Market updates and forecasts

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The main events by the morning: October 4


October, 04 2024
watermark Economic news

  • Diamond exports from Russia may decrease by 17%, reaching $3.19 billion. This is facilitated by a decrease in demand and low world prices. In 2023, according to the Kimberley Process, Russia has already reduced diamond exports by 12%, to 32.4 million carats, while the cost of supplies decreased by 7.7%, to $3.7 billion. However, analysts note that after two years of falling diamond prices have stabilized, and ALROSA sees prerequisites for their increase.


  • In September, Russia became the second largest supplier of gas to Europe, despite sanctions and the desire of EU countries to reduce dependence on Russian energy resources. In the third quarter, the country exported 8.6 billion cubic meters of pipeline gas and 4.7 billion cubic meters of LNG. The United States, which ranked third in terms of supplies, reduced gas exports to Europe by a third to 9.5 billion cubic meters.


  • Commercial banks in Russia will be allowed to block suspicious transactions with the digital ruble. The State Duma is promoting an initiative that will extend the rules for combating money laundering and terrorist financing to participants of the digital ruble platform. These measures are aimed at preventing the legalization of criminal proceeds.


  • Oil and gas revenues of the Russian budget in September reached 772 billion rubles, which is above the baseline level. The Finance Ministry also said that additional revenues from the oil and gas sector are expected in October.


  • Raiffeisenbank is being claimed by two large buyers who are at the most advanced stage of negotiations. Talks about the sale of the «daughter» of the Austrian Raiffeisen Bank International group have been underway since the spring of 2022. However, now, in addition to fulfilling the requirements of various regulators, the arrest of the bank's shares as collateral for the claim of the Moscow State Unitary Enterprise Rasperia has been added, which complicates the situation and lengthens the terms of a potential transaction.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.