After an extensive $55 billion modernization of Russia’s refineries, the country plans to sharply increase fuel exports and carve out a larger share of the European market, companies’ plans and analysts’ reports show.
Following a fuel shortage crisis in 2011, Russia embarked on a modernization project for its biggest refineries....
IPSCO, the U.S. unit of Russia’s largest producer of steel pipes for the oil and gas industry, TMK, is expected to benefit from new U.S. import tariffs on steel and aluminum imposed by President Donald Trump, the company said.
TMK said IPSCO did not import steel, so should benefit from...
The only remaining bidder for the Ukrainian subsidiary of Russia’s Sberbank is now Belarusian Paritetbank, the country’s 15th biggest lender in terms of assets, owned by the country’s Presidential Property Management Department, Kommersant reports.
This comes after Ukrainian businessman Valery Khoroshkovsky scrapped plans to acquire the asset. Previously, he wanted...
U.S. President Donald Trump’s signing of a decree to introduce customs tariffs on steel and aluminum imports is viewed by Russian experts as a new protectionist measure and political instrument, several Russian newspapers wrote on Monday.
The decree to impose a 25% tariff on steel and 10% on aluminum was...
Russians are buying a record number of domestically-made cars, according to a recent study by PricewaterhouseCoopers (PwC). Sales have grown for the first time since the economic crisis.
The share has grown to a record 83 percent from the 65 percent seen in 2012, the audit firm reports. In total,...
Ukraine and Moldova have stepped up their criticism of the Nord Stream 2 gas pipeline project – a Russian venture intended to bring Russian gas directly to Germany.
Andriy Parubiy, the Ukrainian parliament speaker has said the real nature of the Nord Stream 2 pipeline project is far from being...
Russia’s import substitution is a ‘temporary phenomenon, a temporary tool for adjusting the current situation’, President Vladimir Putin said on Wednesday, according to TASS.
"The idea of import substitution itself is not universal and is not what we should strive for in the long run, because import substitution should not...
Russia has become much more conservative about its finances, fortifying them partly in order to withstand international sanctions, Quartz writes.
Credit rating agency Standard & Poor’s raised Russia’s rating to investment grade last month citing the nation’s “prudent policy response,” which has helped it cope with international sanctions and lower oil prices....
Several Eastern European countries have stepped up their opposition to the planned Nord Stream 2 gas pipeline linking Russia with Germany, VOA News reports.
The project would bring Russian gas directly to Western Europe and double Russia’s capacity to pipe gas across the Baltic Sea to Germany and beyond, to 110...
MTS, Russia’s largest mobile phone operator, plans to increase its stake in online retailer Ozon through an acquisition of up to 1.7 billion rubles ($30 million) of newly issued shares, a company statement said on Wednesday.
According to Reuters, MTS would initially acquire 1.15 billion rubles of Ozon shares, raising...
