Remarks by the President in Final Press Conference. (excerpt re: Russia)

Putin and Obama with U.S. and Russian Flags

(The White House – Office of the Press Secretary – January 18, 2017) Q Mr. President, thank you. The President-elect has said that he would consider lifting sanctions on Russia if they substantially reduced their nuclear stockpile. Given your own efforts at arms control, do you think that’s an effective strategy? Knowing this office and Mr. Trump, how would you […]

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RUSSIALINK RBTH: “Will Russia cut its nuclear arsenal in exchange for lifting sanctions?”

Russian Mobile ICBM Parade File Photo

The U.S. may reconsider sanctions against Russia if the latter agrees to reduce its nuclear arsenals, said U.S. President-elect Donald Trump in an interview with the British newspaper, The Times. According to military experts, if the reduction is reciprocal then such an agreement will be to Russia’s advantage. Russia, however, will first want a change in NATO policy. (Russia Beyond […]

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NEWSWATCH: “China Goes Food Shopping-to Russia; ‘Everything that can be consumed by a human being in China is something they’re interested in,’ Russian official says” – Wall Street Journal/AMIE FERRIS-ROTMAN/Liyan Qi

Asia Map

China bought more than $1 billion in food products from Russia last year, replacing Turkey as the top importer of Russian foodstuffs. … central to Russia’s economic and political pivot toward Asia, as the Russian economy continues to suffer under Western sanctions and the low price of oil, and U.S.-Russian relations deteriorate …. Russia and China … describe current relations […]

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NEWSWATCH: “General Frost to the Rescue: cold helps Russia comply with OPEC deal” – Reuters

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

“… Russia … in the past … accused of dragging its feet in implementing oil production and exports deals, reduced production by 100,000 barrels a day in the first few days of January … a third of the way towards the total cut Russia promised to deliver by mid-2017. … [at least partly] the result [of]  …unusually cold temperatures in […]

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Russia may take asymmetric measures against U.S. in response to ‘Magnitsky list’ expansion – Russian MP Slutsky

Memorial Flowers and Photo of Sergei Magnitsky

MOSCOW. Jan 10 (Interfax) – Moscow may asymmetrically react to Washington’s decision to expand the ‘Magnitsky list’ – similarly to Russia’s response to the expulsion of Russian diplomats from the United States, Russian State Duma International Affairs Committee Chairman Leonid Slutsky said. “I would like to remind you that Russia has a law on measures of response to the Magnitsky […]

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Dollar Falls to Under 60 Rubles for the First Time Since July 2015

Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – January 5, 2017) As most Russians enjoy a week-long holiday vacation, the country’s ailing currency is also having a happy new year. Today, during trading on the Moscow Stock Exchange, the U.S. Dollar’s value fell to less than 60 rubles for the first time since 2015, the RBC newspaper reported. At 2:19 p.m. Moscow time, […]

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Rosneft Privatization Deal Closed As Italian Financing Comes Through

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

(Moscow Times – themoscowtimes.com – January 4, 2017) The tumultuous privatization saga of Russia’s largest oil company appears to be drawing to a close. Swiss-British commodities trading firm Glencore and the Qatari Sovereign Wealth Fund have closed a deal to purchase 19.5 percent of state-controlled Rosneft, according to a statement on Glencore’s website. The news was followed by an announcement […]

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Trump Has Tough Choice After Obama Sanctions on Russia Hack

Putin and Obama with U.S. and Russian Flags

(Bloomberg – bloomberg.com – Nick Wadhams, Justin Sink – December 30, 2016) President Barack Obama is forcing his successor, Donald Trump, into a difficult choice: reverse the sanctions the departing president just imposed on Russia for hacking e-mails in the U.S. election or put at risk his campaign vow to improve relations with Vladimir Putin. Hours after Obama imposed penalties […]

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NEWSWATCH: “In Moscow, Trump’s tapping of Tillerson lifts hope of U.S. rapprochement; Russian experts know ExxonMobil CEO and Secretary of State nominee Rex Tillerson well, and see Trump’s selection of him as a signal that genuine detente is a possibility.” – Christian Science Monitor/Fred Weir

Rex Tillerson file photo, adapted from image at readyagain.gov

“It’s a rarity for Moscow to be enthusiastic over a US president’s choice for secretary of State. It certainly wasn’t the case for either of the past two secretaries, Hillary Clinton and John Kerry. … Trump’s decision … to nominate ExxonMobil CEO Rex Tillerson is proving to be a pleasant surprise to Russia. … the nomination … seems evidence to […]

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Russian Energy Minister Says Oil Cuts to Start in January

Oil Well file photo

(Bloomberg – bloomberg.com – Elena Mazneva, Annmarie Hordern – December 11, 2016) Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said. “The first stage of the cut we will see as soon as early January,” Novak […]

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Putin Caps a Turnaround Year as Rosneft Deal Beats Sanctions

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

(Bloomberg – bloomberg.com – Jake Rudnitsky, Ilya Arkhipov – December 8, 2016) As the U.S. and #Europe try to isolate #Russia with #sanctions, Vladimir #Putin just managed to oversee one of the biggest investments in the global #energy industry this year. The surprise $11 billion sale of shares in oil giant #Rosneft PJSC to Qatar’s sovereign wealth fund and Glencore […]

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Sanctions, economic pressure are increasingly used for political pressure – Putin

Truck at Russian Border Crossing

MOSCOW. Dec 7 (Interfax) – Russia should take into account the increase in the use of methods of economic and sanction pressure when working on its long-term economic strategy, Russian President Vladimir Putin said. “Economic restrictions, pressure, and sanctions are being increasingly used for political purposes, under the guise of political purposes, often in competition. We should take these tendencies […]

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How Russia Outsmarted OPEC

Oil Well file photo

(Oilprice.com – Irina Slav – December 5, 2016) #OPEC’s historical deal to cut production has been sealed, and #oil prices have jumped as a result, comfortably above the $50 per barrel mark. According to #Lukoil’s vice president, Leonid Fedun, the average price of crude in 2017 could reach US$60 a barrel, thanks in no small part to that agreement. According […]

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NEWSWATCH: “Continue the Unfinished Business of Integrating Russia into the Global Economy. Renewed economic interaction would increase the West’s influence, not lessen it” – The National Interest/Carnegie Corporation/J. Andrew Spindler

File Photo of White House with South Lawn and Fountain

“… Trump has an unusual opportunity … to improve the tone of U.S.-Russian relations, currently at one of their lowest ebbs …. The positive possibilities in the short run are substantial …. the potential for a U.S.-Russian collaboration in the Middle East, particularly with regard to defeating ISIS and developing a peace plan for Syria. … there are many other […]

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NEWSWATCH: “Ahead of promised cut, Russia’s oil output hits record high” – Reuters

Oil Well file photo

Russia plans to use its November oil production … its highest in almost 30 years, as its baseline when it cuts output under [a] deal with OPEC …. Russia … promised to gradually cut output by up to 300,000 … bpd … aimed at supporting oil prices. Its daily oil production rose to an average of 11.21 million bpd in […]

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Russians Toast Recession as Pubgoers Drink ‘Less But Better’

Man in Silhoette with Bottle of Alcohol and Head in Hand

(Bloomberg – bloomberg.com – Ilya Khrennikov, Andrey Lemeshko – November 30, 2016) A staple drink of Russia’s recession comes in different flavors but it’s best consumed standing up. Food is optional. Not a beer country until the arrival a decade ago of a central European tradition of sit-down bars that married brews with hearty meals, Russia is now reveling in […]

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NEWSLINK CNN: “Dining under Putin: How sanctions are fueling a Russian food revolution”

Truck at Russian Border Crossing

“Import bans have failed to put the kibosh on Russia’s culinary inventiveness. Restaurants are returning to what Russia does best, such as traditional dishes made with root vegetables such as beetroot.”

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

Siberian River, Forest, Mountain

(Kremlin.ru – November 25, 2016) Vladimir Putin chaired a meeting of the Council for Strategic Development and Priority Projects to discuss support for non-resource exports and environmental development. President of Russia Vladimir Putin: Good afternoon, colleagues. Today we will look into measures to support non-resource exports and to improve the environmental situation in the country. We need to form a […]

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Russia Is Finally Making Headway In Its Pivot East

Asia Map

(Oilprice.com – Colin Chilcoat – November 22, 2016) Russia’s long planned pivot east found itself unexpectedly wrong-footed in early 2014, following the Crimean referendum and subsequent western rebuke. The global collapse of oil prices – and that of the ruble – later that same year further eroded Russia’s leverage in Asia. Fast forward to the present and we’ve seen substantially […]

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Kudrin’s 13 Points about What Russia Must Do to Overcome Its Backwardness

Alexei Kudrin file photo

(Paul Goble – Window on Eurasia – Staunton, November 21, 2016) At the conclusion of the All-Russian Civic Forum, Aleksey Kudrin, the head of the Civic Initiatives Committee, outlined his ideas about what Russia needs to do over the next 20 years to avoid disaster and return to modernization and democracy. Znak’s Dmitry Kolesev has organized them as 13 theses. […]

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Putin Optimistic About OPEC Deal, Russia Is Ready to Freeze

Oil Well file photo

(Bloomberg – bloomberg.com – Ilya Arkhipov – November 21, 2016) Russian President Vladimir Putin said he sees no obstacles to an OPEC agreement this month after oil exporters made major progress in overcoming differences as he reaffirmed Russia is willing to freeze crude output at current levels. “Whether an agreement will be reached, I can’t say 100 percent, but there’s […]

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RUSSIALINK RBTH/Gazeta.ru: “Kremlin turns to Jewish diaspora in bid to build ties with Donald Trump”

Donald Trump

“Seeking contacts with U.S. President-elect Donald Trump, the Russian leadership has turned to its connections in Jewish business circles, Gazeta.ru has learned. Despite accusations of xenophobia, Trump maintains good relations with the Jewish community and intends to involve his son-in-law Jared Kushner in his administration.”

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Cheapest Labor Since Tsars Ruled Russia a Draw for Samsung, Ikea

Truck at Russian Border Crossing

(Bloomberg – bloomberg.com – Olga Tanas, Ilya Khrennikov – November 16, 2016) Made in Russia and coming soon to a store shelf near you: washing machines, chewing gum and possibly much else. A combination of the country’s worst currency crisis since 1998 and an unprecedented slide in real wages for most of the past two years has resulted in salaries […]

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Trump’s Energy and Trade Policies May Hurt Russia More than Western Sanctions Do, Moscow Analysts Say

Donald Trump

(Paul Goble – Window on Eurasia – Staunton, November 10, 2016) Even though Vladimir Putin hopes that Donald Trump will end the sanctions regime against Russia, the president-elect’s commitment to protectionism, an expansion in US production of oil and gas and a re-industrialization of America “may have the most negative consequences for the Russian economy,” according to Moscow analysts. In […]

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Putin Wonders If Trump Win Might Just Be Too Good to Be True

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

(Bloomberg – bloomberg.com – Henry Meyer – November 10, 2016) It didn’t take long for Russia to roll out the red carpet for Donald Trump. Lawmakers burst into applause when Trump’s shock victory over Hillary Clinton was announced in the country’s parliament Wednesday. Minutes later, President Vladimir #Putin telegraphed his congratulations to the political neophyte who had gushed with admiration […]

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Russia hopes for good relations with U.S., but financial policy making to stay conservative – Siluanov

Anton Siluanov file photo

MOSCOW. Nov 10 (Interfax) – Russia is hoping to make progress in relations with the United States, but will make sure it is in a position to honor its commitments in any scenario by not factoring possible improvements into its financial policy, Finance Minister Anton Siluanov told reporters. “We pursue an economic and fiscal policy that does not and must […]

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NEWSLINK bne Intellinews: “What does a Trump presidency mean for Russia?”

File Photo of White House with South Lawn and Fountain

“Finally, the most divisive and disruptive election in modern US history is over: Donald Trump will occupy the White House for at least the next four years, starting in late January. The question that many in Russia and those who have or are considering investing in Russia are asking is, what does a Trump president actually mean for Russia risk?” […]

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NEWSWATCH: “World Bank Improves Russia Economic Outlook, Sees 1.5 Percent GDP Growth in 2017” – Reuters

World Bank Building

… the World Bank said …. Russian gross domestic product will contract by 0.6 percent … oil prices are projected to recover to an average of $55 per barrel in 2017 [and] the Russian economy is expected to bottom out in the second half of this year. The World Bank sees it growing by 1.5 percent in 2017 and 1.7 […]

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NEWSLINK Forbes/Sara Hsu: “Is A Russia-China Economic Alliance On The Horizon?”

Asia Map

“As Russia continues to contend with sanctions from the United States and European Union after annexing Crimea in 2014, it has cast its eye on a new ally: China. The two countries are already aligning themselves for security purposes, a prime example being their position against the U.S. missile shield deployment plans in South Korea. Both China and Russia have […]

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NEWSWATCH: “Russia’s oil output in October hits new post-Soviet era high” – Reuters

Oil Well file photo

Russia’s oil output set a new post-Soviet era record high in October, rising 0.1 percent from September to 11.2 million barrels per day (bpd), energy ministry data showed …. underscor[ing] the difficulty the government could have in freezing output levels as part of a global pact with other top producers [to impact prices] …. Oil and gas sales account for […]

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NEWSLINK Reuters: “Factbox: How Russia is ramping up its oil output in 2016-2017”

Oil Well file photo

… Putin, who has pledged to join a global pact to cap oil output, gave the green light on Monday to start production at a new Caspian Sea field owned by country’s No.2 oil producer Lukoil, the second launch in a week. Russian oil production is expected to reach 547 million tonnes this year (10.95 million barrels per day), rising […]

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The Beginning Of The End For Europe’s Natural Gas War

Gas Facility file photo

(Oilprice.com – Nick Cunningham – October 27, 2016) Russia’s Gazprom is on the verge of striking a deal with EU regulators to settle a half-decade old dispute over natural gas pricing, and the resolution could change the way Gazprom does business and lead to lower gas prices for much of Eastern Europe. The conflict began back in 2011 when EU […]

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NEWSWATCH: “Russia Welcomes Growing Wave of ‘Red Tourists’ From China. Nostalgia for Communist past as well as capitalist bargain-hunting draw more Chinese visitors.” – Wall Street Journal

Asia Map

Russia’s relations with the West have deteriorated amid the conflicts in Ukraine and Syria and its economy has been battered by punitive sanctions and low oil prices. But the country is welcoming record numbers of Chinese visitors, who are taking advantage of a weak ruble, visa-free group travel, and the opportunity to retrace Communist history. … More than 1.1 million […]

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U.S. Stuck With Nobody Left to Sanction in Russia Over Syria

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

(Bloomberg – bloomberg.com – Nick Wadhams – October 26, 2016) The U.S. put sanctions on Russia’s main arms exporter, Kremlin aides and the black leather-loving head of a motorcycle gang nicknamed “The Surgeon” after the 2014 invasion of Ukraine. Now, as Washington seeks ways to punish Moscow for its actions in Syria, it may be running out of options. President […]

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Russia’s Oil Industry Is Making The Most Of A Weak Ruble; Record Oil Production and Capital Spending Supported by Favorable FX Rate

Oil Well file photo

(Oilprice.com – October 21, 2016) While Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices, oil and natural gas companies have actually increased investments or only seen modest declines, according to the EIA. In ruble terms, the Brent price has actually increased by 40 percent from 2010 levels, while decreasing in […]

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Russia Shifts Focus From Oil To Agriculture

Oil Well file photo

(Oilprice.com – Michael McDonald – October 13, 2016) Michael MaDonald is an assistant professor of finance and a frequent consultant to companies regarding capital structure decisions and investments. Russia’s biggest industry has been oil production historically, but the country appears to be trying to diversify that by putting more emphasis on agriculture. The former soviet state has been relying on […]

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Exxon Has Lost Over $1 Billion From Russian Sanctions

Oil Well file photo

(Oilprice.com – Irina Slav – October 14, 2016) Exxon has turned into a collateral victim of the U.S. economic sanctions against Russia. So while supermajor BP’s chief executive Bob Dudley said earlier this week that he was “a little saddened” with the way the Deepwater Horizon movie has painted his company, Exxon’s Rex Tillerson has perhaps an even greater reason […]

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TRANSCRIPT: [Medvedev and Ulyukayev at] The 30th session of the Foreign Investment Advisory Council in Russia

File Photo of Dmitry Medvedev Before Gold Flag with Elaborate Design

(Government.ru – October 17, 2016) The participants discussed proposals to improve customs legislation and technical regulation, develop the banking and financial sectors, and increase investment in agriculture, the processing industry and pharmaceuticals production. Dmitry Medvedev’s opening remarks: The Foreign Investment Advisory Council, which was established in 1994, proved to be a good format in great demand and very useful for […]

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TRANSCRIPT: Vladimir Putin answered questions from Russian journalists

File Photo of Flags of BRICS Nations and BRICS Logo from Past Summit

(Kremlin.ru – October 16, 2016) The President of Russia answered questions from Russian journalists following the BRICS Summit. Question: Much is being said in the Western media about BRICS going through a rough patch. Since Brazil got a new president, the country has been allegedly thinking whether it needs BRICS. There is little secret about the tension that exists between […]

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If paid timely, Russia ready to supply Ukraine with gas it needs to safely go through winter – Russian energy minister

Gas Flame file photo

GOA, India. Oct 15 (Interfax) – Russia may ship the amount of natural gas to Ukraine that it is lacking to safely go through the upcoming winter if the Ukrainian partners have the necessary resources to pay for it, Russian Energy Minister Alexander Novak said. “We stand ready to fully ensure the transportation of gas [via Ukraine] to European consumers […]

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NEWSLINK Washington Post: “Please pass the Russian Parmesan: Cheesemakers celebrate sanctions, and hope they continue.”

File Photo of U.S. Dairy Cows

“… When Russian President Vladimir Putin banned most food imports from Europe in 2014 in response to Western sanctions, Russian dairy farmers rejoiced as deliveries of French and Italian cheeses ceased. Now, they believed, they could compete. Since then, they have tried to duplicate all sorts of famous varieties, from Camembert to Emmenthal. But one global delicacy remains largely beyond […]

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TRANSCRIPT: [Putin at] World Energy Congress in Istanbul

Offshore Oil Rig file photo

(Kremlin.ru – October 10, 2016) Vladimir Putin took part in a special session of the World Energy Congress. President of Russia Vladimir Putin: President Erdogan, presidents and colleagues, Mr Prime Minister, ladies and gentlemen, It is a great pleasure to have the opportunity to address such an authoritative international forum. I believe that in the current complicated global economic situation, […]

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RUSSIALINK Russia Today/RT: “Rosneft boss says no to output freeze or cut”

File Photo of Rosneft and Russian Flags Next to Rosneft Banner

“The man in charge of Russia’s largest oil company Rosneft is skeptical about a global crude production freeze or cut, despite President Putin’s pledge to cooperate with OPEC.”

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NEWSWATCH: “Oil hits one-year high as Russia ready to join output caps” – Reuters

Oil Well file photo

Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers. … “Russia is ready to join the joint measures to cap production and is calling for other oil exporters to join,” […]

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Russian economy’s mono-product era could end in 2028-2030 – Gref

File Photo of German Gref Shaking Hands with U.S. Official

MOSCOW. Oct 4 (Interfax) – The Russian economy might leave its mono-product era behind in 2028-2030, Herman Gref, the head of Sberbank (MOEX: SBER), said. “When might this mono-product era potentially end? In 2028-2030. The general feeling is and all the trends we have today indicate that there won’t be a repeat of the commodities super-cycle. We need to be […]

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Russia Smashes Post-Soviet Oil Supply Record as OPEC Weighs Curb

Oil Well file photo

(Bloomberg – bloomberg.com – Stephen Bierman, Julian Lee, and Dina Khrennikova – September 28, 2016) Russia, the world’s largest energy exporter, is on course to pump a post-Soviet record amount of oil in September, adding as much as 400,000 barrels a day to the country’s production. The output surge comes as OPEC nations meet in Algeria, with discussions to curb […]

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TRANSCRIPT: [Putin] Answers to journalists’ questions

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

(Kremlin.ru – September 5, 2016) Vladimir Putin answered Russian journalists’ questions following his working visit to China to take part in the G20 Summit. President of Russia Vladimir Putin: Good afternoon. Let’s dispense with opening remarks and get straight into the discussion. I will try to answer the questions of interest to you. Question: Mr President, this year, for the […]

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TRANSCRIPT: [Putin at] Eastern Economic Forum (excepts)

Asia Map

(Kremlin.ru – September 3, 2016) Vladimir Putin took part in the plenary session of the Eastern Economic Forum. This year, representatives of 35 countries applied to attend the forum. In total, delegations from 56 countries are taking part. President of Russia Vladimir Putin: Ms Park Geun-hye, Mr Shinzo Abe, friends, ladies and gentlemen. Welcome to Vladivostok, to the second Eastern […]

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TRANSCRIPT: [Putin] Interview to Bloomberg

Asia Map

(Kremlin.ru – September 5, 2016) Full text of Vladimir Putin’s interview to the international media company Bloomberg has been published. The interview was recorded on September 1, 2016, in Vladivostok. John Micklethwait: Mr President, thank you very much for speaking to Bloomberg. Here in Vladivostok we’re on the edge of the Pacific and on the eve of the second Eastern […]

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Russia Says Oil Output Freeze Not Needed With Price Near $50

Oil Wells File Photo

(Bloomberg – bloomberg.com – Elena Mazneva, Stephen Bierman – September 1, 2016) Russia sees no need for talks with other major oil exporters on freezing output with prices at around $50 a barrel, according to the Energy Ministry in Moscow. If prices fall, then Russia will consider resuming discussions, the ministry’s press service cited Energy Minister Alexander Novak as saying. […]

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