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The main events by the morning: April 5


April, 05 2024
watermark Economic news

  • The IMF urges global companies and major exporting countries to prepare for the abandonment of oil. Key trends: the development of electric vehicles, renewable energy sources and accelerating the abandonment of «dirty fuel». 


  • Legal piracy: foreign patents will be imported into Russia by parallel import.  This is necessary to ensure the public interest and national security interests. A special sub-commission will deal with the implementation of the measure. 


  • Israel went on full alert due to fears of a response from Iran for the attack on the consulate. The reason is the recent attack on the Iranian consulate in Syria. An air defense system has been deployed, reservists have been mobilized, and military vacations have been canceled.


  • The price of Brent crude oil exceeded the mark of $91 per barrel. Two main factors continue to influence the global oil market. First, attacks on Russian refineries can lead to supply problems. Secondly, tensions between Israel and Iran could also disrupt supply chains in the region. 


  • Japan has expanded export restrictions against Russia. The Japanese Ministry of Economy has announced a ban on the export of 164 categories of goods to Russia. The restrictions will come into force on April 17th. Among them are mineral fuels and oils, nitrocellulose, steel products, electrical equipment, photographic equipment and other goods. Also, from May 10, Japan will stop importing Russian unassembled diamonds.


  • Russians have become five times more likely to be interested in the yuan exchange rate. However, the most popular currencies for exchange rate requests, despite their «toxicity», are still the dollar and the euro. The Chinese currency took the third place in the list of popular currencies, shifting the Turkish lira to fifth place. The Swiss franc is in fourth place.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.