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Putin to Address Federal Assembly, CBR Governor to Speak at Banking Event

RUSSIA
  • President Putin addresses the Federal Assembly today, while central bank Governor Nabiullina and other officials will speak at the annual meeting of the Association of Banks of Russia at 12:00GMT/15:00 local time. Gold and forex reserve data will be released this afternoon.
  • Russian oil companies increased production drilling by 5.2% year-on-year to about 2.3 million meters in January, Vedomosti report. Production drilling was expected to decline in 2024, but now companies plan to keep it at the level of 2023, 7% more than planned.
  • Russian gold miners who have been hit by US blocking sanctions are reconfiguring exports by adding intermediaries to the supply chain, Kommersant report. Gold miners have said that while margins have only been slightly reduced, making payments is a bigger problem as payments in even the currencies of friendly countries has been difficult.
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