Latest news with #RussianCentralBank
New York Post
6 days ago
- Politics
- New York Post
Trump's slam on ‘crazy' Vlad: Letters to the Editor — May 30, 2025
The Issue: President Trump's post saying Russia's Vladimir Putin 'has gone absolutely crazy.' It's abundantly clear that President Trump's all-carrots approach to coax Vladimir Putin to the peace table has only emboldened his intransigence ('Stark raving Vlad,' May 27). The president's recent post on social media saying Putin 'has gone absolutely crazy' is stating the obvious — but actions speak louder than words, Trump. In Putin's eyes, the root of the problem is Ukraine's existence as a sovereign state. Therein lies the real problem, and the only solution is a maximum sanctions pressure campaign against Vlad's war machine as well as extending a renewed military lifeline to the beleaguered victim. James Hyland Beechhurst Trump calling Putin crazy and Russia calling Trump 'mentally unstable' show just how out-of-touch these two dinosaurs are, as innocent Ukrainian civilians are slaughtered in their sleep. Heaven help us all. Ron Spurga Manhattan All Ukraine war peace talks must stop. Russian sanctions must be maximized, including a 100% embargo on oil trade. The European Union should confiscate $300 billion in frozen Russian Central Bank reserves to help Ukraine defray the war's damages. If America and the EU wish to return to democratic norms, they will supply Ukraine with all the necessary offensive weapons to subdue Russia. Larry Sylvester Ontario, Canada Is Putin really crazy like Trump thinks, or is he still just crazy like a fox? It really doesn't matter anymore — the time has come to take action. It's time to max out tariffs on countries that import oil and gas from Russia, arm Ukraine to the teeth and confiscate Russian assets. If not now, then when? When Putin destroys more property and butchers more innocent people? We are well past the name-calling stage. Rob Feuerstein Staten Island I just hope that these two do not huck nuclear bombs at each other. May the level-headed people of society prevail. One thing I need to point out is that if President Trump invades Canada, he is just as wrong as Putin is for invading Ukraine. If it is wrong for Putin to invade a neighbor, it should also be considered wrong for Trump to invade a neighbor. Furthermore, betraying the trust of a foreign power, such as Canada, is an impeachable offense. Sean Murray Victoria, Canada The Issue: The clear danger that extremist rhetoric such as 'Free, free Palestine' poses to Jewish people. It's just a matter of time before more innocent Jews are killed in the name of 'Free, free Palestine' ('Matter of time,' David Harris, May 25). It's just a matter of time before young children are taught antisemitism in schools in the name of 'Free, free Palestine.' If the world at large does not participate in a meaningful seismic shift in attitude and action to shut down the slow but steady radicalization of people like Elias Rodriguez, then we will see antisemitism rationalized and magnified here in America and abroad. Amy Hendel Tarzana, Calif. Oliver Wendell Holmes Jr. defined the limits of free speech in 1919, stating that speech posing a 'clear and present danger' exceeds the parameters of free speech. Shouting 'Free Palestine' or 'Intifada' is a clear and present call to kill Jews. The actions of Rodriguez were indicative of the language commonly used to rally hatred against Jews. Not only Jews, but also black people, Catholics and other Americans need to take back their civil rights. Joel Glazer Elizabeth, NJ Want to weigh in on today's stories? Send your thoughts (along with your full name and city of residence) to letters@ Letters are subject to editing for clarity, length, accuracy, and style.
Free Malaysia Today
23-05-2025
- Business
- Free Malaysia Today
Taliban in talks with Russia, China for trade transactions in local currencies
Billions of dollars in cuts to aid to Afghanistan, accelerated this year by the US, have meant far fewer dollars are entering the country. (AP pic) KABUL : The Taliban administration is in advanced talks with Russia for banks from both sanctions-hit economies to settle trade transactions worth hundreds of millions of dollars in their local currencies, Afghanistan's acting commerce minister said. The Afghan government has made similar proposals to China, the minister, Haji Nooruddin Azizi, told Reuters on Thursday. Some discussions have been held with the Chinese embassy in Kabul, he said. The proposal with Russia, Azizi said, was being worked on by technical teams from the two countries. The move comes as Moscow focuses on using national currencies to shift reliance away from the dollar and as Afghanistan faces a stark drop in the US currency entering the country due to aid cuts. 'We are currently engaged in specialised discussions on this matter, considering the regional and global economic perspectives, sanctions, and the challenges Afghanistan is currently facing, as well as those Russia is dealing with. Technical discussions are underway,' Azizi said in an interview at his office in Kabul. The Chinese foreign ministry and the Russian central bank did not immediately respond to requests for comment. Azizi added that annual bilateral trade between Russia and Afghanistan was currently around US$300 million and that was likely to grow substantially as the two sides boost investment. His administration expected Afghanistan to buy more petroleum products and plastics from Russia, he said. 'I am confident that this is a very good option…we can use this option for benefit and interests of our people and our country,' Azizi said. 'We want to take steps in this area with China as well,' he said, adding Afghanistan had around US$1 billion in trade with China each year. 'A working team composed of members from the (Afghan) ministry of commerce and the Chinese embassy which is an authorized body representing China in economic programmes has been formed, and talks are ongoing.' Afghanistan's financial sector has been largely cut off from the global banking system due to sanctions placed on some leaders of the ruling Taliban, which took over the country in 2021 as foreign forces withdrew. Rivalry with China and fallout from Russia's war in Ukraine have put the dollar's status as the world's dominant currency under fresh scrutiny in recent years. In December, Russian President Vladimir Putin questioned the need to hold state reserves in foreign currencies since they could easily be confiscated for political reasons, saying that domestic investment of such reserves was more attractive. The dollar has had a lock on commodity trading, allowing Washington to hinder market access for producer nations from Russia to Venezuela and Iran. Afghanistan since 2022 has imported gas, oil and wheat from Russia, the first major economic deal after the Taliban returned to power facing international isolation following 20 years of war against US-led forces. Billions of dollars in cuts to aid to Afghanistan, accelerated this year by the US, have meant far fewer dollars, which are flown in cash for humanitarian operations, are entering the country. Development agencies and economists say the Afghani currency has so far remained relatively stable but may face challenges in future. Azizi said that the stability of the currency and his administration's efforts to boost international investment including with the Afghan diaspora, would prevent a shortage of US dollars in the country.
Arab News
23-05-2025
- Business
- Arab News
Taliban in talks with Russia, China for trade transactions in local currencies
KABUL: The Taliban administration is in advanced talks with Russia for banks from both sanctions-hit economies to settle trade transactions worth hundreds of millions of dollars in their local currencies, Afghanistan's acting commerce minister Afghan government has made similar proposals to China, the minister, Hajji Nooruddin Azizi, told Reuters on Thursday. Some discussions have been held with the Chinese embassy in Kabul, he proposal with Russia, Azizi said, was being worked on by technical teams from the two countries. The move comes as Moscow focuses on using national currencies to shift reliance away from the dollar and as Afghanistan faces a stark drop in the US currency entering the country due to aid cuts.'We are currently engaged in specialized discussions on this matter, considering the regional and global economic perspectives, sanctions, and the challenges Afghanistan is currently facing, as well as those Russia is dealing with. Technical discussions are underway,' Azizi said in an interview at his office in Chinese foreign ministry and the Russian central bank did not immediately respond to requests for added that annual bilateral trade between Russia and Afghanistan was currently around $300 million and that was likely to grow substantially as the two sides boost investment. His administration expected Afghanistan to buy more petroleum products and plastics from Russia, he said.'I am confident that this is a very good can use this option for benefit and interests of our people and our country,' Azizi said.'We want to take steps in this area with China as well,' he said, adding Afghanistan had around $1 billion in trade with China each year. 'A working team composed of members from the (Afghan) Ministry of Commerce and the Chinese embassy which is an authorized body representing China in economic programs has been formed, and talks are ongoing.'Afghanistan's financial sector has been largely cut off from the global banking system due to sanctions placed on some leaders of the ruling Taliban, which took over the country in 2021 as foreign forces with China and fallout from Russia's war in Ukraine have put the dollar's status as the world's dominant currency under fresh scrutiny in recent years. In December, Russian President Vladimir Putin questioned the need to hold state reserves in foreign currencies since they could easily be confiscated for political reasons, saying that domestic investment of such reserves was more dollar has had a lock on commodity trading, allowing Washington to hinder market access for producer nations from Russia to Venezuela and since 2022 has imported gas, oil and wheat from Russia, the first major economic deal after the Taliban returned to power facing international isolation following 20 years of war against US-led of dollars in cuts to aid to Afghanistan, accelerated this year by the United States, have meant far fewer dollars, which are flown in cash for humanitarian operations, are entering the agencies and economists say the Afghani currency has so far remained relatively stable but may face challenges in said that the stability of the currency and his administration's efforts to boost international investment including with the Afghan diaspora, would prevent a shortage of US dollars in the country.
Yahoo
08-05-2025
- Business
- Yahoo
Putin asks Xi Jinping to build factories in Russia: China refrains for now
Russian ruler Vladimir Putin has stated during talks with Chinese leader Xi Jinping that Russia will welcome Chinese production facilities on its territory. Source: The Moscow Times, an independent Amsterdam-based news outlet Quote from Putin: "Russia has become the world's main importer of Chinese cars. Meanwhile, we welcome the establishment and transfer of Chinese industrial expertise in our country." Details: Putin added that Moscow is ready to provide "comfortable conditions for Chinese companies to operate in Russia" and described Russo-Chinese relations as "a benchmark of interstate communication in the 21st century". However, The Moscow Times noted that although Beijing has become Moscow's largest trading partner since the Kremlin launched its full-scale war against Ukraine, it has so far refrained from significant investment in the real sector of the Russian economy. Statistics from the Russian Central Bank show that over the past three years, there has been no significant capital inflow from countries the Kremlin considers friendly. On the contrary, the total volume of foreign direct investment in Russia has continued to decline, falling by US$138 billion in 2022, US$80 billion in 2023 and a further US$63 billion last year. Since the start of the full-scale invasion, Russia has lost 57% of its foreign investment, with the total volume dropping to US$216 billion – the lowest level since 2009, according to the Russian Central Bank. Background: Kyzyl-Tashtygsky GOK, one of Russia's largest mining and processing plants and owned by China's Zijin Mining Group, is suspending operations due to difficulties with financial transactions. Support Ukrainska Pravda on Patreon!
Reuters
25-04-2025
- Business
- Reuters
Russia's Nabiullina on rates, inflation, the rouble and tariffs
MOSCOW, April 25 (Reuters) - Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank held its key rate at 21%, as expected. Nabiullina and Zabotkin spoke in Russian. The quotes below were translated into English by Reuters. NABIULLINA ON RATE DECISION "We had a broad consensus to keep the rate on hold. We discussed, rather, the nuances of the signal." "Some time ago we identified some triggers that would allow us to raise the issue of lowering the key analyse a wide range of factors and trends, but first of all we pay attention to a truly steady decline in current inflation, a steady decline in inflation expectations." "We have also noted the slowdown in consumer activity, consumer lending, reduced tension in the labour market and the absence of pro-inflationary shocks from the budget or external conditions. In terms of these factors, we already see some evidence of momentum, but we need more confidence that all of this is sufficiently sustainable. Although, compared to the last (rate-setting) meeting, many processes probably look more steady now." NABIULLINA ON INFLATION "...We passed the peak (of inflation) in the fourth the turning point and the transition to a decline in annual inflation, in our opinion, will occur in increase in inflation is possible in July". NABIULLINA ON THE ROUBLE EXCHANGE RATE "We tend to attribute a larger part of the strengthening that has occurred since the beginning of the year to more stable factors, primarily related to the action of tight monetary part of the rouble strengthening is part of the process of disinflation, more restrained dynamics of demand, greater attractiveness of the rouble as a means of saving." "But we are still not ready to attribute all the strengthening of the rouble to the monetary policy news background related to geopolitics makes its own contribution. And in this regard it is probably premature to talk about the sustainability of the strengthening of the exchange rate. Here we need not only market expectations, but also actual shifts." *NABIULLINA ON TARIFFS "The situation is developing dynamically, and we will have to keep track of what level of import tariffs will eventually emerge. We have taken into account the factor of trade wars in our forecast - we have lowered the growth rate of the world economy, we have slightly reduced the estimate of oil prices. Because the main channel of influence of these tariff wars on the Russian economy is a decrease in prices for the main goods of our exports. The other effects, in our opinion, are more limited, given the structure of foreign trade and the fact that there are restrictions on financial flows." "The volume of Russian exports to the U.S. is insignificant and there is no need to stimulate domestic demand to replace the falling external demand in these conditions. So for us the direct impact is minimal. For us, the impact of tariffs is more indirect, primarily through weaker global demand, lower global commodity prices - and this is a pro-inflationary risk." *ZABOTKIN ON TARIFFS "Obviously, the impact of trade wars will strongly depend on the scale of protectionist measures and the fragmentation of world trade that will eventually emerge. This is a factor of considerable uncertainty relative to our baseline forecast. The current picture has not led to a significant change in the baseline forecast to date."
