Ruble Is Elephant In Room as Russia Invokes Inflation Threat

Russia’s central bank Governor Elvira Nabiullina cited the threat of inflation as she warned future interest-rate cuts would be smaller and fewer. Economists see a different reason: the ruble.

Russia Pulls Biggest Bank License of Year Over Dubious Transfers

Russia’s central bank revoked the license of OAO Master-Bank, a retail lender where President Vladimir Putin’s cousin serves on the board, after accusing it of repeatedly breaching money laundering laws.