(Bloomberg – bloomberg.com – Claudia Carpenter – February 20, 2017) Russia overtook Saudi Arabia as the world’s largest crude producer in December, when both countries started restricting supplies ahead of agreed cuts with other global producers to curb the worst glut in decades. Russia pumped 10.49 million barrels a day in December, down 29,000 barrels a day from November, while […]
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A free trade area for the European Union, Russia and other states would have economic advantages for all sides involved, according to model-based calculations by the Ifo research institute. … The study admits that a free trade agreement of this kind is barely conceivable as long as the Ukraine conflict remains unsettled and Western sanctions against Russia are in place. […]
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The Russian economy will be on the positive side of growth even if the price of crude oil falls to $40 per barrel … [Central Bank Gov. Elvira Nabiullina] said. … The number of economic sectors expected to expand this year is not much greater than those in contraction, but losers are outnumbered. Much … depends on the price of […]
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“Russia has saved $4 billion since it began substituting imported products in response to the imposition of food embargoes by the U.S. and EU, the Agriculture Ministry says. But is this enough to encourage the future growth of production?”
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MOSCOW. Feb 9 (Interfax) – The U.S. Department of the Treasury’s decision to drop some restrictions imposed earlier on the issuance of licenses and permits to export computer technologies to Russia shows that the Donald Trump administration is consistent in its efforts to normalize cooperation with Russia, Nikolai Kovalyov, a State Duma deputy and former head of the Federal Security […]
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(Paul Goble – Window on Eurasia – Staunton, February 3, 2017) “Russophobia is so deeply rooted in European-American ideology,” Sergey Markov says, that Moscow doesn’t expect new US President Donald Trump to end all sanctions all at once but rather “in a clever fashion” that avoids problems for him and over a significant period of time. The words of Markov, […]
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“Oil prices will be hovering around $40-60 per barrel in 2017-2019, according to the Finance Ministry’s Main guidelines for 2017-2019 debt policy released on Monday.”
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“CEOs at Russian companies identify 13 of the biggest issues businesses face in 2017, from geopolitical concerns to climate change.”
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(Moscow Times – themoscowtimes.com – Matthew Bodner – February 2, 2017) In mid-December, with Donald Trump’s ascension to the presidency looming, former Republican congressman Jack Kingston flew to Moscow. Kingston, a senior Trump surrogate, was dispatched to liaise with American firms working in Russia. The topic on everyone’s minds was the U.S. sanctions imposed on Russia in response to its […]
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McDonald’s plans to open more than 50 restaurants in Russia this year and hopes to sign more franchising deals to expand in existing and new regions, the local unit’s chief executive said on Tuesday. The fast-food chain opened 73 restaurants in Russia last year, exceeding its forecast. Of the newly-opened restaurants, 65 are company-owned, Khamzat Khasbulatov, head of McDonald’s Russia, […]
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“… I have seen many U.S. presidents seek to engage … Russia. While it has never been easy, it was possible to find areas of common ground that increased the security of both sides — as long as the U.S. set clear objectives and stuck with them. … The sanctions are working. … Russia is interested in having sanctions removed. […]
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(Moscow Times – themoscowtimes.com – Matthew Bodner, Mikhail Fishman – January 27, 2017) No actor on the world stage was as publicly energized by the prospect of a Donald Trump presidency as Russia. At first glance, the support seemed entirely emotional. But there was also a rational interest: Trump was open to lifting sanctions, after all. Sanctions have had a […]
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One of Donald Trump’s first decisions as U.S. president was to pullout from the Trans-Pacific Partnership (TPP) agreement. This gives Russia and China a chance to jumpstart talks on setting up free trade areas with Asian partners. (Russia Beyond the Headlines – rbth.ru – KSENIYA ILYINSKAYA, SPECIAL TO RBTH – January 27, 2017) On his first day in office following […]
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(Bloomberg – bloomberg.com – Jennifer Epstein, Stepan Kravchenko – January 27, 2017) President Donald Trump is willing to consider removing U.S. sanctions against Russia when he has his first official discussion with Kremlin leader Vladimir Putin on Saturday, according to senior advisor Kellyanne Conway. “All of that is under consideration,” Conway said in a TV interview Friday on Fox News, […]
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“There are two Russias at the moment. The first is the evil “Putin’s Russia” that kills journalists, bombs civilians and invades other countries. Then there is “bull Russia”, where investors have been making fat profits ….”
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“US #Treasury secretary nominee Steven #Mnuchin said he is 100% committed to enforcing the #sanctions against #Russia, as he gave evidence during the #Senate #Finance Committee confirmation hearings on January 19. * * * … Relations between the two countries plunged to their lowest ebb since the Cold War in 2014 after Russia annexed Crimea and encouraged a separatist conflict […]
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(Bloomberg – bloomberg.com – Anna Andrianova – January 23, 2017) Untethering the #ruble helped #Russia ride out the biggest #oil downturn in a generation. But it’s left the world’s biggest energy exporter vulnerable to greater volatility in crude prices as #OPEC pushes output cuts. To address that, the Bank of Russia is preparing to wade back into the currency market […]
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“‘It’s time to discard the illusions that any sanctions imposed on our country would be lifted. Obviously, they are there to stay for a long time. And don’t lay your hopes on someone else’s elections,’ [Medvedev] said Sunday, in a speech addressing a United Russia party meeting in Moscow. …”
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(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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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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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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“… 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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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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(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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(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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(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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“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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(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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(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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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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(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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“… 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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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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(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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“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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(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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(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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(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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(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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“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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(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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(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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(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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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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“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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… 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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“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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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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… 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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(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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