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Indonesia, China implement local currency settlement framework

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Russia ranks among the top three yuan users in international payments: Forbes

August 20, 2022 Vinayak Barot

New Delhi: Russia took third place among countries using China’s yuan in international payments in July as its share in the global foreign exchange market soared 6.3-fold in just three months, Forbes magazine revealed, citing statistics provided by the SWIFT international payment system. Russia accounted for 3.9% of yuan transactions in July (up from 1.42 percent […]

EU Foreign Affairs Council on Russian aggression against Ukraine

Business

Austria rules out ruble payments for Russian Gas

May 6, 2022 Vinayak Barot

New Delhi: Austria has no plans to pay for Russian gas in rubles, The Austrian Foreign Affairs Minister Alexander Schallenberg told the media in an interview. “Our position is clear. We are committed to the already existing agreements with Russia and will not pay in rubles, we have no such intention,” Schallenberg said. In late March, Russian […]

English

Russian National Wealth Fund down by $6.8bn in February

March 24, 2022 Vinayak Barot

New Delhi: The Finance Ministry Russia Thursday said that Russia’s National Wealth Fund (NWF) decreased by 675.16 bln rubles ($6.8 bln) in February 2022 to around 12.9 trillion rubles ($131 bln) as of March 1, 2022. “As of March 1, 2022, the National Wealth Fund amounted to 12.935 trillion rubles or 9.7% of GDP projected for […]