accessing adult content. Advertisement "They also deserve laws which protect their privacy and safeguard their sensitive data." Greenpeace activists swipe Emmanuel Macron waxwork from Paris's Grevin Museum before using it in anti-Russia protest- 6 The company argues that device-based age verification is a better solution Credit: Alamy French Gender Equality Minister Aurore Bergé posted on X that Aylo's decision meant there would be "less violent, degrading and humiliating content accessible to minors in France". She added: "Pornhub, Youporn, and RedTube refuse to comply with our legal framework and decide to leave. Good!" Advertisement It comes after Aylo made similar moves to block access to its porn sites in several US states over age verification laws. So far, 19 US states have passed laws requiring porn sites to verify users's age. 6 The European Commission has also launched an investigation into several adult websites Credit: AFP The bans cover around one third of the US population. Advertisement Methods of checking under these laws can include providing a government-issued ID or even scanning a user's face. It has seen many porn sites opt to block access to their pages rather than implement such verification systems. States that have implemented these laws include Texas, Florida, Arizona and Virginia. The European Commission has also launched an investigation into several adult websites - including Pornhub - over accusations they had not complied with regulations aimed at stopping minors accessing porn. Advertisement The UK also has a law requiring platforms to have "robust" age checks in place by July. It is currently unclear whether the same porn platforms will also block access to their sites in Britain when this comes into force.
