Goldman Sees Russian Oil Output Topping Soviet Record by 2018

Oil Well file photo

(Bloomberg – bloomberg.com – Stephen Bierman – July 20, 2016) Russia’s oil output will exceed the former Soviet record set almost 30 years ago by the end of 2018 as low-cost fields allow producers to defy the slump in prices, according to Goldman Sachs Group Inc. Production will climb by 590,000 barrels a day over the next three years to […]

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Putin Debt Binge Indulged While Russia Looks Good Next to Europe

Diverse Paper Currency, Coins, Line Graph

(Bloomberg – bloomberg.com – Vladimir Kuznetsov, Natasha Doff – July 20, 2016) No one’s complaining about record debt in Russia next year as an influx of foreign investors helps the government borrow its way out of recession. The Finance Ministry plans to quadruple domestic debt issuance to $20 billion in 2017 to fund a growing budget shortfall and avoid depleting […]

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Oil Must Go to $40 and Stay There to Buy Russia Some Reforms

Oil Wells File Photo

(Bloomberg – bloomberg.com – Anna Andrianova, Andre Tartar – July 18, 2016) [Charts here bloomberg.com/news/articles/2016-07-17/oil-must-go-to-40-and-stay-there-to-buy-russia-reforms-at-last] At an oil price of $40 or below, Russian President Vladimir Putin introduced a flat income tax, built a sovereign wealth fund and delivered speeches to the Bundestag in German. When it was over $100, he fought two wars with neighbors and splashed over $40 […]

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Despite Putin Jibes, Russia Places Hope In ‘Brexiteer’ Boris Johnson

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

(RFE/RL – rferl.org – Tom Balmforth – MOSCOW, July 14, 2016) In a single sentence, he once called Russian President Vladimir Putin a “manipulative tyrant” and likened him to the big-eared, bug-eyed “house elf” from the Harry Potter series. But the surprise appointment of Boris Johnson to head the British Foreign Office is being cautiously welcomed by Moscow — and […]

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TRANSCRIPT: [Putin at] Meeting of the Council for Strategic Development and Priority Projects

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

(Kremlin.ru – July 13, 2016) Vladimir Putin chaired the first meeting of the Presidential Council for Strategic Development and Priority Projects at the Kremlin. Before the meeting of the Council for Strategic Development and Priority Projects. Standing (from left to right): Presidential Aide Igor Levitin, Deputy Prime Minister Dmitry Kozak, Finance Minister Anton Siluanov. Sitting: Education and Science Minister Dmitry […]

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NEWSWATCH: Ukraine’s Poroshenko: “‘We believe in Europe’; Memories of war and oppression are short in the EU, as Brexit shows. Not in Ukraine.” – Petro Poroshenko/Politico.eu

Petro Poroshenko file photo, with additional men in background, adapted from image at state.gov

Writing in Politio.eu, Ukrainian President Petro Poroshenko addresses the UK’s exit from the EU and Ukraine’s professed ongoing commitment to European unity. These aren’t the easiest days for a united Europe. Both Eastern and Western Europe are suffering from Brexit fever. The destiny of those who want to be out has been decided – just like the destiny of those […]

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We Are Right, You Are Wrong: Russia’s Response to Brexit

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

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov – June 29, 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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Russian Oil Exports Set for Record as Europe Competition Grows

Oil Well file photo

(Bloomberg – bloomberg.com – Stephen Bierman and Dina Khrennikova – July 3, 2016) Russian crude exports are on track to set a record this year, which is intensifying competition in Europe as Iran boosts shipments to the region. Exports rose 4.9 percent to 5.55 million barrels a day in the first half of the year from the same period in […]

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Russia Seeks to Reassure Over Brexit Volatility

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

(Voice of America – voanews.com – Daniel Schearf – June 29, 2016) As Britain and Europe struggle to come to terms with the British vote in favor of leaving the European Union, financial markets are roiling across the globe, including in Russia. Even before the vote for a British EU exit, the head of Russia’s largest bank, Sberbank, warned that […]

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Russian markets rode out Brexit volatility fairly smoothly – Nabiullina

Elvira Nabiullina file photo

ST. PETERSBURG. June 30 (Interfax) – Russian markets made it through the surge in volatility caused by the UK’s vote to leave the European Union fairly smoothly, Central Bank chief Elvira Nabiullina said at a financial conference on Thursday. “Speaking about Brexit, in or estimate its direct influence on the Russian financial system and economy will be fairly limited. We’ve […]

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RBTH: Four possible effects of Brexit on Russia’s economy

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Rather than being a boon, UK’s possible exit from the EU could cast the Russian economy into troubled waters. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, KIRA EGOROVA, RBTH – June 27, 2016) Despite Russia being called one of Brexit’s possible beneficiaries, in reality the UK’s potential exit from the EU poses more risks for the Russian economy […]

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NEWSWATCH: “Putin Heads to China to Cement Ties, but Obstacles Remain” – AP

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With … Putin heading to China this weekend, officials in both countries extoll a blossoming ‘strategic partnership’ …. But despite Moscow’s push to strengthen ties with Beijing amid a bitter strain in relations with the West, Russia-China trade has shrunk sharply and a slew of ambitious projects have remained largely on paper. Observers attribute the slow progress to Beijing’s hard-nosed […]

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Brexit: Russia’s national interest versus its nationalist interest

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Subject: Brexit: Russia’s national interest versus its nationalist interest Date: Tue, 21 Jun 2016 13:27:00 -0400 From: Ira Straus (IRASTRAUS@aol.com) The argumentative thrust of Putin’s Russia is friendly to Brexit. Indeed, it propagandizes for the most extreme parties of the far Right in Europe, coupled with providing financial sponsorship for them and some organizational support. This creates a resemblance to […]

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Sechin predicts oil price to reach $50-55 per barrel by end of 2016, $65 per barrel by end of 2017

Igor Sechin file photo

MOSCOW. June 22 (Interfax) – Oil prices will reach the levels of $50-55 per barrel by the end of 2016 and $65 per barrel by the end of 2017, Rosneft (MOEX: ROSN) CEO Igor Sechin said during an interview with Rossiya-24 television. “The current volatility will continue. We think that by the end of the year we will stably reach […]

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RBTH: SPIEF 2016: Russia will attract only the best foreign technologies

Cash, Calculator, Pen

Russia plans to set up a new presidential council to promote economic innovation, as business deals are unveiled. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – June 21, 2016) Participants in the St. Petersburg International Economic Forum (SPIEF) have signed agreements worth $15.8 billion, the executive secretary of its organizing committee, Anton Kobyakov, has announced. The official […]

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Putin Said to Weigh $11 Billion Rosneft Sale to China, India

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

(Bloomberg – bloomberg.com – Elena Mazneva, Ilya Arkhipov – June 19, 2016) Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years. Russia has been seeking buyers for 19.5 percent of state oil champion Rosneft OJSC and […]

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Investments in Russia’s economy declining both because of structural problems, oil price drop – Putin

Diverse Paper Currency, Coins, Line Graph

ST. PETERSBURG. June 18 (Interfax) – A decline in investments in Russia’s economy can be explained by both the lower oil prices and investors’ worries about problems in Russia’s economy, Russian President Vladimir Putin said. “It’s both this and that,” Putin said while meeting with top managers of international news agencies in St. Petersburg on Friday, when asked whether the […]

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TRANSCRIPT: [Putin at] Meeting with heads of international news agencies

Vladimir Putin file photo with VOA logo; screen shot from video still

(Kremlin.ru – June 17, 2016) Vladimir Putin had a meeting with heads of leading international news agencies. The meeting was attended by representatives of news agencies from France, Spain, the United States, Great Britain, Canada, Germany, China, Japan, India and Italy. President of Russia Vladimir Putin: Good afternoon, ladies and gentlemen, I have delivered so many speeches today that I […]

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Putin’s Reliance on American Commerce Has Never Been Greater

File Photo of Boeing 747, adapted from image at navy.mil

(Bloomberg – bloomberg.com – Jake Rudnitsky, Ilya Arkhipov – June 15, 2016) U.S. becomes Russia’s No. 5 partner as trade war hits EU worse Boeing, Cargill, Yum! lead U.S. companies expanding in Russia President Vladimir Putin loves to reel off statistics, but here’s one he may not trumpet at his annual investment forum in St. Petersburg this week: Russia’s reliance […]

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International Economic Forum opens in St. Petersburg

Diverse Paper Currency, Coins, Line Graph

Russian observers expect dialogue and possible progress on the softening of EU sanctions against Russia from the forum, as well as Gazprom and Shell’s joint launch of an enormous LNG plant in Russia’s northwest. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – June 16, 2016) Leading world economists have gathered at the St. Petersburg International Economic Forum […]

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Sanctions agenda may be discussed during Putin-Juncker meeting at SPIEF

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(Interfax – June 14, 2016) Russian President Vladimir Putin and European Commission President Jean-Claude Juncker can touch on the issue of sanctions at their meeting planned during the St. Petersburg International Economic Forum on June 16, Russian Presidential Aide Yury Ushakov said. “The agenda [of sanctions and countersanctions] will certainly be voiced, because, as we know, the issue of sanctions, […]

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Putin Is Growing Organic Power One T-34 Tank-Tomato at a Time; Backed by billionaires’ cash, Russian food exports are now worth more than Kalashnikovs and all other military hardware combined.

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

(Bloomberg – bloomberg.com – Anatoly Medetsky, Matthew Campbell, Yuliya Fedorinova – June 7, 2016) [Photos and charts here bloomberg.com/news/features/2016-06-07/putin-is-growing-organic-power-one-t-34-tank-tomato-at-a-time] Deep in the Caucasus, downriver from Europe’s highest peak, North Korean women roam Soviet-era hothouses growing what tycoon Vladimir Evtushenkov is betting will be his next big bounty: the T-34 battle tomato. The plump hybrids, named for the fearsome tank that […]

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Why the U.S. Needs Russian Rocket Engines to Spy on Russia

File Photo of Atlas Rocket on Launch Pad

(Bloomberg – bloomberg.com – Eli Lake – June 6, 2016) When President Barack Obama came into office, the fact that Russia sold the U.S. the rocket engines it needed for launches was a feature of U.S. foreign policy, not a bug. Obama was trying to reset the U.S. relationship with Moscow, and that meant finding areas where the two former […]

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NEWSLINK “RBTH/Gazeta.ru/Fyodor Lukyanov: “Will Russia integrate into the Western world, post-sanctions? Recent overtures by top EU and German officials usher in hopes that relations between Moscow and the West could be on the verge of a turn for the better – but the real question is what direction Russia will take after sanctions are lifted and the tensions have abated.”

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NEWSWATCH: “Step-by-Step Rapprochement. Germany Considers Easing of Russia Sanctions. Standing tough on Russia remains official policy, but Germany has begun working on the careful easing of sanctions imposed following Moscow’s aggression in Ukraine. The US is opposed, but many in the EU could support the new approach.” – Der Spiegel

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… What Merkel didn’t say … is that behind the scenes, her government has long since developed concrete plans for a step-by-step easing of the sanctions against Russia and that the process could begin as early as this year. … the message has been that the trade and travel restrictions will only be lifted once all the provisions foreseen by […]

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NEWSLINK Valdai Discussion Club/Paul Saunder: “G7 SUMMIT IN JAPAN: NO HISTORIC HIGHS. The G7 has yet to redefine its purpose and role following Russia’s exclusion. Reinvigorating it will require leadership, creativity, and a degree of reflection.”

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There is hope Russia, EU can take relations trajectory consistent with interests of their countries – Peskov

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MOSCOW. May 30 (Interfax) – There is hope for an improvement of Russia-EU relations, and the participation of European Commission President Jean-Claude Juncker in the St. Petersburg International Economic Forum can help that, Kremlin press secretary Dmitry Peskov said. “On the whole, the subject of Russia-EU relations has paramount importance, relations with the European Union are still crucial for the […]

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Medvedev opens Moscow’s fourth airport Zhukovsky

File Photo of Airplane Approaching Runway About to Land

Zhukovsky. May 30 (Interfax) – Russian Prime Minister Dmitry Medvedev has opened the Moscow aviation hub’s fourth international airport, Zhukovsky, an Interfax correspondent reported. One of the first airlines to begin scheduled flights from Zhukovsky will be Kyrgyzstan’s Air Kyrgyzstan. The first flight is scheduled for June 20, a representative of the carrier told journalists on Monday. At the opening […]

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TRANSCRIPT: [Putin at] Meeting with French business community representatives

Kremlin and River

(Kremlin.ru – May 25, 2016) Vladimir Putin met at the Kremlin with French business community representatives. President of Russia Vladimir Putin: Colleagues, friends, Let me welcome you all to Moscow. It is a great pleasure to meet the members of the Economic Council of the Franco-Russian Chamber of Commerce and Industry. France is without a doubt one of our longstanding […]

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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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NEWSWATCH: “Former U.S. diplomat criticizes Canada’s ‘weakness’ on Russia” [Michael McFaul] – The Globe and Mail (Canada)

Memorial Flowers and Photo of Sergei Magnitsky

… Obama’s former ambassador to Russia says Canada is showing a ‘sign of weakness’ by not pushing ahead with a promised U.S.-style Magnitsky Act that would punish Russians deemed to be human-rights violators with visa bans and asset freezes. … McFaul, who served as the U.S. envoy to Moscow from 2012 to 2014 and before that was … Obama’s special […]

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Putin Should Heed This Russian’s Warning on Oil

Oil Well file photo

(Bloomberg – bloomberg.com – Leonid Bershidsky – May 20, 2016) [Chart here bloomberg.com/view/articles/2016-05-20/petr-aven-warns-about-the-dangers-of-oil-dependency] Oil prices follow cycles, and so does the thinking about the future of oil-producing countries. This week, Russian billionaire Petr Aven and two Moscow economists published an article dissecting what they call the “twilight of the petrostate” which echoes the concerns of the Saudi Arabian elite — […]

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RBTH: Medvedev: Global community must work together to regulate internet; The Russian prime minister has urged the international community to act together in addressing global challenges.

File Photo Dmitry Medvedev at Desk with Laptop Computer

(Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – May 23, 2016) Russian Prime Minister Dmitry Medvedev has emphasized the importance of international cooperation on addressing new global challenges, including regulation of the internet, while admitting that the country has been feeling the pressure of Western sanctions. “Our companies and citizens have been subjected to pressure for two […]

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Economy Minister Says Russia Out of Recession More Than Six Months

Alexei Ulyukayev file photo

(Moscow Times – themoscowtimes.com – May 20, 2016) The Russian economy has been out of recession for more than six months, Economic Development Minister Alexei Ulyukayev said during a briefing at the Russia-ASEAN summit on Friday, the TASS news agency reported. Russia’s GDP may perform better than the official forecast, which predicted a decline of 0.2 percent, Ulyukayev said, attributing […]

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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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Ukraine’s Free Trade Deal Was Just a Start

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(Bloomberg – bloomberg.com – Leonid Bershidsky – May 11, 2016) Ukraine’s free trade agreement with the European Union was so controversial that it caused the former Soviet republic’s break with Russia, which had opposed the closer ties with Europe. Several months in, it looks like the deal is benefiting the EU more than it is helping Ukraine. That doesn’t mean […]

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Why Gazprom’s ‘Monopoly’ in Europe is Far from Over

Gas Flame file photo

(Oilprice.com – Ilana Stav – April 4, 2016) The first U.S. shipment of liquefied natural gas (LNG) arrived in Portugal last week and Gazprom did not immediately cut its own gas prices for Europe. While European media has hailed the entry of U.S. gas into the market as a game-changer and a monopoly-breaker, in the short term, nothing has changed […]

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Putin’s Decade-Old Dream Realized as Russia to Price Its Own Oil

Oil Well file photo

(Bloomberg – bloomberg.com – Eduard Gismatullin – April 27, 2016) Russian President Vladimir Putin is on the verge of realizing a decade-old dream: Russian oil priced in Russia. The nation’s largest commodity exchange, whose chairman is Putin ally Igor Sechin, is courting international oil traders to join its emerging futures market. The goal is to increase revenue from Urals crude […]

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NEWSLINK Foreign Policy/DAVID FRANCIS, LARA JAKESA: “‘Sanctions Are a Failue…Let’s Admit That.’ With Europe debating re-opening economic ties to Russia, have U.S. sanctions on Moscow lost their teeth?”

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