Russia recorded a budget deficit of more than 3 trillion roubles for the third year running in 2024, the finance ministry said on Monday, with both spending and revenue rising sharply compared with 2023 as Moscow ploughed economic resources into the war in Ukraine.

Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

WASHINGTON (Reuters) -President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.

U.S. President-elect Donald Trump's nominee for Treasury secretary said on Thursday that the dollar should continue to be the world's

Russia could run out of liquid reserves as soon as this fall, one European economist has said. The nation's liquid reserves have dwindled to $31 billion, down from $117 billion in 2021. Limited ...

US President-elect Donald Trump's pick for treasury secretary, Scott Bessent, took part in a confirmation hearing with lawmakers on Thursday. He said additional sanctions on Russia could be imposed to help end the war in Ukraine.

Russia will not allocate federal funds to equip civilian airports with anti-drone systems as initially expected, pro-Kremlin publication Vedomosti reported on Jan. 12, citing two undisclosed sources.

The West has frozen $300 billion of Moscow’s assets, but Europe has stood in the way of using them.

Global markets mostly retreated on Monday after traders trimmed bets on US Federal Reserve rate cuts and oil extended a rally sparked by new sanctions on Russia's energy sector. Equities had tumbled Friday following strong US jobs data that traders viewed ...

Mr Scott Bessent is a hedge fund manager and founder of Key Square Capital Management. Read more at straitstimes.com.

Energy producers have rushed to lock in oil prices since the United States announced its harshest sanctions yet on Russian energy trade on Friday, which sent oil prices surging to multi-month highs, market participants said.

U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut.