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Putin, Xi to Hold Talks by Year-End

RUSSIA
  • Vedomosti report that before the New Year, Russian President Putin and Chinese President Xi Jinping will hold talks. A diplomatic source told Vedomosti about preparations for a conversation between the two leaders in late December. An interlocutor close to the presidential administration said that it is unlikely that the meeting will be face-to-face, rather it will be held via videoconferencing, but its "details are being worked out."
  • Russia’s budget surplus more than quadrupled in November despite the financial drain of the war in Ukraine, recording another month of improvement thanks largely to dividends and a windfall tax paid by Gazprom PJSC, Bloomberg reported yesterday afternoon. The fiscal surplus reached 557 billion rubles ($9 billion) in the first 11 months of the year, up from 128.4 billion rubles reported for January-October.
  • President Putin will take part by video-link in a ceremony to open new and reconstructed transport facilities while the Finance Ministry announces terms for Wednesday’s bond auctions. There are no major economic releases scheduled today.
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