Russia’s outgoing central bank Chairman Sergey Ignatiev said a single network of at least 1,173 sham companies is responsible for illegally channeling a minimum of 760 billion rubles ($24 billion) from the country.
Iran’s presidential election presents a paradox. The vote was free enough for Hassan Rohani to score a shocking win and for the favored conservative candidate to finish a dismal third. And yet it was blatantly unfair because hundreds of reformist and pragmatic candidates were blocked from running.
West Texas Intermediate crude rose to a four-month high after President Barack Obama was said to authorize arming Syrian rebels groups, ratcheting up tensions in a region home to about a third of the world’s oil supply.