The presidents of Russia and Turkey met in Baku, the Russian ruble is on a weakening trend and Russia introduced the world’s most affordable helicopter.
Video by Vladimir Stakheev
Ruble weakens on Central Bank intervention
The Russian Central Bank pushed the ruble down after the currency experienced a boost in value earlier this year. After strengthening to less than 50 rubles per dollar in May, the Central Bank announced its plan to replenish foreign exchange reserves by buying $200 million per day. Since May 13 the Central Bank bought about $3.5 billion, which contributed to the ruble depreciating to around 55 per dollar. The risk of possible military escalation in Donbas also played a role. According to analysts from Alfa Bank, as well as Russia’s Economic Minister Alexei Ulyukayev, a weaker ruble can create some long-term benefits for the Russian economy.
Russia and Turkey discuss future energy cooperation
Russian President Putin and Turkish President Erdogan met behind closed doors in Azerbaijan’s capital, Baku, on the sidelines of the First European Games opening ceremony. Parties discussed energy cooperation, particularly the Turkish Stream project and the construction of the Akkuyu nuclear power plant. The presidents also exchanged views on major current international issues, including the situation in Ukraine. This was the first personal meeting of the two leaders since Erdogan expressed his public discontent with Putin`s remarks during the commemoration of the 100th anniversary of the Armenian Genocide.
Russia debuts world’s most affordable helicopter
Debuting at the 2015 HeliRussia exhibition, the Russian rotorcraft company HeliWhale introduced what they called “the most affordable helicopter on the market.” According to Yakov Kolesnikov, HeliWhale’s general director, each machine is expected to cost about $120,000, which is less than half the price of its American competition, the Robinson R-22. The lightweight, coaxial helicopter runs on auto fuel and seats two passengers including the pilot, and is expected to go into production in 2016.