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Russia to appeal against US, EU sanctions to WTO

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Russia is planning to appeal to the World Trade Organization (WTO) over anti-Moscow Western sanctions, Russian Economy Minister Aleksey Ulyukaev has said. “The latest round of sanctions provides grounds to appeal to the WTO. And we will appeal,” Ulyukaev told reporters on Friday. The Russian minister also warned that Russia’s response to the new sanctions... 

US-Russia political tensions will speed up demise of dollar

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An American economist says the political tensions between Washington and Moscow will speed up the demise of the US dollar in international transactions. “The political tensions between the United States and Russia has increased or speeded up the process of which nations are doing business between countries instead of dollars and doing it with their local... 

Argentina Congress OKs law restructuring debt payments

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The Argentinean Congress has adopted a new law enabling Buenos Aires to pay back the country’s debts to US creditors, sidestepping an earlier US court ruling in favor of the bondholders. On Thursday, the lower house of Argentina’s Congress unanimously voted in favor of the new debt restructuring plan which allows the government to make debt payments inside... 

Moscow to give ‘appropriate’ response to new EU sanctions

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Building of the Russian Ministry of Foreign Affairs on Moscow’s Smolenskaya-Sennaya Square. Moscow will take “appropriate measures” in response to possible new sanctions from the European Union, the Russian Foreign Ministry’s spokesperson said. “On many levels, the Russian leadership has made it clear that we’ll take adequate measures and... 

US to ratchet up sanctions on Russia

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US President Barack Obama has announced plans to ratchet up sanctions on Russia over Moscow’s “illegal actions in Ukraine”. Obama said in a statement on Thursday the United States and the European Union will slap tougher sanctions on “Russia’s financial, energy and defense sectors”. He said the new sanctions are meant to further isolate the... 

​Argentina to get $1 billion in currency swap with China before end of 2014

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Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy’s foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina’s President Cristina Fernandez de Kirchner and Chinese counterpart Xi Jinping... 

EU poverty conference held in Brussels

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A conference to discuss the status of poverty in the European Union has been held in the Belgian capital Brussels, Press TV reports. The conference gathered over 700 politicians, academics and rights campaigners to discuss the EU’s ongoing economic crisis focusing on unemployment and social exclusion. EU governments, institutions and structures were criticized... 

EU adopts fresh Russian sanctions

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The European Union has formerly adopted a fresh package of sanctions against Russia despite Moscow’s retaliation warnings. European Council President Herman Van Rompuy announced the sanctions on Monday saying that their implementation will take place over the next few days. Referring to the ceasefire deal between pro-Russian activists and the Kiev government,... 

Soros Signals Argentina’s Shale is Biggest Place to Be

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One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize and a big boost for both supermajors and smaller players making big waves in the heart of new discovery areas. George Soros has doubled his stake in YPF SA, the... 

​Russia suspends all confectionery imports from Ukraine

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Russian consumer watchdog Rospotrebnadzor has suspended all confectionery imports from Ukraine after discovering two Ukrainian companies broke consumer protection laws. “In order to ensure the rights of consumers, starting September 5 Rospotrebnadzor is suspending the import of confectionery goods produced in Ukraine to the Russian Federation,”... 

Obama readying new sanctions on Russia despite truce in Ukraine

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United States President Barack Obama said Friday that the US and European Union are still prepared to impose sanctions against Russia if the crisis in Ukraine continues to escalate following the signing of a ceasefire agreement. Speaking in Newport, Wales at the close of a major NATO alliance summit, Pres. Obama expressed skepticism over a pact signed only... 

​Australia imposes new round of sanctions against Russia

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The Australian government on Monday unveiled further sanctions against Russian oil and gas, financial and defense sectors, bringing Canberra in line with the European Union. Under the new sanctions there will be no new arms exports and no new exports for the oil and gas industry, Prime Minister Tony Abbott told the Australian parliament. In addition, Russian... 

Australia’s Qantas airline reports $2.6 billion loss

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Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss of about 700... 

McDonald’s falls victim of US-Russian economic war

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Having closed several McDonald’s restaurants in Moscow, Russia’s Federal Service for Consumer Rights Protection (Rospotrebnadzor) launched unscheduled inspections of the restaurants of the chain in the Sverdlovsk region of Russia. According to representative of the agency, their actions are connected to complaints from local residents about the... 

US-EU sanctions on Russia counterproductive

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A political analyst says the tightening of sanctions by the United States and the European Union (EU) against Russia is “counterproductive,” Press TV reports. In an interview with Press TV, Jan Oberg said the US-EU move to impose sanctions against Russia over the Ukrainian tension is “self-defeating” as it harms the economy of the West as well. “I... 
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