Russia’s Renova Group, owned by Kremlin-linked billionaire Viktor Vekselberg, received a credit line from Promsvyazbank last week to support the business after it was hit by U.S. sanctions, Russia’s finance ministry said on Monday.
Anton Siluanov, the country’s finance minister, said the government also provided Renova with financial aid in order...
Russia’s government-owned development bank Vnesheconombank (VEB) and the Saudi Arabia-based Islamic Development Bank (IDB) will create a partnership financing fund “based on the principles of Islamic funding,” VEB said in a statement.
According to the bank’s press department, Chairman Sergey Gorkov has made the announcement about the deal at the...
Major Russian companies might soon be relieved of a legal duty to publicly disclose some information, Izvestya reports. According to the news outlet, the Ministry of Economic Development hammered out a bill that could allow firms not to publish information about its founders, top management or information that the...
Cooperation between Russian oil major Rosneft and Italy’s energy giant Eni in geological prospecting on the Russian shelf may be terminated due to U.S. sanctions against Russia, Moscow business daily Kommersant reports.
Despite the two parties saying the opposite, the Washington sanctions called into question Eni’s possibility to finance oil...
Russia’s Finance Minister Anton Siluanov said on Monday the government is considering providing support to sanctions-hit companies Rusal and GAZ, owned by billionaire Oleg Deripaska, but will not go as far as buying stakes in his firms, RIA news agency reported.
"The issue of credit support to Rusal...
The Eurasian Economic Union (EAEU) will hold a summit in the Russian seaside resort of Sochi on Monday, with energy cooperation said to be the focus of planned discussions, TASS news agency reported.
According to Russian presidential aide Yuri Ushakov, digital economy, medicine, environment and Moldova’s membership as an...
A document seen by Reuters shows Russia’s Otkritie Bank, rescued as part of a state bailout project last year, had non-performing assets of more than $6.81 billion at the start of the year, breaking central bank requirements.
Russia’s central bank rescued three of the country’s biggest private banks, including Otkritie,...
Russia has refused World Cup accreditation to a journalist specializing in investigations into illegal doping whom German public television had asked to include on its team covering the upcoming soccer tournament, the broadcaster said on Friday, Reuters informed.
Germany’s ARD television had hoped to send its investigative sports reporter Hajo...
Trade between Russia and Egypt may go up to $10 billion in 2018, chairman of the Russia-Egyptian Business Council under the Russian Chamber of Commerce and Industry, Mikhail Orlov, said on Friday, according to TASS.
"Trade is growing dramatically It was about six billion dollars last year and is...
Russian lawmakers havealmost entirely stripped a bill proposing counter-sanctions against the United States of provisions related to specific goods and services, including U.S. pharmaceutical and agricultural products, alcohol and tobacco. They also removed a proposal to restrict the employment of U.S. citizens in Russia, Interfax news agency reported.
The move...
