Global ratings agency S&P cut Ukraine’s credit rating further Friday, in a move that was not unexpected and follows Moody’s earlier move in the week. It also assigned a negative outlook, saying risks from the military conflict could undermine the government’s ability to meet its debt obligations. The moves flow on from S&P and Fitch swiftly cutting Ukraine on default worries. Russia’s debt was cut to junk back then. The International Monetary Fund is exploring all options to aid Ukraine … Continue reading “Ukraine Credit Rating Cut Further by S&P on Protracted War and Nation Reliant on Donations”
Russia’s Central Bank (CBR) in a fight to arrest the plummeting Russian economy smashed from impacts from the invasion of Ukraine. The CBR has now slashed its key rate by a cumulative 900 basis points since February, the rate was cut to 14% in April, weeks after an emergency rate increase to 20% triggered by Russia’s move to send tens of thousands of troops into Ukraine on Feb. 24 and the Rouble’s collapse. Since than capital controls have seen the … Continue reading “Russian Central Bank Slashed Key Interest Rate to 11% as Inflation Pulls Back From 20-year highs on Rouble Strength”
Credit rating slashed Russia’s credit rating Friday. S&P and Fitch lowering Russia’s rating to ‘junk’ status, Moody’s said it is putting it on review for a downgrade to junk. At the same time S&P and Fitch swiftly cut Ukraine on default worries. The International Monetary Fund is exploring all options to aid Ukraine with further financial support, said its head, Kristalina Georgieva. The Russian declaration of war on Ukraine has ravaged both countries finances and people with severe consequences for … Continue reading “Russia Credit Rating Slashed to Junk by S&P and Fitch, Moody’s Issues Junk Warning”
Tensions between Russia and Ukraine continued to soar after Russia’s parliament appealed to Putin to formally recognize the Russian-backed separatist quasi-states Donetsk and Luhansk People’s Republics independence, in the Donbas region in Ukraine. Such a move Germany’s Scholz says would be a one-sided breach of Minsk format. This would torpedo the peace process and sent the MOEX Russia Index dumped as much as 14% with Rosneft (-18.3%), VTB (-17.3%) and Sberbank (-16.9%) hit. The Rouble shed over 2% on Monday. … Continue reading “Russian Stocks & Rouble Freefall as Putin Recognizes Donbas Independence”
Tensions have risen between the Ukraine and Russia after the Russians seized Ukrainian naval boats in what Oleksandr Turchynov, the Ukrainian Secretary of their Security and Defence Council called the action an act of war. Ukraine to vote on declaring marital law.
Ukraine in July started buying crude oil from Iran from just $236,000 worth in June to $5.442 million in July. This puts Iran behind Azerbaijan and Kazakhstan as the major oil exporters to Ukraine.