Russian billionaire Oleg Deripaska has filed a lawsuit against the U.S. Treasury Department in a Washington court, alleging the sanctions against him are illegal, Bloomberg reported. The powerful tycoon with close ties to the Kremlin, who was placed on a U.S. sanctions list last April, is claiming the measures...
Russia could raise the legal drinking age from 18 to 21 and restrict alcohol sales in residential areas this year, Gazeta RVS reported.
The change would be part of President Vladimir Putin’s ambitious plan to overhaul Russia’s economy by the end of his last term in office. The total spend...
Some of the biggest Russian banks are working on plans to help each other in the event that they are hit by fresh U.S. sanctions, sources familiar with the matter told Reuters.
According to the report, the new scheme, which banks started to draft with Russia's finance ministry and the...
The weekly shopping index was negative in Moscow and St. Petersburg though it grew in Yekaterinburg and Kazan over the most recent holiday, International Women’s Day, Kommersant writes, concluding that the holiday failed to stimulate Russians to head to local shopping malls.
Muscovites and St. Petersburg residents now tend...
Russian Billionaire Oleg Tinkov, the founding shareholder of London-listed consumer lender TCS Group, has sold $150 million worth of Global Depository Receipts in the holding that controls Tinkoff Bank, Interfax reports.
Altoville Holdings, a firm tied to TCS Group founder Tinkov, sold 8.3 million GDRs at $18 each, the...
Russia’s biggest mobile taxi service, Yandex.Taxi, is considering the introduction of a guaranteed minimum income for its drivers, Kommersant reported on Wednesday citing industry sources.
The competition in Russia’s online taxi-hailing business has become cutthroat and the leading companies are looking for ways to distinguish themselves from the competition....
A number of well-known Russian businessmen on Thursday said that U.S. investor Michael Calvey’s treatment at the hands of the authorities over fraud charges looked too harsh and called for him to be released from a pre-trial detention facility on bail, Reuters reports.
The detention last month of Calvey,...
Russian billionaire Roman Abramovich sold $551 million worth of shares in mining giant Norilsk Nickel on Tuesday, the deal’s arranger VTB Capital said, according to Bloomberg.
The shares, accounting for a 1.7 percent stake in the world’s largest palladium producer, were bought predominantly by British-based investors, with Russian investors...
A recent surge in demand for Russia’s coupon-bearing federal loan bonds known could have happened due to increased purchases by Venezuelan investors, analysts told Russian news outlet RBC.
According to Richard Segal, senior analyst on developing markets at Manulife Asset Management, Venezuela’s purchases could have been ensured by the...
A 9.53% stake in Russian copper/nickel mining company Intergeo was sold on Thursday in a joint deal by Russia’s RDIF sovereign wealth fund, the Russia-China Investment fund and a Middle Eastern sovereign wealth, Interfax reported.
Intergeo, a part of Onexim Group, which manages the assets of Russian billionaire Mikhail...
