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The Bank of Russia today has decided to keep its key rate on hold at 11% per annum.

The Ministry of Finance has developed amendments to the law On the Central Bank prohibiting the production and turnover of cryptocurrency.

Fitch Ratings has warned the planned tax hike for oil and gas companies could lead to individual downgrades in the sector, says a recent paper.

Russia is planning to create a new cartel which will control over three quarters of the world oil.

PJSC MMC Norilsk Nickel has demonstrated robust financial performance amidst weak commodity markets in 2015. The worlds largest refined nickel and palladium producer in the world published its IFRS report for the full year ended December 31, 2015.

The Russian oil companies will continue to extract the same amount of oil as in January 2016.

Starting from the beginning of 2016 three Russian startups have received investments of 13.1 million rubles on a croudinvesting platform StartTrack.

The financing is necessary for the banks to be able to function properly according to the standards of short-term liquidity introduced in January 2016.

Rosneft and the Venezuela state oil company PDVSA signed a contract at night of the 20th of February according to which the Russian company will invest $500 million into mining in the oil-bearing belt of the river Orinoko.

The park of passenger aircrafts of Russian airlines fell to its lowest level in 2015 over the last decade.

This step may indicate mass withdrawal of the Turkish players from the Russian banking sector.

Russias financial regulators are considering a Cyprus-style banking resolution procedure that would save the state from compensating millions in deposits on behalf of failed banks.

At 2015-year end Russian banks made a profit in the amount of 192 billion rubles. This is three times less than in 2014 (589 billion).

Banking institutions have marked a growth of population demand for POS-credits that is non-typical for January (loan accommodated in the marketplace) for purchase of goods in the distributive networks.

Gasprom has signed a non-discloser agreement with South Stream Transport that should build a sea part of Turkish Stream gas transmission pipeline.

Gazprom increased the volume of purchases of natural gas from Uzbekistan since January 1. The agreements were reached at the end of December 2015.

Petrol production reached 38.9 million tons in 2015, which is 1.6 percent more than last year.

Russias Central Bank has made public its Guidelines of the Single State Monetary Policy for the next three years.

The chairperson of Russias Central Bank, Elvira Nabiullina, provided the rationale behind the decision to keep the regulators policy rate unchanged at 11 percent following the board meeting on Friday.

Russian designer will launch its brand to the world with Italian partners.

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