Contents tagged with Kremlin

  • China praises Russia’s decision to convert its U.S. dollar holdings to yuan

    The Chinese authorities welcome the increase in the yuan's share in the Russian National Welfare Fund (NWF), said at a briefing Chinese Foreign Ministry spokesman Wang Wenbin.

    "We welcome a significant increase in the share of renminbi (the official name of the Chinese currency) in the holdings of the Russian National Welfare Fund. This demonstrates Russia's confidence in China's economic growth and prospects for China-Russia cooperation," he said.

    "We will continue to deepen mutually …

  • Kremlin pushes Russian banks towards imminent isolation from world’s financial system

    The Russian government introduced a bill to the State Duma that would prohibit Russian banks from providing banking information to financial authorities abroad.

    According to the document, banks will be forbidden to send information about customers and their transactions to the financial authorities of "unfriendly countries".

    These measures are intended as a response to the actions of the United States and other countries. Their goal is to minimize the risks associated with the changes in …

  • Number of Russians wishing to emigrate reaches highest level in 8 years

    Emigrant sentiment continues to intensify in Russia as the standard of living declines, the post-Crimean syndrome fades away, and the authorities instead of a brighter future offer the society repressions and a course to "resuscitate" the corpse of the USSR.

    As of May 2021, 22% of Russian citizens said they would like to go abroad for permanent residence, showed a survey conducted by Levada Center.

    In four years, the proportion of those wishing to emigrate has increased by 7 percentage points, …

  • Kremlin retracts statement on plans to remove U.S. dollar from circulation in Russia

    The Russian Finance Ministry has retracted its statement on plans to transfer all of its foreign currency reserves from dollars to euros.

    The RIA Novosti report, quoting Dmitry Timofeev, director of the Department of External Restrictive Measures Control of the Finance Ministry, was retracted by the Ministry.

    The original article stated that the Russian authorities want to make Russia a "euroized country" replacing the dollar with the euro.

    According to the publication, the Kremlin planned …

  • Russia decides to dump dollar reserves amid fear of new U.S. sanctions

    The Russian Ministry of Finance has decided to radically change the structure of the National Wealth Fund (NWF), the head of the ministry Anton Siluanov said at the St. Petersburg International Economic Forum.

    According to him, the fund will completely get rid of investments in U.S. dollars, reduce investments in the British pound, replacing them with the euro, Chinese yuan and gold.

    These financial operations will be carried out by the Russian Central Bank as soon as possible. It will be " …

  • Russia admits its critical dependence on imports of strategic and rare earth metals

    Russia imports more than a third of strategic metals and more than 60% of rare earth metals, with almost 100 percent dependency on imports of some of them, said the Russian parliamentary body of financial control, the Accounts Chamber, in the report “On the Effectiveness of Management of the State Sub-soil Resources Fund in 2018-2020”.

    According to the Russian Accounts Chamber, foreign supplies represent 100% of the economy's needs in titanium, chromium, manganese and lithium, as well as more …

  • Kremlin threatens to slow down access to YouTube

    Foreign Internet platforms continue to allow posting banned content in Russia. This includes Facebook and YouTube, said Russian media watchdog, Roskomnadzor.

    Roskomnadzor warned that these internet platforms would face sanctions similar to those applied to Twitter, namely partial slowdown of user access using equipment installed by internet providers under the "sovereign Internet" law.

    As for Twitter, it will not be blocked, despite the fact that the deadline for removing ”illegal content”, …

  • Kremlin dissociates itself from Kadyrov's words about ‘disorder’ in Jerusalem

    The statement of the head of the Chechen Republic Ramzan Kadyrov that the Israeli authorities should apologize to the Arab population for the situation in East Jerusalem does not reflect the official position of Russia, said the press secretary of the Russian President, Dmitry Peskov.

    "You know that the foreign policy position of the Russian Federation is formulated by the President," Peskov said.

    According to him, Kadyrov's statement cannot be considered an official position of Moscow.

    "We …

  • Kremlin vows to quickly find a replacement for SWIFT

    Russia will quickly find a replacement for the SWIFT payment system if it is needed, said Russian presidential spokesman Dmitry Peskov.

    According to him, if SWIFT “turns to be unreliable”, an alternative to the international system of interbank payments will appear immediately.

    "We live in such a developed world that alternatives, or by-pass substitutes for this system will be found very quickly. It is impossible to limit Russia in anything," Peskov said on the program "Big Game" on the …

  • Russia expels 10 U.S. diplomats

    The Russian Foreign Ministry reported that it handed a note to the Deputy Chief of the U.S Diplomatic Mission, Bart Gorman, declaring persona non grata 10 employees of the U.S. diplomatic mission, whose expulsion was announced last week.

    "On April 21, Bart Gorman, deputy head of the U.S. diplomatic mission in the Russian Federation, was summoned to the Russian Foreign Ministry, and was presented with a note declaring 10 employees of the U.S. Embassy in Moscow persona non grata. These persons …