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RUSSIA: Closed-Door Espionage Trial of US Reporter Begins

RUSSIA
  • Imprisoned Wall Street Journal reporter Evan Gershkovich appeared in a Russian court Wednesday at the start of an espionage trial, Bloomberg report. It adds that Gershkovich is facing almost certain conviction, which could end up paving the way for an eventual swap as Russian officials have said talks on a possible exchange deal could only take place after a court verdict.
  • Consumer lending growth accelerated in May, with banks' cash loan portfolio growing 2% to RUB 14.7trln after increasing by 1.8% in April, central bank data showed as cited by Kommersant. But despite the general trend, the largest foreign-owned banks, Raiffeisenbank and Unicredit, continue to steadily reduce lending activity.
  • Industrial production figures for May (Est: +2.3% Y/Y; Prior: +3.9%) and weekly CPI data is on the docket at 17:00BST/19:00 local time.
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