... BRICS currency highlight the growing importance of economic independence for developing nations. When the financial influence of the U.S. can directly impact other countries, there’s a need to explore alternative financial tools. For industries like oil and gas, diversifying currency risks can be a strategic advantage. At Open Oil Market, we’re closely monitoring these developments, as adapting to these changes is crucial for resilience and growth in the global market." Putin’s recent statements ...

... billion , for a total of $10.3 billion; supported by rising aluminum prices and export supplies. Suleiman Kerimov – added +$2.6 billion , bringing wealth to $9.6 billion; a key factor was the revaluation of gold mining assets. 4. Resource Giants: Oil & Gas and Mining Classic resource sectors continued to generate superprofits for their owners: Vladimir Potanin – +$2.5 billion , totaling $30.4 billion; a positive trend was aided by a nickel shortage in the global market. Alexey Mordashov – +$2 billion ...

... When a country experiences economic difficulties, such as high inflation, political or geopolitical crises, the state's foreign exchange reserves can decrease, and the demand for the ruble falls. Low prices for export goods: Russia, as an exporter of oil and gas, is faced with the fact that when prices for these resources fall, the inflow of currency into the country decreases. As a result, the ruble exchange rate falls. Central Bank Policy: Sometimes the Central Bank may deliberately devalue the ruble to ...

... Preliminary GDP for Q3 2024, Trade Balance for October, and Personal Consumption Expenditures (PCE) Price Index for October. 15:45 GMT: U.S. – Chicago PMI for November. 16:00 GMT: U.S. – Pending Home Sales for October. 16:30 GMT: U.S. – EIA Natural Gas Storage Report. 17:00 GMT: U.S. – Baker Hughes Oil Rig Count. ECB Speech: Lane from the ECB is scheduled to speak. Impact on U.S. and Europe: The release of U.S. GDP and PCE data will provide insights into economic growth and inflation, influencing Federal Reserve policy expectations. German consumer climate data can affect the euro and European market sentiment. Thursday, November ...

... the market as part of its budgetary regulations, positively impacting currency supply. Tax Period During this time, exporters traditionally sell currency to pay taxes, increasing demand for rubles. Rising Commodity Prices The increase in the prices of oil, gas, and gold — Russia's main export commodities — supports currency inflows and strengthens the ruble. High Interest Rates The attractiveness of ruble-denominated assets for investors remains high due to significant interest rates. Restrictions on Currency ...