Russia will consider lifting its grain export ban only after the next year’s harvest has been reaped, Russian Prime Minister Vladimir Putin has said.
Mr Putin did not say when exactly the ban, originally introduced from 15 August to 31 December, would be lifted.
Global wheat prices have risen by 1.4% on Thursday, after gaining more than 3% during the previous session.
Russia, one of the… more...
Russia crops have been devastated by the heatwave
Russia has imposed a ban on grain exports until the end of the year, after a severe drought and a spate of wildfires devastated crops.
Russia is one of the world’s biggest producers of… more...
Moscow is mobilising more forces to fight hundreds of wildfires raging across a vast area of central Russia amid a record heatwave.
At least 40 people have died in fires in the past week, and seven regions are under a state of emergency.
Some fires are in danger of getting out of control, the government said.
Officials say a naval aviation storage area outside Moscow burnt… more...
Smog still shrouds Moscow as peat fires burn outside the city
Russian President Dmitry Medvedev has declared a state of emergency in seven Russian regions because of wildfires fuelled by a heatwave.
The… more...
Russia’s economic growth accelerated in the three months to June, mainly due to rising consumer demand, according to its deputy economy minister.
Gross domestic product (GDP) grew by 5.4% compared with the same period a year ago, Andrei Klepach said.
The government has forecast the economy to expand by 4% this year.
But Mr Klepach said the fresh data meant Russia would “be reconsidering the [2010] forecast… more...
Long-term investment is
Russia will scrap capital gains tax on long-term direct investment from 2011, President Dmitry Medvedev has said.
Mr Medvedev said that in terms of improving Russia’s investment climate “we, I hope, are moving forward”.
He also said the number of “strategic”… more...
Ukraine’s President Viktor Yanukovych has told the BBC he will not let Russia’s state gas monopoly Gazprom take control of his country’s gas pipeline network.
He was reacting to an offer by Russian Prime Minister Vladimir Putin to merge Gazprom with Ukraine’s main energy firm Naftogaz. Ukraine’s network carries almost all of Russia’s gas exports to Europe.
Moscow’s surprise offer was another indication of how close relations between… more...
The fund-raising should help rebuild confidence in Russia
Russia has raised $5.5bn (4bn euros; £3.5bn) in its first international debt sale since it defaulted in 1998.
Initial reports said that demand for the Eurobond was five times over-subscribed despite investors’ growing caution about government fund-raising.
The Eurobond… more...
The Russian economy is expected to grow this year
Russia’s economy grew by 0.6% from January to March, slower than during the previous two quarters, according to the economic development ministry.
Minister Elvira Nabiullina said there were signs of revival, but “investment and consumer demand is not yet… more...