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COUNTRY INSIGHTS

Russia increases key rate
RUSSIA / FSU POLITICS · In Brief · 20 Mar 2021

On March 19 the Central Bank of Russia raised the key rate for the first time since 2018. Rising inflation and food prices obliged the CBR to change its monetary policy. The benchmark was gone up from 4.25% to 4.5%.

Lukashenka names two possible successors
RUSSIA / FSU POLITICS · In Brief · 19 Mar 2021

On March 19 Lukashenka for the first time ever publicly discussed two potential replacement for him as a president. He named the ex health minister Uladzimer Karanik and the ex Interior Minister Yury Karayev. Both are under US sanctions.Why does Lukashenka think either of these men might be worth...

Armenian PM calls early election
RUSSIA / FSU POLITICS · In Brief · 19 Mar 2021

On March 18 Nikol Pashinyan bowed to the opposition's demands for an election this year. The elections will be held in June 2021. President Sarkisian has agreed to allow early elections. Pashinyan tried to fire military chiefs who publicly castigated him after he said that some of the army's Russ...

Russia withdraws ambassador from the US
RUSSIA / FSU POLITICS · In Brief · 18 Mar 2021

On March 17 Russia recalled its ambassador from the United States. This was in protest at Biden's saying that Putin is a killer. Biden also said that Russia would ''pay a price'' for interfering in the US election and trying to help Trump win. US intelligence published a report concluding that Ru...

Russia imposes app on Apple and threatens to block Twitter
RUSSIA / FSU POLITICS · In Brief · 17 Mar 2021

As of April 1 Apple will pre-install this technology on its phones in Russia. The software was invented in Russia and allows users to send messages, access the internet, send emails, order food and taxis as well as being an anti-virus.Buyers will see a dialogue box urging them to install governme...

Ukraine to nationalize Motor Sich
RUSSIA / FSU POLITICS · In Brief · 15 Mar 2021

On March 11 it was announced that Kyiv wants to buy the aerospace company. At the moment Chinese companies own most of the shares. Ukraine considers the company vital to national defense. The chief of the Security and Defense Council said that Motor Sich needs to be taken back by Ukraine. Shareho...

Russian and China plan joint moon station
RUSSIA / FSU POLITICS · In Brief · 13 Mar 2021

On March 10 Beijing and Moscow announced that they will create a lunar space station together. Russia is exceptionally proud of the Soviet-era space prowess. However, Russian space exploration has fallen behind in recent decades. Putin also sees cooperation with China is vital to containing the W...

Russian weapons sales booming
RUSSIA / FSU POLITICS · In Brief · 13 Mar 2021

On March 12 Moscow announced that its arms exports are selling well. The Federal Service for Military Technical Cooperation said that in 2020 the country sold USD 50-55 billion of arms.Sales in 2020 were 15% down YoY. This sector was impacted less by the pandemic than any other.

Russian food exports broke records in 2020
RUSSIA / FSU POLITICS · In Brief · 12 Mar 2021

On March 9 RBC published an Agriculture Ministry report on this. It showed that the country exported USD 30.7 billion of comestibles. That is 20% up YoY. That was 79 million tons. The major foodstuffs exported are grain, meat, fish, vegetables and dairy products. In 2020 there was a bumper harves...

Russian nickel company pays USD 2 billion in compensation
RUSSIA / FSU POLITICS · In Brief · 12 Mar 2021

On March 10 Nornickel paid its fine for causing an environmental cataclysm. The accident in April 2020 impacted the Norilsk Region. The funds were paid to the Federal budget. Norilsk will receive less than 1% of the monies. Environmentalists lambasted the Kremlin for paying only a derisory fracti...

Russian corporations were profitable in 2020
RUSSIA / FSU POLITICS · In Brief · 11 Mar 2021

Financial data from 2020 was published by Rosstat on March 9 proving that almost every major Russian coporation made a profit. The government's fateful decision to eschew a second lockdown paid dividends economically. However, the price for that has been 400,000 excess deaths. Corporate profits w...

Russia slows Twitter due to content dispute
RUSSIA / FSU POLITICS · In Brief · 10 Mar 2021

On March 9 Twitter feeds were slowed down. The government is angry that Twitter has not been removing prohibited content. The Russian Communications Authority announced that it had taken this action. Twitter has been slowed on all cellphones and 50% of computers.Twitter has been fined in relation...

Russian food prices rising
RUSSIA / FSU POLITICS · In Brief · 09 Mar 2021

On March 8 the Russian Statistics Agency published data showing that comestible prices are seeing inflation-busting increases. In February 2021 consumer prices went up 5.7% YoY. The food price rise was 7.7% YoY. Food prices have been rising worldwide. In Russia in 2020 food prices went up 6.7%. F...

Russia and EU spar over Sputnik V
RUSSIA / FSU POLITICS · In Brief · 09 Mar 2021

The European Medicines Agency is considering approving the Russian coronavirus vaccine. An EMA official dismissed taking Sputnik V as ''playing Russian roulette''. Russia is mortally offended and demanded that this person apologize. Moscow says the remarks show political interference in the EMA's...

Cost of flights in Russia rises dramatically
RUSSIA / FSU POLITICS · In Brief · 07 Mar 2021

On March 3 Kommersant reported the hike in air fares. Russia is open to tourists from certain countries. The average price for a flight from Russia to a domestic destination was USD 212 in March 2021. That is 40% higher than what it was just before coronavirus.Tickets to Dubai are 100% higher YoY...

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