Ukrainian president Volodymyr Zelenskiy called for a summit with Russian President Vladimir Putin and to restart the four way talks under the Normandy Format during a trip to Paris to meet with his French counterpart President Emmanuel Macron
Russian industrial output posted 1.1% year-on-year growth in March 2021, according to RosStat statistics agency data, making the first y/y growth in a year.
But pandemic has delayed restart of convergence with Western Europe until 2023.
The US took a mild path for the time being with the new sanctions on Russia’s debt. Sanctioning the primary market activity of OFZs for US entities has little impact on Russia and international financial markets.
The Russian ruble has been through some wild swings this year as it has almost completely decoupled from the price of oil and is almost entirely dependent on the ebbs and flows of geopolitical tension.
The administration of US President Joe Biden on April 15 released details of long expected new sanctions against Russia, including a ban on US investors buying newly issued Russian ruble bonds that will infuriate the Kremlin.
Moscow is going out of its way to make it clear it wants to materially change the way the two countries work together.
For financial market investors, Russia is currently in the same basket as Turkey and Ukraine, but only on a temporary basis.
EM, Russia’s leading communications and investor relations consultancy for clients in Russia, China and other emerging markets, announced the appointment of former Moscow Exchange executive Anna Vasilenko as CEO.
US President Joe Biden and Russian President Vladimir Putin talked by phone for the first time in a tense conversation on April 13. Biden warned Russia to stand down troops on the Ukrainian border but offered a summit with Putin as well.
Perhaps the most important thing for the Russian leadership in this episode was to prevent the need to actually go to war against Ukraine in the future. Going for overkill in terms of military manoeuvres now prevents actual war later.
In 1Q21, ruble weakness was caused not just by political tensions, but also by a disappointing trade balance and resumed preference for foreign assets by residents. ING has downgraded its mid-year ruble expectations to USD/RUB75.
In late March Sber took control of a Russian video creation start-up called Movika.
A pool of individual investors has put RUB431mn into Beri Zaryad, a Moscow-based smartphone charging service.
Ukraine has announced that it will not hold further peace talks in Minsk within the framework of the Trilateral Contact Group.
Kremlin says move is response to Ankara’s worsening coronavirus difficulties but analysts see it as punishment for siding with Kyiv.
For the past couple of weeks, videos have flooded social media showing convoys of Russian military trucks, trains full of tanks, and hordes of helicopters heading toward Ukraine. The question everyone’s asking is: is Russia going to invade Ukraine?
Iran stands to be one of the winners of the new regional transportation map.
Russian equity markets saw a surprisingly modest outflow of $10mn from Russia dedicated funds on the week’s trading ending April 8 despite the arrival of the most Russian troops at the border with Ukraine since 2014.
Russia has the most troops on Ukraine's border than at any time since 2014 but what does Russian President Vladimir Putin actually hope to gain? Tim Ash, Senior Sovereign Strategist at BlueBay Asset Management runs through the possibilities