Browsing: Russia

Russia’s gold holdings hit a record $207.7 billion in October, with gold now making up 32.9% of international reserves, reflecting a shift in strategy by the Bank of Russia.

Sheikh Mohamed bin Zayed attended a special dinner in Moscow hosted by Vladimir Putin, further strengthening UAE-Russian relations during an official visit with high-level discussions.

Russia’s GDP grew by 4.2% in the first eight months of 2024, driven by expanding international trade and stronger economic partnerships with ‘friendly’ nations.

BRICS ministers have agreed to establish a unified scientometric database, enhancing research transparency and collaboration across Brazil, Russia, India, China, and South Africa.

Russia remains a major energy player despite global challenges, with over 90% of its energy exports going to friendly countries, Putin declared at the Russian Energy Week forum.

Russia’s Central Bank raised its key interest rate to 19%, citing persistent inflation driven by increased defense spending amid the ongoing war in Ukraine.

Russia’s trade surplus rose to $87.9 billion in the first seven months of 2024, a 20.2% increase from last year.

Russia’s gold reserves hit $188.8 billion by the end of August, a rise of 5.1% driven by global price increases. This marks the first time in 25 years that gold exceeds 30% of reserves.

Russia has increased its daily gold purchases by 700%, allocating 8.2 billion rubles per day from September 6 to October 4, according to the country’s Finance Ministry.

During the 22nd Annual Summit in Moscow, India and Russia set an ambitious $100 billion trade target for 2030.