Business

Russia’s Top Banker Warns Moscow’s Counter-Sanctions Could Backfire

24 hours ago kakp2 0
German Gref, the head of Russia’s biggest bank Sberbank, said a proposed law that could result in people being jailed for helping enforce U.S. sanctions would backfire on the Russian economy if implemented. The draft legislation has exposed divisions within Russia’s ruling elite over how to react to Washington’s latest round of sanctions. Pro-Kremlin hawks want a tough Read More

OPEC and Russia Prepared to Raise Oil Output Under U.S. Pressure

24 hours ago kakp2 0
Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, while OPEC’s chief said a complaint from U.S. President Donald Trump over high prices had triggered the idea of upping output. Riyadh and Moscow are prepared to ease output cuts to calm consumer worries about supply Read More

Rusal CEO Quits as Company Warns on Debt Payments After U.S. Sanctions

2 days ago kakp2 0
Russia’s largest aluminum producer, United Company Rusal Plc, said on Thursday its chief executive and seven board members have quit, and warned it may have problems servicing its debt due to the impact of U.S. sanctions. The United States announced sanctions on Rusal on April 6, preventing customers with U.S. exposure from continuing to buy Rusal’s Read More

Sanctioned Oligarch Deripaska Resigns as Director of Rusal

2 days ago kakp2 0
Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the U.S. government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing his stake in En+, the group which Read More

Russia’s Gazprom ‘Satisfied’ After Settling EU Antitrust Case Without Fines

3 days ago kakp2 0
Russian gas giant Gazprom welcomed the European Union’s decision to settle its seven-year-long investigation of the firm without fines on Thursday. “We are satisfied with the commitments decision announced,” Gazprom’s Deputy Chief Executive Alexander Medvedev said in a statement. “Today’s decision is the most reasonable outcome for the well-functioning of the entire European gas market.” Read More

American Businesses in Russia Are Struggling After U.S. Sanctions, Survey Says

3 days ago kakp2 0
U.S. sanctions have created new difficulties for American businesses working in Russia, a recent survey of companies has said. Last month, the United States sanctioned several Russian companies and businessmen for alleged meddling in the 2016 U.S. election and other “malign activities.” Russia vowed to inflict “precise and painful” damage to the U.S. in response, Read More

Russia and Japan Warn U.S. of $1Bln Tariff Retaliation

4 days ago kakp2 0
Russia and Japan have warned they could retaliate against U.S. tariffs on steel and aluminum by imposing sanctions worth almost $1 billion combined, filings published by the World Trade Organization showed on Tuesday. The documents from Russia and Japan, following similar filings last week by the European Union and China, notified the United States of the cost of Read More