Latest news with #MOEX
Indian Express
2 days ago
- Business
- Indian Express
‘I'm disappointed in Putin': Trump suggests he may cut 50-day deadline over Ukraine ceasefire
US President Donald Trump said on Monday that he may shorten the 50-day deadline he gave to Russian President Vladimir Putin to reach a ceasefire deal over the war in Ukraine. 'I'm disappointed in President Putin,' Trump said while speaking alongside UK Prime Minister Keir Starmer in Scotland, according to Reuters. 'I'm going to reduce that 50 days that I gave him to a lesser number.' However, Trump did not say what the new timeline would be. Two weeks ago, Trump threatened 'very severe tariffs' on Russia's trading partners 'if we don't have a deal in 50 days' The BBC reported that Trump was responding to a question from a journalist about the Ukraine conflict. He said he had been close to reaching a ceasefire agreement with Putin five times. 'I've spoken to President Putin a lot. I've gotten along with him very well,' Trump said, according to the BBC. 'But then he goes out and starts launching rockets into some city, like Kyiv, and kills a lot of people in a nursing home or whatever you have bodies lying all over the street.' Trump added, 'I may reduce that 50 days that I gave him to a lesser number, because I think I already know the answer what's going to happen.' Following Trump's remarks, Russia's MOEX stock index dropped by as much as 1.2% during the day, according to Reuters. The index was down 0.8% from yesterday's close as of 1219 GMT, MOEX data showed. Russia's Foreign Ministry responded by rejecting Trump's approach. 'The language of ultimatums, blackmail, and threats is unacceptable to Moscow,' it said. The ministry also called the threat of new sanctions 'mundane. (With inputs from Reuters and BBC)
Mint
2 days ago
- Business
- Mint
Trump says will cut 50-day deadline for Russia to end Ukraine war
US President Donald Trump said on Monday he will cut the 50-day deadline he gave to Russian President Vladimir Putin to end the war in Ukraine. "I'm disappointed in President Putin, very disappointed in him. So we're going to have to look and I'm going to reduce that 50 days that I gave him to a lesser number," Trump said while speaking alongside British Prime Minister Keir Starmer ahead of their meeting in Turnberry in western Scotland. In Russia, the Moscow Exchange Index (MOEX) declined by 0.93% on Monday after Trump's comments on reducing 50-day deadline for Russia to agree to a ceasefire in Ukraine.
The Advertiser
6 days ago
- Business
- The Advertiser
Why the rouble is one of the best performing currencies
The Russian rouble's 45 per cent rise against the US dollar since the start of the year has made it one of the world's best performing currencies - but the sharp appreciation is proving to be a double-edged sword for the heavily sanctioned Russian economy. WHY HAS THE ROUBLE RISEN SO MUCH AGAINST THE DOLLAR? The weakness of the US currency, whose index lost 6.6 per cent since President Donald Trump's "Liberation Day" tariff announcement on April 2, has helped the rouble Although the central bank says there is a freely floating exchange rate, it has been selling the Chinese yuan, its only major intervention tool, to support the rouble When the rouble strengthens against the yuan, its rate against the US dollar strengthens as well to avoid arbitrage HOW IS THE ROUBLE TRADED? Since sanctions hit the Moscow Stock Exchange (MOEX) in 2024, the rouble trades over-the-counter against the US dollar and euro Banks report their quotes to the central bank, which uses them to set the official rate The rouble is no longer a major internationally traded currency and many Western companies and banks have left Russia but the country remains a top oil and agriculture exporter and the world's 11th largest economy Russia's push to shift trade into non-Western currencies, especially the yuan, may have implications for the global dominance of the US dollar in the long-term WHY IS ROUBLE-YUAN THE BIGGEST PAIR? The yuan has overtaken the US dollar as Russia's most traded foreign currency Russia's total trade with China hit a record $US245 billion The rouble is up against the yuan by 25 per cent this year WHAT DOES THE RUSSIAN GOVERNMENT SAY ABOUT THE ROUBLE? The Russian government wants a weaker rouble to boost budget revenues If the rouble stays strong, analysts estimate the budget could lose 2.4 per cent of its revenues this year Exporters, from oil to metals to agriculture, are also hurting HOW DO ORDINARY RUSSIANS VALUE THE ROUBLE? The public still sees the US dollar as the benchmark, even though yuan use is rising Sanctions have made foreign travel and US dollar and euro international transfers harder, reducing demand for cash dollars WHAT LIES AHEAD FOR THE ROUBLE? A big test looms in early September, when a 50-day deadline set by US President Donald Trump for Russia to show progress toward peace in Ukraine expires If new US sanctions targeting buyers of Russian oil follow, the rouble could come under renewed pressure The last time the rouble weakened significantly was in November 2024, after Washington sanctioned Gazprombank, which had handled oil and gas payments The Russian rouble's 45 per cent rise against the US dollar since the start of the year has made it one of the world's best performing currencies - but the sharp appreciation is proving to be a double-edged sword for the heavily sanctioned Russian economy. WHY HAS THE ROUBLE RISEN SO MUCH AGAINST THE DOLLAR? The weakness of the US currency, whose index lost 6.6 per cent since President Donald Trump's "Liberation Day" tariff announcement on April 2, has helped the rouble Although the central bank says there is a freely floating exchange rate, it has been selling the Chinese yuan, its only major intervention tool, to support the rouble When the rouble strengthens against the yuan, its rate against the US dollar strengthens as well to avoid arbitrage HOW IS THE ROUBLE TRADED? Since sanctions hit the Moscow Stock Exchange (MOEX) in 2024, the rouble trades over-the-counter against the US dollar and euro Banks report their quotes to the central bank, which uses them to set the official rate The rouble is no longer a major internationally traded currency and many Western companies and banks have left Russia but the country remains a top oil and agriculture exporter and the world's 11th largest economy Russia's push to shift trade into non-Western currencies, especially the yuan, may have implications for the global dominance of the US dollar in the long-term WHY IS ROUBLE-YUAN THE BIGGEST PAIR? The yuan has overtaken the US dollar as Russia's most traded foreign currency Russia's total trade with China hit a record $US245 billion The rouble is up against the yuan by 25 per cent this year WHAT DOES THE RUSSIAN GOVERNMENT SAY ABOUT THE ROUBLE? The Russian government wants a weaker rouble to boost budget revenues If the rouble stays strong, analysts estimate the budget could lose 2.4 per cent of its revenues this year Exporters, from oil to metals to agriculture, are also hurting HOW DO ORDINARY RUSSIANS VALUE THE ROUBLE? The public still sees the US dollar as the benchmark, even though yuan use is rising Sanctions have made foreign travel and US dollar and euro international transfers harder, reducing demand for cash dollars WHAT LIES AHEAD FOR THE ROUBLE? A big test looms in early September, when a 50-day deadline set by US President Donald Trump for Russia to show progress toward peace in Ukraine expires If new US sanctions targeting buyers of Russian oil follow, the rouble could come under renewed pressure The last time the rouble weakened significantly was in November 2024, after Washington sanctioned Gazprombank, which had handled oil and gas payments The Russian rouble's 45 per cent rise against the US dollar since the start of the year has made it one of the world's best performing currencies - but the sharp appreciation is proving to be a double-edged sword for the heavily sanctioned Russian economy. WHY HAS THE ROUBLE RISEN SO MUCH AGAINST THE DOLLAR? The weakness of the US currency, whose index lost 6.6 per cent since President Donald Trump's "Liberation Day" tariff announcement on April 2, has helped the rouble Although the central bank says there is a freely floating exchange rate, it has been selling the Chinese yuan, its only major intervention tool, to support the rouble When the rouble strengthens against the yuan, its rate against the US dollar strengthens as well to avoid arbitrage HOW IS THE ROUBLE TRADED? Since sanctions hit the Moscow Stock Exchange (MOEX) in 2024, the rouble trades over-the-counter against the US dollar and euro Banks report their quotes to the central bank, which uses them to set the official rate The rouble is no longer a major internationally traded currency and many Western companies and banks have left Russia but the country remains a top oil and agriculture exporter and the world's 11th largest economy Russia's push to shift trade into non-Western currencies, especially the yuan, may have implications for the global dominance of the US dollar in the long-term WHY IS ROUBLE-YUAN THE BIGGEST PAIR? The yuan has overtaken the US dollar as Russia's most traded foreign currency Russia's total trade with China hit a record $US245 billion The rouble is up against the yuan by 25 per cent this year WHAT DOES THE RUSSIAN GOVERNMENT SAY ABOUT THE ROUBLE? The Russian government wants a weaker rouble to boost budget revenues If the rouble stays strong, analysts estimate the budget could lose 2.4 per cent of its revenues this year Exporters, from oil to metals to agriculture, are also hurting HOW DO ORDINARY RUSSIANS VALUE THE ROUBLE? The public still sees the US dollar as the benchmark, even though yuan use is rising Sanctions have made foreign travel and US dollar and euro international transfers harder, reducing demand for cash dollars WHAT LIES AHEAD FOR THE ROUBLE? A big test looms in early September, when a 50-day deadline set by US President Donald Trump for Russia to show progress toward peace in Ukraine expires If new US sanctions targeting buyers of Russian oil follow, the rouble could come under renewed pressure The last time the rouble weakened significantly was in November 2024, after Washington sanctioned Gazprombank, which had handled oil and gas payments The Russian rouble's 45 per cent rise against the US dollar since the start of the year has made it one of the world's best performing currencies - but the sharp appreciation is proving to be a double-edged sword for the heavily sanctioned Russian economy. WHY HAS THE ROUBLE RISEN SO MUCH AGAINST THE DOLLAR? The weakness of the US currency, whose index lost 6.6 per cent since President Donald Trump's "Liberation Day" tariff announcement on April 2, has helped the rouble Although the central bank says there is a freely floating exchange rate, it has been selling the Chinese yuan, its only major intervention tool, to support the rouble When the rouble strengthens against the yuan, its rate against the US dollar strengthens as well to avoid arbitrage HOW IS THE ROUBLE TRADED? Since sanctions hit the Moscow Stock Exchange (MOEX) in 2024, the rouble trades over-the-counter against the US dollar and euro Banks report their quotes to the central bank, which uses them to set the official rate The rouble is no longer a major internationally traded currency and many Western companies and banks have left Russia but the country remains a top oil and agriculture exporter and the world's 11th largest economy Russia's push to shift trade into non-Western currencies, especially the yuan, may have implications for the global dominance of the US dollar in the long-term WHY IS ROUBLE-YUAN THE BIGGEST PAIR? The yuan has overtaken the US dollar as Russia's most traded foreign currency Russia's total trade with China hit a record $US245 billion The rouble is up against the yuan by 25 per cent this year WHAT DOES THE RUSSIAN GOVERNMENT SAY ABOUT THE ROUBLE? The Russian government wants a weaker rouble to boost budget revenues If the rouble stays strong, analysts estimate the budget could lose 2.4 per cent of its revenues this year Exporters, from oil to metals to agriculture, are also hurting HOW DO ORDINARY RUSSIANS VALUE THE ROUBLE? The public still sees the US dollar as the benchmark, even though yuan use is rising Sanctions have made foreign travel and US dollar and euro international transfers harder, reducing demand for cash dollars WHAT LIES AHEAD FOR THE ROUBLE? A big test looms in early September, when a 50-day deadline set by US President Donald Trump for Russia to show progress toward peace in Ukraine expires If new US sanctions targeting buyers of Russian oil follow, the rouble could come under renewed pressure The last time the rouble weakened significantly was in November 2024, after Washington sanctioned Gazprombank, which had handled oil and gas payments
Perth Now
6 days ago
- Business
- Perth Now
Why the rouble is one of the best performing currencies
The Russian rouble's 45 per cent rise against the US dollar since the start of the year has made it one of the world's best performing currencies - but the sharp appreciation is proving to be a double-edged sword for the heavily sanctioned Russian economy. WHY HAS THE ROUBLE RISEN SO MUCH AGAINST THE DOLLAR? The weakness of the US currency, whose index lost 6.6 per cent since President Donald Trump's "Liberation Day" tariff announcement on April 2, has helped the rouble Although the central bank says there is a freely floating exchange rate, it has been selling the Chinese yuan, its only major intervention tool, to support the rouble When the rouble strengthens against the yuan, its rate against the US dollar strengthens as well to avoid arbitrage HOW IS THE ROUBLE TRADED? Since sanctions hit the Moscow Stock Exchange (MOEX) in 2024, the rouble trades over-the-counter against the US dollar and euro Banks report their quotes to the central bank, which uses them to set the official rate The rouble is no longer a major internationally traded currency and many Western companies and banks have left Russia but the country remains a top oil and agriculture exporter and the world's 11th largest economy Russia's push to shift trade into non-Western currencies, especially the yuan, may have implications for the global dominance of the US dollar in the long-term WHY IS ROUBLE-YUAN THE BIGGEST PAIR? The yuan has overtaken the US dollar as Russia's most traded foreign currency Russia's total trade with China hit a record $US245 billion The rouble is up against the yuan by 25 per cent this year WHAT DOES THE RUSSIAN GOVERNMENT SAY ABOUT THE ROUBLE? The Russian government wants a weaker rouble to boost budget revenues If the rouble stays strong, analysts estimate the budget could lose 2.4 per cent of its revenues this year Exporters, from oil to metals to agriculture, are also hurting HOW DO ORDINARY RUSSIANS VALUE THE ROUBLE? The public still sees the US dollar as the benchmark, even though yuan use is rising Sanctions have made foreign travel and US dollar and euro international transfers harder, reducing demand for cash dollars WHAT LIES AHEAD FOR THE ROUBLE? A big test looms in early September, when a 50-day deadline set by US President Donald Trump for Russia to show progress toward peace in Ukraine expires If new US sanctions targeting buyers of Russian oil follow, the rouble could come under renewed pressure The last time the rouble weakened significantly was in November 2024, after Washington sanctioned Gazprombank, which had handled oil and gas payments
Newsweek
31-05-2025
- Business
- Newsweek
Russia's Economy Facing Triple Threat
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Russia's economy faces the triple threat of a banking crisis, companies forgoing dividend payouts and a sharp downturn in growth as the sanctions-hit country experiences continued turbulence due to President Vladimir Putin's full-scale invasion of Ukraine. The Kremlin-linked Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF) has warned of problems in the banking sector which include an increased likelihood of a run on banks, although it said a full-blown crisis has not happened yet. The CMASF has told Newsweek that a volatile stock market was one factor contributing to jitters. Newsweek has contacted Russia's Finance Ministry for comment. This stock image from January 11, 2025, shows notes of Russia's currency, the ruble. This stock image from January 11, 2025, shows notes of Russia's currency, the It Matters Russia's economy has so far weathered much of the western-led sanctions that were aimed at punishing Putin for his aggression and starving his war machine. However, relatively decent growth fueled by Putin's record military spending has been marred by inflation and a worker shortage impacted by those fleeing the draft and troop losses in Ukraine as experts warn of longer terms problems for the economy. What To Know The CMASF said in a report this week there is an increased likelihood of "a systemic banking crisis" in Russia. Such a crisis would involve at least one of three things; a run of the banks by depositors, non-performing loans exceeding 10 percent of total banking assets, or large-scale bank recapitalizations exceeding 2 percent of the country's GDP. None of those conditions have been met so far, but the risks are growing, it said. In emailed comments to Newsweek, the CMASF said a sharp increase in the volatility of the main index of the Russian stock market (MOEX) is a good indicator of greater economic uncertainty people feel. This week, Russia's stock market took a sharp dive following the threat by President Donald Trump of new sanctions and his jibe after Moscow's drone and missile barrage of Ukraine that Putin was "crazy." The CMASF also told Newsweek a sharp increase in the ratio of money supply to the monetary base reflects the increasing pressure on the liquidity of the Russian banking system. These factors taken together can increase vulnerability and the likelihood of banks experiencing "cash gaps". Fight and Flight In April, the CMASF warned there was an increased possibility of "depositor flight" or a run on the banks. This was caused in part by the prospect of an economic downturn due to Russia's Central Bank setting a key interest rate of 21 percent to curb inflation of 10.2 percent amid warnings this will stifle lending and investment. Russian Firms Forego Dividends It comes as the boards of two dozen Russian companies advised against paying out dividends to shareholders due to declining export revenues and sanctions. State statistics agency Rosstat said that in 2024, Russian companies generated total earnings of 30.4 trillion rubles ($381.1 billion) down 6.9 percent compared with 2023, or a 15 percent drop when adjusted for inflation. Firms in mining and energy are among those foregoing dividend payments. such as Gazprom, Norilsk Nickel, NLMK and Severstal, but other could follow suit, the Vedomosti business daily reported. The outlet reported that the suspension of dividends is linked not only to worse market conditions but also to the high cost of borrowing. Boris Grozovski, an expert on Russia's economy at the Wilson Center think tank, told Newsweek in January that the high key interest rate had put Russian companies in a very difficult position. Rising costs, higher energy tariffs, higher gasoline costs, higher wages, higher transportation and logistics costs, meant that net profits are decreasing, he added. Growth Slump As corporate borrowers are struggling to service their debt and more households accumulate bad loans, Rosstat said last week that growth in the first quarter of 2025 was only 1.4 percent. This is three times less than 4.5 percent in the final quarter of 2024 and almost four times less than 5.4 percent for the same period last year. The Russian economy faces not just a slowdown, but a likely recession, independent outlet The Bell reported, adding that latest official data suggests the economy could dip into negative growth as early as this summer. What People Are Saying Center for Macroeconomic Analysis and Short-Term Forecasting: "The current situation is characterized by the 'resonance' of several negative signals and trends indicating an increase in macro-financial risks." What Happens Next Although GDP growth has slowed, much depends on whether there is a peace deal in Ukraine which could see Trump restore trade between the U.S. and Russia. Kyiv and its allies want Washington to maintain economic pressure on Russia and U.S. lawmakers are drawing up a new list of possible sanctions, adding to anticipation on whether this could force Putin to the negotiating table.
