Russian Currency War by Other Means Targets Ruble's Oil Link

video

By Anna Andrianova  and Evgenia Pismennaya

A fiscal mechanism unveiled this year, under which the government absorbs all additional revenue when crude is above $40 a barrel, marks a “change in ideology” from the previous mechanism designed to ensure budget stability, according to Deputy Finance Minister Vladimir Kolychev. Given that the central bank is allowing the market to determine the exchange rate, the new approach sets the task of freeing the ruble from oil as the “main goal,” he said in an interview in Moscow.

Why Tiny Qatar Angers Saudi Arabia and Its Allies: QuickTake Q&A

video

By Grant Clark  and Mohammed Sergie

Saudi Arabia and three of its Arab allies cut diplomatic ties with Qatar on Monday, furious with what they see as the tiny emirate’s tolerant attitude toward Iran and Islamist groups such as the Muslim Brotherhood. The moves by the Saudis, Bahrain, the U.A.E. and Egypt came soon after U.S. President Donald Trump visited the region and joined Saudi Arabia in lambasting Iran for sponsoring terrorism from Syria to Yemen.

The international criminal case

By Alina Kantor

Today the former head of Kazakhstan's BTA Bank, Mukhtar Ablyazov, appears on the list of the biggest financial scammers of the 21st century. However, he denies that he stole more than $ 7.5 billion from the bank. He claims that the international criminal case brought against him by the courts of the three CIS countries and several European countries is political pressure. But it is not ruled out that soon a "political affair" will really be launched for him - for organizing extremist activities and financing terrorism in different countries.