The main events by the morning: May 14

• The policy of the Central Bank of the Russian Federation is becoming more and more stringent. In its report yesterday, the Bank of Russia announced a possible increase in the «neutral rate». This rate indicates the end of a period of severe restrictions in the economy. Currently, its level is 6-7%, but experts believe that in 2024 the Central Bank may raise it to 7-8%. This will lead to loans becoming less affordable.

• Biden signed a law banning the import of uranium from Russia to the United States. The US rejection of Russian uranium will harm the American economy more than the Russian one, Russian Ambassador Antonov believes. He noted that Washington's «green» projects may fail after the ban on Russian nuclear fuel.

• Russian aluminum stocks on the London Metal Exchange fell by more than 60% in April. After the imposition of sanctions against Russian non-ferrous metals on April 12, the LME and the Chicago Stock Exchange can no longer replenish stocks of raw materials at the expense of the Russian Federation. Within a month, there may be no reserves of Russian origin left on these exchanges.

• China has become India's main trading partner. In the 2023-2024 fiscal year, bilateral trade between the countries amounted to $118.4 billion. China sent $101.7 billion worth of goods to India (+3.24%), India – $16.67 billion. Despite political differences, trade relations between the region's largest economies continue to develop.

• In Europe, the main gas supplier has changed – now it is not Gazprom. The Norwegian company Equinor now provides 30% of gas consumption in the European Union. For comparison, Gazprom previously had a 35% stake. Equinor has become a key player in the regional market, exporting $130 billion worth of gas to the EU in 2022.