Russian Deputy Foreign Minister Alexander Pankin announced that President Vladimir Putin has received an official invitation to the G20 summit, scheduled for December 14–15, 2026, in Miami, USA. This invitation creates a significant stir, given the U.S.’s status as an “unfriendly country” and the standing ICC arrest warrant for the Russian president.
Key Details:
- Official Invite: The Foreign Ministry confirmed a request for presence “at the highest level.”
- Kremlin’s Stance: Press Secretary Dmitry Peskov stated that no decision has been made regarding the trip. Diplomatic signals remain cautious: “God only knows what will happen before then,” Pankin remarked.
- Attendance History: Putin has not attended a G20 summit in person since 2019. Since 2022, Russia has typically been represented by Sergey Lavrov or other high-ranking officials.
Currency Maneuver: Ministry of Finance to Buy Yuan to Curb Ruble Strength
The Russian Ministry of Finance is returning to foreign currency purchases under the budget rule for the first time in a year. The goal is to prevent the ruble from strengthening excessively and to replenish the depleted National Wealth Fund (NWF).
Economic Context:
- Oil Windfall: Due to tensions in Iran, Urals oil prices have surged to $100 per barrel, far exceeding the budget’s “cutoff price” of $59.
- Revenue Surge: In April, oil and gas revenues are expected to rise by 38% (to 850 billion rubles).
- Currency Imbalance: The dollar has dipped below 75 rubles, while the government’s budget was planned around a 92-ruble exchange rate.
May Operations: Experts estimate the Ministry will allocate between 300 and 400 billion rubles to purchase currency (primarily yuan) and gold. Markets reacted instantly, with the dollar and yuan gaining approximately 1% following the announcement.