Russia's economy minister calls Standard & Poor's rating cut "politically motivated"

KHABAROVSK: Russia's Economy Minister Alexei Ulyukayev said on Friday that he regards a decision by rating agency Standard & Poor's (S&P) to cut Russia's sovereign rating as "in part a politically motivated decision".

Earlier on Friday S&P cut Russia's long- and short-term foreign currency sovereign ratings to BBB-/A-3 from BBB/A-2.