S&P cuts Russia's credit rating over Ukraine April 25, 2014 - 10:39 AMT PanARMENIAN.Net - The Standard & Poor's credit agency has cut Russia's credit rating from BBB to BBB-, citing the capital flight and risk to investment in the wake of the Ukraine crisis, the Associated Press reports. Credit ratings are important for the economy because they determine how expensive it will be for a country or company to borrow on international markets. The cut in Russia's rating is the most tangible economic result of Russia's policies toward Ukraine so far. Moscow in March recognized a hastily called referendum in Ukraine's Black Sea peninsula of Crimea and annexed it weeks later, attracting condemnation of the West as well as sanctions targeting individuals. Secretary of State John Kerry on Thursday, April 24, warned Moscow that unless it took immediate steps to de-escalate the situation, Washington would impose additional sanctions. Related links:   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Erdogan wants “realistic road map” for relations with Armenia  Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia.Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements.Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of ArmeniaHenrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |
