Anton Siluanov The first shock from Western sanctions for the Russian economy has passed, Finance Minister Anton Siluanov said at the New Horizons marathon. The broadcast was conducted by the Knowledge Society on VKontakte. “We believe that the first shock has passed, although all these packages of sanctions are still being prepared, and to hell with them,” the minister said. Siluanov ...
The court arrested Andrey Panov, the former deputy head of Aeroflot, in absentia in a fraud case. The charges relate to an order for the development of the company's marketing strategy. Panov, who left Russia, The Khoroshevsky District Court of Moscow on Wednesday, May 18, arrested Andrei Panov, the former deputy general director of Aeroflot for strategy and marketing, in absentia for a period of ...
Mazda Sollers is negotiating the resumption of supplies of components to the plant in Vladivostok, the Sollers Auto press service told RBC. “Like other automakers, Mazda Sollers is currently experiencing a shortage of components, which is caused by a break in supply chains - the supply of components to the plant has been temporarily suspended,” the company said. The company also extended the fully...
MTS increased capital expenditures by almost 30% in the first quarter due to the acceleration of purchases of telecommunications equipment In the first quarter of this year, MTS capital expenditures increased by 27.2% compared to the same period in 2021 and amounted to 37.3 billion rubles, the company said in a message to RBC. It explains that the growth was "driven by accelerating procurement of ...
Deutsche Bank stopped working with a number of large Russian banks, closing their correspondent accounts, RBC learned. Such actions can lead to problems with transfers abroad. The German Deutsche Bank has terminated relations with a number of Russian banks that had correspondent accounts in euros opened with it. RBC was told about this by two sources in the financial market. Deutsche Bank in mid-M...
The European Commission plans to create a fund "RebuildUkraine" to restore Ukraine. As part of this initiative, the EC will offer to send there income from the European assets of Russian businessmen against whom sanctions were imposed. The European Commission will consider a project on the use of income from the frozen assets of Russian businessmen who fell under EU sanctions to restore Ukraine. T...
The idea of confiscation of the frozen assets of the Central Bank was previously raised both in Ukraine and in the European Union. The IMF promised to explore such a possibility, The International Monetary Fund (IMF) will study the possibility of confiscation of foreign exchange reserves of the Central Bank of Russia, but it is too early to talk about specific decisions. This was stated in an in...
Negotiations between the Venezuelan government and opposition took place for the first time since October 2021. Reuters sources said The speaker of the National Assembly of Venezuela, Jorge Rodriguez, met with opposition representative Gerardo Blyde for the first time since October 2021. Rodriguez posted a photo from the meeting on his Twitter. “As a representative of the delegation of the governm...
Several Russian journalists and civil servants fell under the restrictions of Australia,as well as PMC Wagner The Australian authorities imposed sanctions on eight Russian journalists, as well as a number of government officials and organizations. This was reported in the press service of the Australian Foreign Ministry. In particular, the sanctions list included Dmitry Kiselev, CEO of the Rossiya...
According to newspaper sources, the largest US oilfield services companies, including Baker Hughes, Schlumberger and Halliburton,terminate contracts with Russian companies and plan to sell the business to local management The largest US oilfield service companies operating in Russia are terminating existing contracts and are looking for ways to exit the Russian market. This was reported by Kommers...
oil embargoVenezuela has been operating since 2019. Negotiations to lift part of the restrictions have been ongoing since March. According to Vice President Delsey Rodriguez, The United States abandoned restrictive measures that prevented the work of American and European oil companies in Venezuela. This was announced on Twitter by Vice President of the Latin American country Delsie Rodriguez. “Th...
The Ministry of Economy announced scenarios for economic development for the coming years. Full growth will return from 2024, the agency believes. But with the continued decline in GDP in 2023, household incomes will begin to grow earlier, The Ministry of Economic Development has developed the main parameters of the scenario conditions for 2......
The Bank of New York has notified the holders of Russian Eurobonds that due to EU sanctions, it refuses to act as a trustee for these securities.Experts differ in their assessment of the consequences of such a decision. The American investment holding Bank of New York Mellon (BNY Mellon) warned holders of Russian Eurobonds that it would not be able to perform the functions of a trustee (represents...
In April 2022, non-oil and gas revenues of the federal budget, excluding inflation, fell by 18% compared to the same month a year ago. This is the largest decline since August 2020. Non-oil and gas revenues of the federal budget (VAT, income tax, proceeds from state property, etc.) in April 2022 showed a decrease in nominal terms by 18% compared to April of the previous year, follows from RBC’s ca...
Japan's top three banking groups, Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, lost more than 350 billion yen (more than $2.7 billion) in fiscal 2021, which ended in March, due to sanctions against Russia, Japanese TV channel NHK reported. Thus, Mitsubishi UFJ lost a total of 140 billion yen ($1.08 billion), and Sumitomo Mitsui - 1......
The RSPP advocated reducing the grounds for introducing external administration in companies leaving Russia, as well as narrowing the list of its powers, follows from a letter from the union to the Ministry of Economics.Otherwise, there is a high risk of abuse A number of provisions of the draft law on external administration can lead to abuse, theft and other illegal actions on the part of appoin...
Stephane Buffet Europe pursued an "incomprehensibly clumsy" policy towards Russia after the collapse of the USSR, said Stéphane Buffetou, former president of the EU-Russia Liaison Committee, vice-president of the French party National Center for Independents and Peasants. He wrote about it in an article for the Boulevard Voltaire. According to him, Europe after 7......
Nobody spoke to the Russian side about plans to seize its assets in favor of Ukraine, but in the event of such a development of events, Moscow will take retaliatory measures, Peskov said. “It will be in fact outright theft,” If foreign countries take steps to use the frozen Russian assets to restore funding for Ukraine, "it will be, in fact, outright theft." This was stated to journalists by the p...
According to the Ukrainian Prosecutor General,authorities arrested Fridman's securities worth $420 million in the Ukrainian Alfa-Bank Mikhail Fridman The Ukrainian authorities seized the assets of Russian businessman Mikhail Fridman in the Ukrainian Alfa-Bank in the amount of 12.4 billion hryvnias (about $42......
Viktor Orban Western sanctions against Russia are ineffective and can harm those who impose them, Hungarian Prime Minister Viktor Orban said, speaking in the country's parliament after his re-election to the post, writes 24.hu. “Europe is convinced that various sanctions can bring Russia to its knees. It is possible on paper, and many "paper" politicians put forward some kind of theoretical eviden...
In the publication, the suspension of the release of the paper version was explained by the departure of the majority of advertisers and the rise in production costs. At the same time, they rejected The Russian Forbes will temporarily suspend the release of the paper version of the magazine in June due to the withdrawal of advertisers and the rise in production costs. This was announced to RBC by ...
Earlier, the head of EU diplomacy warned that the sanctionsmay not be agreed due to the position of some countries on the oil embargo from Russia. He also stated that he did not know The foreign ministers of 27 EU countries failed to agree on the sixth package of sanctions against Russia. This was announced by the head of EU diplomacy Josep Borrell following the meeting of the EU Council in Brusse...
Most of all, prices increased for faucets, sinks, toilet bowls and economy-class installations. At the same time, according to Pridex, The growth in the cost of sanitary ware in Russia for certain positions in February-April amounted to 70%, faucets, sinks and toilets in the economy segment grew the most in price. This is stated in a study by the construction company Pridex (available from RBC). C...
Even if the European Union does not come to a unified decision on an embargo on Russian oil, Germany expects to phase it out by the end of 2022.German authorities are working on making deals with alternative suppliers Germany intends to stop importing oil from Russia by the end of 2022, even if the EU countries fail to agree on a ban on the supply of Russian fuel as part of the next package of san...
Western sanctionsblocked almost all exports of Belarusian goods to North America and the EU, Prime Minister Roman Golovchenko said. He said that Minsk would redirect this volume of supplies to Asian markets, Due to economic sanctions imposed against Belarus, almost all of Minsk's exports to the EU and North America were blocked. Belarusian Prime Minister Roman Golovchenko stated this in an intervi...
Importers will have to declare the fulfillment of all obligations to Russia after paying for gas in euros or dollars, the EC plan says, writes Bloomberg, further actions are unacceptable.Poland did not see in terms of clarity Еврокомиссия подготовила план по закупке российского газа, который позволит импортерам выполнить условия Москвы и при этом не нарушить санкции. В частности, европейские компа...
At the same time, the diplomat notedthat in Germany there is a “political order” not to use gas from Russia and reduce dependence on Moscow Russian Ambassador to Germany Sergei Nechaev expressed the hope that the German authorities would eventually return to the Nord Stream 2 gas pipeline project. The diplomat stated this on the air of Solovyov Live. “The time will come to return to this project, ...
At the spring session of the State Duma, deputies will consider bills to counteract anti-Russian sanctions. Documents will concern the sphere of IT, education, Initiatives aimed at protecting the citizens and the economy of Russia will be considered during the spring session of the State Duma. This was stated in his Telegram channel by the speaker of the lower house of parliament Vyacheslav Volodi...
Loss of imports could reduce Russia's GDP by 4–18%, and exports by 1–25%, depending on the scenario, the Institute of the Bank of Finland estimated. Russiacan mitigate the effect of sanctions,but it will take time and alternative markets Heli Simola, Senior Economist at the Bank of Finland's Institute for Economies in Transition (BOFIT, an institute specializing in the analysis of the Russian econ...
According to the representative of the businessman, Abramovich does not have any property in Portugal,Millhouse Views LCC is not affiliated with him in any way Roman Abramovich has nothing to do with the €10 million house arrested in Portugal, which was previously reported by the Publico newspaper. This was stated to RBC by a representative of a Russian businessman. “Mr Abramovich does not own any...