The International Monetary Fund (IMF) expects a price cap imposed by Western countries on the volume of Russian oil exports to have little impact, according to the IMF’s World Economic Outlook update.

Prime Minister, Eng. Hussein Arnous has inaugurated a number of agricultural, service, developmental, educational and industrial projects in Deir Ezzor province, after they were rehabilitated.

Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week’s gains on the prospect of an economic recovery in top oil importer China this year.

The dollar fell by 12.75 kopecks to 68.7 rubles at the opening of trading on the Moscow Exchange on Monday.

The areas cultivated with the wheat crop in Hama central province have mounted to about 90 thousand hectares, from the beginning of the cultivation operations to date.

The euro currency exchange rate against the ruble dropped by 15 kopecks to 74 rubles compared with the previous closing as Monday trading opened on Moscow Exchange.

With the return of 168 industrial facilities and crafts, and after the rehabilitation of most of the facilities and infrastructure, life and production began to return to the industrial zone in Deir Ezzor.

The Syrian engineer Bilal al-Issa designed a home automation system that controls all electrical equipment in an easy and simple way in a way that is of significant importance to people of special needs and disabilities.

Gold prices rose on friday supported by the weakness of the dollar, while investors prepared for important inflation data in the United States and the Federal Reserve’s decision next week regarding raising interest rates.

Europe will have to search for replacements for Russian oil and pay higher prices after introducing a price cap, Cui Heng, an assistant research fellow at the Center for Russian Studies of East China Normal University, told the Global Times newspaper.

Russian oil has always been in demand in the world market and will always have buyers, given the growth in the economy and limited supply, Deputy Prime Minister Alexander Novak said.

Russia’s crude production increased by 2.2% in January-November 2022 to 488 mln tonnes, Deputy Prime Minister Alexander Novak told reporters.

Gazprom supplies gas for Europe through Ukraine in the volume of 42.4 mln cubic meters per day via the Sudzha gas pumping station, a Gazprom representative told reporters, adding that the request for pumping through Sokhranovka had been rejected by the Ukrainian side.

The euro fell below 62 rubles for the first time since November 14 on the Moscow Exchange on Monday.