Thurs. PM KTFA News Articles 3-10-22

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Samson » March 10th, 2022

Russia announces the payment of its foreign debt in the ruble currency in response to Western sanctions

10th March, 2022

Russian Finance Minister Anton Siluanov announced today, Thursday, that his country will pay its foreign debts, using the ruble, in response to Western sanctions.

This came during a meeting of the Russian government headed by President Vladimir Putin to discuss the repercussions of the sanctions.

Putin said during the meeting, that “gas exports through Ukrainian territory are continuing and we will fulfill all our obligations regarding oil and gas exports,” adding that “oil exports to the United States do not exceed 3 percent, and US President Joe Biden’s decision to ban Russian oil exports will cause significant inflation levels.”

He continued, “We see an increasing demand for goods and products and will solve all problems,” noting that “we will work to stabilize the domestic budget within Russia.” “Russian citizens will gradually realize that we will not leave any problems unresolved,” Putin said.

In turn, Russian Prime Minister Mikhail Mishustin indicated that “we have banned re-exports to countries that have imposed sanctions on us.” And Mishustin said, “We are considering imposing sanctions on countries that decided to prevent the entry of our ships.” 

In turn, Russian Finance Minister Anton Siluanov confirmed, “We have taken measures to control the flight of investments and capital, grant facilities to companies wishing to invest and have strengthened dealing in rubles.” “We are working to prevent a rise in inflation,” he added. “We will repay our foreign debt with the ruble in response to Western sanctions,” Siluanov noted.   LINK

Source: Dinar Recaps


Samson » March 10th, 2022

Kurdistan suspends work for 5 days on the occasion of Nowruz holidays

9th March, 2022

Wednesday, the Kurdistan Regional Government announced the suspension of work for 5 days on the occasion of Nowruz holidays.

Kurdistan Regional Government spokesman, Jutiar Adel, said in a brief statement received by Mawazine News, that “on the occasion of the Nowruz holidays, from Sunday 20/3/2022 to Thursday 24/3/2022, there will be an official holiday in all institutions of the Kurdistan Regional Government.  LINK

Oil prices are rising again

10th March, 2022

Oil prices recovered, Thursday, after the UAE said that it is committed to the OPEC + agreement to increase monthly supplies by 400,000 barrels per day.

US West Texas Intermediate crude contracts jumped more than three dollars a barrel shortly after the start of trading, and it was traded up 1.90% at 110.23 dollars a barrel at 110.77 dollars. Brent crude futures rose 3.17% to $114.66 a barrel.

Yesterday, global oil prices recorded their largest decline since the early days of the Corona virus pandemic about two years ago, and Brent crude futures fell by more than 17% during the session before declining 16.84 dollars, or 13.2%, to reach at the settlement of 111.14 dollars a barrel, which is its worst drop in 1 day since April 21, 2020.

US futures also fell $15.44, or 12.5%, at $108.70 a barrel, also their worst day since November.  LINK

Source: Dinar Recaps

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