A $1.5 billion stake owned by state-controlled Otkritie bank in the country’s second-largest lender, VTB, could be transferred to state development bank VEB, three sources familiar with the discussions told Reuters.
The country’s central bank is still considering the deal, the sources said. If it went ahead, it would fit...
Representatives of Russia and Japan have been engaged in dialogue over how to mitigate the adverse impact of U.S. tariffs on the bilateral trade, Russia’s trade envoy in Tokyo Sergei Egorov told TASS in an interview on Tuesday.
"Russia and Japan follow WTO rules and the maximum possible elimination of obstacles...
Russia’s special administrative regions, planned by the Kremlin to serve as alternatives to foreign offshore zones, will be launched on Russky Island in the Far East and on Oktyabrsky Island in the Kaliningrad Region in September or October 2018, Economic Development Minister Maksim Oreshkin said Tuesday.
"The mechanism will be...
The possibility of more Western sanctions against Moscow is the key risk for the Russian economy, as much of 21 percent of which has already felt the impact of existing sanctions, Russia's Analytical Credit Ratings Agency said in a report on Tuesday, according to RIA news agency.
Having dented incomes of...
The supervisory board of Russian state-owned banking giant VTB has approved last week the sale of the entire capital of its Serbian subsidiary VTB Banka a.d. Beograd, SEE News reported.
VTB intends to sell the entire capital of VTB Banka which is composed of 7,344,813 shares with a nominal value of 500 dinars...
Sberbank CEO Herman Gref sent a letter to President Vladimir Putin late last week in which the head of the nation’s top lender warned about the risks the oil refining industry and its lenders are facing as a result of the conclusion of the tax maneuver in the oil sector.
According to...
Russia will boost its consumption of aluminum by 300,000 tonnes this year against the background of U.S. sanctions, the country’s Minister of Industry and Trade Denis Manturov told reporters on Monday.
"We have about one million in 2017, and 300,000 tonnes will be added this year," Manturov said, according to TASS.
According...
The richest Russians have increased their total wealth by billions of dollars since the beginning of 2018, despite many of their businesses being directly or indirectly affected by sweeping international sanctions.
Data from the Bloomberg Billionaire Index shows that the 24 richest Russian oligarchs have managed to expand their wealth by...
Russian oil major Lukoil is under a degree of risk associated with the negative impact of U.S. sanctions against Russia and Iran on the company and its shareholders and partners, a source in the Russian company told Trend news agency.
“The company is currently evaluating all kinds of risks: how will...
Trilateral exchanges in the tourism sector were discussed at a ministerial meeting of representatives by Mongolia, China, and Russia on Monday, Xinhua reports.
A 17-member Russian delegation as well as over 150 Mongolian representatives, and a 61-member Chinese delegation participated in the meeting.
The discussions centered on ways to develop cross-border tourism, increasing the...
