Russia appoints new first deputy chairman

Russia's first deputy finance minister Alexei Ulyukayev is moving to the central bank to oversee monetary policy as first deputy chairman.

Ulyukayev will replace Oleg Vyugin, who was named the nation's new top market regulator recently after presiding over a record build-up of the nation's hard currency and gold reserves and a steady strengthening of the ruble.

Many economists, including former finance minister Mikhail Zadornov, praised Ulyukayev's appointment. "He will strictly maintain the go

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