Wednesday, December 24, 2014

Russian central bank wants to help companies with foreign exchange – tagesschau.de

Russian central bank wants to help companies with foreign exchange – tagesschau.de

Date: 12/24/2014 14:15 clock

In order to mitigate the impact of the ruble crash, the Russian Central Bank has agreed to financially support large companies with high foreign debt under the arms. The Institute will put dollars and euros available if the company in return deposited their loans as collateral. This assumes the central bank de facto risks

Total Russian state companies, banks and private companies in the foreign debt of around $ 600 billion -. About 100 billion dollars of it in the coming year due , By sanctions the EU and the USA, as well as by the depreciation of the ruble Russian banks and companies will have problems with the refinancing of loans. Some of them have the Western debt market can no longer access.



forex sales to rubles based

Yesterday, the Russian government five of the largest state-owned prompted companies to take a portion of their foreign exchange reserves to market. According to the Russian business newspaper “Kommersant” it could go to a total of 50 billion US dollars (41 billion euros).

Before approximately one week had the central bank already the base rate to 17 raised percent to make investments in rubles attractive and reducing capital flight.

dispute ships from France

Meanwhile, urged the Russian Government of France, the reimbursement of advance payments for two large ships for landing operations. France must fulfill the contract, the Secretary of Defense, Anatoly Antonov told the Interfax news agency. “. All modalities such as delivery date, penalties and procedures are set us is a repayment,” he said

The French government had -. Also under pressure from Western allies – the delivery of “Mistral” ships put on hold because of the Ukraine crisis. The shop has a financial volume of about 1.2 billion euros. France rejects the complete cancellation of the contract because it fears negative consequences for other defense projects.

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