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Tag Archive for Trade

EU opposes Russian oil and gas sanctions, considers targeting other sectors

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(Business New Europe – bne.eu – Concorde Capital – July 24, 2014) EU Energy Commissioner GYnther Oettinger opposes sanctions on Russian natural gas and oil but doesn’t rule out sanctions on energy technology and equipment, he told a July 23 press conference in Brussels, as reported by the UNIAN news agency. “I always spoke against

Ukraine update

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(Business New Europe – bne.eu – Tim Ash, Standard Bank – July 24, 2014) What is now clear on the ground is that Ukraine is at war, and with significant casualties suffered now by both sides on a daily basis – tens of lives lost almost daily now. The conflict is also causing very significant

RIA Novosti: Kiev Receives Russia’s Risk Assessment of Ukraine’s EU Association

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BRUSSELS, July 23 (RIA Novosti) – Kiev received Moscow’s list of potential risks that Ukraine’s association with the European Union could present to Russia’s economy, Ukraine’s Foreign Minister Pavlo Klimkin told journalists. “Just yesterday, we received Russia’s perception of the potential risks,” Klimkin said on Tuesday. Ukraine signed the agreement on its association with the

RIA Novosti: Russia to Protect Economy From Risks Posed by Ukraine’s EU Association

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MOSCOW, July 23 (RIA Novosti) – Moscow will have to resort to protective measures if Ukraine’s association deal with the European Union poses risks for the Russian economy, Russian Prime Minister Dmitry Medvedev said Wednesday. «We believe that the risks remain quite serious, especially concerning technical regulations and standards of sanitary and phytosanitary control. That’s

RIA Novosti: Medvedev Says US, EU Companies Clearly Show Intention to Continue Work in Russia

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MOSCOW, July 23 (RIA Novosti) – Moscow has received «clear signals» from US and European companies about their intention to continue work in Russia, Prime Minister Dmitry Medvedev said Wednesday. «We have received quite clear signals that European and American companies are set to continue work with Russian partners. Time is ripe now to use

Russian Billionaires in ‘Horror’ as Putin Risks Isolation

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(Bloomberg – bloomberg.com – Henry Meyer, Irina Reznik, Ilya Arkhipov – July 21, 2014) Russia’s richest businessmen are increasingly frantic that President Vladimir Putin’s policies in Ukraine will lead to crippling sanctions and are too scared of reprisal to say so publicly, billionaires and analysts said. If Putin doesn’t move to end the war in

Russia to Challenge U.S. Sanctions at WTO

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(Moscow Times – themoscowtimes.com – Mark Lammey – July 21, 2014) Russia is planning to complain to the World Trade Organization, or WTO, abou t sanctions imposed by the U.S. over Russia’s perceived failure to help de-escalate the ongoing crisis in Ukraine, media reports said. The U.S. on Wednesday let rip with its third and

How will new round of sanctions affect Russia?

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(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – July 18, 2014) The U.S. Department of the Treasury has included large Russian companies in its list of sanctions, including the main institute of development VEB (Vnesheconombank), the major oil company Rosneft, and several defense-industrial enterprises. Experts consider these to be the most serious

RIA Novosti: Medvedev Says U.S. Sanctions against Moscow Won’t Bust Russian Economy

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LIPETSK, July 18 (RIA Novosti) – US sanctions imposed on Russia are restraints but will not cripple the country’s economy, Russian Prime Minister Dmitry Medvedev said Friday. “This is a program of limiting our country, or as is accepted to say, restraining [Russia],” Medvedev told students at a metallurgical plant in Lipetsk. “Sanctions won’t cripple

RIA Novosti: Ukraine Predicts Bilateral Trade with Russia to Cease

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KIEV, July 18 (RIA Novosti) – Ukrainian Prime Minister Arseniy Yatsenyuk on Friday predicted that bilateral trade between Russia and Ukraine could come to a full stop over the complicated relations between the two countries and European sanctions imposed on Russia. “My prediction is the following: preparations reqired for an almost complete limitation of trade

Interfax: Most Ukrainian industrial production facilities will stop with severance of diplomatic ties with Russia – Federation Council members

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MOSCOW. July 16 (Interfax) – Members of the Russian Federation Council believe that Ukraine would experience grave socioeconomic consequences from the possible severance of diplomatic relations with Russia. Nikolai Ryzhkov, Federation Council member and the head of a public committee for support of the residents of southeastern Ukraine, described remarks by Ukrainian officials suggesting that

‘Isolating Russia’ in the Oil and Gas Sector

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(Gordon M. Hahn – gordon-hahn@sbcglobal.net – Analyst and Advisory Board Member, Geostrategic Forecasting Corporation, Chicago, Ill, geostrategicforecasting.com; Analyst, Rus Strategic Ltd., Prague, Czech Republic; Senior Researcher, Center for Terrorism and Intelligence Studies, Akribis Group, San Jose, Calif.) Since the Russia’s annexation of Crimea in March in the wake of the revolutionary takeover in Kiev in February,

Why Russia won’t start a trade war with Ukraine this time round

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(Business New Europe – bne.eu – COMMENT: Iana Dreyer of borderlex.eu – July 11, 2014) High-level officials from the EU, Ukraine and Russia are holding a trilateral meeting in Brussels on July 11 to address Russia’s concerns about how the free trade and association pact that Brussels and Kyiv signed in late June might have

RIA Novosti: Russia Hopes for Positive Outcome of Three-Way Talks on Ukraine’s EU Association – Minister

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BRUSSELS, July 11 (RIA Novosti) – Russia hopes that a three-party ministerial meeting to discuss Ukraine’s association with the European Union will produce a positive outcome, Russian Economic Development Minister Alexei Ulyukayev said Friday. Ulyukayev, Ukrainian Foreign Minister Pavlo Klymkin and European Commissioner for Trade Karel De Gucht will meet for three-party talks and bilateral

Moscow To Kyiv, Tbilisi, And Chisinau: EU Deals Will Cost You

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(RFE/RL – rferl.org – Daisy Sindelar – July 6, 2014) Russia has never hidden how it feels about neighbors forging closer ties with the European Union. So it was no surprise when Deputy Foreign Minister Grigory Karasin said there would be “grave consequences” for Ukraine when it signed a landmark deal on closer economic ties with Brussels on June

Concern in Russia as foreign tourist numbers slump

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(Russia Beyond the Headlines – rbth.ru – Viktor Kuzmin, special to RBTH – July 3, 2014) Tourist operators in Russia have expressed alarm at a substantial drop in the number of foreign visitors coming to the country in 2014. Key figures in the tourist industry speculate that the fall in tourist numbers may be a

RIA Novosti: U.S. sanctions a new kind of offensive weapon – Russia’s Ryabkov

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(RIA Novosti – Moscow, July 3, 2014) The US has turned the tool of sanctions into a new kind of offensive weapons. Russia will not get involved in this kind of arms race but has the right to seek ways to protect itself, Russian Deputy Foreign Minister Sergey Ryabkov has said. “It seems that the

RIA Novosti: US Exports to Russia Hit Record Levels in May Despite Sanctions

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MOSCOW, July 4 (RIA Novosti) – US exports to Russia rose 21 percent and reached a record high of $1.25 billion in May, according to the Bureau of Economic Analysis, an arm of the US Department of Commerce. During the same month, American exports to the EU and China increased by only 2.5 percent and

Why Putin Is in Trouble With 86% Approval

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(Bloomberg – bloomberg.com –  Evgenia Pismennaya, Henry Meyer, Brad Cook – June 27, 2014) One month he wins the Olympics and kudos from world leaders. The next he grabs Crimea and gets kicked out of their most exclusive club. Now he’s facing a recession with few tools to fight it save the public’s love. Even

Russians Suffer from Three Misconceptions about Western Sanctions over Ukraine, Analyst Says

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(Window on Eurasia – Paul Goble – Staunton, June 27, 2014) Russians must recognize that sanctions are “the new economic and political reality” in which they live and overcome three widespread and government-promoted misconceptions about such sanctions if the country is going to be able to cope with them as well as possible, according to

EU Association Agreements Not Seen as Threat to Russian Economy

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(Moscow Times – themoscowtimes.com – Gabrielle Tétrault-Farber – June 27, 2014) With Ukraine, Georgia and Moldova set to sign the economic sections of association agreements with the European Union on Friday, analysts say the deals will have minimal impact on the Russian economy but will further broaden the political schism between Russia and its neighbors.

Ukraine, EU sign free trade and association deal in Brussels

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(Business New Europe – bne.eu – COMMENT: Tim Ash of Standard Chartered – June 27, 2014) This is a landmark agreement for Ukraine, and will be transformational. Poroshenko has indicated that Ukraine aims for EU membership, but this is a long run goal – likely 10-15 years away, if then. Ukraine is realistic, and understanding

RIA Novosti: Candidate Status for Ukraine Difficult to Predict – EU Commissioner

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BRUSSELS, June 27 (RIA Novosti) – Ukraine’s chances of attaining candidate status for membership in the European Union are hard to predict, Stefan Fuele, EU Commissioner for Enlargement said. “We are not at the stage when we could even speculate about the candidate status. We just signed the association agreement, it needs to be ratified,

NEWSLINK: Ukraine Signs Trade Agreement With European Union

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["Ukraine Signs Trade Agreement With European Union" - New York Times - ANDREW HIGGINS and DAVID M. HERSZENHORN - June 27, 2014] The New York Times reports on Ukraine and the European Union reaching a sweeping trade deal, one that had been the original impetus for protests effectively upending the earlier Ukrainian regime of Viktor Yanukovych. Meanwhile, Russia

Follow the Money to Putin Inc. to See Why U.S. Struggles With Russia

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(Bloomberg – bloomberg.com – Alan Katz, Jesse Drucker, Irina Reznik – June 25, 2014) To see why U.S. economic sanctions against Russia are likely to have limited impact, follow the spending of a small Delaware-incorporated, Nasdaq-traded television company named CTC Media Inc. (CTCM) While CTC Media has a market capitalization of just $1.7 billion, it’s

U.S. Business Groups to Run Ads Attacking Fresh Russia Sanctions

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(Moscow Times – themoscowtimes.com – Anna Dolgov – June 26, 2014) Two main business lobbies in the U.S. plan to publicly challenge White House foreign policy regarding Russia by taking out advertisements in the nation’s top three newspapers to warn that imposing additional sanctions against Moscow will only harm U.S interests. The U.S. Chamber of

RIA Novosti: Ukraine, Moldova to Lose Billions over EU Association Deals

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MOSCOW, June 26 (RIA Novosti) – Ukraine and Moldova’s struggling economies could face multi-billion-dollar losses after signing association agreements with the European Union, Russian experts warn. “Countries that sign this association [deal] agree to fall in line with all EU directives, standards and technical regulations – and this is at their own expense. Even if

RIA Novosti: Russia to Contest West’s Unilateral Economic Sanctions in WTO

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ST. PETERSBURG, June 20 (RIA Novosti) – Moscow intends to refer the issue of unilateral economic sanctions imposed on Russia by the West to the World Trade Organization, Russian Prime Minister Dmitry Medvedev said Friday. “When the United States imposed on Russia sanctions that create negative consequences for foreign trade, we decided to challenge them

RIA Novosti: Legal Disputes Between Russia, Ukraine Better Than Force – Medvedev

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ST. PETERSBURG, June 20 (RIA Novosti) – Many legal disputes are expected to arise between Russian and Ukrainian companies, but arbitration processes are better than tyranny and the use of force, Russian Prime Minister Dmitry Medvedev said during a speech at the International Legal Forum in St. Petersburg Friday. “In the near future, there will

Ukrainian ‘Black Hole’ Weighs Heavy On European Business in Russia

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(Moscow Times – themoscowtimes.com – Delphine d’Amora – June 18, 2014) Politics took front stage at the flagship conference of the Association of European Business, or AEB, on Tuesday, where foreign companies with committed interests in Russia grappled with the economic fallout of the unfolding crisis in Ukraine. Business as something relatively immune to political

Russia Beyond the Headlines: Press Digest: Kiev’s position on gas payments is ‘blackmail’

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(Russia Beyond the Headlines – rbth.ru – Darya Lyubinskaya, special to RBTH – June 17, 2014) RBTH presents a selection of views from leading Russian media on the latest gas crisis between Moscow and Kiev, which culminated yesterday with Russia cutting off supplies to Ukraine after talks had once again reached a dead end. Kommersant

Gazprom’s EU customers not at risk for now

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(Business New Europe – bne.ru – Teneo Intelligence – June 17, 2014) Following the failure of negotiations on natural gas pricing and debt between Russia and Ukraine last weekend, Russian company Gazprom reduced supply volumes to Ukraine, the main transit country for gas delivered to Gazprom’s EU customers. However, Gazprom continues to deliver contracted amounts

RIA Novosti: Russia Ready to Review Ukraine’s Gas Debt, Scrap Prepayment Scheme – Energy Minister

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BRUSSELS, June 11 (RIA Novosti) – Russia will not introduce advance gas payments for Ukraine and review its gas debt downwards if Kiev pays off $2 billion of its gas debt by June 16 and clears arrears in full by June 26, Energy Minister Alexander Novak said Wednesday. “It was suggested to review the payoff

Putin’s China Deal Won’t Help Russian Economy Much, Moscow Experts Say

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(Window on Eurasia – Paul Goble – Staunton, June 5, 2014) The much-ballyhooed gas deal Vladimir Putin signed with Beijing will only have an “insignificant” impact on Russia’s economic development and state revenues, according to an analysis by experts at the Center of Development of the Moscow Higher School of Economics. Their 43-page report is

In a global economy, can Russia go it alone?

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(Russia Beyond the Headlines – rbth.ru – David Miller, special to RBTH – June 4, 2014) Russia is far more integrated into the world economy today than its Soviet predecessor was, making sanctions a more challenging proposition than when the Soviet Union faced them in the 1980s. The standoff over Ukraine has pushed tensions between

Ukraine still harbours doubts about benefits of EU deal

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(Business New Europe – bne.eu – COMMENT: Iana Dreyer of borderlex.eu- June 4, 2014) Ukraine and the EU are adamant both sides will sign the long-planned free trade and association deal. Yet President-elect Petro Poroshenko sowed confusion soon after his election May 25 when he asked for more time before putting pen to paper, highlighting

Sino-Russia gas deal represents a fundamental change

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(Business New Europe – bne.eu – COMMENT: Jacob Grapengiesser of East Capital – June 2, 2014) After ten years of haggling, Moscow and Beijing finally signed off on game-changing $400bn gas supply deal, under which Russia will at first supply 38bn cubic metres (cm) of gas to China over 30 years from 2018. Moscow and

St. Petersburg forum attracts foreign investors despite boycott

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(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – May 29, 2014) In spite of boycotts by CEOs of top global companies by the U.S. and a number of other Western nations, the St. Petersburg International Economic Forum, held on May 22-24 in Russia’s second city, saw contracts signed between U.S. firms and

EU proposed to repay to Gazprom half of Ukraine’s debt for April-May gas supplies as payment deadline nears

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(Business New Europe – bne.eu – May 29, 2014) Gazprom, which earlier sent a prepayment bill to Ukraine, will limit gas supplies on June 3 if Kiev does not pay the advance bill for June, Gazprom CEO Alexei Miller said Wednesday at a meeting of President Vladimir Putin with the government, Prime reported. According to

Despite Ukraine Crisis, Russia Pursues Eurasian Integration Dream

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(RFE/RL – rferl.org – Robert Coalson – May 28, 2014) It’s full steam ahead for the Moscow-backed Eurasian Economic Union — even as its prospective members express serious reservations. At the May 29 summit of Russia, Belarus, and Kazakhstan in Astana, the three are expected to sign a treaty to transform their tripartite Customs Union into a Eurasian Economic

Russia-China gas deal spells trouble for the dollar

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(Business New Europe – bne.eu – INVISIBLE HAND – Liam Halligan in London, Editor-at-Large of BNE – May 28, 2014) The St Petersburg International Economic Forum (SPIEF), now in its 18th year, was less well attended than usual. The absence of various US and Western Europe CEOs, responding to pressure from their governments following sanctions

RIA Novosti: Nestle, Mars Could Buy Poroshenko’s Candy Company for $1.5 Bln

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MOSCOW, May 28 (RIA Novosti) – Food giants Mars and Nestle have been tipped as favorites to buy Ukraine’s leading chocolate firm Roshen, currently owned by likely president-elect Petro Poroshenko, for as much as $1.5 billion. The candy-maker-turned-politician earlier vowed to sell his biggest asset if elected president, and summoned investment advisors and bankers to

Russia tests waters of WTO dispute settlement with EU complaints

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(Business New Europe – bne.eu – COMMENT: Jennifer Freedman of Borderlex – May 17, 2014) Less than two years after becoming a member of the World Trade Organization (WTO), Russia has filed two complaints with the dispute settlement body in Geneva that target the EU, Russia’s main trading partner. These complaints concern antidumping duties and

Putin is risking the engine of Russia’s economy

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(Business New Europe – bne.eu – COMMENT: Lord Peter Mandelson of Global Counsel – May 27, 2014) Peter Mandelson was European Trade Commissioner between 2004 and 2008. He is now Chairman of Global Counsel Despite Russia’s recent underperformance, the size and potential of its economy has made it an attractive prospect for global companies. From

Interfax: Western sanctions haven’t yet affected Russian economy – Medvedev

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MOSCOW. May 26 (Interfax) – Russia has not yet felt the effect of the West’s sanctions, but if they are applied to whole sectors of the Russian economy, European businesses will be harmed equally, Russian Prime Minister Dmitry Medvedev said. “The effect of the sanctions on the Russian economy is absolutely minimal at the moment,

Interfax: Visa, MasterCard to continue operating in Russia – Siluanov

File Photo of Stack of Credit Cards, adapted from image at fdic.gov

(Interfax – May 20, 2014) The payment systems Visa and MasterCard will continue operating in Russia, Finance Minister Anton Siluanov told Interfax on Tuesday. “We can’t abandon these systems since over 90 percent of those who use payment systems work with them,” he said. He did not say how the problem would be resolved with

Welcome to a multipolar world

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(Business New Europe, MOSCOW BLOG – bne.eu – Ben Aris in Moscow – May 19, 2014) The shouting match between west and east continues, but the Russian stock market was surging on May 19, a day before Russian President Vladimir Putin was due to arrive in China, where he is expected to sign a string

Interfax: Georgia can have free trade regime with EU and Russia – Abashidze

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TBILISI. May 14 (Interfax) – Zurab Abashidze, the Georgian prime minister’s special representative on relations with Russia, said he sees no obstacles to Georgia’s having a free trade zone both with the European Union and Russia. “There is no contradiction in Georgia’s having a free trade regime with the European Union and the same privileged

RIA Novosti: EU Embargo on Russian Gas Would be Catastrophic for Eastern Europe – Nexant

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WASHINGTON, May 14 (RIA Novosti) – A complete European embargo on Russian gas imports would lead to an energy catastrophe in eastern European countries, an expert from San-Francisco based Nexant told RIA Novosti on Wednesday. Bulgaria, Macedonia, Slovakia, Finland, Bosnia and Herzegovina could be completely cut off by Western countries if they no longer serve

RIA Novosti: China-Russia-US Bering Strait Railroad Plan ‘Feasible’

Polar Map of Major Rail Lines in Russia, Canada and United States, With Hypothetical Additional Route Drawn In Connecting Them Across Bering Strait

WASHINGTON, May 13 (RIA Novosti) – A Chinese plan to build a high-speed rail line connecting China to the United States via Russia and Canada is entirely feasible, but it remains to be seen if the US and Russia can cooperate amid the Ukrainian crisis, US rail expert Hal Cooper told RIA Novosti. Cooper, of

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