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Siluanov to Speak at Meeting of BRICS FinMins, CenBank Governors

RUSSIA
  • Finance Minister Anton Siluanov will speak at a meeting of finance ministers and central bank governors of the BRICS countries in Sao Paulo.
  • Prime Minister Mikhail Mishustin approved a ban on gasoline exports for six months starting on March 1, a source familiar with the decision told RBC. According to the sources, a decision was also made to increase the standard for diesel sales on the stock exchange to 16%. “In order to level out the rush demand for petroleum products, it is necessary to take measures to help stabilize prices on the domestic petroleum products market,” Novak suggested.
  • Bank lending to small and medium businesses in Russia surged by almost 40% to a record RUB 15.9trln in 2023, the Central Bank reported. The portfolio of such loans grew by almost 30%, however, growth is expected to slow dramatically in 2024 as banks' interest in this segment is declining, Vedomosti write.
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