The IMF has raised Russia’s growth forecast on higher commodity prices amid the global economic fallout from the Middle East war Read Full Article at RT.com
Ukraine's state-owned Danube Shipping Company (UDP) has suffered significant losses and market share decline due to persistent corruption and mismanagement, despite the Danube River becoming a key export route. A supervisory board member cited a 62% freight division collapse and a drop in market share from 3.11% to 1.1% between 2020-2024.
President Putin met with his cabinet to address fuel and transport sector operations. He instructed officials to expedite fuel supplies to Crimea, stating current shortages are temporary and the energy sector has a high safety margin. Measures include rescheduling refinery maintenance and imposing a ban on diesel exports.
Inflation in Russia increased to 0.31% in the week of June 30 to July 6, up from 0.22% the previous week. Consumer prices have risen 0.26% since the start of June, with notable price hikes in poultry, sugar, and various food items.
Brent crude oil futures for September delivery exceeded $80 per barrel on London's ICE exchange for the first time since June 22. WTI crude futures also saw a significant rise.
Russia's domestic fuel market has partially stabilized but remains challenging due to peak summer demand and refinery maintenance, Deputy Prime Minister Alexander Novak stated. The government is considering measures like a potential ban on diesel exports to address the situation.
Russia's government has extended its temporary ban on diesel fuel, marine fuel, and gasoil exports to include petroleum product producers. The ban, initially set to expire July 31, 2026, aims to stabilize the domestic fuel market but excludes supplies under intergovernmental agreements.
