Anton Siluanov

President Vladimir Putin and Greek Prime Minister Alexis Tsipras discussed plans on Friday for a pipeline to carry Russian gas to Europe via Turkey and agreed to meet in Russia in two weeks, the Kremlin said.

It said the two leaders, who spoke by telephone, would meet at an annual business conference taking place in Russia's second city of St Petersburg on June 18-20.

Taking care of pensioners who are his bedrock of support has been a key feature of President Vladimir Putin's rule, but as crisis bites, the Russian government is mooting an idea that has been taboo for 80 years: Raising the retirement age.

The meeting between Russian President Vladimir Putin and Greek PM Alexis Tsipras in the Kremlin lasted about two hours.

Shortly after 13:30 EET, the Russian president received Alexis Tsipras with a warm handshake. Their meeting was concluded shortly before 16:00 pm EET.

Prime Minister Alexis Tsipras is due to meet Russian President Vladimir Putin in Moscow Wednesday in the hope of reviving economic cooperation between the two countries.

The US rating agency Standard & Poor's (S&P) has downgraded Russia's credit rating to junk, which is below investment grade.

Russia's credit rating has been lowered to such a level for the first time in a decade, Bloomberg reports.

Having a rating of BB+, Russia is on a par with Bulgaria and Indonesia, which makes it difficult for Moscow to borrow money from investors.

Russia said its currency crisis was over on Dec. 15 but warned that inflation is set to climb above 10 percent, adding to the problems facing President Vladimir Putin's government as it fights its worst economic crisis since 1998.
   

Russian President Vladimir Putin is due to address both chambers of the country's legislative body, the Federation Council and the State Duma.

This year his annual event comes amid tough times for the Russian economy partially caused by Western sanctions and also after a surprising decision to end the South Stream project.

Russia is set to lose around $40 billion (32 billiUon euros) per year due to Western sanctions over the Ukraine conflict, Finance Minister Anton Siluanov said Monday.
      

Russian Finance Minister Anton Siluanov has announced Moscow and Beijing are to jointly establish a rating agency.

Siluanov explained the new body will first be used for assessing bilateral Russian-Chinese projects, but could later provide services to third countries.

International payments systems Visa and Mastercard are to continue operating in Russia following a new agreement with Moscow, media reports suggest.

Russia's daily Kommersant argues that most arrangements were made around the International Economic Forum in Saint Petersburg.