Russia News

Russia’s Rusal to Quit Global Market if Sanctions Remain After Board Shake-up

3 months ago kakp2 Comments Off on Russia’s Rusal to Quit Global Market if Sanctions Remain After Board Shake-up
Russia’s Rusal will be forced to quit the global aluminum market and focus on domestic consumers if the United States does not lift sanctions once an independent board is in place, a source familiar with the matter said. Washington this month imposed sanctions on billionaire Oleg Deripaska and several companies in which he is a Read More

Russian Tech Firms Rebuke Regulator Over Telegram Ban

3 months ago kakp2 Comments Off on Russian Tech Firms Rebuke Regulator Over Telegram Ban
Pixabay / MT Russian tech firms swept up in the state regulator’s campaign to block the Telegram messaging service have voiced concerns and taken steps toward keeping the app accessible. State media watchdog Roskomnadzor has blocked almost 18 million IP addresses since April 16 in an attempt to force Telegram out of Russia, disrupting countless Read More

McDonald’s Russia Turns to Homegrown Fries Amid Ruble Volatility

3 months ago kakp2 Comments Off on McDonald’s Russia Turns to Homegrown Fries Amid Ruble Volatility
French fries at McDonald’s restaurants from Moscow to Murmansk will be Russian from now on, as the American fast-food chain turns to homegrown potatoes to deal with ruble volatility caused by fluctuating oil prices and Western sanctions. McDonald’s Corp, which opened in Russia in 1990 as the Soviet Union collapsed, has been gradually turning to Read More

World Cup Generates All of Russia’s Economic Growth – Deputy PM

3 months ago kakp2 Comments Off on World Cup Generates All of Russia’s Economic Growth – Deputy PM
There would not currently be any economic growth in Russia without investment generated by preparations for the 2018 FIFA World Cup, a senior government official said on Wednesday. Russian Deputy Prime Minister Arkady Dvorkovich said preparations for the World Cup — set to run from June 14 to July 15 — had contributed 867 billion Read More

Rusal’s Deripaska Scrambles to Soften Russia Sanctions Blow

3 months ago kakp2 Comments Off on Rusal’s Deripaska Scrambles to Soften Russia Sanctions Blow
In December, as news reports emerged about potential new U.S. sanctions against Russia, aluminum magnate Oleg Deripaska instructed advisers to draw up contingency plans, according to people close to the businessman and his firms. Senior executives, lawyers and aides working for the Russian tycoon met almost weekly to develop a game plan for different sanctions Read More

Workers Warn of Revolt in Siberian Factory Town Hit by U.S. Sanctions

3 months ago kakp2 Comments Off on Workers Warn of Revolt in Siberian Factory Town Hit by U.S. Sanctions
Donat Sorokin / TASS Workers at one of Russia’s biggest aluminum smelters say their Siberian town is doomed unless Moscow mitigates U.S. sanctions against aluminum giant Rusal, a predicament mirrored across the company’s sprawling operations. Trapped by mortgages for apartments built on barren steppe under communism, residents of Sayanogorsk, one of a string of towns dominated Read More

Moody’s says Russian economy resilient to latest U.S. sanctions

3 months ago kakp2 Comments Off on Moody’s says Russian economy resilient to latest U.S. sanctions
Rating agency Moody’s Investors Service said on Wednesday Russia’s strong public and external finances would shield its economy from the impact of the latest U.S. sanctions. However, the sanctions will be credit negative for some Russian debt issuers, especially Russian aluminum giant United Company Rusal Plc, Moody’s said in a report. The Russian banking system has enough earnings capacity Read More

Russia’s Medvedev Vows to Help Firms Hit by U.S. Sanctions

3 months ago kakp2 Comments Off on Russia’s Medvedev Vows to Help Firms Hit by U.S. Sanctions
Russian Prime Minister Dmitry Medvedev said on Thursday sanctions-hit Russian companies that have fallen into difficulties should receive support from the state to help them retain staff. The U.S. Treasury on April 6 announced sanctions against seven Russian oligarchs and 12 companies they own or control, saying they were profiting from a Russian state engaged in “malign activities” Read More

Russian Ruble Continues Plunge Amid Sanctions Sell-Off, Syria Tensions

3 months ago kakp2 Comments Off on Russian Ruble Continues Plunge Amid Sanctions Sell-Off, Syria Tensions
The ruble slid on Wednesday to its lowest levels since 2016, as tensions with the United States over new punitive sanctions and the conflict in Syria eclipsed the benefit of higher oil prices. The Russian market has been in a sharp sell-off since the United States imposed new sanctions against Moscow on April 6, targeting some Read More

Russian Ruble Continues to Plummet Amid Sanctions Fallout

3 months ago kakp2 Comments Off on Russian Ruble Continues to Plummet Amid Sanctions Fallout
The Russian ruble extended losses on Tuesday, falling by more than 4 percent to its lowest since December 2016 as investors continued a sell-off of Russian assets amid a new round of U.S. sanctions. It was the second straight day of losses for the Russian currency following fresh U.S. sanctions imposed on some of Russian oligarchs and their assets. Read More