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Lavrov & Zakharova Label Crimean Platform Summit a "Political Performance"

RUSSIA

LOCAL NEWS

  • Lavrov slams Crimea Platform Summit as an empty endeavour with no prospects and has arisen from the falsely interpreted solidarity of the EU and NATO members.
    • Kremlin FM Spox Zakharova also warned that the platform and participation of various members encroaches on Russia's territorial integrity – saying it was "a political performance removed from reality"
  • Foreign ownership of OFZs increased by RUB 87bn last week, nearly 4x more than the week before according to NSD data, bringing the share in this market to 20.85% (RUB 3.198tn).
    • Local economist notes attractive fundamentals as the core driver of increased demand amid the CBR hiking cycle
  • Putin says the automatic writing off of special state payments and benefits for citizens by banks to pay off debts is unacceptable, the new composition of the State Duma should pass a law banning this practice immediately after elections

Data:

  • 1700BST: July industrial production y/y exp at 8.0% vs 10.4% prior
  • 1700BST CPI weekly YTD, prior 4.5%
  • 1700BST CPI WoW, prior -0.0%
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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