RIA Novosti: US to ‘Roll Back’ Sanctions Against Russia if It Fulfills Minsk Agreement

File Photo of Vladimir Putin and Barack Obama Seated with Flags Behind

WASHINGTON, October 3 (RIA Novosti) – US ready to lift some of the sanctions against Russia if the ceasefire agreement reached in Minsk is observed, US Assistant Secretary of State, Victoria Nuland stated. “When the Minsk agreement is fully implemented, we can and will begin to roll back some sanctions. It is in Russia’s hands when that day comes,” Nuland […]

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Interfax: Expansion of Russian cooperation in China not end of relations with Europe – Putin

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MOSCOW. Oct 2 (Interfax) – Russia has no intention of ending its relations with its traditional partners, including Europe, and expansion of cooperation with China is a global trend, Russian President Vladimir Putin said. “Russia is also thinking about expansion of cooperation with China, and it didn’t begin thinking about it yesterday or due to some sanctions or political restrictions. […]

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Interfax: Envoy Chizhov: European Commission starts to weigh Russian concerns over EU-Ukraine free trade

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BRUSSELS. Sept 30 (Interfax) – Russia is awaiting the European Commission’s proposal to lift its concerns about the enforcement of the EU-Ukraine Deep and Comprehensive Free Trade Agreement (DCFTA), Russian Permanent Representative to the European Union Vladimir Chizhov told reporters. “The decision of the European Council was anticipated and quite consistent with the agreement reached in the Russia-Ukraine-EU trilateral format […]

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15 Global Firms Hit by Russia’s Law Limiting Foreign Ownership of Media

File Photo of Russian Television Studio

(Moscow Times – themoscowtimes.com – September 29, 2014) Russia’s law limiting foreign ownership of media in Russia to 20 percent will overturn the country’s media scene. Foreign companies have been at the forefront of developing media in Russia since the early 1990s. They own stakes in hundreds of newspapers, magazines and television stations. Under the law passed by Russia’s parliament […]

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Business New Europe: Russia has eager new oil and gas customers in Asia

Gas Facility file photo

(Business New Europe – bne.eu – Chris Weafer of Macro-Advisory – September 25, 2014) Chris Weafer is Senior Partner at Macro-Advisory, which offers bespoke Russia-CIS consulting. The main focus of Western sanctions against Russia has been to cause disruption to the banking and oil sectors. The former has directly squeezed the availability of liquidity on the domestic interbank market and […]

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Russia needs reforms, not a sanctions war

File Photo of Cash, Coins, Line Graph

(Russia Beyond the Headlines – rbth.ru – Vladimir Mau, special to RBTH – September 24, 2014) Vladimir Mau is the rector of the Russian Presidential Academy of the National Economy and Public Administration. Mutual sanctions are always extremely unpleasant, and the application of sanctions and the “hot” trade war between Russia, Europe and the United States can have no good […]

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Moscow Times: Ukraine Crisis Halves Number of U.S. and EU Tourists Visiting Russia

File Photo of Airplane Approaching Runway About to Land

(Moscow Times – themoscowtimes.com – September 10, 2014) Russian travel agencies say 40 to 60 percent fewer European and U.S. holiday makers came to Russia in the first half of this year than in the same period of 2013, while three times fewer Russian tourists went abroad, a trend they attribute to bad blood between Russia and the West over […]

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Interfax: Sanctions against Russia already affecting production of tight reserves, could impact shelf

Oil Worker file photo

KHANTY-MANSIISK. Sept 10 (Interfax) – The sanctions imposed by the EU and U.S. against Russia are already affecting the production of tight reserves, Russian Natural Resources Minister Sergei Donskoi said at a briefing in Khanty-Mansiisk. “The sanctions, first due to technology, have not yet impacted [the country’s economy], but are already affecting the production of tight reserves. As a rule, […]

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Business New Europe: Russia demands sweeping changes to Ukraine’s association agreement with EU

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(Business New Europe – bne.eu – September 10, 2014) Moscow wants amendments to five vectors of Ukraine’s association agreement with the European Union, according to liberal Ukrainian paper Zerkalo Nedeli. The amendment would see as much as 20% of goods excluded from free trade between EU and Ukraine. This would require renegotiation of the agreement that could take at least […]

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Interfax: State obligation is to defend business from illegitimate actions of foreign countries, companies – Medvedev

File Photo of Dmitry Medvedev Before Gold Flag with Elaborate Design

GORKI. Sept 9 (Interfax) – The state will continue to provide support to Russian business amid the Western sanctions, Russian Prime Minister Dmitry Medvedev said during a meeting with NOVATEK (MOEX: NVTK) CEO Leonid Mikhelson. “You can have no doubt that in the face of such unfair actions the state has always supported and will support Russian business,” Medvedev said. […]

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Consumers Stay Away From Moscow’s Malls as Sanctions Deepen Russia’s Slump

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – September 9, 2014) Nearly 25 percent fewer people visited Moscow’s malls in the week leading up the start of the school year than in the same period of 2013, a survey said, indicating that Western sanctions and an economic slowdown are hitting Russian consumer demand. A report by consumer market research firm Watcom cited by […]

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Interfax: Russia dramatically reduces imports of sanctioned products from non-CIS in August

Truck at Russian Border Crossing

MOSCOW. Sept 9 (Interfax) – Russia dramatically reduced imports of products that are under the food embargo in August compared with July. The food embargo was imposed on August 7, 2014. According to the Federal Customs Service (FCS), vegetable, dairy, poultry and pork supplies declined the most dramatically. So, in August the cost of imports of vegetables amounted to $35.3 […]

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Moscow Times: New EU Sanctions to Inflict Long-Term Pain

Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Howard Amos – September 5, 2014) The Russian business world is braced for the European Union’s unfurling of a fresh round of economic sanctions on Friday, with analysts predicting that Russia’s $2 trillion economy will be squeezed even tighter while its companies face isolation from international markets. A peace plan sketched out by President Vladimir […]

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Poll: Most Russians Would Sacrifice Booze and Cigarettes to Hurt West

(Moscow Times – themoscowtimes.com – September 4, 2014) More than 70 percent of Russians would ban imports of booze and cigarettes from Western countries in retaliation for sanctions, but few would give up foreign cars or pay an additional tax on vacations abroad, a recent poll indicated. Other popular measures included blacklisting foreign hotels (supported by 77 percent) and banning […]

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Business New Europe/RIA Novosti: European Commission to level new sanctions on Friday

Truck at Russian Border Crossing

(Business New Europe – bne.eu/RIA Novosti – September 3, 2014) The European Commission suggests limiting Russian state-owned companies’ access to European capital markets, as it prepares to possibly impose new tougher sanctions on Russia at a meeting on Friday, September 5. According to agency statements, the new economic sanctions against Russia, proposed by the European commission, include limiting the access […]

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RIA Novosti: Russian Finance Ministry Expects Oil Prices of $90-95 per Barrel in 2015

Oil Well file photo

MOSCOW, August 26 (RIA Novosti) – Russia’s Ministry of Finance expects an average oil price of $90-95 per barrel in 2015, Deputy Finance Minister Alexei Moiseyev told RIA Novosti on Tuesday. “The price for oil in 2015 will be $90-95 per barrel,” Moiseyev said. The Ministry of Economic Development earlier predicted an average oil price of $100 per barrel over […]

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Interfax: Russia could lose over 100 billion rubles from EU-Ukraine association – Putin

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MINSK. Aug 26 (Interfax) – The association agreement signed between the European Union (EU) and Ukraine could cost Russia billions and force it to introduce protective measures, said Russian President Vladimir Putin. “Due to Ukraine adopting zero duties on EU imports (which is to take effect almost immediately after the ratification of the agreement and will affect 98% of the […]

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As Russia and U.S. Struggle, China Rejoices

China Map

(Moscow Times – themoscowtimes.com – Alexander Panin – August 25, 2014) With multi-billion dollar energy deals between Moscow and Beijing recently being pushed through, China, the world’s second-biggest economy, is benefiting the most from the spiraling tension between Russia and the West over the violence in Ukraine. Hungarian Prime Minister Viktor Orban earlier this month compared the European Union’s sanctions […]

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Russian consumers hardest hit by sanctions

File Photo of U.S. Dairy Cows

(Russia Beyond the Headlines – rbth.ru – Kira Tverskaya, special to RBTH – August 19, 2014) Economists point out that the Russian government’s recent food ban is likely to backfire as restaurants and consumers look for new sources for favorite products Moscow’s home cooks and restaurateurs alike have spent the past two weeks scrambling to find new sources for the […]

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Moscow’s Food War With West Could Hurt Russia Most

File Photo of U.S. Dairy Cows

(RFE/RL Explainer – rferl.org – Charles Recknagel – August 21, 2014) Moscow’s sweeping ban on food imports is meant as a slap in the face to Western powers for imposing sanctions on Moscow over Ukraine. But the ban is also causing food prices to rise in Russia, which is a major importer of food and has few immediate supply alternatives. Here are four things to know […]

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Ukraine’s Next Crisis? Economic Disaster

Maidan Square file photo

(Oilprice.com – Robert Bensh – August 18, 2014) Ukraine’s next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production. The Ukrainian military’s showdown with separatists in the industrial east has forced coal mines to severely cut […]

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Moscow Times: Putin’s Food Ban Splits EU on Wisdom of Russia Sanctions

File Photo of U.S. Dairy Cows

(Moscow Times – themoscowtimes.com – Alexander Panin – August 18, 2014) The European Union’s united front on Russia sanctions seems to be buckling, as Eastern European countries hit hardest by Moscow’s retaliatory food import bans begin to question the wisdom of wrecking their economies in the name of a strategy that has seen the crisis in Ukraine only escalate. Hungarian […]

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Russian Farmers Will Need Years to Fill Gaps Left by Food Ban

File Photo of U.S. Dairy Cows

(Moscow Times – themoscowtimes.com – Delphine d’Amora – August 15, 2014) Russian politicians have declared the recent bans on Western imports a golden opportunity for Russian agriculture – but farmers and economists warn that upping production is a question of years, not months, and closing the market will not be enough to solve its problems. Against a background of international […]

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Interfax: EU ready to cancel Russia sanctions if situation in east Ukraine stabilizes – Usackas

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MOSCOW. Aug 15 (Interfax) – The European Union would not want to continue the sanctions policy regarding Russia and is not ruling out the possibility of canceling the existing measures if the situation in eastern Ukraine stabilizes. “When clear results in terms of stabilizing the situation in eastern Ukraine appear, of course, the EU will be ready to consider the […]

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Interfax: VTsIOM: Western sanctions unnoticed by over 90 percent of Russians

Truck at Russian Border Crossing

(Interfax – August 15, 2014) Most Russians are aware of sanctions imposed on their country but the sanctions seem to have gone unnoticed by an overwhelming majority, sociologists told Interfax. Some 92 percent of the respondents said the Western sanctions had not harmed them, 4 percent spoke about a price rise and the others mentioned the freeze of accounts, the […]

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Business New Europe: Sanctions “unbearable” for EU, will be cancelled in 3 months

File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – Danske Bank – August 13, 2014) We analyse the economic and financial impact of the Ukrainian crisis with a special focus on our footprint Nordic markets. We view the situation in Ukraine as far from de-escalating as fighting continues in Donetsk and Lugansk, which we expect to weigh on market sentiments near term. However, […]

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RIA Novosti: No Grounds for Food Price Hikes in Russia – Deputy Prime Minister

Arkady Dvorkovich file photo

MOSCOW, August 13 (RIA Novosti) – Russian Deputy Prime Minister Arkady Dvorkovich said Wednesday that a possible food shortage and a resulting imbalance in food prices that could occur in the country’s westernmost exclave could easily be compensated by Belarus. “There is a case in particular [of price imbalance] and that’s the Kaliningrad region, which is extremely close to Belarus, […]

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Kremlin Undergoing Major Renovation to Lure Tourists

Aerial View of Kremlin and Environs

(Moscow Times – themoscowtimes.com – Anna Dolgov – August 12, 2014) The Kremlin’s historic building complex in the heart of Moscow is undergoing a series of changes to make it more accessible to tourists, and the presidential administration’s unused offices may be torn down to restore the world heritage site’s “historic look.” Most of the presidential administration has already been […]

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RIA Novosti: Russia not planning to close air transit route across Siberia – minister

File Photo of Airplane Approaching Runway About to Land

(RIA Novosti – August 11, 2014) Russia is not planning at present to stop western airlines from flying across Siberia, Transport Minister Maksim Sokolov has said. “Do not worry, there is no decision being taken on this just yet,” he replied when asked by journalists, RIA Novosti news agency reported on 11 August. The newspaper Vedomosti reported last week that […]

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Russian Foodies React To Import Ban With Patriotism, Some Gloom

File Photo of U.S. Dairy Cows

(RFE/RL  – rferl.org – Tom Balmforth – MOSCOW, August 7, 2014) Moscow’s upmarket food shoppers are reacting variously with patriotic approval and gloomy resignation at the prospect of going without some of their favorite foreign foods for a year. The Russian government on August 7 approved a lengthy shopping list of foods and produce that cannot be imported from countries that have imposed […]

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RIA Novosti: Russia to Use All Possible Measures in WTO to Contest Sanctions – Putin’s Press Secretary

WTO Logo

SOCHI, August 11 (RIA Novosti) – Kremlin spokesman Dmitry Peskov said Moscow has a wide range of possible responses to Western sanctions under the rules of the World Trade Organization that can be used by any member. “There is a whole range of measures and defined tools within the WTO which, of course, each WTO member state has the right […]

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RIA Novosti: Ukrainian Transit Not Crucial For Russian Oil Deliveries to Europe – Transneft

Map of Western CIS/FSU and European Environs

MOSCOW, August 8 (RIA Novosti) – Russia has alternative routes to deliver oil to Europe if Ukraine decides to stop transit via its territory, but Hungary, Slovakia and Czech Republic will sustain losses, a spokesman for Russia’s oil transit monopoly Transneft said Friday. Russia delivers about 14 million tons of oil to European consumers via the Druzhba pipeline laid through […]

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RIA Novosti: Russia’s Food Embargo ‘Smart’ Response to Western Sanctions – U.S. Economist

File Photo of U.S. Dairy Cows

WASHINGTON, August 7 (RIA Novosti), Lyudmila Chernova – Russia’s food embargo is a smart move on Moscow’s part that is set to show the United States and its allies that Russia is not going to give in to Western pressure, an American economist and co-director of a US-based research center told RIA Novosti Thursday. “It is smart of Moscow to […]

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Interfax: Naryshkin hopes Europe will understand risk of unwinding sanctions spiral

Russian State Duma Building file photo

MOSCOW. Aug 8 (Interfax) – Russia’s response to the anti-Russian measures taken by the West was forced and further unwinding of the “sanctions spiral” is absurd and dangerous, Russian State Duma Speaker Sergei Naryshkin said. “As to the measures taken by Russia on the countries that initiated or support anti-Russia sanctions, they are a response aimed at protecting our citizens […]

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Interfax: Embargoed countries supply over 10% of Russia’s pork, fish and fruit, less of other foods

Truck at Russian Border Crossing

MOSCOW. Aug 7 (Interfax) – The countries from which Russia has just banned food imports supply over 10% Russia’s pork, fish and fruit, Agriculture Minister Nikolai Fyodorov told a briefing. Russia consumes 2.345 million tonnes of beef, but the embargoed suppliers, the EU, United States, Australia, Norway and Canada supply 59,000 tonnes of this. The figures for pork are 3.415 […]

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Interfax: Proposal to ban Western airlines from using trans-Siberian routes is “on the table” – Medvedev

Dmitry Medvedev file photo

MOSCOW. Aug 7 (Interfax) – Russian Prime Minister Dmitry Medvedev has said that Russia is considering a potential ban on European and U.S. air carriers using trans-Siberian routes as a possible retaliatory step against Western sanctions targeting Russia’s low-cost airline Dobrolet. “The government of the Russian Federation is considering a number of retaliatory steps. But it does not mean that […]

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Sanctions Would Ground Russia’s Major Airlines

File Photo of Airplane Approaching Runway About to Land

(Moscow Times – themoscowtimes.com – Alexander Panin – August 7, 2014) The grounding this week of Russia’s low-cost airline, Dobrolyot, by European Union sanctions has exposed the vulnerability of Russia’s airline industry, which relies on aircraft leased from abroad that can be withdrawn at the push of a pen in Brussels or Washington. Russian airlines lease 90 percent of their […]

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RIA Novosti: “Russia Hopes Economic Pragmatism to Prevail Over ‘Ridiculous’ Decisions Taken by West”

Dmitry Medvedev file photo

MOSCOW, August 7 (RIA Novosti) – Moscow hopes that economic pragmatism will guide political decisions taken by the West, Russian Prime Minister Dmitry Medvedev said Thursday after announcing a sweeping ban on food imports from countries that sanctioned Russia. “I sincerely hope that the economic pragmatism of our Western partners will prevail over ridiculous political ideas and they would start […]

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Moscow Times: Who Is Benefiting From West-Russia Sanctions War?

Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Alexey Eremenko – August 6, 2014) The recent Western sanctions, the harshest in decades, are meant to stun Russia’s economy. But one person’s loss is another one’s gain – and this is also true for companies and countries in a globalized world. Following the U.S.’s example, the European Union last week imposed broad economic sanctions […]

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RIA Novosti: Russia believes West will continue sanctions – top diplomat

Truck at Russian Border Crossing

(RIA Novosti – Moscow, August 4, 2014) Moscow believes that Western countries will continue to exert pressure on Russia by means of sanctions, Russian Deputy Foreign Minister Sergey Ryabkov has said. “I think, there is a real threat which one should not underestimate: that the itch of sanctions won’t end with this [i.e. the current sanctions]. They will scratch it […]

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Sanctions on Technology Imports Leave Russia Playing Catch Up

Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Alexander Panin – August 4, 2014) The impact of the EU’s latest and harshest sanctions on Russia will be felt most keenly in the country’s economic sectors that are largely dependent on state-of-the-art Western technology, ranging from the extraction of hydrocarbons to civil aircraft production, analysts said. The European Union late last week officially approved […]

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White House Transcript: Press Conference by the President [excerpt]

White House

The White House Office of the Press Secretary For Immediate Release August 01, 2014 Press Conference by the President [excerpt] James S. Brady Press Briefing Room THE PRESIDENT: Look, this is a common theme that folks bring up. Apparently people have forgotten that America, as the most powerful country on Earth, still does not control everything around the world. And […]

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EU Arms Embargo: A Shot Across the Bow of Russia’s Defense Industry

EU Map

(Moscow Times – themoscowtimes.com – Matthew Bodner – August 1, 2014) The West’s latest round of sanctions on Russia will not have much immediate impact on the county’s defense industry, but they do have the potential to strike a blow to Russia’s 23 trillion ruble ($646 billion) military modernization drive, analysts say. The European Union on Thursday formally banned the […]

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New Western Sanctions May Severely Hurt Russian Economy

File Photo of Cash, Coins, Line Graph

(RFE/RL – rferl.org – Charles Recknagel – July 30, 2014) The latest round of EU and U.S. sanctions over Ukraine will restrict Moscow’s access to what Russia arguably needs most: Western financing and new technology. Here are five things to know about the sanctions and their impact. How much could the sanctions hurt Russia? This batch of sanctions comes at […]

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Russia Beyond the Headlines Press Digest: U.S. and EU sanctions are pushing Moscow toward Beijing

Collage of Russian Newspapers

(Russia Beyond the Headlines – rbth.ru – Sofia Savina, special to RBTH – July 30, 2014) RBTH presents a selection of views from leading Russian media on the latest developments in Ukraine, featuring widespread reaction to the imposition of yet another wave of sanctions against Russia by the U.S. and the EU, as well as news of Russian aviation experts’ […]

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Russia Beyond the Headlines: Russians less afraid of sanctions

File Photo of Cash, Coins, Line Graph

(Russia Beyond the Headlines – rbth.ru – Kira Egorova, RBTH – July 30, 2014) A new survey shows that the number of Russians concerned about economic restrictions imposed by the West is steadily decreasing A new poll from the Levada Center has revealed that Russians are becoming less afraid of sanctions. The most recent survey, conducted between July 18-21 after […]

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RIA Novosti: Flight MH17 is Trump Card in US’ Information War with Russia

File Photo of Vladimir Putin and Barack Obama Seated with Flags Behind

(RIA Novosti – Ekaterina Blinova – July 25, 2014) Praising the ruthless military operation by Kiev against both armed rebels and unarmed civilians, American neocons have also been inciting Washington to launch wide-raging economic warfare against Russia in recent months. Thus, unsurprisingly, when the Ukrainian government released information on the Malaysia Airlines flight MH17 catastrophe, the US media hastened to […]

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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 including energy supplies of Russian […]

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Ukraine update

Ukraine Map and Flag

(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 disruption and costs to the […]

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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 EU on June 27. Russia […]

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