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Russian ruble to become major currency in People's Republic of Luhansk

2015/09/01

Source: Pravda.Ru photo archive

The Russian ruble has become the basic currency in the People's Republic of Luhansk on September 1, 2015.

According to RIA Novosti, the head of the Council of Ministers of the Republic, Gennady Tsypkalov, previously explained that the decision had been made because of the economic blockade, in which the republic continues to live because of the Kiev government.

According to the official, the People's Republic of Luhansk still uses a multicurrency system: the Russian ruble, the Ukrainian hryvnia, the dollar and the euro remain in use, but the Russian ruble will be the dominating currency in the republic.

The payment of wages, pensions and social benefits will be carried out in Russian rubles with no peg to the Ukrainian currency. Previously, the calculation was based on the rate of two rubles for one hryvnia. Planning, budgeting, financial and tax reporting will also be formed in rubles.

In August, the share of the Russian ruble on the currency market of the self-proclaimed People's Republic of Luhansk made up about 85%.

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US considers imposing sanctions on Russian and Chinese hackers

2015/09/01

US considers imposing sanctions on Russiaт and Chinese hackers. Chinese hackers attack US

The US authorities are considering an opportunity to impose sanctions on Russian and Chinese individuals and companies suspected of cyber attacks on US firms.

For the time being, the United States has not taken a final decision on the imposition of sanctions that could either aggravate the relations with Russia or mar the state visit of Chinese President Xi Jinping to the US in September, Pravda.Ru reports with reference to Reuters.

According to TASS, the sanctions that Washington is currently considering are not related to the hackers who are suspected of hacking into the government data of the United States. Restrictions are likely to be imposed on foreign nationals and companies, which the US considers responsible for hacking and accessing the data of commercial companies.

According to Reuters, these restrictive measures can deprive them of access to the US financial system, which, in turn, can be regarded as a "death sentence for a serious company."

A year ago, several American newspapers, including The New York Times and The Wall Street Journal, wrote that Chinese hackers attacked their computer systems. China's Foreign Ministry spokesman said that such accusations were "not serious."

Pravda.Ru

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Also read: China: From Hu to Xi

Anonymous hackers will not tolerate failure

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Putin says dump dollar

2015/09/01

Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.

This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.

“This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.

The bill would also help to facilitate trade in the region and help to achieve macro-economic stability.

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Within the framework of the Eurasian Economic Union (EEU) the countries have also discussed the possibility of switching to national currencies. According to the agreement between Russia, Belarus, Armenia and Kazakhstan, an obligatory transition to settlements in the national currencies (Russian ruble, Belarusian ruble, dram and tenge respectively) must occur in 2025-2030.

Today, some 50 percent of turnover in the EEU is in dollars and euro, which increases the dependence of the union on countries issuing those currencies.

Outside the CIS and EEU, Russia and China have been trying to curtail the dollar’s dominance as well.

In August, China's central bank put the Russian ruble into circulation in Suifenhe City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble was introduced in place of the US dollar.

In 2014, the Russian Central Bank and the People’s Bank of China signed a three-year currency swap agreement, worth 150 billion yuan (around $23.5 billion), thus boosting financial cooperation between the two countries.

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US afraid of Russian military's activity in the Arctic

2015/09/01

Source: Pravda.Ru photo archive

The US Department of State claimed that America is afraid of Russian military's activity in the Arctic.

The US State Department spokesman Mark Toner claimed on 31 August that it should be discussed within the cooperation with other countries of the region.

Pravda.Ru reported that Russia has taken to more active exploration of its Northern territories for the last year, including hydrocarbon extraction and development of the Northern Sea Route, which is to become an alternative to traditional routes from Europe to Asia.

Russia intents to defend its interests with a range of measures, including those of military nature. In 2014 President Putin claimed that a single system of vessels and new age submarines should be created in the Russian part of the Arctic.

Also read: Indifference to Arctic will cost more

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‘Better than Facebook!’ Egyptian cleric suspended for altering dawn prayer call

2015/08/31

Egyptian religious authorities have suspended a muezzin from Beheira province from duty after local villagers accused the religious figure of intoning “prayer is better than Facebook” in his early morning call for prayer.

Mahmud al-Moghazi, who has denied uttering those words, stands accused of referencing Facebook twice during the dawn prayer last week, changing the verse which originally says “prayer is better than sleep.”

After being refereed by the local villagers to the Ministry of Awqaf, or religious affairs, the clerics body confirmed Moghazi’s suspension.

“The case will be referred to the prosecution service which will see that the law is applied,” Ministry official Sabri Ebada told AFP.

As the ministry continues their investigation, Moghazi denounced the accusations as “lies” during his appearance in one of country’s talk shows on Sunday. With 16 million users, Egypt is one of the world’s top 20 Facebook-engaged societies, but muezzin denied even knowing how this word is spelled.

“I don't know what Facebook is and I don't know how it is spelled,” he swore, blaming the banned Muslim Brotherhood followers of plotting to discredit him. He accused the group of trying to hold protests and organize unlicensed Islamic lessons at the local mosque.

The muezzin claimed that the Brotherhood wanted to get him “out of the mosque,” adding that he had begun a hunger strike in protest against his treatment. “I forbid any group to use the mosque, I forbid unauthorized courses,” he said.

The Brotherhood was declared a terrorist organization by the Egyptian state months after Islamist president Mohamed Morsi’s toppling by the army in 2013. The group members have faced a multitude of terror-related charges and convictions ever since.

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