Economy of Russia

The anti-terrorism squad arrested two people on Thursday as part of its ongoing investigation into an alleged plan to help members of the urban guerrilla group Conspiracy of the Cells of Fire escape from jail.

Officers arrested a 27-year-old man, thought to be an Albanian national, and his 24-year-old wife.

Greece's energy minister said on Tuesday that major Russian firms will take part in a Greek tender for deep-sea oil and gas exploration, after the cash-strapped country extended the bidding process by two months.

Russia?s Gazprom Neft, the oil arm of gas producer Gazprom, has asked the government for 198 billion rubles ($3.3 billion) in financial aid, the daily Kommersant reported on March 6.

Ever since Moscow was hit by sanctions over the Ukraine crisis, Russian companies have struggled to raise financing because Western markets are largely closed to them.

Russian firearms maker Kalashnikov Concern aims to concentrate on its markets in the Middle East and Africa and diversify its product range to offset the impact of Western sanctions, its chief executive has said.

Customs police at Athens International Airport on Monday confiscated a cardboard box containing a Kalashnikov assault rifle which appeared to be a collector?s item, a non-operational weapon.

The weapon had been carefully wrapped in aluminum foil in an apparent bid by the sender to get it through the airport?s X-ray machine, according to a statement by authorities.

Bulgaria will not allow to be unnerved and destabilized by Russia, President Rosen Plevneliev has said.

In an interview with Czech daily newspaper Lidove Noviny published last week Plevneliev said that Bulgaria is worried to see elements of "unconventional and asymmetric conflicts'' being demonstrated not far away from its borders.

Russia's economy ministry said on Jan. 31 it expected gross domestic product to fall 3 percent this year, more optimistic than many analysts' forecasts of a 4-5 percent drop.

The Turkish Lira tumbled to a new record low today, down to 2.426 against the dollar upon the expectation of a forthcoming rate cut by the Central Bank and the Fed's announcement of a positive trend in the U.S. economy.

Banking authorities also say the rise in the U.S. dollar has triggered the surprising rate cut by the Russian Central Bank today.

Russia's gas giant Gazprom on Jan. 29 said its third quarter profits plunged 61 percent as supplies were suspended to Ukraine, one of its main customers.

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.