Russian businesses’ and the wealthiest citizens’ funds continue to flow into offshore zones through the sale of company shares and the issuance of loans, Russia’s Central Bank reported.

In the last year, $42 billion (2.5 trillion rubles) flowed out of Russia into offshore accounts. This was 15% more than the federal budget spent to support the national economy, and twice as much as the amount allocated to education and healthcare combined. Cyprus remains the “magnet” attracting Russian money, …

Russian grain traders once again have problems supplying the primary export market. Egypt, which accounts for roughly one quarter of all Russia’s wheat exports, has rejected a large 63 ton batch, finanz.ru reports.

The grain was transported by ship for Egypt’s state GASC (General Authority For Supply Commodities), but Egypt’s Ministry of Agriculture refused to accept it, having detected an above-normal concentration of ergot – a fungal parasite which is toxic to humans.

Whereas the …

Russian President Vladimir Putin will decide very soon on the structure of the Presidential administration. The changes will also affect the foreign policy direction, the Russian newspaper Kommersant reported.

The Russian representative in the Trilateral Contact Group negotiating Donbas settlement, Boris Gryzlov, may take a post of the presidential envoy in the Central Federal District of Russia, although this has not yet officially confirmed. On Mary 30, Gruzlov took part in the regular …

The National Bank of Ukraine (NBU) warned that it may tighten monetary policy and impose currency restrictions if the International Monetary Fund does not release a fifth tranche to Ukraine.

"We have been talking through the possible scenarios in the case there is no tranche. If inflationary pressures increase, it will strengthen our monetary tools to contain inflation. We will impose certain restrictions on potential capital outflows," NBU Governor Yakiv Smoliy told journalists on Thursday. …

The Chelsea Soccer Club, owned by Russian oligarch Abramovich, halted indefinitely the construction of its new Stamford Bridge Stadium in London. The official reason was an "unfavorable investment climate" but the club announced the extension of project's terms after Abramovich failed to get a UK visa.

The stadium worth 500 million pounds was to be commissioned in 2022. It was to be built on the site of the old stadium, which was scheduled for demolition. The new stadium would have an …

The Russian Federation requested the North Atlantic Alliance to put pressure on Ukraine following the country’s changes to provisions of the law “on education”, Evropeyska Pravda reports with reference to a source in the NATO headquarters who commented on a meeting of the NATO-Russia council which took place in Brussels in May.  

Russia claims that one of the members of NATO, namely Hungary, is not satisfied with the Ukrainian law. Budapest has blocked ministerial meetings of the Ukraine-NATO …

Apple has stopped support of Telegram messenger after Russia blocked the service, and has limited updates of the application for all users, reported Telegram’s founder, Pavel Durov.

 “Apple has been preventing Telegram from updating its iOS apps globally ever since the Russian authorities ordered Apple to remove Telegram from the App Store. Russia banned Telegram on its territory in April because we refused to provide decryption keys for all our users’ communications to Russia’s security …

In response to a question from the Ukrainski Novyny news ageny, Ukrainian Finance Minister Oleksandr Danylyuk said he does not think it was a mistake to send a letter to the ambassadors of the Group of Seven countries complaining about the pressure from Prime Minister Volodymyr Groysman and President Petro Poroshenko.

“I had exhausted the opportunities for normal dialog. I am a decisive person, but also tolerant. We always look for ways to carry out what we have planned. Regarding the State …