Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
US President Donald Trump arrives in Saudi Arabia, beginning Gulf trip that includes Qatar, UAE.
Support and Stability Apparatus (SSA) chief Abdel Ghani al-Kikli confirmed dead.
Gunfire heard in various areas of the Libyan capital of Tripoli.
Libyan sources: The Ministry of Interior urges all citizens in Tripoli to remain in their homes.
Libyan sources: Air traffic halted at Tripoli Airport following reports of the death of Support and Stability Apparatus (SSA) chief Abdel Ghani al-Kikli.
Libyan sources: Clashes and military movements reported inside the capital, Tripoli.
Sheikh Qassem: Lebanese officials must also prioritize rebuilding the state economically and socially, as well as returning the depositors’ funds.
Sheikh Qassem: The second priority is reconstruction, and I call on the Lebanese government to place this item first on the agenda of its next session.
Sheikh Qassem: Lebanese officials must prioritize ending Israeli aggression, its violations, its occupation, and securing the release of prisoners.
Sheikh Qassem: We are part of the new era and partners in its benefits, and we want those who previously took certain stances for specific reasons to reconsider them in order to build the country.

Russian economy showing signs of resiliency - Bloomberg

  • By Al Mayadeen English
  • Source: Bloomberg
  • 7 Jul 2022 14:13
  • 1 Shares
3 Min Read

Western sanctions are failing in containing the Russian economy.

  • x
  • Signs of resiliency shown by the Russian economy
    Signs of resiliency shown by the Russian economy

Western economic forecasters did not anticipate Russia's economy to show signs of improvement with the many sanctions imposed by EU and US. Russia has managed to prevent the collapse of its currency and continues to benefit from the surge in hydrocarbon prices.

Their intent was to “punish Russia. Assets were frozen, and companies were punished. But they failed,” said Russian President Vladimir Putin on Friday, June 17, during the Economic Forum of Saint Petersburg, once considered a symbol of openness to commercial relations with the West.

Since the beginning of the war on February 24, 2022, the US and the EU have multiplied punitive measures to isolate Russia by targeting its banking system, freezing the assets of its leaders, and its industries.

Acknowledging certain difficulties, in particular on the issue of inflation which reached a peak of 17.8% in May, Vladimir Putin asserts that the involvement of businesses and the authorities has today made it possible to "stabilize the financial situation and economy" of the country. In the West, however, many observers claim that the worst is yet to come for Moscow.

Related News

EU delays exit proposal from Russian energy amid geopolitical shifts

EU split over Russian gas comeback in war talks: FT

At the beginning of March, a week after the start of the Russian war with Ukraine, the ruble had fallen to its historic low against the dollar and the euro - a consequence of the announcement of the first Western sanctions, in particular, the freezing of the reserves of the Russian Central Bank held abroad.

In the event of a crisis, money held in foreign currencies can be used by a country to boost the value of its own currency, which the United States and Europe wanted to avoid in the case of Russia. But the Russian Central Bank managed to counter this measure by massively raising its interest rates to 20% and imposing drastic capital controls on companies as well as on its citizens.

Since then, the price of the ruble has risen sharply, to the point of reaching, on Monday June 20, its highest level for almost seven years against the dollar on the Moscow Stock Exchange (55.44 rubles for one dollar).

Another key factor explaining the rise of the rouble is the sale of hydrocarbons, which alone constitutes more than 60% of the country's exports.

Forced by sanctions to drastically reduce its import volumes, Russia continued to sell its oil and gas massively for export, which "contributed to the demand for rubles" on the international market, says economist Julien Vercueil.

“We are not at the level of stress that we had assumed for 2022,” Rosbank economist Evgeny Koshelev told sources. “We should expect better trends because both budget and monetary policies are overall stimulative.”

  • Russian oil
  • US sanctions on Russia
  • Russian economy
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • 9 May 2025
Pakistan downs an Indian jet and hits a military base in Kashmir escalation.

Pakistan downs 3 Indian jets, hits military base in Kashmir escalation

  • Politics
  • 7 May 2025
A Yemeni gunman walks past paintings depicting rockets and scenes in solidarity with Gaza, displayed on a roadside fence in Sanaa, Yemen, Monday, May 5, 2025 (AP)

Oman brokers US-Yemen ceasefire, Israelis in dark regarding deal

  • Politics
  • 6 May 2025
Saree

Yemeni Armed Forces target key Israeli sites, USS Truman

  • MENA
  • 7 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Hezbollah Secretary-General Sheikh Naim Qassem gives a speech to commemorate martyr Sayyed Mustafa Badreddine on May 12, 2025 (Al Mayadeen Screengrab)
Politics

Israeli pressure doomed to fail, Resistance to prevail: Sheikh Qassem

AP
Politics

'Israel is spiraling' amid Gaza war, internal fractures: The Nation

UNIFIL
Politics

'Israel' hindering Lebanese Army deployment in south: UNIFIL

The scene at BBC Broadcasting House in London, after red paint was sprayed over the entrance. (AP)
Politics

UK journalists given guidebook after failing on covering Gaza genocide

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS