Category: Bank of Russia

Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’

While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic…

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position…

Vladimir Putin Says West’s Attempt to ‘Crush the Russian Economy’ Did Not Succeed

Last week the Russian ruble hit a seven-year high against the U.S. dollar and while analysts have downplayed the rise, one economist said people should not “ignore the exchange rate.”…

Kalashnikov Eyes Digital Ruble Settlements as Russia Aims to Replace ‘Dirty Money’

Kalashnikov Group, the Russian firearms manufacturer, is ready to transition to settlements in digital currency. The announcement came from the international economic forum in Saint Petersburg where the central bank…