The Turkish Deposit Insurance Fund (TMSF) decided Friday to convert all of its cash assets into Turkish lira following President Recep Tayyip Erdoğan’s call to support the declining Turkish currency against the US dollar. Source Daily Sabah
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Iraq backed a proposal from Saudi Arabia and Russia to extend output cuts for nine months, removing one of the last remaining obstacles to an agreement at the OPEC meeting in Vienna this week. Source Bloomberg
Russia is in talks with European countries to determine the entry point of the second line of the Turkish Stream gas pipeline flow, Russian Prime Minister Dmitry Medvedev told journalists. Source Tass
French President Emmanuel Macron will host Russian counterpart Vladimir Putin for talks at the Versailles palace on May 29, the French presidency said on Monday. The meeting coincides with an exhibition to mark Russian Tsar Peter the Great’s visit to France 300 years ago. Source France 24