Bank Rossii poured dollars into the currency market, with traders estimating sales of about $10 billion, and raised interest rates after the threat of Western sanctions against Russia sent the ruble to a record low.
The world’s largest oil companies from Royal Dutch Shell Plc to Exxon Mobil Corp. are likely to reassess deals to drill in Ukraine where political crisis is threatening a promising source of new profits as well as the country’s drive for energy independence.
When Igor Sechin was working as President Vladimir Putin’s deputy chief of staff a decade ago, visitors to his Kremlin office noticed an unusual collection on the bookshelves: row after row of bound volumes containing minutes of Communist Party congresses.
In August, Russian President Vladimir Putin flew to the Black Sea resort of Sochi, where his country is spending a record $48 billion on the 2014 Winter Olympics. A regular visitor, with an official residence in town, Putin watched mixed-martial-arts contests at Oblaka nightclub with Russian Prime Minister Dmitry Medvedev and Kazakh President Nursultan Nazarbayev.