Turkey delivers hundreds of heavy machine guns to Ukraine

bne IntelIiNews October 4, 2023

Ankara continues to quietly permit defence sales to Kyiv despite attempting to serve as a neutral mediator in the conflict with Russia.

Russia’s service sector PMI slows slightly in September, but expansion remains a very robust 55.4

Ben Aris in Berlin October 4, 2023

The seasonally adjusted S&P Global Russia Services PMI Business Activity Index registered an extremely strong 55.4 in September, but was down slightly from 57.6 in August.

EU passes €50bn support for Ukraine in new budget, but US only has six months of funding left

bne IntelliNews October 4, 2023

The European Union has voted through a new multi-year budget for 2021-2027 that locks in €50bn of funds for Ukraine, but new US spending bill excludes Ukraine.

IMF: Geoeconomic fragmentation threatens Food security and clean energy transition

IMF blog October 4, 2023

Russia’s invasion of Ukraine in 2022 fragmented major commodity markets. Countries have since restricted trade in commodities, with a more than twofold increase in new policy measures relative to 2021.

Ghanaian supporters of Russian mercenary group Wagner arrested for allegedly plotting coup

Kent Mensah in Accra October 4, 2023

At least five Ghanaians linked to Russia-backed mercenary group Wagner have been arrested for allegedly plotting to overthrow the government.

Russia's ruble breaks through RUB100 to the dollar barrier again

bne IntelliNews October 4, 2023

The Kremlin called for calm as the ruble fell below the psychologically important RUB100 to the dollar mark for the second time this year on October 3.

France could join India as new arms supplier of choice for Armenia

Ani Avetisyan October 3, 2023

France is emerging as a potential new defence ally and arms supplier for Armenia, as Yerevan’s relations with Russia continue to deteriorate.

Armenia ratifies Rome Statute despite Russian threats

Ani Avetisyan October 3, 2023

Kremlin had said it would see the ratification as an “extremely hostile” move towards Russia.

Baking land, bath tub warm seas, melting ice caps - in charts

Ben Aris in Berlin October 3, 2023

The seas are the temperature of bath water and the land is baking. This year the rise the global temperature in June already passed the 1.5C limit compared to the 1850-1900 base set in the Paris Accords as the upper limit for global warming.

Russia’s banks have earned $40bn in profits this year, their best result in almost a decade

Ben Aris in Berlin October 3, 2023

Russia’s banking sector put in another strong month in August, reporting profits of RUB353bn ($3.4bn), its best monthly result this year, with a return on equity of approximately 32% on an annual basis.

Russia haemorrhaged money last year, but Kremlin working overtime to stem capital flight this year

Ben Aris in Berlin October 3, 2023

Sanctions on Russia have failed to cut the Kremlin off from the export revenues from oil and raw materials that are being used to fund the war in Ukraine, but they have bled the country of hundreds of billions of dollars – indirectly.

Ukraine to become “a military production hub” as counter-offensive stalls

Ben Aris in Berlin October 2, 2023

Ukraine hosted an international defence industry conference in Kyiv on September 30. The country hopes to attract international arms manufacturers and make Ukraine a “large military production hub" to break the stalemate on the battlefield.

Russia’s manufacturing PMI puts in biggest jump in five years to 54.5 in September

Ben Aris in Berlin October 2, 2023

The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index PMI was up to 54.5 in September from 52.7 in August, the sharpest improvement in operating conditions since January 2017.

Russian diesel export ban hits an already tight market

bne IntelliNews October 2, 2023

In a move to stabilise domestic fuel prices, Russia announced a snap ban on diesel and gasoline exports on September 21, amplifying the strain on an already tight global fuel market and remaking the global supply chains.

"The worst is over," says Russia's economic elite

Ben Aris in Berlin September 29, 2023

After a horrendous start to the year with excruciating new oil sanctions that led to the largest January deficit on record, the Kremlin is starting to sound increasingly optimistic about the health of the Russian economy by the end of the year.

US steel company makes plans for nuclear fusion

by Roberta Harrington in Los Angeles September 27, 2023

US steel company Nucor and Helion Energy plan to develop a 500-MWe nuclear fusion plant at one of Nucor’s steel manufacturing plants.

Lavrov confirms Ukraine war peace deal reached last April, but then abandoned

Ben Aris in Berlin September 27, 2023

Russian Foreign Minister Sergei Lavrov claimed a peace deal was reached with Ukraine last April, saying all the points were initialled before the deal was abandoned under Western pressure in his “Empire of Lies” speech at the UN on September 23.

COMMENT: Time for Europe to get tough on Azerbaijan

bne IntelIiNews September 26, 2023

“By launching a military offensive in Nagorny Karabakh, President Aliyev forfeited the trust of Europeans. Azerbaijan’s status as a transport hub cannot be a reason for the EU to go soft on Baku,” says scholar Thomas de Waal.

Moscow warns Armenia making ‘big mistake’ in choosing ‘Western direction’

bne IntelIiNews September 26, 2023

PM Pashinyan accused of “unacceptable outbursts” in describing security arrangement with Russia as “not effective” for national interests in wake of defeat of Nagorno-Karabakh’s ethnic-Armenians by Azerbaijan.

RIDDLE: Russia’s vanishing trade surplus

Vladislav Inozemtsev of the Centre for Post-Industrial Studies September 26, 2023

Over the last quarter of a century, the Russian economy has experienced a roller coaster ride: it has seen both rapid growth in the 2000s and the failures of 1998 and 2008, not to mention the stagnation of the 2010s.