Economy
Thursday 1 March 2018
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![Russkaya Vesna]()
Russkaya Vesna
pro-Kremlin news site supporting the Russia-backed separatists in Ukaine
"US intelligence services have achieved the removal of Russian Tempbank from SWIFT [the international financial information exchange]."
Read more...While the U.S. government has placed sanctions on Tempbank over its dealings with Syria, Washington does not have the power to remove banks from SWIFT. -
Sergei Chemezov
head of state conglomerate Rostec
"An old acquaintance, a common past with the president definitely is not an indulgence."
Read more...Sergei Chemezov, a former KGB officer who served with President Vladimir Putin in East Germany, is among his close associates whose careers with high positions in government have greatly benefited by his friendship, usually while serving in the KGB. -
![Awara]()
Awara
Russian consulting firm
“Russia has emerged stronger than ever after these three years of economic defense. It has now achieved the unprecedented role of a quadruple superpower: industrial superpower, agricultural superpower, military superpower and geopolitical superpower. Russia now has the world’s most self-sufficient and diversified economy… .”
Read more...Russia remains heavily dependent on oil and gas, and is far from being an “industrial superpower,” let alone a “quadruple superpower.” -
![Sputnik]()
Sputnik
Russian government international broadcaster
“Nevada Declares State of Emergency Over Weed Shortage”
Read more...The Kremlin-funded international broadcaster Sputnik reported that the governor of Nevada declared a state of emergency over the state’s shortage of marijuana supplies. In fact, no state of emergency was ordered in Nevada. -
![Vladimir Putin]()
Vladimir Putin
President, Russia
“Moscow is among the world leaders in the use of digital technologies in modern urban infrastructure, ahead of such mega-cities like Toronto, Tokyo, Hong Kong, Barcelona and Sydney. By the way, in certain aspects of the index, Moscow is among the top three: digital services in the interactions between the state and the citizens – actually first place, simply first place in the world. The creation of infrastructure for the implementation of innovative solutions: according this criterion, Moscow takes second place in the world. The development of new business models based on the mass adoption of advanced technologies – third place; and an education system that meets the needs of the labor market of the future – also third place.”
Read more...Russia’s president praised Moscow for earning the top three positions among the world’s “data driven” mega-cities in an assessment made by the Moscow branch of the PricewaterhouseCoopers consulting company. The fact that PwC-Russia has an ongoing long-term contract with the Russian government raises questions about the independence and objectivity of this assessment. -
![Viktor Medvedchuk]()
Viktor Medvedchuk
head of pro-Russian political organization Ukrainian Choice
“Perhaps for the U.S. this is indeed a ‘golden era,’ but for Ukraine, where ‘reformers’ shut down coal mines en masse and destroy the coal sector, this is a period of decline and total dependence on Washington.”
Read more...The leader of the pro-Russian Ukrainian Choice organization claims Ukraine is falling into “total dependence” on the United States for coal imports. In fact, Russia remains the country’s top supplier. -
Vladimir Putin
Russian President
“Yes, they impacted [the economy]. To a large degree or not? I don’t think so. The economy was more affected by the global economy and the decline in prices of our tradition goods – oil, gas, metals and chemical industries and others.”
Read more...Putin's statement made during his annual national call-in program essentially contradicted remarks he made just months earlier. -
![Denis Manturov]()
Denis Manturov
Russian Industry Minister
“As the industry minister, I support a depreciation of the ruble.” Manturov claims an exchange rate of 62 rubles to the dollar is ‘optimal’ for all sectors of the Russian economy engaged in so-called ‘import substitution.’
Read more...A stronger ruble has tamed Russian inflation, bringing it to near record lows over the last 25 years. And contrary to what the minister states, think-tank research indicates exporters themselves would prefer a stronger ruble. -
![Aleksey Miller]()
Aleksey Miller
CEO, Gazprom
”When Gazprom’s consumers send us a request for gas offtake, they can be absolutely sure that they will receive that gas at the delivery point, right on time and in the amount agreed upon between the parties.”
Read more...Aleksey Miller, the CEO of Gazprom, Russia’s majority state-owned natural gas giant, said his company is one of the most reliable forces driving the global economy. However, European customers have taken Gazprom to court, and the European Union launched an antitrust case against it. Gazprom customers have characterized the company as an “economic blackmailer” and an “unreliable supplier.” -
![Sergei Shoigu]()
Sergei Shoigu
Russian Defense Minister
“With this level of funding we succeeded last year in not only increasing our Armed forces’ combat capability by 14%, but also ensuring strategic parity with the countries of NATO.”
Read more...While the exact numbers may be debatable, Shoigu is mostly correct that Russia spends much less than the United States on defense. His claim that Russia has reached 'strategic parity' with NATO is much shakier. Russia's military technology is largely behind the U.S.'s, but Russia has some advantages, including ability to quickly deploy forces in Eastern Europe. -
![Rostislav Ishchenko]()
Rostislav Ishchenko
RIA Novosti commentator, screen shot from Russia's 1st Channel
The United States has fought and will fight against the implementation of the Russian-Chinese Eurasian economic project to the utmost.
Read more...Ishchenko is misrepresenting the current state of the Russia-China economic partnership and is trying to blame Washington for Moscow’s failures in deepening economic ties with China. -
![Dmitry Medvedev]()
Dmitry Medvedev
Russian Prime Minister
“We have plans to raise the minimum wage to the level of the living wage with the next two years.”
Read more...The government is only planning to do what it should have done 15 years ago as dictated by current law. Even so, it is far from clear that a raise in the minimum wage will put a dent in Russia's rising rate of poverty, especially among the working poor.
