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This article explains how the recent stand-off crisis in Ukraine is having a negative effect on the Russian economy, with the Rouble taking a further fall and GDP growth estimates being revised downwards. Predictably sanctions imposed by the west on Russia in response to the occupation of Crimea, an autonomous region of Ukraine populated largely by ethnic Russians, have affected businesses in Russia. We learn from the article that some $60 billion valuation has been lost by Russian companies in light of the tensions. This article relates to the macroeconomic concept of circular flow being a complex process with international trade and governments being involved majorly in proceedings.

This article is about free trade, as Kiev and Brussels will launch a free trade zone, only if Russia violated the Brussels agreements on implementation of the Ukraine- European Union Association Agreement. 

The recent fall in oil prices, largely due to America's newfound dominance in the market, will cause Russia to experience a balance of payments deficit, according to this article from the Guardian. This is based on Russia's overestimate of the forecast for the global oil price and can be said to be an example of how global prices often influence balance of payments for countries, especially when it concerns national resources.

This article is very interesting with regards to one of this week's topics: import substitution. The concept of import substitution is often applied to LEDC's, reducing their dependancy on foreign imports and improving domestic output. However, this article is about Russia, who is adopting import substitution in response to deteriorating political relations with other nations. The Ministry of Industry and Trade wishes to minimise dependancy on imports from abroad, conjointly limiting the manipulating power of foreign nations.

The article concerns over the depreciation of the Ruble over the recent months that have passed. It was predicted that the Ruble would reach approximately 32.86 Rubles to the US dollar. However last month (November 1st to be exact), the Ruble reached a staggering 43 rubles to one US dollar. Being a 30 percent increase before the predicted depreciation. It has depreciated so suddenly and so quickly that the value is being measured, monitored, and shown by the minute rather than the day. Thus creating panic.

Despite the Russian Central Bank's spending of $40 billion over the last two months, the ruble has been significantly dropping for weeks. The price of 1 USD was 32.86 rubles in January, but is now 43 rubles, a drop of over 30%. Food prices in Russia have sky rocketed, dairy and meat costing over 10% more.

This is an article on how Russia's central bank will address the sharp oil price drop. This article relates to what we are doing because it talks about the strategy of the Russian central bank. the central bank is a key tool for the monetary policy, which we are covering right now. Also this article briefly mentioned balance of payments, and the negative consequences of the bank failing to address this issue. It was a very interesting read.

This article is about the Russian-dominating bloc, and how it affects trade and economies. 

Nizhny Novgorod Governor Valery Shantsev took part in a business meeting devoted to prospects and opportunities of import substitution in the region. This is crucial in Russia's current situation thus substituting imports is a must. Short article, yet precise and interesting

Australia, Russia exports seen hit; Indonesia to be exempt * China thermal coal futures, China shares of top coal firms rise (Adds analyst's comments, coal futures and coal firms' shares) By Fayen Wong SHANGHAI, Oct 9 (Reuters) - China, the world's top coal importer, will levy import tariffs on the commodity after nearly a decade, in its latest bid to prop up ailing domestic miners who have been buffeted by rising costs and tumbling prices. China will levy import tariffs between 3-6 percent.

Russians had 3.856 trillion roubles' ($82.27 billion) worth of foreign-currency deposits as of Nov. 1, compared to 3.421 trillion roubles on Oct. 1, an increase of more than 12 percent. Their rouble deposits fell by 0.3 percent to 13.829 trillion roubles over the same period, according to the central bank.

The article presents an insight on what seems to be the most significant economic effect of the sanctions the EU has imposed on it in response to their invasion of the Ukraine.

This article talks about the loss of faith there is in the Euro currently because of the conflict with Ukraine and Russia, and how that negatively impacts the UK because its main export zone is Europe. Also, it mentions that the pound is strong when maybe it would be better if the pound was weak, so that refers back to our debate of "Is it better to have a strong or weak currency?"

This article relates trade blocs to athletics.