Russian President Vladimir Putin takes part in a news conference after an EU-Russia Summit in Brussels January 28, 2014. Putin said on Tuesday it would honor its obligations to lend Ukraine $15 billion and reduce its gas prices even if the opposition formed the next government. REUTERS/Yves Herman
Russia’s central bank just hiked interest rates to 13% to lower inflation and prop up the ruble.
Central bankers have raised their inflation forecast for the year to 7.5% well-above the targeted 4%.
Meanwhile, the ruble is trading close to a 16-month low against the dollar.
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/cloudfront-us-east-2.images.arcpublishing.com/reuters/JJATNLAJ75N6HCIVMKGWCFZNAA.jpg "More than a quarter of US Senate calls on Russia to release US reporter 5")
