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Russia faces 'perfect storm' as reserves vanish and derivatives flash default warnings

BNP Paribas says Russia no longer has enough reserves to cover external debt and enters this crisis 'twice as levered' as it was before the Lehman crash<p>Russia’s foreign reserves have dropped to the lowest level since the Lehman crisis and are vanishing at an unsustainable rate as the country …

Apple Stops Online Store Sales In Russia Amid Ruble Value Drop

Apple has stopped selling its hardware online in Russia, owing to the currently volatile state of the Ruble, the country’s official currency. In a statement provided to Bloomberg, the company said that it’s taking things offline while it goes through the process of evaluating its pricing, and …

Putin sends New Year's message to Obama

MOSCOW (AP) — Russian President Vladimir Putin has said in a New Year's message to U.S. President Barack Obama that Moscow is looking for equality in …

Russia's finance minister insists currency turmoil is over

Anton Siluanov says Russia's central bank could move to lower interest rates if current "stability" persists<p>The currency turmoil that has rocked the Russian rouble in recent weeks is over, according to the country's finance minister.<p>A number of <b>interventions in foreign exchange markets by the</b> …