Russia’s ruble gained for the first time in six days against the dollar and Ukrainian bonds surged as prospects grew for a cease-fire after three months of clashes. Equities in the two countries climbed.
The Micex Index gained for the first time in three days, led by power companies, as prospects grew for a cease-fire in Ukraine after discussions between President Vladimir Putin and his Ukrainian counterpart.
Russia’s southern crops were damaged by drought in Krasnodar and some adjacent regions, the country’s traditional breadbasket and main grain exporting area, said Viktor Zubkov, acting first deputy prime minister.
Russia’s fishing catches will increase 41 percent to 6.05 million metric tons by 2020 from a targeted 4.3 million tons this year, First Deputy Prime Minister Viktor Zubkov said in an article published today in the government newspaper, Rossiyskaya Gazeta.
Russia’s government will maintain plans to halt grain exports after the country’s worst drought in more than 50 years, rejecting calls from farmers, exporters and millers to delay until September the ban due to begin next week.
The cheapest valuation on record for shares of OAO Gazprom, the world’s biggest producer of natural gas, is prompting Chairman Viktor Zubkov to buy a stake for the first time since his appointment in 2008.