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. Last Updated: 07/27/2016

For the Record

The ruble may strengthen to 24 or 25 per dollar by the end of the year if oil prices stay at current levels and capital inflows resume, Deputy Economic Development Minister Andrei Klepach said Tuesday, adding that the currency's gain could hurt farmers and industry.

Russia will peg its export tariff for nickel — currently fixed at 10 percent — to the metal prices on the London Metals Exchange, according to a government order seen by Reuters on Tuesday, with the tariff set on a quarterly basis and applying if the nickel price is equal or above $12,000 per ton.