Ukraine adopts 'draconian' budget backed by IMF

Last Updated: Monday, December 29, 2014, 15:34

Ukraine's parliament on Monday adopted an austerity budget that hikes import prices and shrinks social spending in order to balance the books under a plan backed by the International Monetary Fund.

Putin promises economic recovery, digs in on Ukraine

Last Updated: Thursday, December 18, 2014, 19:14

President Vladimir Putin on Thursday tried to quell fears of economic collapse and vowed rapid recovery from the worst financial crisis of his rule but stressed that his position on Ukraine has not shifted.

Russia finance ministry selling reserves to support ruble

Last Updated: Wednesday, December 17, 2014, 15:08

Russia`s finance ministry is selling its foreign currency to support the ruble, a spokeswoman told AFP on Wednesday.

Russian ruble rebounds slightly after record plunge

Last Updated: Wednesday, December 17, 2014, 13:18

Russia scrambled Wednesday to halt a run on the ruble, selling billions of reserves to prop up the currency in the worst economic crisis of President Vladimir Putin`s 15 years in power.

Russia hikes key rate to 17% after record ruble tumble

Last Updated: Tuesday, December 16, 2014, 09:49

The Russian central bank early Tuesday announced a dramatic hike of its key interest rate from 10.5 to 17 percent after the ruble plunged to a fresh record low.

IMF deputy 'impressed' by Ukraine's move toward reform

Last Updated: Sunday, December 14, 2014, 22:21

The International Monetary Fund's number two has said he was "impressed" by war-torn Ukraine's plans for economic changes aimed staving off bankruptcy and a foreign debt default.

Russia warns of recession next year

Last Updated: Tuesday, December 2, 2014, 20:20

The forecast released by the economic development ministry Tuesday was the first acknowledgement that the Russian economy will contract in 2015.

Russian economy to shrink 0.8% in 2015: economy ministry

Last Updated: Tuesday, December 2, 2014, 18:17

The Russian economy ministry slashed its economic forecast for 2015, announcing a contraction of 0.8 percent due to the pressure of Western sanctions over the Ukraine crisis and falling oil prices.

EU says new energy sources crucial after South Stream

Last Updated: Tuesday, December 2, 2014, 18:05

The sudden announcement by Russia that it will shelve the huge South Stream gas pipeline project shows the need for the EU to find new energy sources, European Commission vice president Kristalina Georgieva said Tuesday.

Ukraine President returns to work as protests persist

Last Updated: Monday, February 3, 2014, 11:43

Ukrainian President Viktor Yanukovych returns to work on Monday from four days of sick leave after opposition leaders appealed for Western assistance.

Injured militant leaves Ukraine after Western pressure

Last Updated: Monday, February 3, 2014, 05:32

A Ukrainian protester whose account of torture has shocked Europe arrived in Vilnius late Sunday.

Ukraine president to return, Opposition demands change

Last Updated: Monday, February 3, 2014, 02:38

Ukraine`s embattled president announced he would return to work after four days` sick leave, as protesters filled Kiev`s main square on Sunday demanding he give up power.