The oil market has balanced out in 2016 and will restore in late 2017, Russian Energy Minister Alexander Novak said. "The market follows the path of balance anyway," the minister said in an interview with Russia 24 TV channel. "The year 2016 has already balanced out the market partially, and I think that the market will recover in late 2017"
Russophobian policy of the states should have economic consequences. Russia has demonstrated it by canceling oil and other cargoes’ transit through the Baltic ports. Ukraine may also be deprived soon of its gas transit trough. But one question is still in the air. How will small but proud republics live after 2020?
World-famous Kalashnikov Concern unveiled its latest development at Army 2016 forum in the Moscow region: a small automatic rifle for crews of combat vehicles and special forces. Kalashnikov also introduced other new weapons at Army 2016 Forum in the Moscow region. Experts paid attention to prototypes of sniper rifles VSV-338 and SVK
Societe Generale Bank analyst Albert Edwards said that consumers will hardly be able to keep the US economy afloat for long. Because of the sharp drop in oil prices, American energy corporations have faced serious problems and may fall into a new trap. In less than eight years, the debt of the United States of America has nearly doubled
The Russian currency is nearly seven centuries old. The ruble appeared in the 13th century and for the next two centuries successfully drove out of circulation coins of other countries that people in ancient Russia used to acquire material goods. In addition, the foreign money made of silver was quickly repurposed into the new Russian ruble
Crude oil futures were rising in price steadily last week. Traders are full of optimism. They are confident that world's largest players will take measures to stabilize the oil market. First of all, it goes about agreements between Russia and Saudi Arabia. The first attempt to reach an agreement in Doha suffered a fiasco in April
The implementation of projects for the exploration and development of oil and gas deposits, primarily in the Caspian region, is a priority for the Russian energy sector, President Vladimir Putin said at the opening of the tripartite summit in Baku (Russia, Iran, Azerbaijan)
the entire financial system will have to reboot. All financial pyramids are artificial, and they all fall apart some day. When people believe that the movement of stock prices depends on the economic situation, this is nothing but general misconception. The primary cause for all of this is primitive human greed
Prices on gasoline were lower than on water, and no one was watching its consumption. A new business appeared - smuggling gasoline to neighboring countries. For more than one decade, Saudi leaders have been talking about the need to develop a variety of areas to change the oil-dependent factor in the nation's economy
The treaty establishing the Transatlantic free trade zone between the US and the EU will not be signed this year. Currently, global economy remains under the control of central banks lobbied by transnational corporations. The UK's decision to leave the European Union is a historical mistake, but not an economic tragedy for Europe
Italy's bad debts may trigger a severe crisis in Europe. Even during the financial crisis of 2008-2009, non-performing loans in the US amounted to five percent, The Wall Street Journal said. In Italy, this figure amounts to 17% (360 billion eur). Italian banks account for almost a half of all non-performing loans among public banks in the eurozone
Vendors may soon freeze the supplies of imported alcohol to Russia. Foreign producers of alcoholic beverages have begun to complain about the lack of excise stamps. The number of old-style stamps is limited while new excise stamps are not available
The Panama Canal was opened for navigation on Sunday, June 26, in a festive ceremony after nine years of reconstruction works. The Chinese container ship Cosco Shipping Panama was the first vessel that entered the canal from the side of the Atlantic Ocean