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Russia loses $2 billion after converting its U.S. dollar holdings to yuan and gold
The de-dollarization of the Russian National Welfare Fund (NWF), announced with fanfare at the St. Petersburg International Economic Forum, immediately resulted in losses.
In June, the Russian Finance Ministry converted its dollar holdings into gold, euro and Chinese yuan and reported a reduction in the NWF’s liquid assets by 363 billion rubles ($4.85 billion), according to the data on the Ministry’s website.
Of the $39.8 billion or 20% of liquid assets that the Fund had at the beginning of …
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Putin approves new National Security Strategy preparing Russian economy for war
The economy of the Russian Federation, all its entities and municipalities must be prepared to provide protection against armed attack and meet the needs of the state and the population in wartime, reads the updated National Security Strategy of the Russian Federation, which was approved by President Vladimir Putin.
The document, which is prepared by the Security Council, is the cornerstone for all government decisions and serves as the basis for the formation of industry strategic doctrines. …
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Baltic countries to stop energy imports from Russia and Belarus
The Baltic countries are beginning to exit the electricity network with Russia and Belarus, which they have been using since the Soviet times.
According to Interfax, on Tuesday, Lithuanian electricity transmission system operator Litgrid AB announced a three-fold reduction in the electricity intake from Belarus.
From September 15, the maximum transmission capacity from Belarus to Lithuania will be reduced from the current 1,250 megawatts to 400 megawatts.
Lithuania has restricted electricity …
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Russia invites Lukashenko to visit Crimea
“Crimea is ready to welcome the President of Belarus Alexander Lukashenko”, said the head of Crimea, Sergey Aksyonov, on his VKontakte page.
"When our president and foreign ministry agree on the visit of the Belarusian leader, we will be happy to welcome Alexander Grigoryevich in Crimea," Aksyonov wrote.
Aksyonov called Belarus the "closest" and "brotherly" country. The head of annexed Crimea expressed confidence that Lukashenko, as well as all other Belarusian citizens, will feel at home in …
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France hopes Russia won't interfere in forthcoming presidential elections
The French leadership hopes that Russia will not interfere in the presidential elections in 2022 but Paris is under no illusions about the practices of hacking and information attacks that Russia uses against other countries, said in an interview with LB.ua Pierre Person, a member of the French National Assembly and one of the closest associates of President Emmanuel Macron.
"In 2017 and 2018, during a meeting with the Russian leadership, President Macron made it clear that such interference …