Russia's budget deficit widens to $34.4 bln after late spending spree
Russia recorded a budget deficit of more than 3 trillion roubles for the third year running in 2024, the finance ministry said on Monday, with both spending and revenue rising sharply compared with 2023 as Moscow ploughed economic resources into the war in Ukraine.
Trump treasury pick Scott Bessent calls for stronger Russia sanctions, Fed independence at confirmation panel
Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.
Trump Treasury pick Bessent backs Fed independence, dollar, sanctions on Russian oil
President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent, and that he is ready to impose tougher sanctions on Russia's oil sector.
What Trump's presidency could mean for Russia's rouble
With Donald Trump's pledge to quickly end the war between Ukraine and Russia, market players are starting to look at what impact that could have on the rouble, which became an outcast following sanctions.
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Russia is on pace to run out of financial reserves by this fall, which would cripple war efforts, economist says
Russia could run out of liquid reserves as soon as this fall, one European economist has said. The nation's liquid reserves have dwindled to $31 billion, down from $117 billion in 2021. Limited ...
Trump's treasury secretary pick says more Russia sanctions possible
US President-elect Donald Trump's pick for treasury secretary, Scott Bessent, took part in a confirmation hearing with lawmakers on Thursday. He said additional sanctions on Russia could be imposed to help end the war in Ukraine.
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Russia's federal budget won't fund anti-drone systems at civilian airports, media reports
Russia will not allocate federal funds to equip civilian airports with anti-drone systems as initially expected, pro-Kremlin publication Vedomosti reported on Jan. 12, citing two undisclosed sources.
Trump Treasury pick Bessent backs US Fed independence, dollar, sanctions on Russian oil
Mr Scott Bessent is a hedge fund manager and founder of Key Square Capital Management. Read more at straitstimes.com.
US Treasury nominee backs Fed independence, dollar, Russia sanctions
U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's
National Politics
Biden’s use of the word “oligarchy” was no accident — it’s a direct reference to the form of government in Russia, whose leader Trump has long spoken warmly about.
IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook
The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year.
World economy steady, IMF says
The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump's promises to cut U.