The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.
France suspended indefinitely on Tuesday delivery of the first of two Mistral helicopter carrier warships to Russia, citing conflict in eastern Ukraine where the West accuses Moscow of fomenting separatism.
Leaders from the G20 group of nations agreed on Sunday to boost flagging global growth, tackle climate change and crack down on tax avoidance but ties between the West and Russia plummeted to a new low over the crisis in Ukraine.
Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.
The official emblem of the 2018 FIFA World Cup in Russia has been unveiled by the cosmonauts at the International Space Station. The logo was then projected onto the iconic Bolshoi Theater building in the heart of Russian capital, Moscow.
Argentina's state-run energy company YPF admitted on Wednesday having held promising meetings with Russia's Gazpron to consider different collaboration and business opportunities, “but so far has not signed any Memorandum of Understanding, MOU or agreement”.
Uruguay's president Jose Mujica said the latest world events show that Europe 'has lost clout' in global affairs, and has lost strength as 'peace mediator', and this role could be “much better performed by Latin America”.
The European Commission opened Private Storage Aid for butter, Skimmed Milk Powder (SMP) and certain cheeses in order to alleviate the impact of Russian restrictions on imports of EU dairy products and to limit the negative effects on the internal market.
Finland-based Arctech Helsinki Shipyard has been contracted to build three icebreaking stand-by vessels for Russian shipping company Sovcomflot, for a total cost of 380 million dollars.
Russia will ban all imports of US food products as well as fruit and vegetables from the European Union after President Vladimir Putin ordered retaliation for Western sanctions against Moscow, a state news agency reported today.