Russia rejected a proposal to pin some of the responsibility for ensuring economic expansion on the central bank and may use a weaker ruble to salvage growth and replenish the budget, Finance Minister Anton Siluanov said.
BP Plc raising its OAO Rosneft stake shows Russia’s willingness to surrender control over the country’s largest oil producer as the state cuts its business holdings, said First Deputy Prime Minister Igor Shuvalov.
A top government official reaps millions in profits with the help of the nation's wealthiest businessmen. That definitely sounds illegal. So when the international media last week reported such dealings by Russian Deputy Prime Minister Igor Shuvalov, one might have expected a public outcry.
Russia’s central bank is resisting calls to cut interest rates, sparking a “huge argument” with the government over priorities as economic growth slumps, First Deputy Prime Minister Igor Shuvalov said.
Russian First Deputy Prime Minister Igor Shuvalov and his wife, the second-biggest earners among families of Cabinet members, plan to move their assets under Russian jurisdiction to comply with new restrictions.