United Kingdom

Elena Fabrichnaya

CORRECTED-UPDATE 1-Russia to cut dollar share in National Wealth Fund, finance ministry source says

07 Nov 2019

* Russia to add more FX to National Wealth Fund, now at $124.5 bln

Russia's top eight brokerages pass central bank stress tests

29 Oct 2019

MOSCOW Stress tests of the eight largest brokerage companies in Russia have proved their resilience to possible shocks, although many smaller players are struggling to survive, a central bank official told Reuters.

Rosneft switches contracts to euros from dollars due to U.S. sanctions

24 Oct 2019

VERONA/MOSCOW Russia's largest oil company Rosneft has fully switched the currency of its contracts to euros from U.S. dollars in a move to shield its transactions from U.S. sanctions, its Chief Executive Igor Sechin said on Thursday.

Moscow Exchange plans higher dividends, to double retail client base

15 Oct 2019

MOSCOW The Moscow Exchange plans to channel all of its free cash flow into dividends and will also raise a dividend payout floor to 60% from 55% of net profit under a new dividend policy announced on Tuesday.

Russian central bank signals rate cut with an eye on U.S. Fed

14 Oct 2019

MOSCOW The Russian central bank sent a clear signal on Monday that it would cut interest rates soon, saying that expected monetary easing by the U.S. Federal Reserve should justify rate cuts in Russia.

UPDATE 1-Sberbank converted FX proceeds from DenizBank sale in early August - sources

15 Aug 2019

MOSCOW, Aug 15 Russia's largest lender Sberbank sold a large amount of foreign currency for roubles on the market in early August when it converted proceeds from selling its Turkish business, DenizBank, three financial market sources said on Thursday.

Putin seeks proposals on Basel III risk issue this month -economy minister

15 Aug 2019

MOSCOW President Vladimir Putin has given officials until the end of August to make proposals on how Russia should assess commercial borrowers' risks under new international rules that the domestic banking sector plans to adopt, Economy Minister Maxim Oreshkin said.

Relentless rise of consumer debt in Russia fuels bubble fears for some

15 Aug 2019

MOSCOW Natalia Leontyeva, a Siberian sales manager, bought a second hand car in 2013 with a loan worth about four monthly salaries. She now owes the equivalent of at least four years of earnings, one of a growing number of Russians struggling with debt.

Russia's top borrowers join calls to let banks use domestic ratings, central bank resists

08 Aug 2019

MOSCOW Russia's top gas producer Gazprom and a raft of other major firms have added to calls for the banking sector to use domestic ratings in implementing new financial regulations, saying this would ease pressure on banks and cut lending rates.

Russia's central bank seen cutting rate to 7.25% on Friday - Reuters poll

22 Jul 2019

MOSCOW The Russian central bank is expected to cut its key interest rate on Friday after its policymakers indicated that rate cuts were looming amid slowing inflation and sluggish economic growth, a Reuters poll showed on Monday.

World News