Category: Sanctions

Russia Beyond the Headlines: Beijing and Brisbane meetings see Russia boost economic ties with BRICS

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Sanctions
File Photo of Flags of BRICS Nations and BRICS Logo from Past Summit

(Russia Beyond the Headlines – rbth.ru – Nikolay Surkov, Gevorg Mirzayan, RBTH – November 24, 2014) The recent APEC and G20 summits yielded important dialogue between Moscow and the West on the Ukrainian crisis and a further strengthening of ties between Russia and its BRICS partners, though relations with West remain strained, as global media were keen to emphasize. Russian […]

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Interfax: Russian Investigations Committee drafts measures to slow down capital flight

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

(Interfax – November 24, 2014) Russian Investigations Committee has prepared its own proposals allowing to “considerably slow down” the capital flight from Russia, the committee’s head Aleksandr Bastrykin has said, as reported by privately-owned news agency Interfax on 24 November. “We are so wealthy and powerful that we will be able to cope with problems caused by sanctions that are […]

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Russia pivots East – or is it just playing the field?

China, Sanctions
China Map

(Business New Europe – bne.eu – Ian Ivory of Goltsblat BLP – November 24, 2014) Ian Ivory is an English qualified solicitor and Partner at Goltsblat BLP, the Russian Practice of Berwin Leighton Paisner (BLP), an award-winning international law firm. Ian is a fluent Russian speaker and regularly represents both Russian and international corporations on a range of business transactions. […]

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Unnecessary Sacrifice

Agriculture, Economy, Business, Investment, Trade, Sanctions, Ukraine, Russo-Ukrainian War
File Photo of U.S. Dairy Cows

(Institute of Modern Russia – imrussia.org – Alexander Podrabinek – November 24, 2014) Prominent Russian journalist, writer and human rights activist. His articles appeared in Novaya Gazeta, Ezhenedelny Journal (Ej.Ru), Grani.Ru, et al. He is a regular guest at Ekho Moskvy radio station. Podrabinek is also a well-known Soviet dissident and former political prisoner. In 1977, he published a book […]

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NEWSLINK: Russia puts losses from sanctions, cheaper oil at up to $140 billion/year

Economy, Business, Investment, Trade, Oil, Gas, Energy, Russia & the West, Sanctions, Ukraine, Russo-Ukrainian War
Anton Siluanov file photo

[“Russia puts losses from sanctions, cheaper oil at up to $140 billion/year” – Reuters – Nov. 24, 2014] Reuters reports on Russia’s claims about the extent to which Western sanctions and lower oil prices are impacting the Russian economy. The assertions were made by Russian Finance Minister Anton Siluanov at a Monday press conference. Lower oil prices and Western financial sanctions […]

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Interfax: Kudrin suggests five steps towards effective Russian economy amid sanctions

Economy, Business, Investment, Trade, Sanctions
Alexei Kudrin file photo

(Interfax – November 21, 2014) Russia may see a growth and develop every sphere of public life even under the sanctions, said Committee of Civil Initiatives Chairman Alexei Kudrin. “There is always a wish to have a simple recipe: five steps that can make a great change. I have to admit there is no such recipe. Systemic transformations will require […]

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VIDEO: Is Putin intentionally provoking the West?

Economy, Business, Investment, Trade, Europe, EU, Politics, Government, Protests, Elections, Russia & the West, Sanctions, United States, U.S.-Russian Relations
File Photo of Vladimir Putin Sitting at Desk

PBS News Hour interviews Russia scholar Kimberly Marten about Russia’s unfolding relations with the West. [click here for transcript] Said Marten: I think part of what’s going on is that Putin is trying to take attention off of the problems that the Russian economy is facing.  The sanctions are working much better than … predicted … they’re having real impact on the Russian oil industry … one […]

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Sanctions Affect Half Of Russia’s Banking Sector, Report Says

Economy, Business, Investment, Trade, Sanctions
Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – November 19, 2014) Russian banks are the most vulnerable among the world’s large emerging market economies due to Western sanctions and near zero levels of economic growth, a Standard & Poor’s report released Wednesday said. Sanctions directly affect more than 50 percent of Russia’s banking sector, which is dominated by state financial institutions, the report […]

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Interfax: Putin says discussing anti-Russian sanctions at G20 summit useless

Economy, Business, Investment, Trade, Sanctions
Truck at Russian Border Crossing

MOSCOW. Nov 14 (Interfax) – Russian President Vladimir Putin says it would be useless to initiate a discussion of anti-Russian sanctions at the G20 summit in Australia and denies cooling in relations with German Federal Chancellor Angela Merkel. “If the subject [of sanctions] is raised, I will speak about it, of course, but I am not going to raise these […]

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Interfax: Russian church leader calls on people to join forces amid sanctions

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Religion, Sanctions
Patriarch Kirill file photo

(Interfax – November 4, 2014) Patriarch Kirill of Moscow and All Russia has criticized the West over attempts to play havoc with the minds of the Russian people through the sanctions it had imposed against Russia, Gazprom-owned Russian TV channel NTV reported on 4 November. “One should make the economic situation worse to play havoc with minds. We are now […]

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U.S. Midterms Raise Fears of Decades-Long Russia Sanctions Law

Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
File Photo of U.S. Capitol in Bright Sunlight

(Moscow Times – themoscowtimes.com – Howard Amos – November 1, 2014) Concerns are rising among U.S. businesses in Russia that Washington lawmakers could move to enshrine sanctions on Russia in new legislation, extending their impact and delaying their repeal. The Senate Foreign Relations Committee unanimously passed such a legislative proposal last month and analysts warn the measure is more likely […]

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Russians are not bothered by Western sanctions

Russia & the West, Sanctions
Truck at Russian Border Crossing

(opendemocracy.net – Vasil Jaiani – October 27, 2014) Vasil Jaiani is a senior management analyst for the government of the District of Columbia. Sanctions have had a limited effect on the Russian population whose support towards the government’s Ukrainian policy does not seem to be eroding. [Charts here opendemocracy.net/od-russia/vasil-jaiani/russians-are-not-bothered-by-western-sanctions] Russia’s economy is not in meltdown, but it has been suffering […]

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RIA Novosti: EU-Russia Sanctions: No One Wants to Show They are Giving in First

Europe, EU, Sanctions
Truck at Russian Border Crossing

MOSCOW, October 29 (RIA Novosti) – The anti-Russian sanctions imposed by the European Union will not be scaled back or rescinded in the immediate future. They’re likely to be in effect until mid-March of next year, an EU diplomatic source told RIA Novosti. But as Nigel Kushner, the CEO of W Legal, an international law firm that specializes in sanctions, […]

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How Slumping Oil Prices Hit Russia’s Sanctions-Struck Oil Industry

Oil, Gas, Energy, Sanctions
Oil Well file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – October 29, 2014) Three screws are tightening on Russia’s oil industry. International banks are calling in multibillion-dollar loans and refusing new ones due to sanctions on Moscow over Ukraine. Western oil companies are barred from handing over advanced drilling technology, also due to sanctions. And, unexpectedly, the oil price has slumped from […]

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Blowing $24 Billion on Ruble Spurs Free-Float Bet

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com – Vladimir Kuznetsov – October 29, 2014) The ruble’s persistent weakening in the face of $24 billion of interventions is stoking speculation the Bank of Russia will accelerate its switch to a free float. The currency fell to a record for a sixth day today, losing 0.6 percent to 42.7410 per dollar and bringing this month’s drop […]

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NEWSLINK: Russia in grim go-it-alone mood as sanctions bite

Economy, Business, Investment, Trade, Russia & the West, Sanctions
File Photo of Cash, Coins, Line Graph

[“Russia in grim go-it-alone mood as sanctions bite” – BBC – Bridget Kendall – BBC – Sochi, October 27, 2014] BBC News covers Russia’s Valdai Club meeting at Sochi and the impact of Ukraine-related Western sanctions on Russia. Russia’s efforts to reduce … reliance on trade with the West overshadowed a high-profile meeting between … Putin and foreign correspondents …. * * * A series of […]

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RIA Novosti: Western sanctions increase Russians’ fears over economy – poll

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

(RIA Novosti – Moscow, October 23, 2014) Russians have become more worried about the state of their country’s financial system after the introduction of Western sanctions, but at the same time the economic situation has not yet compelled Russians to massively change their spending behaviour, according to research conducted in October by Russia’s National Agency for Financial Studies [NAFI]. “Over […]

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Putin’s Nevsky-Stolypin tandem

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Sanctions
File Photo of Vladimir Putin at Desk

(Business New Europe – bne.eu – Chris Weafer – October 24, 2014) Chris Weafer is Senior Partner at Macro-Advisory, which offers bespoke Russia-CIS consulting. Many of the headlines about Russia in recent months have quite rightly focused on the geopolitical risks and the sanctions impact on the economy. To that has recently been added the surprisingly abrupt fall in the […]

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Russian agricultural production soars after food sanctions

Agriculture, Sanctions
Field of Grain file photo

(Business New Europe – bne.eu – October 21, 2014) When Russian President Vladimir Putin cut off European Union imports of agricultural products earlier this year, one of the rationales was to give a boost to the badly underdeveloped domestic sector – and it seems to working. September’s retail and investment numbers were down but agricultural production soared by 16.8% year-on-year […]

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Interfax: Western sanctions only united Russian society – Naryshkin

Economy, Business, Investment, Trade, Sanctions
Russian Duma Building

CHERKESSK. Oct 21 (Interfax) – The sanctions imposed by Western countries against Russia have united Russians, said State Duma Speaker Sergei Naryshkin. Speaking at a meeting with members of the Karachay-Cherkessia People’s Assembly on Tuesday, he said that Western partners have been putting pressure on Russia, in particular, by introducing a number of sanctions, including personal ones, which “runs counter […]

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Putin’s import substitution policy is working

Economy, Business, Investment, Trade, Sanctions
Field of Grain file photo

(Business New Europe – bne.eu – October 21, 2014) When Russian President Vladimir Putin cut off European Union imports of agricultural products earlier this year, one of the rationales was to give a boost to the badly underdeveloped domestic sector – and it seems to working. September’s retail and investment numbers were down but agricultural production soared by 16.8% year-on-year […]

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RIA Novosti: Lavrov: Western Sanctions’ Goal is to Change Russia, Not to Settle Ukrainian Crisis

Europe, EU, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Sergei Lavrov file photo

MOSCOW, October 19 (RIA Novosti) – The goal of Western sanctions is to force to change the position of the Russian Federation on the key and fundamental issues, and not to resolve the crisis in Ukraine, Russian Foreign Minister Sergei Lavrov said. “Our partners, who actually imposed the sanctions, do not hide the fact that the goal of these measures […]

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Russia Sanctions Update series

Economy, Business, Investment, Trade, International Law, Sanctions
Truck at Russian Border Crossing

Paul Backer, an American attorney based in Moscow, recently has offered the following original contributions to the JRL on the subject of sanctions and the response by business and legal counsel. Backer, pbacker@skalalaw.com, is with Skalaw Law, online at skalalaw.com. Part I: Russia sanctions: implementing client sanctions policies – Sept. 26, 2014 Part II: Russian companies’ failures to adopt effective sanctions policies […]

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Sanctions Update Part 3, Practical Steps.

International Law, Sanctions
Truck at Russian Border Crossing

Subject: Sanctions Update Part 3, Practical Steps. Date: 15 Oct 2014 From: Paul Backer <pauljbacker@gmail.com> Part 3. Practical aspects of sanctions impact optimization for Russian companies. Violating sanctions or hoping for a world without sanctions is not a sanctions policy. Effective sanctions policies optimize transacting and protect assets. They work at the nexus of regulatory, corporate, international, finance, litigation, procurement […]

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For the Russian elite, loyalty is all: Life has changed for Russia’s elite – and not just their holiday destinations…

Sanctions
File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

(opendemocracy.net – Yelizaveta Surnacheva – October 16, 2014) Yelizaveta Surnacheva is a journalist at Kommersant. In the last six months, Russian officials, oligarchs, CEOs of state-owned businesses, parliamentary deputies, and regional governors have found themselves in a new world, with new missions, new economic circumstances, and new mechanisms for decision-making. Not many are comfortable with it, but enough of them […]

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Russia Beyond the Headlines: Ruble devaluation compensates for loss of oil revenue

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions
File Photo of Cash, Coins, Line Graph

(Russia Beyond the Headlines – rbth.ru – Maria Karnaukh, special to RBTH – October 17, 2014) Falling oil prices – and the falling ruble – have different consequences for the budget and consumers Oil prices – and the Russian ruble – continue to sink. As of Oct. 16, the price of a barrel of Brent crude, the standard on which […]

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Interfax: Russians feel no effect from Western sanctions, think Russian economy may benefit – poll

Economy, Business, Investment, Trade, Sanctions, Ukraine, Russo-Ukrainian War
Truck at Russian Border Crossing

(Interfax – October 17, 2014) Most Russians claim they have felt no effect from Western sanctions and expect that the sanctions will be good for the national economy, sociologists have told Interfax. A relative majority (41 percent) of 1,630 respondents polled by Levada Center in 134 populated localities in 46 regions in September said the sanctions were aimed against the […]

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Experts Divided Over Whether Sanctions Against Russia Are Working

Economy, Business, Investment, Trade, Sanctions, Ukraine, Russo-Ukrainian War
File Photo of Cash, Coins, Line Graph

(Voice of America – Andre de Nesnera – October 15, 2014) After several rounds of international sanctions against Russia for its annexation of Ukraine’s Crimean peninsula in March and support of pro-Russian separatists in eastern Ukraine, experts are divided over whether they are working. “It depends on what your understanding of the purpose of sanctions is,” said Matthew Rojansky with […]

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RIA Novosti: Moscow Says Has Every Right to Introduce Sanctions Against US, But Chooses Not to

Economy, Business, Investment, Trade, Sanctions, United States, U.S.-Russian Relations
File Photo of Vladimir Putin and Barack Obama Seated with Flags Behind

VIENNA, October 16 (RIA Novosti) – Amid numerous US sanctions against Russia, Moscow has every right to begin introducing sanctions against the United States, but chooses not to follow this path, Russian Deputy Foreign Minister told RIA Novosti. “This is a reflexive, instincts-based reaction of Washington on what does not fit into the American idea of how, with whom, to […]

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Most Russians Think Western Sanctions Will Boost Nation’s Economy

Economy, Business, Investment, Trade, Sanctions
Truck at Russian Border Crossing

(Moscow Times – themoscowtimes.com – Delphine d’Amora – October 16, 2014) Despite an economic slump and rising inflation, the majority of Russians believe that Western sanctions and Russia’s retaliatory ban on food imports will actually help the economy, a poll published Thursday showed. Only 25 percent of respondents expect sanctions to damage the Russian economy, and only 26 percent expect […]

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Russia Can’t Be Blackmailed Over Ukraine, Putin Says

Europe, EU, Foreign Policy, Security, Visas, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Map of Commonwealth of Independent States, European Portion

(Bloomberg – bloomberg.com – October 15, 2014) It’s futile for the U.S. and its allies to “blackmail” Russia over the Ukraine crisis, President Vladimir Putin said in a newspaper interview. Russia’s partners should remember the risks involved in disputes between nuclear powers, Putin said. He accused Barack Obama of adopting a “hostile” approach in naming Russia as a threat to […]

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