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Russian Finance Minister: Western sanctions are an obstacle to repaying our debts



Russian Finance Minister: Western sanctions are an obstacle to repaying our debts

He explained that the exchange rate Ruble It is free and governed by supply and demand, and the government seeks through its policies to counter the pressures posed by recent fluctuations in the exchange rate against other currencies.

Siluvanov said, Russia It did not consider refusing to repay its debts because it did not refuse to do so, adding that the real culprit in this current situation was the actions of third parties, explaining that his country had executed “all stated in the debt documents, we changed. Our payments against the deposit of foreign securities … but our money They were disabled in Western payment systems, so they did not reach the beneficiaries of Russian bondholders.

According to Silvano, Russia is currently in the process of collecting bond holders with the possibility of paying their balance in Russian currency and then converting it into the required currency.

However, the minister said, considering the circumstances under which his country is subject to the practices of non-friendly countries, “we have developed a mechanism to prevent foreign investors from receiving their outstanding balances on credit instruments and to avoid restrictions. And the penalty was imposed, we gave foreign investors the right to collect their balance in rubles through Russian accounts, and then convert the ruble into any other foreign currency, and then have the opportunity to extract it.

Low growth

Commenting on the impact of Western sanctions on the Russian economy, the finance minister said, “The sanctions will not benefit anyone, whether Russia or other embargoed countries, themselves.”

According to Siluanov, growth rates Russian economy Despite the sanctions, it is still positive, but after the Russian economy showed steady growth, reaching about 3.5 percent in the first quarter of this year, it faces some decline, indicating that the situation in April and May will change. That fact must be taken into account. “

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Siluvanov pointed out that the Russian government has taken steps to support citizens in light of the new economic conditions facing the consequences of the uprising. SwellingHe said the government was increasing contract pensions and supporting families with children to maintain their standard of living.

The Russian government has decided to support businesses and companies, which, according to the Minister of Finance, support the interest rate on loans, provide tax facilities and concessions, giving priority to small and medium enterprises.

Thus said the Minister Unemployment rate In Russia, it continued to plummet to an all-time low of 3.9 percent.

As for the status of foreign companies operating in Russia, the Finance Minister said that his country is interested in continuing the operations of all foreign companies and that the concessions it has made include all Russian and foreign companies.

Regarding foreign companies that decided to leave Russia, after the crisis in Ukraine, the Minister said, “Allied companies that have decided to leave the country for political reasons will lose their position in the market and the government is now operating. Local companies and Russian businessmen can run these companies and continue their business.” . ” “.

Exchange rate

Western accusations that the Russian government was interfering in the exchange rate and the reasons for the unprecedented rise in the ruble in 7 years, Sluvanov said, “this opinion is definitely wrong.” Free and non-intervention of financial authorities in the currency markets, the Minister explained that “the price of the ruble is determined by the means of supply and demand for currencies”, indicating an increase in export earnings, in particular EnergyAlthough imports are down about 40 percent from their normal rates, “so the supply of foreign currency in the market is largely commensurate with the demand for it, which pushes the rupee to strengthen.”

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“We are currently working to ensure the stability of the currency market situation. We are not pushing for a strong or low ruble rate, but for a predictable exchange rate,” he added.

Commenting on the handling of the dollar and the euro, Silvanov said, “The dollar, the euro and other currencies that we consider unfriendly in the light of current events have become toxic to us.”

“At the level of the Russian Federation, the Ministry of Finance or the Central Bank, these coins are not handled,” he added.

He explained, “Western countries have declared Russia bankrupt after freezing gold and foreign currencies, so all transactions using the currencies of the countries mentioned are at risk to us … Therefore, we are taking steps to allow our exporters and importers national currencies in their accounts or countries that we classify as friends. Switching to handle currencies. It’s safe and secure. As for money transfers in euros or dollars, it may not reach the right parties. “

Russia’s central bank is preparing a case to determine the fate of gold and foreign exchange reserves frozen by international courts, the finance minister said.

Regarding the consequences of the Western decision to ban Russian gold, Silvanov said that it would certainly have an impact on the supply of yellow metal in the markets, but stressed that Russia would continue to export to other markets. Southeast target.

Energy penalty

And Western hardline status in gas and oil supply, andRussian coalIts impact on the resources of the Russian government, the Minister of Finance said, “Exports of energy products bring the most important revenue to the Russian treasury. One-third of the revenue of the federal budget is oil and gas revenue. Trade.”

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Siluvanov said, “Russian companies are actively looking for and selling other markets Oil Successfully, especially since oil consumption is on the rise, it is not possible to replace Russian oil from here, especially after China’s huge economy has recovered from the effects of the corona epidemic.

“If some consumers reject Russian oil, it means that there will be other consumers who buy this oil. This also applies to gas. From here, our companies are working to divert their export routes to other promising markets,” he said. Has grown and grown. “

Attempts by Western countries to set a cap on Russia’s oil prices do not mean that Russia will abide by it, especially since other markets for Russian oil are available for Russian oil, the finance minister said.

“All attempts to target administrative restrictions or price limits will not yield any results,” Siluvanov said.

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Only since the beginning of this year… has the UN been concerned about migrants trying to cross the “death trap”.



Only since the beginning of this year… has the UN been concerned about migrants trying to cross the “death trap”.

More than 2,500 migrants have died or gone missing trying to cross the Mediterranean Sea to Europe since the start of 2023, an official from the United Nations High Commissioner for Refugees announced on Thursday.

“As of September 24, more than 2,500 people are dead or missing,” said Rubin Menegtivela, director of the UNHCR office in New York, during a Security Council meeting dedicated to the migrant crisis in the Mediterranean. That represents a nearly 50 percent increase compared to “1,680” people during the same period in 2022.

“Without public opinion, lives are being lost on the ground,” he asserted.

He pointed out that “the journey to West or East Africa and the Horn of Africa and Libya and the starting points on the coast is one of the most dangerous journeys in the world.”

He added, “Refugees and migrants traveling overland from sub-Saharan Africa face the risk of death and serious human rights violations at every step.”

According to statistics announced by Ruffin Minisdiola, between the beginning of the year and September 24, 2023, a total of 186,000 migrants arrived in Southern Europe (Italy, Greece, Cyprus and Malta), including 130,000 for Italy, “an increase of 83 percent compared to the same period in 2022.

In terms of countries of departure, between the beginning of the year and August 2023, more than 102,000 migrants tried to cross the Mediterranean Sea from Tunisia, and 45,000 from Libya.

Of this number, 31,000 were rescued at sea or intercepted and disembarked in Tunisia, and 10,600 are in Libya.

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Referring to the recent influx of large numbers of migrants to the Italian island of Lampedusa, the official stressed that “Italy cannot respond alone to the needs” of these migrants.

UN refugee agency to “establish a regional mechanism for the evacuation and redistribution” of migrants arriving by sea. Menaktivela reiterated the High Commissioner’s call, which raises disagreements among EU member states.

For his part, Russian Ambassador to the United Nations Vasily Nebenzia, who requested the meeting, denounced the EU for its role in the “death trap” in the Mediterranean.

The ambassador said: “We have the impression that the European Union is waging an undeclared war against migrants because they have no other, safe route.”

“The European Union only cares about the migration issue when it comes to Ukrainians,” Nebenzia added, expressing her regret that other migrants do not enjoy “the same level of solidarity”.

As for French Ambassador Nicolas de Riviere, referring to Russian contributions to UNHCR’s budget, he said, “Russia is not, as always, when it comes to responding decisively to humanitarian crises.”

He added, “Wagner’s presence in the Sahel region contributes to the instability of the region, which fuels terrorism and leads to the migration of residents.”

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US punishes former Sudanese foreign minister



US punishes former Sudanese foreign minister

On Thursday, the United States imposed sanctions on former Sudanese foreign minister Ali Karti, one of which was based in Russia, and accused him of exacerbating instability in Sudan, where fighting has claimed thousands of lives and displaced millions of civilians. ..

The move is the latest round of sanctions imposed by Washington since fighting broke out in Sudan in mid-April between the military and Rapid Support Forces..

Brian Nelson, the Treasury Department’s undersecretary for terrorism and financial intelligence, said in a statement that “the action will be held accountable for those who undermined efforts to find a peaceful and democratic solution in Sudan.”

He added: “We will continue to target those who work to perpetuate this conflict for personal gain.”

The Treasury Department said it targeted Karti, who was foreign minister under former President Omar al-Bashir, noting that Karti became head of the Sudanese Islamic Movement after al-Bashir was ousted in 2019..

Karti has been a prominent figure among the veterans and loyalists of Bashir’s regime since the Sudanese army seized power in 2021 and overthrew the civilian area..

The Treasury Department added: “(Karthi) and other Sudanese militants are actively obstructing efforts to reach a ceasefire to end the current war.”

Also sanctioned was Sudan-based GSK Advance, which the Treasury Department said was used as a procurement vehicle for Rapid Support Forces..

The company is said to be coordinating with Russia-based military supply company Avia Trade, which has been targeted by sanctions, to arrange for the purchase of spare parts and supplies for drones previously purchased by Rapid Support Forces. Training work..

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US Secretary of State Anthony Blinken said in a separate statement that Washington moved this week to impose visa restrictions on people it considers part of efforts to undermine the democratic transition in Sudan..

The new sanctions come after actions taken against the deputy commander of the Rapid Support Forces this month and sanctions imposed by the US in June on companies accused of fueling the conflict..

The measure freezes the assets of targeted individuals in the U.S., generally prevents Americans from doing business with them, and also exposes those who engage in certain transactions with them to economic sanctions..

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70 percent.. comments on the Kremlin’s huge increase in defense spending



70 percent.. comments on the Kremlin’s huge increase in defense spending

The Kremlin said on Thursday that a massive increase in defense spending planned for next year was “absolutely necessary” after a Russian Finance Ministry document released on Thursday said Moscow would increase its defense budget by about 70 percent by 2024. to pour more resources into its war on Ukraine.

Kremlin spokesman Dmitry Peskov said: “Since we are in a state of hybrid warfare, continuing a special military operation, it is clear that such an escalation is necessary and very necessary,” referring to Moscow’s extensive invasion of Ukraine. , “I refer to the hybrid war launched against us.” “.

Defense spending is expected to increase by more than 68 percent year-on-year to reach 10.8 trillion rubles ($111.15 billion), which is 6 percent of GDP and more than allocated spending. Social policy.

Agence France-Presse calculated that by 2024, defense spending is expected to be three times higher than spending on education, environmental protection and health care.

“The focus of economic policy is shifting from an anti-crisis agenda to promoting national development goals,” the finance ministry said in the document.

The increase in defense spending comes as the central bank warned that economic growth will slow in the second half of 2023, with inflation rising above the bank’s target of 4 percent.

It is a newspaperLe MondeAccording to the working sessions on the budget of the Russian Federation next year, Moscow is working to strengthen its financial resources, as the French previously indicated that next year’s Russian defense budget will reach 107 billion euros (over 112 billion dollars). or 6 percent. in gross domestic product.

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The newspaper described the nearly 70 percent increase as “astounding.”

“War of priority.” 36 Trillion Ruble Budget Exposes Putin’s Plans

Russia plans to increase government spending by more than 25 percent in the next fiscal year over the current year, amid expectations that the Kremlin will raise more money to support an invasion of Ukraine by Kremlin forces, according to a report in the British newspaper “Financial Times.”

The newspaper confirmed that defense spending in the war budget for 2023 was 63 billion euros ($66 billion), or 3.9 percent of Russia’s GDP, while military spending was the same in 2021, based on figures from the Bloomberg agency. 2.7 percent of GDP.

It is a newspaperFinancial TimesA British newspaper reported last week that Russia plans to increase government spending by more than 25 percent in the next fiscal year over the current year.

The 36.6 trillion ruble ($383 billion) budget presented by Prime Minister Mikhail Mishustin lists “strengthening the country’s defense capabilities” as a top priority, as well as supporting the “unification of new territories” illegally annexed last time from Ukraine. year.

The plans also highlight “social support for the most vulnerable groups,” a sign that the Kremlin wants to boost spending on pensions and social security ahead of presidential elections next March.

According to experts, Vladimir Putin, who has ruled Russia for 24 years as president or prime minister, is trying to win these elections to extend his rule until at least 2030.

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