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The Latest Breaking News from Anton Siluanov

Putin has been told his war in Ukraine is now ‘unsustainable’ – here’s why

IN FULL

The Independent UK

Vladimir Putin warned by his own officials that mounting cost of Ukraine war is ‘unsustainable’

The Kremlin has warned that cutting defence spending now would hurt Russian businesses dependent on lucrative contracts

The Independent UK

Russia to overspend on war in Ukraine by at least $28bn this year

IN FULL

The Independent UK

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Russia’s ballooning $28bn Ukraine war bill forces Putin to make spending cuts

Russia continues to spend big on the war as its gains in Ukraine shrink to a fraction of what it took last year

The Independent UK

Russia’s economy minister warns that the country is on the brink of recession

Russia’s economy has been hit with a slew of sanctions after the Kremlin sent troops into Ukraine

The Independent UK

Russia’s rouble plunges to lowest rate since early weeks of Ukraine war

Rouble hit 110 against the dollar after US introduced sanctions against Gazprombank, Russia’s third largest bank

The Guardian - UK

Russian Finance Ministry Signals Willingness To Resolve Crypto Regulation Spat With Central Bank

Russia's central bank and finance ministry have been at odds over cryptocurrencies for years, but it appears the parties are gradually showing willingness to meet halfway as the crypto industry rises higher.

International Business Times

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UK imposes sanctions as Russia jails Putin critic for 25 years

The United Kingdom on Monday sanctioned "key figures involved in [the] deplorable sentencing" of a dual national Russian dissident as courts dismissed his appeal against a 25-year sentence. Earlier a Russian attack on Ukrainian President Volodymyr Zelensky’s hometown of Kryvyi Rih killing at least six people with more likely trapped…

France 24

Putin chuckles as he hugs girl, 8, during Kremlin tour weeks after coup

Vladimir Putin said he invited the youngster and her parents to the Kremlin after he saw her crying because she couldn't meet him during a public stunt to drum up support after the Wagner mutiny

Daily Mirror

Putin clashes with own finance minister over damage done to Russian economy by oil sanctions

Putin appears to downplay Anton Siluanov’s concerns by saying the situation is ‘absolutely stable’

The Independent UK

Russia stands by 2% of GDP budget deficit plan after huge Jan shortfall

Russia's finance ministry is sticking with plans to post a budget deficit of no more than 2% of gross domestic product (GDP) in 2023, despite towering spending and slumping energy revenues contributing to a huge shortfall in January.

Reuters

Russia rainy day fund shrinks by $38 billion as government plugs deficit

Russia's National Wealth Fund shrank to $148.4 billion as of Jan. 1, down $38.1 billion in a month, as the government took out cash to plug its budget deficit, data showed on Wednesday.

Reuters

Putin buys off the poor, writes off middle class with war budget

Alexei Malov’s dream was to own a white Lada.

Tribune News Service

Russia may hike taxes as military spending, oil price weigh on budget

Russia is becoming too dependent on oil revenues to support its budget as it ramps up military spending, economists said, warning that the government may have to raise taxes if prices of crude fail to meet expectations this year.

Reuters

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France 24

Ukrainian forces break through Russian lines in key Kherson advance

Ukrainian forces on Monday achieved their biggest breakthrough in the Kherson region since the war began, bursting through the Russian front and advancing along the Dnipro River to threaten Russian supply lines. In Zaporizhzhia, the UN nuclear watchdog said the head of the Russian-occupied nuclear power plant had been released.…

Reuters

Russia has funds to support four regions being annexed - Finance Minister

Russia has funds to support four Ukrainian regions which President Vladimir Putin began annexing last week and these funds are part of the country's budget, Finance Minister Anton Siluanov told parliament.

Reuters

Russia could make asset purchases under budget rule in 2023 -Ifax cites Finance Minister

Russia could make asset purchases under its budget rule next year, when oil prices are above the base level, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Tuesday.

The Times of India

Ukraine war: Russia defaults on foreign debt for first time Since 1918

Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors.

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The Independent UK

Russia offers foreign debt payment system similar to gas one

Russia says it will use an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts

Al Jazeera

Latest Ukraine updates: Putin warns West against arming Kyiv

Ukraine news from May 28: French and German leaders urge Putin to hold ‘serious negotiations’ with Zelenskyy.

Reuters

Russia needs huge financial resources for military operation - finance minister

Russia needs huge financial resources for its military operation in Ukraine, Finance Minister Anton Siluanov said on Friday, putting the amount of budget stimulus for the economy at 8 trillion roubles ($120 billion).

Al Jazeera

Officials walk out of G20 meeting over Russia’s participation

US, Canadian and British officials leave Group of 20 meeting in Washington as Russian delegates speak, UK minister says.

Axios

Yellen, Powell walk out of G20 meeting during Russian minister's speech

Yellen and Powell were joined by other delegates, including ECB head Christine Lagarde.

Reuters

Delegate protests over Russia to upstage G20 meeting

Western nations are preparing to stage coordinated walk-outs and other diplomatic snubs to protest against Russia's invasion of Ukraine at Wednesday's meeting of G20 finance ministers in Washington, their officials said.

Reuters

Russia to spend over $32.3 billion to support economy under sanctions

Russia plans to spend over 2.5 trillion roubles ($32.3 billion) on supporting its economy that has been targeted by unprecedented western sanctions, Finance Minister Anton Siluanov said on Tuesday.

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