RUSSIALINK: “Influential economist says sanctions-hit Russian firms must not be compensated” – Interfax

Alexei Kudrin file photo

(Interfax – April 21, 2018) Former Finance Minister Alexei Kudrin has said the Russian government should not compensate Russian companies which have been hit by US sanctions. “Companies should be helped so that they don’t stop, but you don’t have to…[ellipses in original] compensate billionaires for the loss in their value,” Interfax news agency quoted Kudrin as saying on 21 […]

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NEWSWATCH: “How to Stop Vladimir Putin’s Mafia; The real enemy is a group of about 100 beneficiaries of the regime and several thousand accomplices” – Wall Street Journal/Mikhail Khodorkovsky

Mikhail Khodorkovsky file photo

“… The West’s real enemy – and the enemy of the Russian people too – is a group of about 100 key beneficiaries of the Putin regime, and several thousand of their accomplices, many of whom hold posts in the Federal Security Service and the presidential administration.  Most of these people began their careers in the criminal underworld of St. […]

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NEWSWATCH: “U.S. Softens Stance on Rusal Sanctions; Aluminum Prices Plunge” – Bloomberg

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

“The U.S. softened its position on sanctions against Russia’s United Co. Rusal, sparking a plunge in aluminum prices. The U.S. Treasury said it would provide sanctions relief to Rusal if Oleg Deripaska relinquished control, according to statement on Monday. It also extended the deadline for companies to wind down dealings with the Russian aluminum producer by almost five months. Aluminum […]

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NEWSWATCH: “Is Russia Sponsoring Terrorism?” – New York Times/Senator Cory Gardner

American Flag and Partial View of U.S. Capitol Dome, adapted from image at aoc.gov

“… The State Department should consider adding [Russia] to its list of state sponsors of terrorism, alongside its close allies Iran and Syria. … Russia has invaded … Georgia and Ukraine … supports the murderous regime of Bashar al-Assad and our enemies in Afghanistan … is engaged in active information warfare against Western democracies, including meddling in the 2016 United […]

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NEWSWATCH: “Political Tensions Could Rob the U.S. of the Russian Rocket Engine It Desperately Needs; The United States has become increasingly reliant on the RD-180” – Popular Mechanics/David Grossman

File Photo of Atlas Rocket on Launch Pad

“The burgeoning private space industry might find itself caught in the middle of geopolitical tensions …. Russian lawmakers have drafted a law that would ban cooperation … on building rocket engines, including … the crucial RD-180. … [that] powers the Atlas V, the launch system maintained by United Launch Alliance (ULA), a joint company owned by both Lockheed Martin and […]

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NEWSWATCH: “Russia is opposed to ‘sanction-swapping’ with the U.S. – but is prepared to defend itself, finance minister says” – CNBC

Anton Siluanov file photo

“Russia stands ready to retaliate against the latest round of U.S. sanctions … Finance Minister Anton Siluanov [said] …. The U.S. slapped sanctions on several Russian oligarchs, businesses and agencies thought to have ties to … Putin …. prompt[ing] a dramatic market sell-off in Moscow …. Siluanov told CNBC: ‘We are not in favor of sanction-swapping. Nevertheless, our MPs (members […]

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NEWSWATCH: “Putin and Trump trying to walk back Syria strike and sanctions tensions” – bne Intellinews

Vladirmir Putin and Donald Trump Sitting in Chairs with Flags Behind, adapted from image at whitehouse.gov

“The U.S. surprised (and relieved) the market by not following through on a threat to impose even more sanctions … the day after western allies carried out limited missile strikes on suspected chemical weapons industrial targets in Syria. The U.S. administration is split over how to react to Russia’s increasing aggression … both … Trump and … Putin were actively […]

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NEWSLINK: “Trump Scraps New Sanctions Against Russia, Overruling Advisers” – New York Times/Peter Baker

File Photo of White House with South Lawn and Fountain

“… Trump rejected, for now at least, a fresh round of sanctions set to be imposed against Russia on Monday, a course change that underscored the schism between the president and his national security team. …”

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NEWSWATCH: “U.S. postpones fresh sanctions on Russia, Kremlin retaliation options limited” – bne Intellinews/Ben Aris

Nikki Haley file photo, adapted from image at usembassy.gov

“The Trump administration postponed imposing yet another round of sanctions to the ‘near future’ in the wake of … airstrikes on Syria. … Nikki Haley said … the U.S. would impose fresh sanctions … that would primarily target Russia’s defence sector and single out companies … linked to chemical weapon production. Russia’s markets opened flat … the next day … […]

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NEWSLINK: “Autumn of the Oligarchs; Vladimir Putin’s Billionaire Buddies Are Getting Scared, and Not Just of Sanctions” – The Daily Beast/Amy Knight

Kremlin and River

“Some of the oligarchs now face major U.S. sanctions, while others are getting arrested on the Kremlin’s orders. Is Putin’s circle of the shameless rich beginning to crumble?”  

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U.S. Sanctions aren’t Splitting Russian Elites or Dividing Elites and People, ‘Nezavisimaya’ Says

(Paul Goble – Window on Eurasia – Staunton, April 10, 2018) The expanded US sanctions regime is based on the same assumption that the West made after the beginning of the economic crisis in Russia four years ago, the editors of Nezavisimaya gazeta say, the belief that economic hardship will lead some in the elite to oppose Vladimir Putin and […]

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RUSSIALINK: “Can Russia Afford Its Save-a-Billionaire Relief Program? Russia’s poorest will end up footing the bill” – Moscow Times/ Vedomosti/ Pavel Aptekar, Vladimir Ruvinsky

Cash, Calculator, Pen

“… new sanctions … the West imposed against companies and businesspeople with close Kremlin ties pose a new challenge for the Russian government and economy. Like in 2014, the authorities have already promised support to those targeted …. ‘Supporting those who support you’ might make sense politically, but how much of this … can the Russian economy bear? * * […]

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NEWSWATCH: “Russia’s Trade With the West Surges Even as Sanctions Mount; Last year’s increase, three years after penalties tied to annexation of Crimea, shows limits of curbs in longer term” – Wall Street Journal/Andrea Thomas, James Marson, Stefan Lange

File Photo of G7 Leaders and other Officials Around Round Table at the Hague, with Flags

” …. The U.S. and Europe’s largest nations, including France and Germany, saw exports to and imports from Russia skyrocket in 2017 after three years of decline. … at their highest levels since 2014, the year Russia invaded Ukraine and annexed Crimea …. The turnaround could be short-lived. … [After] Washington … unveiled fresh sanctions … in the latest U.S. […]

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NEWSWATCH: “‘Market Fundamentalism’ Tested as New Economic Storm Hits Russia” – Bloomberg

Diverse Paper Currency, Coins, Line Graph

“Russia is gambling that a policy mix born amid its confrontation with the West four years ago is good enough to carry it through an even worse standoff …. allowing its ruble to trade freely  …. that flexible currency provides support for the Russian economy as … Putin faces the fallout of the most punitive U.S. penalties yet and … […]

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NEWSWATCH: “No longer safe assets: Invest in Russia at your own risk after U.S. sanctions, strategist says” – CNBC/Natasha Turak

File Photo of Outdoor Electronic Sign with Russian Exchange Data

“Russian assets, in recovery mode following a deep recession after the global oil price collapse in 2015, have been ravaged since Friday over fears of U.S. sanctions.  Popular among many emerging market investors for the past year, this progress now appears on the brink of becoming undone as market analysts call for a re-evaluation of Russia’s risk pricing. * * […]

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NEWSLINKS: “Kremlin backers warn of threat of war with U.S. as Syria tensions rise” – Washington Post/Anton Troianovski

File Photo of Bashar al-Assad and Sergei Lavrov

“… The United States is considering strikes on Russian ally Bashar al-Assad in Syria, prompting ominous speculation among people close to the Kremlin that such a move could touch off a wider conflict. One scholar who advises the Russian Defense Ministry even raised the specter of ‘World War III.’ … U.S. sanctions against top Russian business executives wiped billions of […]

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Ruble Falls Further, Russian Officials Seek To Calm Nerves

Diverse Paper Currency, Coins, Line Graph

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – April 10, 2018 – also appeared at rferl.org/a/russia-ruble-continues-fall-officials-seek-to-calm-nerves/29156379.html) The Russian ruble is falling for a second straight day following the imposition of new U.S. sanctions, while the Central Bank chief and other officials are seeking to calm investors in the wake of a big sell-off in shares of Russian companies […]

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‘No Doubt’ Russia Can Weather U.S. Sanctions, Economic Development Minister Says

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – April 10, 2018) Russia’s Economic Development Minister has promised that the country will be able to withstand losses suffered since the latest round of U.S. sanctions triggered sell-offs. The ruble sank to its lowest exchange rate against the U.S. dollar and euro since December 2016 on the second day of losses. Stocks in major Russian […]

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NEWSLINK: “Taking on Russia’s ‘oligarchs’; Meduza looks at the businessmen, state officials, and companies targeted in the latest U.S. sanctions” – Meduza

“On Friday, the world got a look at the latest U.S. sanctions against Russia. The U.S. Treasury Department’s new “designations” target seven Russian ‘oligarchs’ and 12 companies they own or control, 17 senior Russian government officials, and a state-owned Russian weapons trading company and its subsidiary, a Russian bank. Washington says the measures are a response to “a range of […]

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New Sanctions Won’t Spark Conspiracy Against Putin or Reverse His Policies, Shevtsova Says

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

(Paul Goble – Window on Eurasia – Staunton, April 7, 2018) The new sanctions the US has announced will hurt the Russian oligarchs but they will not lead to a conspiracy against Putin because “the main source of their incomes is in Russia and they are completely dependent on the orders of the president,” Liliya Shevtsova says. And they haven’t […]

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NEWSWATCH: “Zapret a manger: Russia’s elites face growing sanctions pressure” – Bear Market Brief/Max Hess

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

“[With the Treasury Department’s April 6, 2018, sanctions announcement,] [s]even Russians explicitly labeled oligarchs … their main Russian businesses, and 17 government officials were added to the list of Specifically Designated Nationals (SDN) … [who] have their U.S. assets frozen, while U.S. persons are barred from doing business with them. … a tactical escalation of the U.S. sanctions …. expanded […]

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NEWSLINK: “Expelled from Russia, U.S. diplomats bid a wistful farewell (video)” – Washington Post/Amie Ferris-Rotman

File Photo of U.S. Embassy Moscow, with Russian Foreign Ministry Building in Distance

“… Set to the tunes of a country music band from North Carolina, the video features eight of the 60 Americans kicked out of Russia in the latest tit for tat between Moscow and the West. The escalation began last month when a former Russian double agent and his daughter were poisoned on British soil with a Soviet-designed nerve agent. Britain […]

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NEWSWATCH: “How Russia’s Economic Recession Benefits Moscow Politically in its ‘Near Abroad’ [Excerpt]” – PONARS Eurasia/Mariya Omelicheva

Map of Commonwealth of Independent States, European Portion

Mariya Y. Omelicheva is Professor in the Department of Political Science at the University of Kansas. “Over the short run, Russia’s acrimonious relations with the West are serving the Kremlin’s broader effort of heightening its influence in its ‘near abroad.’ In 2014, Russia was hit by a triple whammy of low oil prices, Western sanctions, and Moscow’s counter-sanctions. During the […]

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U.S. Reported Poised To Impose New Sanctions On Russian Billionaires

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

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – April 5, 2018 – also appeared at rferl.org/a/us-reported-poised-impose-new-sanctions-russian-billionaires/29146529.html) The United States plans to impose a new round of sanctions on Russia, this time targeting Russian billionaires with ties to President Vladimir Putin, media are reporting. Reuters and The Washington Post, citing U.S. officials speaking on condition of anonymity, said at […]

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NEWSWATCH: “We must avoid new Cold War: German government’s Russia expert” – Reuters

EU Map

“Germany wants to keep up a dialogue with Moscow despite joining Western expulsions of Russian diplomats and must avoid a new Cold War, the German government’s coordinator for Russia said …. [EU] member Ireland [and]Moldova … joined the list of countries expelling Russian diplomats over the attack on [Sergei] Skripal, a former double agent. The list includes 22 EU states; […]

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NEWSLINK: “How Will Trump Punish Russia Next? When it comes to sending messages to bad actors, presidents have a standard bag of tricks to choose from.” – Politico/Samantha Vinograd

File Photo of Vladimir Putin and Barack Obama Seated Before Russian and U.S. Flags

“… I spent a lot of time in the situation room debating how to respond to naughty global players ….”

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NEWSWATCH: “Tough Action on Russia, at Last, but More Is Needed” – New York Times Editorial

Stylized Artist's Depiction of Shadowy Figures in Dark Coats and Dark Hats, One Carrying a Briefcase

“… expelling scores of Russians from the United States and 21 other countries … Trump and allied leaders have imposed the most significant punishment yet on Russia and … Putin. … Putin’s mischief … runs the gamut from interference in the elections in America and other Western democracies to propelling the wars in Ukraine and Syria. … The expulsion orders retaliate […]

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NEWSWATCH: “Russian Voters Left Guessing at Putin’s Economic Plan” – Reuters

Cash, Calculator, Pen

“… Putin will enter Sunday’s election with little agreement among his top policymakers on an economic strategy for his next term …. Many Russians … prospered … [when] high oil prices contribut[ed] to bumper growth rates before … 2008 …. But the economy sank into recession after Western … sanctions … [over] Ukraine. A collapse in oil prices and the […]

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NEWSWATCH: “Russian Spy’s Poisoning: Where Does PM May Go from Here? Russia’s apparent attempt to murder Sergei Skripal in the United Kingdom leaves Her Majesty’s Government with no good choices” – David Johnson/The National Interest

File Photo of British Parliament Building, Big Ben, Thames, adapted from image at loc.gov

“Russia’s apparent attempt to murder Sergei Skripal in the United Kingdom leaves … [the UK] with no good choices. Unlike the murder of … Litvinenko … London had no choice but rapidly and publicly to accuse [Russia] of … incompetence in losing control of a nerve agent it invented or attempted murder on British soil. …”  British Prime Minister May […]

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Interfax: Putin: import substitution in Russia is temporary phenomenon

File Photo of U.S. Dairy Cows

SAMARA. March 7 (Interfax) – Import substitution in Russia is a temporary phenomenon; a temporary tool to balance out the current situation, Russian President Vladimir Putin said. “The idea of import substitution is not, in and of itself, universal and is not what we should be aiming for in the long run; import substitution mustn’t disrupt competition. This is an […]

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Interfax: Ryabkov predicts countermeasures in response to new U.S. sanctions on Russia

Sergei Ryabkov file photo

MOSCOW. Feb 15 (Interfax) – Russia will respond to new sanctions from the United Sates if they are imposed, Russian Deputy Foreign Minister Sergei Ryabkov said. “If the threats are followed by real actions, we will act as before, staying calm and reserved – that is, ensure alternative forms and ways of achieving the tasks faced by our economic operators, […]

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Interfax: Medvedev: U.S. seeks to oust Russian companies from European market by putting them on different lists

Dmitri Medvedev file photo

SOCHI. Feb 15 (Interfax) – The United States is seeking to oust Russian companies from European market by including them in different lists, Russian Prime Minister Dmitry Medvedev said. “Why are they doing so? For purely pragmatic reasons, this is because they want to promote their companies to European market, but, saying it straightforwardly, Europe and the U.S. are now […]

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NEWSLINK: “Expansion, Sanctions, and Opposition-Promotion: the West’s Failed Russian Transformation Strategy” – Russian and Eurasian Politics/ Gordon M. Hahn

File Photo of Kremlin Aerial View, adapted from .gov source

“… The West’s post-Ukraine crisis sanction meanwhile are intended to undermine the regime from above. The hope in Washington and Brussels is that by pressuring state and private oligarchs close to Putin or the Kremlin, some may withdraw their support and seek either to remove Putin in a coup or join the opposition and remove him in a revolution or […]

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NEWSLINK: “Richard Sakwa: The Key Challenge for Russia is to Avoid Inflicting Damage on Itself” – Rethinking Russia/Richard Sakwa Interviewed by Pavel Koshkin

“Rethinking Russia sat down with University of Kent’s Professor Richard Sakwa to discuss his new book Russia Against The Rest, its relations with the West, its role in a new world order as well as its greatest challenges in 2018. … On Jan. 30, The U.S. Treasury released the Kremlin Report, which contains a list of 220 Russian officials and […]

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Moscow Far More Worried about Trump than Many in the West Think, Shevtsova Says

Vladirmir Putin and Donald Trump Sitting in Chairs with Flags Behind, adapted from image at whitehouse.gov

(Paul Goble – Window on Eurasia – Staunton, February 12, 2018) Many Russian and Western analysts dismissed “the Kremlin list” the Trump Administration released two weeks ago as a bad joke or worse and thus failed to recognize the extent to which its contents in fact have made Moscow far more afraid of the US president than they were before, […]

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Interfax: Ryabkov on countering ‘Kremlin list’: response not to be completely mirrored, Russia not to harm itself

Sergei Ryabkov file photo

MOSCOW. Feb 5 (Interfax) – The political meaning of the ‘Kremlin list’ composed in the United States is Washington’s wish to ‘put pressure’ on Russia, Deputy Foreign Minister Sergei Ryabkov told the newspaper Izvestia in an interview on Monday. “Hence, we are not trying to counter this situation in a completely mirrored way and will not do any harm to […]

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NEWSWATCH: “Why Did the Trump Administration Pass the Buck on Sanctioning Russia?” [excerpt] – Russia Matters/David Szakonyi

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

David Szakonyi is an assistant professor of political science at George Washington University This week’s highly anticipated news on additional Russia sanctions landed with a thud. For weeks, both Moscow and Washington had been astir about the impending steps the Trump administration would take against Russia based on legislation reluctantly signed by the president nearly six months ago” and overwhelmingly […]

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Interfax: Sovereign debt sanctions may cause brief volatility, no real effect on economy, financial stability – Nabiullina

Elvira Nabiullina file photo

ROSTOV-ON-DON. Feb 1 (Interfax) – U.S. sanctions targeting Russian sovereign debt, if introduced, might lead to short-term volatility on the sovereign debt market, but would not have a substantial effect on the economy or financial stability, Central Bank Governor Elvira Nabiullina said. “We saw this risk previously, we see it now. We evaluated it, evaluated the effect of two possible […]

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Investors Take U.S. List Of Russian ‘Oligarchs’ In Stride — For Now

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

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Carl Schreck – January 30, 2018 – also appeared at rferl.org/a/russia-investors-brush-off-us-treasury-oligarchs-list/29007996.html) For months Russia’s business and political elite were fretting about the planned release of a U.S. list of potential Russian targets for fresh sanctions — including government officials and “oligarchs” purportedly close to the Kremlin. After that unclassified list […]

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Can Russia Sustain Its Foreign Policy Power Plays in 2018?

File Photo of U.S. Embassy Moscow, with Russian Foreign Ministry Building in Distance

(Moscow Times – themoscowtimes.com – Jonathan Brown, Editor, Moscow Times – January 31, 2018) When Vladimir Putin landed in Syria late last year, he was greeted by President Bashar Assad not as a foreign dignitary, but as the guardian of the embattled nation. “Syria has been preserved as a sovereign and independent state,” Putin told soldiers assembled at the Khmeimim […]

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Why The List Matters

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Brian Whitmore – January 31, 2018 – also appeared at rferl.org/a/daily-vertical-transcript-why-the-list-matters/29009462.html) So by now we’ve all probably heard the initial reaction to the U.S. Treasury Department’s much-anticipated list of the most influential Russian officials and oligarchs who could be subject to future sanctions. It’s nothing more than a “who’s who” […]

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NEWSLINK: “DC Think Tanks Fail To Deliver Russian ‘Sanctions’ Smackdown, Market Up” – Forbes/ Kenneth Rapoza

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

“… The bulk of the names on the list, including Gazprom CEO Alexei Miller, VTB Bank president Andrey Kostin, and metals tycoon Oleg Deripaska, were all names on ‘black’ and ‘gray’ lists circulating between the State Department and Washington think tanks for months. Treasury said that the appearance on the list does not mean they are banned from traveling to […]

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NEWSLINK: “Washington added every Russian billionaire to its ‘list of oligarchs.’ Does that make sense? Who are these ‘oligarchs’?” – Meduza

File Photo of Two Persons Shaking Hands and Exchanging Cash

“1. What Happened? … 2. Who does Washington consider an “oligarch” in Russia? … 3. But who are “oligarchs” really? It is just very rich business people? … 4. Who are Russia’s oligarchs? Where’d they come from? … 5. Is this the only definition of “oligarchy”? … 6. Does Russia have “oligarchs” today? …”

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Interfax: There are enough potential buyers of Russian defense industry products to replace those who may stop buying them due to U.S. actions – Russian MP

Russian State Duma Building file photo

MOSCOW. Jan 30 (Interfax) – The number of potential buyers of products manufactured by the Russian defense industry is sufficient to replace those who could quit this market following the publication of the ‘Kremlin list’ by the United States, deputy head of the State Duma Defense Committee Yury Shvytkin told Interfax. “If we take the defense industry, if these or […]

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NEWSWATCH: “U.S. Sanctions Would Be ‘Economic War’ to Head of Russia’s VTB; Personal sanctions would be preferable to institutional ones, Kostin says” – Bloomberg/Jake Rudnitsky, Francine Lacqua

VTB Bank File Photo

“As Moscow braces for a possible expansion of U.S. sanctions, the head of Russia’s second-biggest bank said any further restrictions on the nation’s lenders would be tantamount to ‘economic war.’  * * * While VTB has been subject to restrictions on raising financing since 2014 after Russia’s annexation of Crimea from Ukraine, new sanctions could go as far as cutting off […]

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Who’s On The List? Russia’s Elite Nervous About New U.S. Sanctions

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

(Article ©2018 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Mike Eckel – WASHINGTON – January 15, 2018 – also appeared at https://www.rferl.org/a/russia-sanctions-list-putin-circle-elite-nervous/28976991.html) There’s a chill settling in over Moscow, and it’s not just the arctic temperatures that typically smother the Russian capital in January. As U.S. officials put the finishing touches on new financial and travel sanctions against Russia, […]

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The Five Big Russia Questions For 2018

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

(Article ©2017 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Brian Whitmore – December 28, 2017 – also appeared at rferl.org/a/five-russia-questions-for-2018/28944045.html) With 2017 almost behind us, and 2018 nearly upon us, here are five questions The Power Vertical will be keeping an eye on going forward. 1. How Will The Kremlin Handle Navalny’s ‘Campaign’? As expected, Aleksei Navalny won’t be […]

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NEWSWATCH: “Kennan Cable No. 29: U.S. Sanctions Law and Western Coordination on Russia Policy” – Kennan Institute/ Dominik Tolksdorf

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

“The United States and the European Union have coordinated their sanctions against Russia for more than three years. In July 2017 the U.S. Congress overwhelmingly passed additional sanctions against Russia, Iran, and North Korea that were signed into law by President Trump on August 2. The legislation was drafted in the context of the alleged Russian interference in the U.S. […]

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NEWSWATCH: “U.S. Criticizes Germany’s Support of New Russian Natural Gas Line; Top state department official praises Denmark for passing law that could hamper pipeline project” – Wall Street Journal/ Paul Sonne

Gas Flame file photo

“[Assistant Secretary of State for European and Eurasian affairs A. Wess Mitchell] offered harsh words … for Germany over the country’s continued support for a new Russian gas pipeline to Europe … known as Nord Stream 2 … a wholly owned subsidiary of Russian state energy giant Gazprom [that] would double Russia’s export capacity … adding a second link between Russia and Germany. * […]

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