Page 15 - Russia

Russia to invest $69 mn in quantum communication network in 2023-24: Report

The roadmap includes more than 120 projects, such as tools to promote quantum communications for potential users, development of sales markets, commercialisation of services

Russia fires 70 missiles in one of its biggest blitz on Ukraine: Report

Either we'll win the war or world would be destroyed: Putin's key aide

Russian economy to contract by 3% this year, says central bank head

The head of Russia's Central Bank said on Friday that the country's economy will contract by about 3 per cent this year, a sharp turnaround from its growth in 2021, the year before sanctions and company pullouts in the wake of the conflict in Ukraine. Central Bank governor Elvira Nabiullina said following a bank board meeting that inflationary pressure remains elevated, citing worsening trade conditions as one factor. She said annualised inflation as of December was 12.7 per cent. Russia's gross domestic product rose by about 4.8 per cent last year. A wide array of foreign companies pulled out of Russia or scaled down their activities in the country after Russia sent troops into Ukraine in late February. The European Union imposed a price cap this month on Russian oil, one of the country's key exports. Nabiullina said the effect of the price cap would be analyzed more thoroughly at the bank's February meeting.

India to remain top buyer of Russia's Urals crude in Dec, says report

India is taking most of Russia's Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data

New European Union sanctions target Russian military-industrial complex

The European Union said Friday its latest round of sanctions will hit Russia's military-industrial complex, as well as people and groups that are attacking Ukrainian civilians or kidnapping children. Valdis Dombrovskis, a European Commission vice-president, said the package will deal a blow to 168 entities companies or state organizations as well as some two dozen individuals. The ninth package of EU punitive measures against Russia for its war in Ukraine was approved by EU leaders at a summit Thursday. It was formally adopted Friday by written procedure. European Commission Ursula von der Leyen said the package also focuses on tech, finance and media to push the Russian economy and war machine further off the rails." Von der Leyen added that the new sanctions target almost 200 individuals and entities involved in attacks on civilians and kidnapping children." Russia's open effort to adopt Ukrainian children and bring them up as Russian is already well underway, in one of the mos

Russians face major hurdles for return to Olympic track amid Ukraine war

The International Olympic Committee's complex discussion about allowing Russian athletes to participate at the Paris Games in 2024 if their country is still at war provided no short-term help in improving the athletes' standing among leaders in track and field, the biggest sport on the Olympic programme. In a year-end interview this week, World Athletics president Sebastian Coe suggested the Russian war in Ukraine, to say nothing of the still-active doping sanctions against Russia that have been in place since 2015, have led to a more difficult path for Russian track athletes to reach the IOC goal of participating as neutrals either at next year's world championships or at the Olympics the year after that. Coe sketched out a two-part process for Russian reinstatement. First, the doping sanctions would have to be lifted at a World Athletics council meeting in March, a prospect that seems more likely after a series of positive reports from a task force that monitors Russia's compliance

US imposes new penalties on entities involved in Russia's financial sector

The United States on Thursday imposed a new round of financial penalties on people and entities involved in Russia's financial sector, with the targets including one of that country's richest men, Vladimir Potanin, his family and a commercial bank he acquired this year. The Treasury Department's Office of Foreign Assets Control also imposed sanctions on more than 40 people linked to the Russian financial sector and 17 subsidiaries of VTB Bank Public Joint Stock Company also known as VTB Bank Russia's second largest bank. VTB Bank was designated for sanctions in February. The State Department issued separate diplomatic designations on the people and companies. Western nations and other allies have imposed a range of penalties meant to crush Russia's finances due to Russian President Vladimir Putin's invasion of Ukraine. Russia's Central Bank faces restrictions that target access to the more than $600 billion in reserves that the Kremlin has at its disposal. Allied countries have .

European Union approves new sanctions against Russia over war in Ukraine

The European Union said it approved a new package of sanctions Thursday aimed at ramping up pressure on Russia for its war in Ukraine. The package, whose details have not been revealed, was approved after days of deliberations during a meeting of the 27-nation bloc's ambassadors. The Czech Republic, which holds the rotating presidency of the EU Council, said the package will be confirmed by written procedure on Friday. Details will then be published in the bloc's legal records. The European Commission, the EU's executive branch, last week proposed travel bans and asset freezes on almost 200 more Russian officials and military officers as part of the new round of measures. The targets of the latest recommended sanctions included government ministers, lawmakers, regional governors and political parties. In addition to sanctions on various entities, banks and individuals, including Russian President Vladimir Putin and members of his family, the EU previously approved an embargo on co

Russia-Ukraine war: Moscow warns 'consequences' if US sends missiles

Russia's Foreign Ministry warned Thursday that if the United States confirms reports that it plans to deliver sophisticated air defense missiles to Ukraine, it would be another provocative move by the U.S. that could prompt a response from Moscow. Ministry spokesperson Maria Zakharova said in a weekly briefing Thursday that the U.S. has effectively become a party to the war in Ukraine, following reports that it will provide Kyiv with Patriot surface-to-air missiles, the most advanced the West has yet provided to help Ukraine's military repel Russian aerial attacks. Zakharova added that growing amounts of U.S. military assistance, including the transfer of such sophisticated weapons, "would mean even broader involvement of military personnel in the hostilities and could entail possible consequences. She did not specify what the consequences might be. U.S. officials said Tuesday that Washington was poised to approve sending a Patriot missile battery to Ukraine, finally agreeing to an

US charges 7 Russian nationals with military tech plot on govt orders

The US has charged five Russian nationals, including a suspected Federal Security Service (FSB) officer for allegedly conspiring to obtain military-grade and dual-use technologies from US companies

Centre looks to close Chabahar port negotiations by end of FY23

With the international framework broadly agreed on, talks pick up the pace

Putin will not hold annual year-end press conference, says Kremlin

During the media gathering - a major political event in the country - Putin takes questions from the press and the public in a marathon that usually lasts several hours

Added value to Council: Russia backs India's permanent membership at UNSC

Russian Foreign Minister Sergei Lavrov has once again backed India for permanent membership at the United Nations Security Council (UNSC) stating that New Delhi has added value to the Council with its stance on global and regional issues."I think that India is currently one of the leading countries in terms of economic growth, maybe even the leader. Its population will soon be bigger than that of any other country. New Delhi has vast diplomatic experience in settling various kinds of problems, as well as authority and a reputation in its region," Lavrov said.Lavrov made these remarks while responding to media queries on at the Primakov Readings International Forum in Moscow on December 7.India plays an active role in the United Nations as well as a range of integration structures in South Asia within the Shangai Cooperation Organization (SCO), he said."India is part of a range of integration structures in South Asia within SCO & it takes an active role in United Nations. India ..

Trade settlement with Russia in rupees to start next week: Report

Five to six banks have been allowed to open Vostro accounts for rupee trade settlement and 10-11 such accounts have been opened so far

Methane from Nord Stream leakages may threaten ecosystem: Research

Research has shown that "a significant part of the methane gas that leaked from the pipelines on the bottom of the Baltic Sea did not rise into the atmosphere

Govt asks trade bodies, banks to explore more countries for trade in rupee

Having facilitated rupee trade with Russia, Mauritius and Sri Lanka, the government has asked trade bodies and banks to explore such opportunities with more nations, sources said. Indian banks have already opened special rupee vostro accounts (SRVA) with banks of these three nations, operationalising the rupee trade arrangement. Recently, SBI Mauritius Ltd and People's Bank of Sri Lanka opened an SRVA with State Bank of India (SBI). In addition, Bank of Ceylon opened an account in its Indian subsidiary in Chennai. Union Bank of India has opened special rupee account of Ros Bank Russia while Chennai-based Indian Bank has opened such accounts of three Sri Lankan banks, including Colombo-based NDB Bank and Seylan Bank. In all 18 such special rupee accounts have been opened by 11 banks, including 2 of Russia and one of Sri Lanka, following approval from the Reserve Bank of India (RBI). The RBI issued detailed guidelines on cross-border trade transactions in the domestic currency in ...

Russia offers to help India overcome western price cap on crude: Reports

Russia is said to have offered to help India overcome the oil price cap, which has been imposed by Western nations on the world's largest country

Russia welcomes India's decision to not support G7's price cap on its oil

Russia has said that it welcomes India's decision to not support the price cap on Russian oil announced by the G7 and their allies

Brittney Griner returns to US after prisoner exchange with Russia

'The US welcomes the release of Brittney Griner from detention in Russia'

Chances high for Putin's participation in G20 Summit in India: Official

'I hope that, of course, [Russia's president] will go [to the G20 Summit]. But this, in any case, is up to him to decide'