Russia’s foreign currency reserves have continued to grow, surpassing $593 billion as of December 22, the country’s central bank has reported.  Statistics show the volume of international reserves increased by $5.5 billion, or 0.9%, in the week from December 15, largely due to “a positive market revaluation.”

Iran and Russia have officially abandoned the US dollar for mutual settlements after the countries finalized an agreement to trade in the ruble and the rial, Iranian news agency IRNA reported this week. The agreement was sealed during a meeting in Russia between the heads of the central banks of the two countries, the outlet said.

Russian natural gas production has continued to grow in annual terms for the fourth month in a row in November, reaching nearly 60 billion cubic meters, business daily Kommersant reported this week, citing official data.