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  • *Novak, Rosneft's Sechin to fly to Vienna before OPEC meeting. Before OPEC meets next week, Russia has already spoken to members Venezuela and Saudi Arabia about the need to support the oil market, and Moscow expects to send a high-ranking delegation to Vienna before the meeting to press the message on prices. A price of at least $100 a barrel is needed to balance the...

  • Russian FM rejects intervention in oil production Friday, 21 Nov 2014 | 6:39 AM ET

    MOSCOW— Russia's foreign minister says there should be no intervention in global energy production, even as the country's economy takes a hit from rapidly falling oil prices. After a meeting with his Saudi counterpart in Moscow, Sergei Lavrov said both Russia and Saudi Arabia did not want oil production targets to be affected by "political or geopolitical...

  • MOSCOW, Nov 21- Former Finance Minister Alexei Kudrin warned President Vladimir Putin on Friday that "excessive conservatism" could restrict economic and political freedoms and said populist policies would weaken Russia. Kudrin, a liberal economist and long-time Putin ally, also said it would take years to woo foreign investors back to Russia and restore...

  • Sanctions hit on Russian economy     Thursday, 20 Nov 2014 | 11:30 AM ET

    Daragh McDowell, senior russia analyst at Maplecroft, says there's "very little" room for the Russian economy to improve when it is still under sanctions from the West.

  • The rouble was also supported by a firming oil price, with Brent crude gaining to $78.8 per barrel as markets weighed the possibility of OPEC cutting production at a key meeting on Nov. 27. "If OPEC takes a decision to reduce volumes this will have a notable impact on the rouble, but for the time being it will probably trade sideways," Grand Capital analyst Sergei...

  • *Western insurers fear further sanctions on Russia. LONDON/ MOSCOW, Nov 20- Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy. Existing sanctions, along with an oil...

  • *Ukraine losses in Q3 at 14.4 bln rbls. MOSCOW, Nov 20- Russia's second-largest bank VTB expects a tough end to the year after posting a 98 percent slide in third-quarter profit because of higher provisions for bad loans, an economic slowdown and losses over Ukraine. The state-controlled bank, which was sanctioned by the United States and European Union over...

  • Russia has little to offer in oil price war Thursday, 20 Nov 2014 | 6:53 AM ET

    *Russia needs oil price of $100 to balance budget. MOSCOW, Nov 20- Russia can do little to shore up slumping global prices even if OPEC wants it to. Before next week's meeting of OPEC, Russia has already spoken to group member Venezuela about the need to "coordinate actions in defence" of oil prices and it plans to send a high-ranking delegation to press the message.

  • Ukraine crisis: No clear solution yet     Thursday, 20 Nov 2014 | 5:30 AM ET

    CNBC's Hadley Gamble talks about how severe the conflict between Russia and Ukraine is becoming with around 13 people a day are dying.

  • Russian ruble driven by a 'number of factors'     Thursday, 20 Nov 2014 | 4:40 AM ET

    Simon Quijano-Evans, head of EM research at Commerzbank, talks about the Russian ruble's recent moves and how the currency is driven by a "number of factors".

  • MOSCOW, Nov 20- The rouble opened stronger against both the dollar and the euro on Thursday, supported by end-of-month taxes that raise demand for the Russian currency, as volatility eased. "Persistent excessive volatility was likely one of the main factors behind the deterioration of forex spot liquidity," VTB Capital analysts said in a note.

  • SPECIAL REPORT-Crimean savers ask: Where's our money? Thursday, 20 Nov 2014 | 1:30 AM ET

    Ten months after Russia invaded this Black Sea peninsula and seized it from Ukraine, the financial fallout is still being felt. Lawyers for the banks are preparing legal actions against Russia, which confiscated many of the banks' buildings, equipment and cash. The banking and phone chaos are another front in the conflict between Ukraine and Russia.

  • *Foreigners dominate Hungary retail market. BUDAPEST, Nov 19- Multi-national supermarkets could be driven out of Hungary, a trade lobby said on Wednesday, after the government raised their inspection costs and threatened to shut them down if they fail to make a profit for two years. Hungary's economy ministry this week submitted to parliament a draft bill that...

  • The big, immediate threat for a foreign oil giant Wednesday, 19 Nov 2014 | 2:15 PM ET
    A tugboat (R) approaches a Petrobras oil platform in Guanabara Bay, offshore from Niteroi, Brazil.

    Brazilian Petrobras shares stabilized for the first time in months, after falling 45% since late August. Is it time for investors to jump in or out?

  • MOSCOW, Nov 19- President Vladimir Putin hailed Hungary as one of Russia's most important partners on Wednesday, giving his seal of approval to a budding relationship with a Soviet-era ally that is worrying some of its European Union allies. While the Ukraine crisis is straining ties between many EU capitals and Moscow, Hungary- which relies heavily on Russia...

  • Moscow's first McDonald's reopens after 90-day closure Wednesday, 19 Nov 2014 | 1:51 PM ET

    MOSCOW, Nov 19- The first McDonald's restaurant in Moscow reopened on Wednesday after closing for nearly a three months over health and safety violations that came as relations between Russia and the United States fell to post-Soviet lows due to the crisis in Ukraine. McDonald's Corp's restaurant, which opened in 1990, closed in late August in what became a...

  • BUDAPEST, Nov 19- Multi-national supermarkets could be driven out of Hungary, a trade lobby said on Wednesday, after the government raised their inspection costs and threatened to shut them down if they fail to make a profit for two years. The government of Prime Minister Viktor Orban has a record of adopting idiosyncratic laws untroubled by how they are viewed...

  • *Uralkali suspends work at mine after water flows in. *Uralkali is key market player, part-owned by Putin ally. MOSCOW/ YEKATERINBURG, Russia, Nov 19- Shares in Russia's Uralkali, the world's top potash producer, fell sharply for a second day on Wednesday after a mine accident that could reduce global supplies and push up prices of the crop nutrient worldwide.

  • Putin, who has fiercely criticised Washington over the crisis in Ukraine that has strained U.S.-Russian relations, spelled out his basic terms for better ties after receiving the credentials of the new U.S. ambassador to Russia, John Tefft. The United States and the European Union have imposed sanctions on Russia over its policies in Ukraine, where...

  • MOSCOW, Nov 19- A surge in profits at Russian meat company Cherkizovo confirmed it as one of the few winners from a ban on Western food imports, but the pork and poultry producer signaled on Wednesday that a weaker rouble could curb a good run. Russia slapped a one-year ban on many Western food imports in August in retaliation to sanctions over Moscow's role in the...