The US imposes further sanctions on Russia

The Obama administration tightened economic pressure on Russia over its intervention in Ukraine by imposing further sanctions on some Russian individuals and companies. Most of the targeted groups were associates or bank subsidiaries of people and companies already sanctioned before by the Treasury Department’s Office of Foreign Assets Control. The group includes 34 people or…

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Exploring the Kazakh Economy: An Interview with Sabit Khakimzhanov

Earlier this year we had the opportunity to speak to Dr. Sabit Khakimzhanov,  the head of research at Halyk Finance, a leading Kazakh investment bank focused on Central Asia. Khakimzhanov is an authority on the Kazakh economy and investment climate, and has written and spoken widely on Kazakh monetary policy. Dr. Khakimzhanov has a Ph.D. in Applied Economics from…

Iran Issues $300 Million in State Treasury Bills

Iran announced that it will issue $300 million in state treasury bills, an Iranian alternative to sovereign debt that is sharia-law compliant. The bills are being issued well below their market value for the time being and are seen as a means of gauging interest in the opening Iranian market. The Iranian government has previously…

Russia Expected to Reduce Budget Planning Period to One Year

The Financial Times profiles a recent proposal made by Russian Prime Minister Dmitry Medvedev to formulate yearly budgets every year as opposed to the traditional three years. The government’s official reasoning is that fluctuating oil prices make economic planning difficult. The real reason, according to the FT is that Russia is concerned about a looming…

Ukraine Reaches Agreement to Restructure Debt

Ukraine reached an agreement with a group of its creditors to restructure its debt and avoid a looming default. The investors will accept a 20% write-off on the estimated $18 billion in debt on the country’s bonds and accept a freeze on repayment for the next four years. The Ukrainian finance ministry has lauded the…