Pravda.ru: West shocked to discover revival of Russian economy

Cash, Calculator, Pen

(Pravda.ru – Lyuba Lulko – May 26, 2016) Western media have started to notice positive changes in the Russian economy. Russia is an attractive country for foreign investors. Domestic investors have been showing signs of life as well – they were ready to buy the stock of Russian Eurobonds. Sanctions no longer frighten people, because there are long-term attractive projects […]

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Was Russia’s First Bond Sale in 3 Years a Success?

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Peter Hobson – May 26, 2016) [Chart here themoscowtimes.com/business/article/was-russias-first-bond-sale-in-3-years-a-success/570254.html] Bidding opened suddenly on the morning of May 23. After a three-year absence from international markets, and with very little warning, Russia announced it wished to borrow billions of dollars. The Finance Ministry sought to help finance a yawning budget deficit caused by the low price […]

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Russia Hails Eurobond Triumph as Traders Ask: Who Bought It?

Cash, Calculator, Pen

(Bloomberg – bloomberg.com – Andrey Biryukov, Lyubov Pronina – May 25, 2016) Russia hailed its sale of $1.75 billion of Eurobonds as a triumph in the face of sanctions and “unprecedented pressure” from U.S. and European Union governments. While Finance Minister Anton Siluanov said the deal showed foreigners have “trust” in Russia, investors expressed concern the bond won’t be admitted […]

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Interfax: Foreign investors believe in Russia’s prospects despite sanctions – Shuvalov

Igor Shuvalov file photo

(Interfax – May 22, 2016) Foreign investors believe in the prospects of Russian economy and are setting up their productions here, Russian First Deputy Prime Minister Igor Shuvalov said in the Sunday Evening with Vladimir Solovyev show on Rossiya 1 (VGTRK) television on May 22. “If you take a look at how many new plants are opening now [in the […]

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TRANSCRIPT: [Excerpts: Medvedev at] The 6th St Petersburg International Legal Forum

Dmitri Medvedev file photo

(Government.ru – May 18, 2016) Dmitry Medvedev attended a plenary session titled Trust in Law – Mechanism for Global Crisis Resolution. The St Petersburg International Legal Forum was launched in 2011 and is a major platform for dialogue between politicians, lawyers, economists and scientists who represent various economic and legal systems. The forum seeks to promote ways to modernise the […]

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Hedge Funds Reap Big Rewards From Roller-Coaster Russian Markets

File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Bloomberg – bloomberg.com – Elena Popina – May 15, 2016) Russian assets, which are among the most volatile in the world, are bringing hedge fund managers the best returns in emerging markets. Funds with a geographical focus on the country have gained an average 29 percent since the start of 2015, more than any others geared toward major developing nations, […]

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Interfax: Business confidence rises in Russian extractive, manufacturing sectors

Diverse Paper Currency, Coins, Line Graph

MOSCOW. April 26 (Interfax) – The business confidence index in the Russian extractive industry grew for the third straight month in April, while the index in the manufacturing sector also grew, the Federal State Statistics Service (Rosstat) said. The business confidence index in the Russian extractive sector improved to minus (-) 2% in April, from -3% in March, -4% in […]

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Ford Mulls New Russia Investment as Quarterly Sales Jump 93%

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Andrey Lemeshko, Yuliya Fedorinova – April 14, 2016) Ford Motor Co., which spent more than $1.5 billion with a partner in the past five years to build cars and engine factories in Russia, is studying new investments in the country in a bet on economic recovery. The national car market could still become Europe’s biggest, and […]

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NEWSWATCH: “Russia’s Most Important Bank Needs a Bailout. VEB faces task of paying off about $20 billion in foreign-currency debt.” – Wall Street Journal

Cash, Calculator, Pen

When the Russian government needed to build up infrastructure in … Sochi ahead of the 2014 Winter Olympic Games, it turned to Russia’s most important lender: Vnesheconombank, the country’s state-owned development bank. … eventually holding the equivalent of at least $2.9 billion in overdue loans. … the bill is coming due. VEB for years kept its books in balance by […]

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NEWSWATCH: “Investors Starting to Show Interest in Russia Again: Credit Suisse.” – Reuters

File Photo of Outdoor Electronic Sign with Russian Exchange Data

Investors are starting to look at Russia again after cutting off exposure amid geopolitical tensions two years ago, the head of Credit Suisse’s $60 million Russian Equity Fund said. There are no big inflows yet but a rebound in Russian stock markets in the past few months as the oil price and the rouble have picked up is encouraging interest […]

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Why Hedge Funds Are Loading Up on Rubles

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Elena Popina – April 10, 2016) Managers of some of the best-performing funds from Berlin to New York are buying Russian ruble assets as the currency has rebounded 23 percent from a record low. Stuart Sclater-Booth, who helps oversee more than $40 billion at Stone Harbor Investment Partners, turned overweight on the ruble in mid-February and […]

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Trump’s New Russia Adviser Has Deep Ties to Kremlin’s Gazprom

Donald Trump

Carter Page brings a “real-world” resume-and says his close relations with Russian business are a strength. (Bloomberg – bloomberg.com – Zachary Mider – March 30, 2016) A globe-trotting American investment banker who’s built a career on deals with Russia and its state-run gas company, Carter Page says his business has suffered directly from the U.S. economic sanctions imposed after Russia’s […]

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Russia’s top investigator says Khodorkovsky acquired Yukos shares illegally

Vladimir Markin file photo

(Interfax – March 25, 2016) Russia’s Investigations Committee is close to proving that the shareholders of dissolved oil company Yukos acquired their shares unlawfully, spokesman Vladimir Markin has said. This would give Russia grounds to not pay the Yukos shareholders a 50bn dollars in damages pursuant to a 2014 Hague ruling. “This is a case that can be characterised by […]

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Russia, Inc.: From “structural reforms” of the 2000s to austerity policies today, neoliberalism has been and remains an organic part of the Putin regime

Cash, Calculator, Pen

(opendemocracy.net – Ilya Matveev – March 16, 2016) Ilya Matveev is a researcher and lecturer based in St Petersburg, Russia. He is a founding editor of the online publication Openleft.ru and a member of the research group Public Sociology Laboratory. In December 2014, Vladimir Putin gave his usual annual speech to Russia’s Federal Assembly. This speech turned out to be […]

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Russia ups investment in U.S. Treasuries $4.8 billion in January

Portion of U.S. Treasury Department Building Facade, North Side, with Sculpture of Alexander Hamilton

MOSCOW. March 16 (Interfax) – Russia increased investment in US Treasuries for the third successive month in January, this time by approximately $4.8 billion, according to data from the U.S. Department of the Treasury and the Federal Reserve. Russian investment in UST grew $6.1 billion last year as a whole. Russia, which held $96.9 billion in UST at the end […]

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The Russia-Ukraine Bond Dispute: Another Frozen Conflict?

Map of Ukraine, Including Crimea, and Neighbors, Including Russia

Subject: The Russia-Ukraine Bond Dispute: Another Frozen Conflict? Date: Sun, 6 Mar 2016 From: Peter Clateman <pclateman@yahoo.com> Transnational Dispute Management transnational-dispute-management.com This article will be published in a future issue of TDM (2016). Check website for final publication date for correct reference. This article may not be the final version and should be consideredas a draft article. About TDM TDM […]

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The Russia-Ukraine Bond Dispute: Another Frozen Conflict?

Maidan Square in Kiev, Ukraine

Subject: The Russia-Ukraine Bond Dispute: Another Frozen Conflict? Date: Sun, 6 Mar 2016 From: Peter Clateman <pclateman@yahoo.com> Transnational Dispute Management transnational-dispute-management.com This article will be published in a future issue of TDM (2016). Check website for final publication date for correct reference. This article may not be the final version and should be consideredas a draft article. About TDM TDM […]

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Fitch Says Russia Forces Choice Between Sanctions and Ratings

File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Bloomberg – bloomberg.com – Anna Baraulina, Anna Andrianova – February 29, 2016) Fitch Ratings Ltd. said it will probably stop issuing local ratings on Russian companies under new rules that make it impossible to abide by European Union and U.S. sanctions against Moscow. The rules create a dilemma for international firms because they run counter to the penalties imposed by […]

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Can Things Get Any Worse for Russia? You’re About to Find Out

Diverse Paper Currency, Coins, Line Graph

Investors who’ve made a fortune in the country say that with oil’s plunge, the ruble’s collapse, and Putin in power, all bets are off (Bloomberg – bloomberg.com – Ksenia Galouchko and Henry Meyer – February 23, 2016) [Charts here bloomberg.com/news/articles/2016-02-24/putin-s-oil-despair-drives-lucky-few-investors-toward-the-exits] For a decade, Dmitri Barinov has been following the volatile economy of his homeland from the safe distance of Union […]

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Ukraine Bond Rout Worsens on Bets Political Tussle to Block Aid

Maidan Square in Kiev, Ukraine

(Bloomberg – bloomberg.com – Natasha Doff – February 8, 2016) Ukrainian bonds slid, sending the yield on the nation’s shortest-dated restructured debt above 11 percent for the first time, as a political shakeup raised the likelihood for further delays to an international bailout that’s keeping the country afloat. The $1.15 billion of bonds maturing in September 2019 dropped 2.22 cents […]

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Investment in oil and gas exploration may drop 10-15% in 2016

Gas Facility file photo

(Interfax – February 7, 2016) Investment in geological exploration for oil and gas in Russia may reduce 10-15% in 2016, Minister of Natural Resources and Ecology Sergei Donskoy said in a program aired by the NTV television channel. “Investment in hydrocarbon [exploration] will reduce somewhere between 10% and 15%, somewhere between these two digits,” he said. The minister said that […]

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Ukrainian Bonds Plummet as Government Unity Efforts Stumble

Map of Ukraine, Including Crimea, and Neighbors, Including Russia

(Bloomberg – bloomberg.com – Natasha Doff, Daryna Krasnolutska – February 5, 2016) Ukrainian government bonds plunged as efforts faltered to shore up the ruling coalition after a key reformer quit and accused presidential party members of corruption. Notes issued in November after a $15 billion restructuring are poised for their worst week in the wake of comments from the parliament […]

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Kremlin: Privatization of Russian companies open for foreign investors

Dmitry Peskov file photo adapted from image at kremlin.ru/wikimedia commons

(Interfax – February 2, 2016) Privatization of Russian companies is open for foreign investors, and Russia is interested in attracting new foreign partners, the Kremlin has said. “Russia has always been interested in foreign investors; we value cooperation with those who continue to operate on the Russian market and we are interested in an inflow of fresh investments,” Kremlin press […]

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Russia’s Great Shift Downward; Putin has shown little interest in changing the economic model.

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Carol Matlack – January 28, 2016) For Russia’s battered economy, 2016 already looks miserable. The ruble has slumped to record lows as oil prices have fallen 11 percent since Jan. 1, to around $30 a barrel. The government, which gets nearly half its revenue from oil and gas, is scrambling to plug a 1.5 trillion-ruble ($19.2 […]

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Sweden delivers judgment in favor of Russia in dispute with Yukos holders

Map of Sweden and Environs

(Interfax – January 28, 2016) A Swedish appeals court upheld Russia’s appeal filed earlier in its dispute with the Spanish investment funds, which were holders of American Depositary Receipts (‘ADRs’) of Yukos, Kommersant newspaper reported on Jan. 28. The appeals court acknowledged the fact that the Arbitration Institute of the Stockholm Chamber of Commerce that sustained the funds’ claims to […]

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RBTH: Investors could benefit from Russia’s economic turmoil

File Photo of Outdoor Electronic Sign with Russian Exchange Data

As the Russian economy hits hard times, with business incomes falling, government spending facing cuts and the ruble losing value, RBTH spoke to Sergei Katyrin, president of Russia’s Chamber of Commerce and Industry, to find out how foreign companies are enduring the current “perfect storm” for business. (Russia Beyond the Headlines – rbth.ru – ILYA KROL, RBTH – January 28, […]

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NEWSLINK Russia Direct: “Doing business in Russia: High risk, but also high reward. New Report “The Magnetic Push and Pull of the Russian Economy: What’s Next for Investors in Russia?” examines how the Russian economy has changed over the past year and what new opportunities have emerged there for foreign investors.”

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Putin urges government to be ready for any economic scenario

Diverse Paper Currency, Coins, Line Graph

(Interfax – January 13, 2016) Russian President Vladimir Putin has told the government to closely monitor changes in the economic situation and be ready for any turn. “We should be ready for any scenario,” he said at a meeting with Cabinet members. The president drew attention to how the situation changes on the markets. “I know that the government has […]

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Putin’s Power Failure: He’s had Time and Resources to Transform Russia but has Failed to Do So, Inozemtsev Says

Map of Russia and Russian Flag adapted from images at state.gov

(Paul Goble – Window on Eurasia – Staunton, January 12, 2016) Vladimir Putin has had the time and resources “to transform Russia if not into the next China then into a new Emirates by laying the foundations for economic growth over several decades,” Vladislav Inozemtsev says. But he didn’t do so and as a result, these years for Russia were […]

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Popular Decisions, Unpopular Outcomes

Vladimir Putin

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov – January 11, 2016) Maxim Trudolyubov is a Senior Fellow at the Kennan Institute and the Editor-at-Large of Vedomosti, an independent Russian daily. Mr. Trudolyubov was the editorial page editor of Vedomosti between 2003 and 2015. He has been a contributing opinion writer for The International New York Times since the fall of […]

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TRANSCRIPT: [Putin at] First Russian Internet Economy Forum

File Image of Stylized Eye Surrounded by Binary Code

(Kremlin.ru – December 22, 2015) Vladimir Putin attended the First Russian Internet Economy Forum. The First Russian Internet Economy Forum is taking place in Moscow on December 21-22. The plenary session, attended by representatives of the national IT industry and relevant ministries and agencies, is dedicated to initiatives for the long-term development programme of the Russian Internet segment and branches […]

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Magnitsky’s mother asks Chaika to confirm publicized facts concerning her son

Memorial Flowers and Photo of Sergei Magnitsky

(Interfax – December 22, 2015) The mother of Hermitage Capital lawyer Sergei Magnitsky, who died at a Moscow jail in 2009, has asked the Russian Prosecutor General, Yury Chaika, to provide evidence for the claims he made in a letter to the Kommersant daily regarding her son and the activity of the fund’s head, William Browder. “The information you disseminated […]

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Russia still interested in attracting foreign investors despite economic, political problems – PM

File Photo of Outdoor Electronic Sign with Russian Exchange Data

MOSCOW. Dec 11 (Interfax) – Russia is still interested in attracting foreign investors despite the economic and political problems, Russian Prime Minister Dmitry Medvedev, opening a meeting of the governmental commission on the control of foreign investments in Russia. “Despite certain internal economic difficulties, foreign political problems, the exacerbation of the international situation, it is obvious that Russia is still […]

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NEWSWATCH Moscow Times/Sergei Alexashenko: “Russia’s Economy Slows Amid Investment Woes”

Diverse Paper Currency, Coins, Line Graph

Writing in The Moscow Times, Sergei Alexashenko assesses trends in the Russian economy and some of the factors impacting them. Russia’s economy is faring poorly …. Gross domestic product has swung back to a level last seen in the first of 2008 and the economy has essentially stagnated over the last seven years. * * * The situation in Russia is not […]

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TRANSCRIPT: [Medvedev on] The implementation of roadmaps for the national entrepreneurial initiative

Dmitri Medvedev file photo

(Government.ru – December 1, 2015) Conference on the implementation of roadmaps for the national entrepreneurial initiative From Dmitry Medvedev’s opening remarks: The national entrepreneurial initiative has become a fundamentally new programme to improve the business climate in the country. This year will see the main stage of this paramount national project come to completion. The programme’s reforms were shaped by […]

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Interfax: Minister sees Moody’s upgrading Russia rating outlook as recognition of effective policy

Anton Siluanov file photo

MOSCOW. Dec 4 (Interfax) – Moody’s Investors Service’s decision to upgrade the rating outlook for Russian government bonds to stable from negative is an acknowledgement of the effectiveness of the Russian authorities’ fiscal and monetary policies, Finance Minister Anton Siluanov told reporters. “The upgrade of the outlook, made for the first time in a fairly long time, indicates recognition of […]

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NEWSWATCH Wall Street Journal: “Russian Corporate Bonds’ Unlikely Winning Ways. They are the best performing in the emerging markets in 2015, Citigroup says.”

Diverse Paper Currency, Coins, Line Graph

The Wall Street Journal reports on the performance of Russian corporate bonds. From adversity comes opportunity. But given the degree of adversity facing Russia at the end of 2014—sanctions over Ukraine, plummeting oil prices, a collapsing currency—it is surprising quite how much of an investment opportunity it has turned out to be this year. Russian corporate bonds are the best […]

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Why the Doing Business ranking is so important for Russia; The World Bank report is seen as a key indicator for reforming the business environment

World Bank Building

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan- November 20, 2015) Alexei Lossan is the RBTH Central Desk editor for business In November 2015, the World Bank released its annual Doing Business ranking, in which Russia managed to rise to 51st place. For the Russian economy, this ranking has a particular significance because the government has selected it as […]

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Russia Sees Biggest Decline in Wages, Retail Sales Since 1999

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Anna Andrianova – November 19, 2015) Russian wages and retail sales declined by the most since 1999, a sign consumer demand will remain a weak link in the economy’s efforts to break out of its first recession in six years. Real wages fell 10.9 percent in October from a year earlier, a deeper contraction than the […]

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Half of Russia’s Richest People Are Planning to Cash Out

Hand Pulling Cash from Envelope

(Bloomberg – bloomberg.com – Alexander Sazonov – November 13, 2015) [Charts here bloomberg.com/news/articles/2015-11-13/putin-s-gilded-cage-russia-s-rich-are-facing-cash-out-conundrum] It’s been a quarter century since the fall of the Soviet empire triggered one of history’s greatest wealth transfers. Now bankers are preparing for another as Russia’s first generation of capitalists makes way for the next. Confidential surveys of dozens of millionaires and billionaires conducted since European […]

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Most of investments into Russia in past year come from Asian market – Putin

Eurasia Map

(Interfax – November 13, 2015) Around 90 percent of the investments made into Russia in the past year are the resources of the Asian market, Russian President Vladimir Putin said in an interview with the Interfax and Anadolu news agencies on Friday ahead of the G20 summit in Antalya. “Obviously, cooperation with Asian partners in attracting funds gains special relevance […]

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