• WASHINGTON, Dec 22- Russia is starting to backslide on its commitments to become a fully-fledged member of the global economy and trading community, the United States' trade office said on Monday. Relations between the United States and Russia are at their lowest since the Cold War because of Russia's annexation of Crimea from Ukraine last March and its support...

  • LONDON, Dec 22- Russia has complained that a U.S. move to scrap a 15- year-old deal sheltering Russian flat-rolled steel producers from high import duties is inconsistent with World Trade Organization rules. As a result, Russian steelmaker Severstal now faces anti-dumping duties of 73.59 percent, while other producers like Novolipetsk Steel and...

  • Keep an eye on these emerging market cities Monday, 22 Dec 2014 | 12:00 PM ET
    Vehicle light trails pass the Kingdom Tower on King Fahad Road in Riyadh, Saudi Arabia.

    The fastest growth is not in megacities like Tokyo, but second-tier ones that many Americans have never heard of.

  • According to the median of 11 economists' predictions, gross domestic product will fall 3.6 percent in 2015. After growth of just 0.5 percent this year, the recession will challenge President Vladimir Putin's promise last week that Russia can eventually recover from what he called "tough times". At the start of this year analysts forecast the economy would...

  • NEW YORK, Dec 22- Equity markets worldwide edged higher on Monday after European energy shares rose, even as oil prices remained volatile. A rebound in European energy shares and greater political stability in Greece boosted European bourses. Stocks in Moscow also gained, with the dollar-traded up almost 7 percent following news that oil firm Rosneft had paid...

  • *Trust is Russia's 15th biggest by retail accounts. *Finance Ministry plans to double deposit insurance. MOSCOW, Dec 22- The Russian central bank on Monday announced the first bailout of the rouble crisis, providing up to $540 million to rescue Trust Bank and taking over supervision of the mid-sized lender.

  • Russia isn't like the '1990s'  Monday, 22 Dec 2014 | 11:20 AM ET

    Russia has been dominating the news recently and its economy is not looking good. Anastasia Nesvetailova, director at City University's political economy research centre explains more.

  • Time to end the Cold War for good: Jeffrey Sachs Monday, 22 Dec 2014 | 10:54 AM ET
    Former President of the Soviet Union Mikhail Gorbachev last November.

    The Cuba rapprochement is a reminder that a Ukraine resolution is needed and that it's time to end the Cold War once and for all, says Jeffrey Sachs.

  • *Kudrin: Russia didn't tackle problems fast enough. *Russia to be downgraded to' junk' status next year. MOSCOW, Dec 22- Russia's government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of trouble spreading through the economy.

  • Seeking clear cyber protocols: Ustream  Monday, 22 Dec 2014 | 10:14 AM ET

    Brad Hunstable, Ustream founder and CEO, discusses his company's 2012 cyberattack by Russian sympathizers because of content posted on Ustream.

  • Morgan Stanley, Rosneft deal sours amid sanctions Monday, 22 Dec 2014 | 8:37 AM ET
    An illuminated Rosneft oil company logo sits on the roof of an OAO Rosneft gas station near the Ostankino TV tower displaying the colors of the Russian national flag in Moscow, Russia

    Morgan Stanley and Rosneft announced on Monday that they had to terminate the sale of Morgan Stanley's oil unit due to likely regulatory refusal.

  • Cuba relations with Russia & Venezuela in focus  Monday, 22 Dec 2014 | 8:29 AM ET

    CNBC's Michelle Caruso-Cabrera reports Cuba's relationship with Venezuela and Russia are in focus because of the decline in oil prices. Cuba gets more than half of its oil from Venezuela every day.

  • Russia near full-fledged crisis: Ex-finance minister Monday, 22 Dec 2014 | 8:20 AM ET

    Russia faces a “full-blown economic crisis” next year that will trigger defaults, a respected ex-finance minister has warned. The FT reports.

  • Have 2 small plants in Russia: Caterpillar CEO  Monday, 22 Dec 2014 | 7:37 AM ET

    Doug Oberhelman, Caterpillar Chairman and CEO, explains the impact of currency swings to his business, as well as weakness in Russia's economy.

  • Russia bails out bank following ruble slide Monday, 22 Dec 2014 | 5:44 AM ET

    MOSCOW— Russia has bailed out a mid-sized bank for about $500 million to save it from bankruptcy— a clear sign that the slide in the value of the ruble in the wake of falling oil prices is straining the banking system. The Central Bank said Monday that it will provide a 30- billion ruble loan to help the Trust Bank to continue operating as normal.

  • There were also hopes that Greece could avoid destabilizing snap elections after Greece's Prime Minister Antonis Samaras made a surprise offer to bring pro-European independents into the government if they backed his choice for new president. Britain's blue-chip FTSE 100 index advanced by 1 percent, Germany's DAX by 0.9 percent and France's CAC rose 1.2...

  • Russia to enter 'deep recession' in 2015?  Monday, 22 Dec 2014 | 4:00 AM ET

    With China's foreign minister offering to help Russia if needed, Neil Shearing, chief emerging markets economist at Capital Economics, discusses how Moscow is fairing, saying 2015 will show a "deep recession" for Russia.

  • Belarus enjoys bonanza amid Russia-West tensions Monday, 22 Dec 2014 | 2:27 AM ET

    MINSK, Belarus— As relations between Russia and the West have sunk to their lowest point since the Cold War, there's one country that's reaping rewards— Belarus, whose authoritarian leader was once dubbed " Europe's last dictator" by the United States and the European Union. Food exports to Russia have been a major hard currency-earner for cash-strapped Belarus,...

  • Carlo Gallo, director at Enquirisk, says Russia economic situation is likely to deteriorate further as the oil price remains low and the sanctions bite.

  • Low oil price to fuel resentment in Russia: Pro  Monday, 22 Dec 2014 | 1:30 AM ET

    Carlo Gallo, director at Enquirisk, says the low oil price is likely to lead to a cut back on public spending in Russia fueling "resentment" by the population against the government.