The Ukraine crisis has cost Russian banks $5bn – that’s 25 per cent of their revenues April 13, 2015 The Ukraine crisis has hit Russian banks to the tune of somewhere between $4bn and $5bn, credit ratings agency Standard & Poor's reckons. That's between a fifth and a quarter of their total operating revenues. It's hardly surprising that the crisis has cost lenders money – but what is surprising is that S&P believes there [...]
A year after Russia’s annexation of Crimea, has the West managed to contain Vladimir Putin? March 16, 2015 Timothy Ash, head of emerging market research (excluding Africa) at Standard Bank, says Yes To answer this, one has to understand Vladimir Putin’s overall long-term strategic objectives regarding Ukraine. If they are threefold – no EU, no Nato and no successful Maidan administration in Kiev – then the Russian President has unfinished business. The combination [...]
The Germans want an EU army, but Britain is against it March 8, 2015 Jean-Claude Junker has called for the creation of an EU army, saying it would help the bloc be taken more seriously across the world. The President of the European Commission believes it will deter threats from Russia, which have escalated since the start of the Ukraine crisis. "With its own army, Europe could react [...]
Boris Nemtsov murder: Two arrested say Russian authorities March 7, 2015 Russia has announced that two men have been arrested in connection with the murder of politician Boris Nemtsov. Alexander Bortnikov, the head of the Federal Security Service (FSB), announced on Russian television that Anzor Gubashev and Zaur Dadayev were arrested this Saturday. Russia has been in a state of shock since the opposition politician was [...]
Ukraine hikes interest rates to 30pc to stem runaway inflation March 3, 2015 Ukraine has hiked interest rates by whopping 10.5 percentage points to 30 per cent. The war-torn country's central banks took the dramatic step to tackle runaway inflation and a weak currency. So far this year Ukraine's currency, the hryvnia, looks set to replicate its position last year as the world's worst performing currency. The hryvnia [...]
Boris Nemtsov: Key facts about the Russian politician shot dead in Moscow this morning February 28, 2015 Boris Nemtsov, a fierce critic of the Putin administration, was killed just metres away from the Kremlin in Moscow late last night. The 55-year-old opposition politician was shot four times by a gun from a passing car, just hours after trying to garner support for a march against the crisis in Ukraine. Nemtsov was [...]
Which countries would be affected if Vladimir Putin and Russia turn off the gas? February 26, 2015 Vladimir Putin could be considering closing the taps on Europe’s gas supply. Yesterday, Russia threatened to trim gas supplies to Europe in a matter of days, an action that could have a severe effect on the region. Although some countries have moved to cut their dependence on Russia, much of the continent’s gas is on the [...]
EU re-ignites investigation into anti-trust activities by Russia’s Gazprom February 25, 2015 The EU is about to get going with its huge anti-trust case against Gazprom, Russia's biggest energy company. Responsible for supplying the European Union (EU) with 30 per cent of its gas, Gazprom has been accused of breaching the bloc's rules through over-charging customers in eastern European countries, hindering the progress of rival [...]
Putin has an upper hand – it is high time the West said enough is enough February 15, 2015 Vladimir Putin once said “There is no such thing as a former KGB man.” The problem in dealing with the present Russian Tsar is that he knows far more about our weaknesses than we do about his. Coming to maturity as a KGB officer in eastern Germany, the young Vladimir Putin’s tradecraft involved incessantly analysing [...]
Ukraine crisis: Ceasefire violated within an hour, but is largely holding February 15, 2015 The Ukrainian ceasefire agreement lasted all of 50 minutes. Both sides accused the other of having broken the accord, with the telling shots fired near the town of Debaltseve, where 6,000 government troops are being besieged by separatist forces. Both sides allege that within an hour of the midnight cease in hostilities, artillery shells were [...]