Russia
Germany calls for greater co-operation with Russia in a controversial paper ahead of EU ministers' meeting
Germany has made a controversial call on its western allies for greater co-operation with Russia on climate change and to repair frayed relations at a time when the US is considering upping sanctions and targeting Russia’s sovereign debt.
COMMENT: OPEC+ puts off production cut decision for a month
A decision over oil production levels and prices looks to have been delayed for a month following the OPEC+ meeting, between OPEC’s 13 members and 10 other non-OPEC countries, on March 4.
ING: Commodity supercycle calls grow
It has been an exceptional month for commodity markets, with growing inflation expectations increasing investor interest in the assets. Meanwhile, fundamental developments, particularly in the oil market, have only provided a further boost.
FPRI BMB Russia: Google tech tax 2.0
The latest in Russian tech protectionism, the government is considering implementing a new tax on foreign IT firms that use consumer data for advertising.
Fix Price raises $2bn with London IPO
Fix Price, one of the leading variety value retailers globally and the largest in Russia, has successfully priced its IPO on the Main Market of the London Stock Exchange at $9.75 per GDR, the top end of the previously announced price range.
The European Medicines Agency starts rolling review of Russia’s Sputnik V coronavirus vaccine
Russia finally sends all the documentation required and the COVID-19 vaccine is expected to be approved for use in the EU in the near future.
Russian government may cut borrowing this year by RUB0.5 - 1 trillion over US sanctions fears
The Russian government reportedly discussed a proposal to cut borrowing this year over fears that US sanctions could target sovereign debt.
ING: higher oil does not mean better outlook for Russia’s ruble
The $9/bbl upgrade in ING’s 2021 oil price forecast boosts Russia's annual exports by $25bn. But it will be sterilised by an additional $15bn of FX purchases and elevated capital outflows. ING maintains $/RUB forecast of RUB72-73 for 1H21.
Russia’s services PMI positive at 52.2, but down slightly from January
The seasonally adjusted IHS Markit Russia Services Business Activity Index registered 52.2 in February, down slightly from 52.7 in January. The latest reading signalled a modest rate of expansion that was slower than the long-run series average.
US sanctions Russian officials over Navalny
Stock market unrattled by symbolic punishment but Kremlin is expected to respond anyway.
Sanctions risk on Russia is over-priced
Investors into Russian stocks, bonds and the ruble are holding their breath, waiting to see how bad the widely expected US sanctions on Russia will be. But the growing consensus is that the US sanctions will be light and merely symbolic.
Moscow to issue first regional green bonds
Moscow will be the first Russian region to issue "green bonds" to finance ecological and environmental projects and it is targetting investors interested in ESG
Russian discounter Fix Price closes book, could raise $1.7bn in record IPO
The Russian hard discounter Fix Price has closed its initial public offering book (IPO) on the London Stock Exchange (LSE) in less than one day owing to high demand
Russia’s manufacturing PMI shows the strongest improvement in operating conditions since April 2019
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI put in its strongest growth since April 2019 after registering 51.5 in February, up from 50.9 in January, signalling a marginal improvement in the health of Russian manufacturing.
Forbes launches eco-rating of Russian companies
This year, Forbes Russia compiled a list of Russia’s 30 most eco-friendly companies for the first time, reported New Economy Observer February 26.
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Russian President Vladimir Putin's popularity ticked up 1pp in February to 65%
Russian President Vladimir Putin's popularity ticked up 1pp from 64% in January to 65% in February according to the latest poll from independent pollster the Levada Center, regaining the levels prior to Navalny's demonstrations.
Russian business confidence bounces back strongly in January
There was a remarkable upswing in business confidence in January, according to Rosstat’s monthly survey. The confidence level rose to -1, its highest level since May 2019, marking a return to pre-coronacrisis levels.
Russia's paper and pulp company Segezha is tapping Russia's "green gold"
Trees are one of Russia’s biggest natural resources. Russia's forests stretch half way around the world and it is home to 70% of the planet's entire stock of soft wood – ideal for making paper.
Putin’s trust rating improves 3pp to 32%, Navalny falls 1pp to 4% despite protests
Russian President Vladimir Putin’s trust rating improved by 3 percentage points to 32%, while that of jailed anti-corruption activist and opposition politician Alexei Navalny fell by one point to 4% in between December 2020 and February 2021.
Lufthansa to launch a first class "Corona Lounge" in Moscow to immunise rich Germans
German national carrier Lufthansa is seeking to arrange dedicated flights to Moscow so wealthy Germans can avail themselves of Russia’s Sputnik V vaccine in what would be a huge publicity coup for the Kremlin, bne IntelliNews can reveal.