Template-Type: ReDIF-Article 1.0
Author-Name:Sergey Zhavoronkov
Author-Name-First:  Sergey 
Author-Name-Last: Zhavoronkov
Author-Workplace-Name:  Gaidar Institute for Economic Policy
Title:  THE POLITICAL AND ECONOMIC RESULTS OF JULY 2015
Abstract:  In July 2015, the SCO and BRICS held their simultaneous summits in Ufa. The main result of those summits was
the conclusion of agreements on the creation of the BRICS contingent reserve and the establishment of the New
Development Bank. Another major event of July was the so-called Iran Nuclear Deal which opened the way for
Iran to return to the international oil market in 2016. The litiing of oil sanctions imposed on Iran is expected to
put new downward pressure on oil prices. In a separate development, the Constitutional Court of the Russian
Federation ruled that the initiative to hold the next parliamentary elections three months early (in September
2016 instead of December 2016) did not violate the RF Constitution. Also, the RF Constitutional Court ruled that
decisions of the European Court of Human Rights should be upheld only when they do not contradict Russia’s
basic law, thus making itself the fi nal arbiter on whether or not such decisions should be upheld in Russia. Also
in July, Russia abolished the Ministry for Crimean Aff airs and the Federal Tariff Service. The Ministry was transformed
into a government commission, while the Tariff Service was made part of the Federal Antimonopoly
Service (FAS).
Classification-JEL:  K0,  K1,  K4,  D73,  D74 
Keywords:   Russian Economy
Journal: Russian Economic Developments
Year: 2015
Issue: 8
Month: August
Pages: 2-5
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/562Zhavoronkov.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:562