SOVEREIGN ECONOMY: TOP EVENTS OF THE WEEK
30/06/2023, 10:00
The government is planning to replace Airbus and Boeing aircraft with the Russian Tu-214. Russian Prime Minister Mikhail Mishustin visited the S.P. Gorbunov Kazan Aviation Plant on Thursday during a working trip. During this visit, they held a meeting to discuss aircraft manufacturing and it was announced that the medium-haul narrow-body passenger aircraft Tu-214 production will be increased to 20 units per year by 2027, with an investment of 83 billion rubles.
The military uprising of the "Wagner" PMC caused strain on the Russian banking system. Major Russian banks significantly increased currency rates during the peak of these events, with the dollar surpassing 90 rubles and the euro reaching 100 rubles. Rosbank offered the highest rates, with 105 rubles for a dollar and 115 rubles for a euro. Once the conflict was resolved, the exchange rate situation stabilized.
Russian President Putin disclosed information about financing the private military company "Wagner." He stated that the state provided full funding to the company from the national budget. Between May 2022 and May 2023, the state disbursed 86,262 million rubles to the "Wagner" Company for salaries and incentives. During the same period, 110,179 million rubles were allocated for insurance payments. Additionally, "Concord," a company owned by Prigozhin, earned 80 billion rubles through food supplies to the military.
A Russian court has levied a fine of 4 billion rubles against Google. The Presnensky District Court in Moscow has imposed a fine on Google LLC, amounting to double the original sum, concerning an antitrust case brought by the Federal Antimonopoly Service (FAS) of the Russian Federation. Some experts believe that this decision is a response to the hosting platform's blocking of pages belonging to Russian TV channels.
A bill has been proposed to the State Duma, aiming to relieve commercial banks from the responsibility of repaying mortgage loans in the event of a serviceman's death during a "Special Military Operation". This transfer of financial burden has resulted in a substantial increase in risks for creditors and necessitated the creation of additional reserves.
