russia

U.S. ‘very disappointed’ by Russian ban on U.S. meat

"Washington sharply criticized Moscow Monday for banning imports of US meat, saying the Russians had ignored scientific proof that an additive in US animal feed is safe. Top US officials said that global food-safety experts had cleared the additive, ractopamine, as safe at levels used in the United States. But Russia, enforcing its own rules against any presence of ractopamine, on Monday banned all imports of beef, turkey, chicken, pork and other animals." Continue reading →

Continue ReadingU.S. ‘very disappointed’ by Russian ban on U.S. meat

Tax Haven Reputation Plagues Planned EU Bailout of Cyprus

"The euro rescuers face a dilemma. On the one hand, they want to prevent the country from going bankrupt. On the other hand, they lack the support of a majority of member states for an aid program that would mostly benefit rich Russian tax fugitives. The tricky situation is prompting European leaders to do what they always do when a crisis comes to a head: play for time. Until now, someone who wanted a safe haven for his money could simply take a plane to Nicosia, because the country is an EU member and yet is lax when it comes to financial regulation, say German investigators." Continue reading →

Continue ReadingTax Haven Reputation Plagues Planned EU Bailout of Cyprus

Putin Turns Black Gold Into Bullion as Russia Out-Buys World

"When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it. Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty." Continue reading →

Continue ReadingPutin Turns Black Gold Into Bullion as Russia Out-Buys World

Jim Rogers: Short US Government Bonds ‘Right Now’

"With the Federal Reserve and now Bank of Japan printing massive amounts of money, billionaire investor Jim Rogers told CNBC's 'Closing Bell,' he is shorting U.S. government debt. 'It's all artificial what's going on right now,' Rogers said. 'The Federal Reserve is printing money as fast as they can. The Bank of Japan said 'we're going to print unlimited money.'' He called the Fed's monetary stimulus 'outrageous.' He also likes Russia for the first time in his career. Russia is changing but the market remains unloved. Rogers is buying the bonds, the currency and stocks." Continue reading →

Continue ReadingJim Rogers: Short US Government Bonds ‘Right Now’

Russia Says World Is Nearing Currency War as Europe Joins

"The alert from the country that chairs the Group of 20 came as Luxembourg Prime Minister Jean-Claude Juncker complained of a 'dangerously high' euro. The push for weaker currencies is being driven by a need to find new sources of economic growth as monetary and fiscal policies run out of room. The risk is as each country tries to boost exports, it hurts the competitiveness of other economies and provokes retaliation. The skirmish may lead to a clash of G-20 finance ministers and central banks when they meet next month in Moscow, three months after reiterating their 2009 pledge to 'refrain from competitive devaluation of currencies.'" Continue reading →

Continue ReadingRussia Says World Is Nearing Currency War as Europe Joins

Russia pulls out of decade-old drug control agreement with U.S.

"The United States on Wednesday criticized what it described as Russia’s 'self-defeating' decision to pull out of a decade-old drug control agreement. Nuland said the decision to end the program which had committed some $2 million for law enforcement training had come out of the blue, and Washington had only been informed of its this week. It is the third bilateral accord ripped up by Moscow in recent months — after the Russian government shut down the USAID aid agency offices last year and also banned adoptions of Russian children by US families." Continue reading →

Continue ReadingRussia pulls out of decade-old drug control agreement with U.S.

Russia To West: We Told You Not To Overthrow Qaddafi!

"'Those whom the French and Africans are fighting now in Mali are the [same] people who ... our Western partners armed so that they would overthrow the Gaddafi regime,' Russian Foreign Minister Sergey Lavrov told a news conference. The toppling of Libyan ruler Muammar Qaddafi led to 'perhaps the greatest proliferation of weapons of war from any modern conflict,' Emergency Director of Human Rights Watch Peter Bouckaert told The Telegraph. Those weapons stockpiles were raided by both sides, and both sides had connections with radical militants." Continue reading →

Continue ReadingRussia To West: We Told You Not To Overthrow Qaddafi!

Russian central bank to keep buying gold

"The Russian central bank will continue to buy gold as it seeks to diversify its foreign reserves away from paper assets it views as risky, First Deputy Chairman Alexei Ulyukayev said on Thursday. The Bank of Russia has built up the world's fourth-largest foreign reserves, worth $530 billion, by buying oil export dollars to keep the rouble competitive. The hoard includes two rainy-day budget funds that guard against fiscal shocks. The bank has also been a bullion buyer and the share of gold in its reserves is approaching a medium-term target of 10 percent." Continue reading →

Continue ReadingRussian central bank to keep buying gold

Putin grants French actor Gerard Depardieu Russian citizenship

"Russian President Vladimir Putin on Thursday granted fast-track citizenship to France’s Gerard Depardieu after the movie star complained about the French Socialist government’s proposed 75 percent tax on the rich. The decision appears to give Depardieu — a frequent guest of the Moscow celebrity circuit who nonetheless never asked for a Russian passport — the right to pay the 13 percent tax levied in Russia on everyone from billionaires to the poor." Continue reading →

Continue ReadingPutin grants French actor Gerard Depardieu Russian citizenship

Russia unveils $25 billion oil pipeline to the Pacific

"The East Siberia – Pacific Ocean (ESPO) link is also expected to expand sales to the United States and fulfil Putin’s dream of cementing Russia’s place as a dominant force on international crude markets. Moscow hopes to make ESPO into a benchmark in the Asia Pacific region that competes with WTI — the US oil standard whose price some traders believe is too heavily based on domestic political factors. The port — previously connected to East Siberian crude by rail — also provides Russia with quick access to Japan and South Korea. The head of the Transneft state oil pipeline operator said most of the crude from the final leg would in fact be destined for the U.S." Continue reading →

Continue ReadingRussia unveils $25 billion oil pipeline to the Pacific