Russia’s foreign currency reserves are being fast eroded as the government tries in vain to brake the Russian ruble decline under tumbling commodity prices. Look for Russia to follow the road to a still more authoritarian state.
Continue reading →The Russian equity flight, hit hard by declines in world energy and commodity prices and done no favors by the Kremlin’s invasion Georgia last month, is accelerating to a faster pace.
Continue reading →Moscow’s equity markets, whose benchmark measure has declined with increasing rapidity since the start of the year, reflect the fact that the invasion of Georgia has made the Russian downturn worse. The dollar-denominated RTS index is down 33 per cent … Continue reading →