Russia claims to have a COVID-19 vaccine

Russia claims to have a COVID-19 vaccine

The world is skeptical about the effectiveness of the vaccine.

As the world is in a rush to find a COVID-19 vaccine, Russia seems to have developed it first. Earlier today, President Vladimir Putin announced the registration of what the country considers to be the world’s first COVID-19 vaccine.

According to the data offered by Russia, the clinical trials for the vaccine have been completed in nearly two months. Even though the vaccine has already been registered, Phase III of clinical trials will start this Wednesday.

Until now, no data about its long-term effects, side effects, and efficacy has been published.

This vaccine created global buzz. Just a month ago, Russia and its "Cozy Bear" group were blamed for trying to steal information about a potential COVID-19 vaccine in the UK, Canada, and the US. The "Cozy Bear" group is believed to be linked with Russian intelligence. Allegedly, the group used custom malware when targeting the vaccine researchers. Cyber-security agencies and various Departments of National Security from the countries abovementioned accused Russia of stealing and selfishness, given these difficult times. However, Dmitry Peskov, Kremlin spokesman, rejected the allegations due to lack of evidence.

Also, the World Health Organisation (WHO) urged Russia to undergo all international requirements for producing a COVID-19 vaccine. At the moment, Russia’s vaccine is not on WHO’s list of vaccines allowed to be tested on humans. As a response, Vladimir Putin stated that the vaccine passed “all needed checks.”

A statement released by the Russian government mentioned that in October, it would start a mass vaccination against the Coronavirus.

According to Russia's sovereign wealth fund, internationally, the vaccine will be known as "Sputnik V." So far, it has preliminary applications for more than 1 billion doses.

The vaccine developed by the Gamaleya Institute will be in production in September.

Currently, the USD/RUB pair lost 0.54%.

Sources: bbc.com, cnbc.com

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