The Russian Treasury Department sold $7 billion to bail out the ruble to stop falling
After the ruble plummeted 25% against the dollar in two days, the Russian Ministry of Finance took urgent measures on the 17th to sell $7 billion of foreign exchange to the market to curb the ruble's continued sharp depreciation. This measure appears to have worked, and the ruble exchange rate rebounded on the same day.
According to sources from the Russian Ministry of Finance, in order to curb speculation in the foreign exchange market to buy dollars, the Russian Ministry of Finance decided to sell $7 billion to the market. After this news, the ruble exchange rate increased. At the close of the day on the Moscow Exchange, the ruble recovered from 72.4 to 1 the previous day to 66.8 to 1, and the ruble recovered from 90-1 to 83-1 the day before the previous day.
Putin with the annual press conference
Russian President Vladimir Putin's tradition of holding annual press conferences has taken shape since his first entry into the Kremlin more than a decade ago, and this year's press conference is the 10th time he has held a similar large-scale annual press conference.
During his eight years as president from 2000 to 2008, Putin met with the media seven times on a "massive" basis. The number of registered journalists, the number of questions asked by journalists and the duration of the press conference have increased year by year. In 2001, Putin held his first major annual press conference. About 400 journalists attended and asked 22 questions. By 2008, there were 1,364 registered journalists, and Putin answered 106 questions. The length of the press conference that year also set a record of 4 hours and 40 minutes, a record that has not been broken.
At press conferences, Putin usually begins by summarizing the country's socio-economic development. However, Putin not only answered questions about Russia's domestic and foreign affairs, but also answered questions of a personal nature, such as the recent situation of family life. Putin's colloquial, sharp and humorous style of answering questions has also been enjoyed by the media.
Russian President Vladimir Putin: [They] picked their noses and then smeared them all over the place, and that's how I think about this.
Due to the limited time of the press conference and the large number of reporters on the spot, all the media have done their best to be named and asked questions, but the media reporters who get the opportunity to ask questions every year are still a minority. Despite this, most journalists said that it was a good experience to be able to attend the press conference.
Farov, editor-in-chief of Iran Affairs magazine: The launch of the press conference reflects a high professional standard, and there are many interesting answers, in short, Putin is a master of holding press conferences, he guides the audience very well, and he also has a very good sense of humor.
Wealth shrinks dramatically, Putin's rich friends, are you okay?
For more than a decade, Russian oligarchs have enjoyed the world's largest yachts, the most expensive mansions and the most upscale works of art. The data shows that The 110 richest people in Russia control 35% of the country's total economy. But now, the billionaires who benefited from the Putin era are falling into a situation where their wealth has shrunk dramatically.
Economic sanctions, the depreciation of the ruble, and the collapse of oil prices have hit russia's rich with a bit of a hammer. According to data provided by Bloomberg, these billionaires, who have been dubbed "Putin's friends" by the Western media, have lost more than $50 billion this year. Russian billionaires lost more than $50 billion due to Western sanctions, falling oil prices and the depreciation of the ruble. Below is the top 10 of the wealth loss list ↓↓
1. Leonid Mikherson – $8.7 billion
Michelson, chairman of Russian gas producer Novatek, suffered the biggest losses, with assets shrinking an estimated $8.7 billion and nearly half of his personal wealth. After the Ukraine crisis broke out, Novatek became one of the first companies to be sanctioned by the United States.
2. Vladimir Lissing – $7 billion
Lisin, chairman and largest shareholder of Russia's new Lipetsk Steel Company, was once the richest man in Russia, losing $7 billion this year, almost half of his wealth.
He is also Vice-President of the Russian Olympic Committee and President of the European Shooting Federation. As a gun enthusiast, he reportedly had a large collection of valuable Rifle guns.
3. Alishel Usmanov – $6.4 billion
Usmanov, a Russian iron ore giant, controls a 48 percent stake in Metal Investments, Russia's largest iron ore producer. In addition, he is the owner of the Russian newspaper Kommerskaya.
Usmanov lost $6.4 billion this year. He has also invested in Twitter, travel rental sites and co-owners of Premier League side Arsenal, according to Bloomberg data. He is also President of the International Swordsmanship Association.
4. Andrei Melnitschenko – $5.8 billion
Melnitschenko is Russia's self-made coal mining giant and is currently the majority shareholder of Siberian Coal Energy, Russia's largest independent coal company. He lost $5.8 billion, or nearly 40 percent of his net worth, as a result of Western sanctions and falling oil prices.
His wife is a Serbian supermodel, and he also owns one of the world's most luxurious mega yachts worth $350 million, named "A" after his wife, Alexandra Nicolic.
5. Sergei Galitzky – $5 billion
Galicky, the founder and owner of russia's largest food retailer, the Magnit supermarket chain, lost more than $5 billion this year. A soccer fanatic, he spent more than $250 million to build a stadium and a sports school for his Club Krasnadar. On Monday, his fortune evaporated $855 million that day as a result of the ruble's diving.
6. Vagit Alekperov – $4.9 billion
Alekperov is chairman of Russian oil giant Luk Oil and a former Soviet-era energy minister. Lukoil became the first private company to be sanctioned by the United States after the Ukraine crisis. He lost $4.9 billion in wealth this year, nearly 40 percent of his total assets.
7. Mikhail Friedman – $3.5 billion
Friedman is a Russian investment giant whose fortune evaporated $3.5 billion this year. He made a fortune by selling the Russian-British joint venture, BP Tyumen, to Rosneft. Together with Gelman Khan, he controls Alpha Bank, Russia's largest private lending institution
8. Vladimir Potanin – $2.8 billion
Potanin was a former deputy prime minister of Russia and is now the boss of Norilsk Nickel, the world's largest nickel producer. He lost nearly 20 percent to $2.8 billion. Potanin was one of the main sponsors of the 2014 Winter Olympics in Sochi, Russia, investing heavily in the construction of the Olympic Village.
9. Gelman Khan – $2.5 billion
According to Bloomberg, Khan sold his stake in BP in Tyumen to Rosneft, cashing out $3.3 billion. This year, he lost nearly 22 percent of his wealth, or $2.5 billion.
10. Mikhail Prokhorov – $2.4 billion
Prokhorov is president of on-Theatham Group, an investment firm that owns stakes in Russian banks, energy and mining, and he lost $2.4 billion this year.
He also owns NBA team the Brooklyn Nets. Earlier this year, he said he was considering moving the company that controls NBA teams to Russia in response to Putin's call.