Author: Steven Sahiounie

The Turkish lira fell against the dollar to a new record high of 19.93 pounds per dollar, with the approaching date of the Turkish presidential re-election round. The Turkish currency lost 44% of its value in 2021, and 30% in 2022. The run-off of the Turkish presidential elections is scheduled to take place next Sunday, May 28, when President Recep Tayyip Erdogan will compete against opposition candidate Kemal Kılıçdaroğlu. The economic situation, inflation and high prices in Turkey are among the main factors that will determine the direction of voters. This article was originally published by RT.

Expert Andrei Krasnov said that the share of domestic information security solutions in Russia reached between 30 and 35% by the end of 2022, and by the end of this year it will exceed 50%. “For almost 15 years, the state, with the help of organizational means, has encouraged the process of formulating and developing local solutions in the field of information security. According to our estimates, about 80-90% can be dispensed with imports. “In the categories of information security solutions without any problems or troubles. These products are available to us. But at the same time, according to the…

Oil prices fell today, Monday, as investors focused on concerns about the possibility of the United States defaulting on its obligations.  By 10:05 Moscow time, US West Texas Intermediate crude futures fell 1.22% to $70.68 a barrel. While Brent crude futures fell by 1.01% to $74.82 a barrel, according to Bloomberg agency data. Earlier, the US President said that “things went well” during a phone call with House Speaker Kevin McCarthy on the “debt ceiling” negotiations. For her part, US Treasury Secretary Janet Yellen confirmed that the United States will not hold out until mid-June if the government does not…

The United States described banning the products of major American chip companies, Micron, in China as a “baseless” measure, according to Reuters, quoting a US Commerce Department official. This came after the Cyberspace Administration of China announced that products manufactured by Micron, the memory chip maker, did not pass its network security audit, and that Micron products pose “serious network security risks” that threaten China’s information infrastructure and affect national security. . On Sunday, the Chinese government told users of sensitive computer equipment to stop buying Micron products. “We strongly oppose restrictions that have no basis in fact,” said a…

Russian businessman Oleg Deripaska revealed his expectations for the possibility of Washington defaulting on its financial obligations, with the approaching “inevitable date” for default on the first of next June. In the opinion of the Russian businessman, a change in the credit rating of US debt is inevitable and will lead either to a default by the US Treasury or to a serious depreciation of the dollar. Deripaska said in a post on his channel on the “Telegram” application today, Monday: “Adjusting the credit rating of the debt of the United States is inevitable, like the advent of winter after…

Shipments from the Middle East and Africa reportedly drop to their lowest level in 22 years India imported record volumes of Russian oil in April, while reducing the share of crude from the Middle East and Africa to their lowest levels in more than two decades, Reuters reported citing trading sources. Exports of Russian petroleum to India surged by 4.4% on a monthly basis to 1.9 million barrels per day (bpd) in April compared to 928,400 bpd imported by New Delhi from Iraq and 723,800 bpd delivered from Saudi Arabia, the figures showed. Asia’s third biggest economy, which is also the…

Overall trade with the sanctioned country has decreased, official statistics indicate Japan’s imports of Russian grain jumped by 554.8% in April compared to the same period of last year, according to data released last week by Tokyo’s Finance Ministry. Domestic demand for wheat alone in Japan amounts to some 5.6 million tons annually, with 90% of the produce being imported, according to the ministry. Despite the increase, Tokyo’s overall imports from Russia fell by 61.9% year-on-year in April. Japan, a member of the G7, has supported sanctions against its neighbor over the conflict in Ukraine, in lockstep with its Western…

Volumes of trade between Russia and China have continued to grow, jumping by 24.5% in the first quarter in annual terms to $52 billion, according to the Russian government. “Over the past two years, bilateral trade has increased by a third annually and in 2022 reached a new record of $185 billion,” says a brief prepared by the Cabinet for a visit to China by Russia’s Prime Minister Mikhail Mishustin. The PM’s official visit to China next week will see him meet with the country’s President Xi Jinping and its Premier Li Qiang. Official statistics show that despite Western sanctions on…

Russian oil production is expected to decline by 350,000 barrels per day (bpd) from February levels in a sign that Moscow is carrying out its plan for a voluntary cut, the Oilprice website reported last week, citing data from Kpler. According to the commodity tracking firm, Russian state energy companies are fulfilling the obligation, with crude output expected to reach 10.709 million bpd. In February, Russia pledged to voluntarily cut oil production by 500,000 bpd starting in March. The move followed a Western-imposed price ceiling of $60 a barrel, which Moscow views as a non-market mechanism and deems unacceptable. Russia…

The Syrian Minister of Oil and Mineral Resources, Firas Kaddour, revealed to “Sputnik” agency the discovery of new mineral resources in Syria, which research confirmed their existence. The Syrian minister pointed out that the ministry is working to make the mineral wealth sector more attractive to local and foreign investments. them in remote areas. He pointed out that there are “9 investment opportunities in the field of mineral wealth, which were put forward within the map of the Syrian Investment Authority, and are open to brotherly and allied countries such as Russia and Iran.” And he indicated that the US-Western…