Russia Weighs Policy ‘Creativity’ If Sanctions Tightened - Bloomberg:
"Russian policy makers are discussing non-standard monetary instruments they may use if the European Union tightens the stranglehold of sanctions over Ukraine, according to central bank First Deputy Chairman Ksenia Yudaeva.
“We have different scenarios, different alternatives to act -- the situation demands creativity,” Yudaeva told reporters today in the Black Sea resort of Sochi. “We’re in constant dialogue with banks and are considering all options. To be honest, we don’t see any need for unsecured loans, but we’re preparing this instrument, too.”
Russia’s government and the central bank are weighing measures to support the financial system after the U.S. and the EU imposed sanctions to penalize the country over the Ukrainian crisis, choking access to international credit for some lenders."
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Saturday 6 September 2014
Russia’s Gazprom to fall under new EU capital ban – sources — RT Business
Russia’s Gazprom to fall under new EU capital ban – sources — RT Business:
"Russia's Gazprom Bank and oil producer Gazprom Neft will fall under new sanctions approved by the European Union on Friday, Reuters cited an EU diplomat as saying. The sanctions reportedly include a new ban on raising capital in the 28-nation bloc.
The sanctions were agreed against Russia for its alleged role in the Ukrainian crisis, the diplomatic source said.
According to The Financial Times, which managed to obtain a document outlining the sanctions, all Russian state-controlled companies with assets of more than one trillion rubles (US$27 billion) that receive more than half their revenue from “the sale or transportation of crude oil or petroleum products” will be hit by the ban."
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"Russia's Gazprom Bank and oil producer Gazprom Neft will fall under new sanctions approved by the European Union on Friday, Reuters cited an EU diplomat as saying. The sanctions reportedly include a new ban on raising capital in the 28-nation bloc.
The sanctions were agreed against Russia for its alleged role in the Ukrainian crisis, the diplomatic source said.
According to The Financial Times, which managed to obtain a document outlining the sanctions, all Russian state-controlled companies with assets of more than one trillion rubles (US$27 billion) that receive more than half their revenue from “the sale or transportation of crude oil or petroleum products” will be hit by the ban."
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Fitch Affirms Saudi Arabia at 'AA'; Outlook Stable | Reuters
Fitch Affirms Saudi Arabia at 'AA'; Outlook Stable | Reuters:
"Fitch Ratings has affirmed Saudi Arabia's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'AA'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling has been affirmed at 'AA+' and the Short-term foreign currency IDR at 'F1+'. KEY RATING DRIVERS The affirmation reflects the following factors: Saudi Arabia has exceptionally strong sovereign and external balance sheets. "
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"Fitch Ratings has affirmed Saudi Arabia's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'AA'. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling has been affirmed at 'AA+' and the Short-term foreign currency IDR at 'F1+'. KEY RATING DRIVERS The affirmation reflects the following factors: Saudi Arabia has exceptionally strong sovereign and external balance sheets. "
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