Wednesday, 17.10.2018
This week, VTB Bank may receive a stake in TransContainer, Russia’s largest freight transport company, owned by FESCO (25.07%), two sources close to FESCO and TransContainer shareholders have told Vedomosti. The bank will receive the package for debts and then VTB will sell it to its strategic partner, the...
Russia may decide not to issue Eurobonds at all in 2019, deputy finance minister Sergei Storchak has said, according to TASS news agency. "Yes, this is an option. We have the option of not coming out onto the market," the official said, speaking to reporters on the sidelines of a...
The administration of U.S. President Donald Trump is drafting a strategy allowing to impose sanctions against Russian and Iranian companies involved in post-war reconstruction in Syria, NBC News reported citing sources "familiar with the plan." According to the sources, the strategy "would emphasize political and diplomatic efforts to force Iran...
Russia can become one of the world’s leaders in the digital economy if it uses the right strategy for the development of its key industries, a report by the World Bank titled "Competition in the Digital Era: Strategic Challenges for the Russian Federation" says, according to RIA news agency. Meanwhile, Russian business...
Russian President Vladimir Putin said at a meeting with Bank of Russia officials on Tuesday that his country is financially stable despite U.S. and EU sanctions, with higher reserves and falling dependence on oil being the key factors, TASS news agency reports. “The financial market remains stable. That is thanks to...
Тhe owner of Renova Group, Russian billionaire Viktor Vekselberg, intends to challenge the sanctions imposed on him and his companies by U.S. authorities, RBC reports. “My stance is simple: the sanctions are unlawful and unfair and I’m going to challenge them,” Vekselberg told reporters when asked if he was negotiating with the...
Client deposits from Russia in Cypriot banks have dropped 37 percent, and now represent less than 6 percent of the total amount of deposits in the country’s banks, the Association of Cypriot Banks have said in a letter to EUobserver. The banks were reacting to a recent investigation by...
If political or economic needs arise, Russian and British companies could switch to settlements in rubles and pounds, abandoning transactions in U.S. currency, Russia’s trade representative in the United Kingdom Boris Abramov has said, according to RIA news agency. “The British pound is a convertible currency like the U.S. dollar...
The vice president of Russian oil pipeline company Transneft has said that pragmatism and business interests win overheated political rhetoric in Russian-U.S. relations, TASS news agency reports. Mikhail Margelov told journalists on Monday on the sidelines of the annual international Fort Ross Dialogue forum in San Francisco, which includes...
The floating ruble rate in Russia exists ‘only on paper’ now, and is actually replaced by regulation of the forex market by the Central Bank in order to mitigate financial stability threats, the Russian Accounts Chamber said in its conclusion for the draft Russian budget in 2019-2021, according to...