Russia: Ruble stabilizes after Putin’s speech

After Putin’s speech yesterday, the Russian ruble’s precipitous decline has stabilized somewhat. The President of Russia tacitly endorsed the central bank’s policy of interest rate inflation and kept outlook relatively focused on the currency crisis rather than declining government revenues and sanctions. The currency is holding steady right now at 61 rubles on the dollar,…

Iran Deal: Talks proceed despite uncertainties, new date set

Iran announced yesterday that bilateral negotiations with the United States proceeded “in good atmosphere” despite lingering gaps on Tehran’s uranium enrichment and uncertainty over economic sanctions being lifted with a new US Congress in play for the coming year. The P5+1 powers and Iran failed to strike a deal by the self-imposed deadline last month…

Russia: Central Bank Preemptively Raises Interest Rates

Russia’s central bank stepped up its efforts to ward off rising inflation by raising the national interest rate to 10.5%. Inflation in the country has risen slowly but steadily as the economy worsens as a result of falling oil prices and economic sanctions that impact its defense and energy sectors. The move constitutes the second…