Author: Steven Sahiounie

The Bank of Russia raised the key rate for the first time since December 2023 – from 16% to 18% per annum, and will consider the further raising it at its next meetings

Nominal amount of OFZ owned by non-residents as of the beginning of July 2024 totaled 1.393 trillion rubles (16 bln) with the total volume of the market at 20.68 trillion rubles ($236 bln), according to the regulator

On July 26, the Board of Directors of the Bank of Russia decided to raise the key interest rate for the first time since December 2023 from 16% to 18% per annum

The export duty rate for wheat is calculated on the basis of an indicative price of $220.5 per ton, for barley – $177.9 per ton, for corn – $187.4 per ton

Lukoil is represented in China by Lukoil Lubricants China, which is responsible for the lubricants business in the country

Maxim Reshetnikov noted that the Bank of Russia’s forecast for inflation in 2024 “is within our [the Ministry of Economic Development’s] range of current estimates”

Steven Sahiounie, journalist and political commentator Once again, China steps on to the global diplomatic stage, in the absence of US involvement, and brokered a ground-breaking agreement between rival factions in Palestine. Following the March 2023 reconciliation between Middle East powerhouse Saudi Arabia and Iran signed in China, now we have the “Beijing Declaration” between Hamas and Fatah signed on July 23. The agreement calls for a national unity government to govern Gaza jointly after the end of the current conflict which began on October 7, 2023 after Hamas attacked Israel, which resulted in the deaths of 1,197 people. Hamas…

The European Union’s High Representative Josep Borrell today renewed his call for an immediate ceasefire and guaranteeing humanitarian access in the war-torn Gaza Strip. “We call for an immediate ceasefire,” he said as he participated in the EU-ASEAN Post-Ministerial Conference in Vientiane in Laos. “Several ASEAN members expressed strong condemnation on what is happening in Gaza. As I repeatedly said: a horror doesn’t justify another,” he added. He stressed the need “to work together with ASEAN countries to support a political 2-state solution for lasting and sustainable peace.” He also stressed that “the EU is the main supporter of the Palestinian Authority.”…

Israel should stop building settlements on the occupied Palestinian land, as the situation in the West Bank is on the verge of a large-scale explosion, Russian Permanent Representative to the UN Vasily Nebenzya said. “We call on the Israeli authorities to abide by international humanitarian law and shoulder full responsibility for the population under occupation. First of all, we talk about commitments to provide food supply, medical care, public order and security,” he said during a UN Security Council meeting on the humanitarian situation in Gaza. “It is also necessary to stop the construction of settlements in the occupied Palestinian…

Italian Foreign Minister Antonio Tajani announced on Friday that Italy will appoint an ambassador to Syria, becoming the first G7 nation to reestablish a diplomatic mission in Damascus. The top diplomat said that his Ministry has done so to “turn a spotlight” on the country amid an ongoing crisis that has driven thousands of Syrians away. Tajani further told Reuters that Stefano Ravagnan, the current special envoy for Syria in the foreign ministry, has been appointed as ambassador and will assume his new position shortly. This comes against the backdrop of a recent letter sent to EU Foreign Policy chief Josep Borrell,…