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Putin and Xi Jinping Set to Attend G20 Meeting

RUSSIA
  • Speaking in a Bloomberg interview, Indonesian President Joko Widodo said Chinese President Xi Jinping and Russian leader Vladimir Putin are both planning to attend the G20 summit in Bali later this year. The presence of the two leaders would be the first time they meet President Biden and other democratic leaders in-person since Russia invaded Ukraine.
  • Citing data from the central bank, Kommersant report that Russian citizens increased the amount of foreign currency deposits in foreign banks to a value of $4.7 billion, which is the highest amount since the beginning of 2018. In May, the value of accounts and deposits abroad was only $1.7 billion.
  • Forbes report that Russia climbed to third place in the use of the yuan for international payments having not been on the list at all in March. Russia accounted for 3.9% of yuan transactions in July. Only the UK (6.35%) and Hong Kong (70.93%) are ahead of it. According to Reuters, this indicates that Western sanctions are successful, as Russia is being pushed out of the dollar-based global banking system.
  • President Vladimir Putin will meet Kazakhstan counterpart Kassym-Jomart Tokayev in Sochi today. Data-wise, the Bank of Russia will report weekly changes in its monetary base at 0900 BST (1100 local time).
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