Russian President Vladimir Putin’s estimate for Gross Domestic Product growth by the end of 2025 is 1 %, compared to 4.1 % in 2024.

According to the Russian leader, the nation’s inflation will remain stable, not exceeding 6 %, which is within the national plan.

Putin stated this in a live televised address, adding: “The conditions and opportunities have now been created to begin gradually increasing economic activity. This will be achieved while maintaining low unemployment and, of course, controlled inflation, which, according to the Central Bank of Russia’s forecasts for next year, will be between 4 % and 5 %.”

Putin emphasized that they already have a plan for profound economic reforms by 2030, estimating that by the end of 2026 they will achieve a national economic growth rate no lower than the global average.

M.Pino

Source: bancaynegocios

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La entrada Putin estimates GDP growth of 1 % by the end of 2025 apareció primero en Bitfinance.

This Tuesday will be the meeting scheduled by the Kremlin between the delegates of Russia and the United States in Riyadh, Saudi Arabia, to begin negotiations that will end the war with Ukraine.

The envoys of each country will discuss crucial issues such as “the normalization of bilateral relations, preparations for a summit between the presidents of both countries and future peace negotiations on Ukraine.”

The Russian presidency indicated that the head of government, Vladimir Putin, will be represented at this meeting by Foreign Minister Sergei Lavrov and presidential adviser Yuri Ushakov.

Representing the United States, US Secretary of State Marco Rubio is already in Riyadh, who could be accompanied by other officials from Trump’s cabinet such as national security adviser Mike Waltz and the White House envoy for the Middle East, Steve Witkoff.

For his part, the president of Ukraine, Volodymyr Zelensky, is in the region, having arrived in the United Arab Emirates this Sunday.

The eyes of the world will be on this first meeting to end the conflict between Russia and Ukraine that began in 2022.

 

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Una publicación compartida por Nacional Cuenta Alterna (@elnacionalweb)

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With information from infobae and other national and international media, agencies and social networks

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La entrada Putin sent delegates to Riyadh to negotiate with the US and Ukraine to end the war apareció primero en Bitfinance.

Amid the war in Ukraine, the country is heading towards the early legalization of Bitcoin, according to the chairman of the Committee on Finance, Taxes and Customs Policy of Ukraine, Danylo Hetmantsev.

Ukraine would be one of the first countries to adopt a comprehensive legal framework for cryptocurrencies, whose bill is in the final stage of drafting and could be approved by mid-year.

Hetmantsev confirmed the information and stressed that “the legalization of cryptocurrencies is a priority for the Ukrainian government, which seeks to attract foreign investment and strengthen its economy amid geopolitical challenges.”

In this regard, the country is preparing a tax system similar to that of other investment assets to ensure tax equity and avoid distortions in the market. “A transition period is being considered for those investors who cannot document the acquisition of their digital assets, facilitating their incorporation into the new legal framework.”

On the other hand, the government rules out “tax benefits or special incentives for companies and individuals operating with cryptocurrencies,” since, according to international experts, this could translate into a disproportionate tax burden for traditional industries.

Currently, the National Securities and Exchange Commission is the entity designated to supervise the cryptocurrency market. However, it does not have the necessary institutional capacity. Therefore, the government is studying the possibility that the National Bank of Ukraine will temporarily take on this responsibility, “guaranteeing effective supervision and the protection of investors.”

Necessary measures will be taken to prevent crimes such as money laundering and other illegal activities, promoting an investment-friendly environment.

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Source: cripto247

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La entrada Ukraine plans to approve the legalization of Bitcoin this year apareció primero en Bitfinance.

Bank of America estimates point to a drop in the price of a barrel of oil in 2025 to $65 per barrel due to an excess of supply and a decrease in demand, marked by the advance of clean energy.

According to Francisco Blanch, head of global commodities research at BofA, “the supply of crude oil in global markets will be abundant, avoiding price spikes similar to those of 2022 after the Russian invasion of Ukraine.”

This surplus has been contributed to by factors such as record US production (20% of global supply) and increased production in Venezuela and Iran.

Beyond OPEC+ production cuts, the intention to regain market share in the future remains. The bank maintains that oil production will increase significantly in Brazil, Guyana, Canada and Argentina in 2025. “This increase in supply, combined with a slowdown in demand, reinforces downward price projections.”

On the other hand, the decrease in demand from China, the world’s largest importer of crude oil, is marked by internal economic problems, such as the collapse of the real estate sector, and its transition to electric vehicles and cleaner energy.

JPMorgan adds in its report “Global Commodities 2025 Outlook”, the slowdown in demand growth of around 1.1 million barrels per day in 2025; “Brent will average $73 per barrel in 2025 and fall to $61 in 2026.”

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Source: criptotendencia

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La entrada Bank of America predicts oil price drop to $65 per barrel in 2025 apareció primero en Bitfinance.

Restrictions in Europe on imports of Russian oil do not affect France’s purchase of natural gas from this nation.

Supporters of Ukraine want to curb such trade activities, believing that imports help finance the large-scale invasion of the country.

“Although French companies are the ones that import the most, according to an analysis, in the first half of this year the countries of the European Union imported 7 % more Russian LNG (refrigerated and liquefied natural gas to facilitate maritime transport) than in the same period of the previous year,” according to reports.

Regarding sanctions, Oleh Savytskyi, who is the founder of the non-profit organization Razom We Stand and an advocate for tougher sanctions against Russia’s fossil fuels, noted that the EU has set as its main goal “to progressively eliminate all Russian fossil fuels by 2027.”

In this sense, he warned that countries that maintain imports of Russian natural gas would be sabotaging the region’s energy transition “and contributing billions of euros to Russia’s war actions.”

However, the measure would be radical in relation to energy and heating bills, whose prices would increase exponentially, affecting not only the common citizen, but the industry.

Data from the Institute for Energy Economics and Financial Analysis, IEEFA – a US organization that broke down data from Kpler, a shipping tracker, and ICIS, a raw materials data provider – show French companies imported almost 4.4 billion of cubic meters of Russian LNG in the first half of this year, compared to more than 2,000 million cubic meters in the same period of the previous year. France is followed by Spain and Belgium, with an increase of 1% and a decrease of 16%, respectively.

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Source: euronews             

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U.S. Treasury Secretary Janet Yellen stressed the urgency of the G7 reaching an agreement to use the proceeds from frozen Russian assets and redirect them to Ukraine. This is raised as a crucial step ahead of the next meeting of the group in Sao Paulo.

The current situation has led to an increase in calls in the United States and Europe to create a fund for Ukraine, tapping into the billions of dollars in bank accounts, investments and other assets that remain frozen by the West since the Russian invasion of February 2022.

According to Yellen, it is imperative that the coalition find a way to unlock the value of these frozen assets, with the aim of supporting continued resistance and long-term reconstruction of Ukraine.

The Secretary of the Treasury expressed her belief that there are strong arguments based on international law, economics and morality to move in this direction. It also believes that it would be a decisive response to Russia’s unprecedented threat to global stability. Ultimately, this would send a clear message that Russia cannot win by prolonging the war, but should sit down and negotiate a fair peace with Ukraine.

In the context of the G7, which includes countries such as Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union, the possibility of seizing Russian assets or using them as collateral for borrowing on global markets is being assessed. However, this proposal is not without risks, such as possible legal action by Russia or concern that other countries, such as China, will reduce their investments in the West to protect themselves from similar measures.

The international community is following this situation closely, as Ukraine desperately needs more support in its fight against Russian aggression. The West has frozen about $397 billion in Russian assets, ranging from the central bank to properties and assets of oligarchs close to President Vladimir Putin.

K. Tovar

Source: Business Recorder

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La entrada G7 must reach agreement on frozen Russian assets apareció primero en Bitfinance.

The European Union adopted its thirteenth package of sanctions against Russia in response to Russia’s aggression against Ukraine. This new package affects some 200 individuals and entities, mainly from Russia. Here are the key details:

• Extension of the blacklist: The package consists of adding 200 new persons and entities to the European sanctions list. This means freezing their assets and banning them from entering Community territory.
• Sectoral approach: Measures focus on procurement networks for drone components, which eventually reach the Russian military complex and are used on the battlefield in Ukraine. In addition to several Russian companies, Chinese companies are included in the list for the first time.
• Second anniversary of the conflict: The adoption of this package coincides with the second anniversary of the beginning of the Russian offensive on Ukrainian territory, which is commemorated on 24 February.

European Commission President Ursula von der Leyen applauded the agreement and said: “We must continue to degrade [Vladimir] Putin’s war machine.” In addition, the EU is taking steps to further reduce Russia’s access to drones.

It should be noted that, despite the numerous sanctions imposed by the EU, the Russian economy has shown resilience and has increased the pace of its military production.

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Source: Euronews

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La entrada EU approved new sanctions against Russia apareció primero en Bitfinance.

The European Union (EU) extended for a further six months, until 31 July 2024, the economic sanctions it has imposed on Russia for the occupation of Ukraine.

The 27 began to implement punitive measures against Moscow since the annexation of Crimea in 2014, but increased them after the large-scale invasion of Ukraine on 24 February 2022, affecting various sectors of the economy, such as the financial, industrial, military and transport sectors.

The EU has thus excluded 10 Russian banks from the international SWIFT system, making it difficult for them to access foreign currencies and transfer assets abroad.

Among the main economic sanctions are also the agreement to set limits on the price of Russian diesel and other petroleum products sold by the bloc to third countries or the ban on imports of Russian diamonds into the EU, a measure that will be implemented gradually and will be fully in force by September this year.

The measures also prohibit the export to Russia of dual-use goods, particularly those that Moscow has used on the battlefield.

Since the start of the large-scale invasion, the bloc has also vetoed the EU broadcasting of Kremlin-affiliated Russian media such as RT and Sputnik.

“As long as the illegitimate actions of the Russian Federation continue to violate the prohibition on the use of force, which constitutes a serious breach of obligations under international law, all measures adopted by the EU should remain in force and additional measures should be taken if necessary”, the EU Council said in a statement.

Since February 2022, the EU has approved 12 packages of sanctions against Russia and is already preparing the 14th, focused mainly on preventing Moscow from evading punitive measures, according to EU sources.

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Source: Descifrado

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La entrada The EU extended economic sanctions to Russia apareció primero en Bitfinance.

As the war between Russia and Ukraine continues, some rich Russians continue to transfer their money to Switzerland. This was revealed by an investigation made public on September 14.

Among the wealthy people who have been mentioned in this report by the Tamedia media group are “the daughter and partner of Alexander Ponomarenko, director of Mosvodokanal, the company that supplies drinking water to the Moscow agglomeration.”

These Russians have deposited millions in Switzerland, “even after the war started,” according to documents analyzed jointly with a “Zurich asset manager that appeared on the dark web after a cyberattack.”

It is important to note that in March 2022, Switzerland’s ban on its banks “from accepting deposits of more than 100,000 Swiss francs ($110,000) from Russian citizens” was in force.

However, Tramedia has published that in June 2022, in the midst of the UN complaint in Geneva about the atrocities against civilians in Mariupol, “Ponomarenko’s daughter opened an account at the Reyl bank in Zurich, where she later deposited USD 9.5 million. Five months later, in November, his partner had about USD 26 million deposited in Julius Baer, ​​in addition to USD 4.5 million in the Pictet bank.

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La entrada Russians with large fortunes continue to transfer money to Switzerland apareció primero en Bitfinance.

Ukraine will ask for between $12 billion and $14 billion from the United States in 2024 to cover expenses resulting from the Russian invasion and the slow progress of the Ukrainian counteroffensive.

“Talks have not yet been opened. There are many unknowns, and we are not sure that it can be taken for granted,” Ukrainian Finance Minister Serhiy Marchenko said this Monday in statements reported by Bloomberg.

In addition, Ukraine also hopes to obtain an additional credit line of $3.3 billion before the end of the year.

Last week, the Ministry of Defense announced that it would request an extra increase in funding of 251 billion hryvnia in the face of rising military costs.

Marchenko stated that they will meet as soon as possible to address this request, although he has not been “confident” that “all their needs” can be met.

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Source: Bloomberg

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La entrada Ukraine will ask the US for financing to face its war apareció primero en Bitfinance.