As the low base effects fade, the growth in industrial production (IP) is showing signs of moderating y/y. IP growth in July slowed to 6.8% y/y vs. Bloomberg consensus expectations of 8% and estimates of 8.2% y/y.
A court in Germany has ruled that Russia’s controversial Nord Stream 2 pipeline should not be exempt from EU gas market rules, creating new headaches for the project’s state-owned operator Gazprom, which may be unable to use half the capacity.
Economic Development Minister Maksim Reshetnikov has outlined the main directions of the country's GHG reduction strategy, which is increasingly focusing on ESG as the Kremlin wakes up to the dangers of global warming.
President Vladimir Putin spoke at the party congress for the ruling United Russia Party on 24 August and promised to increase social spending in September.
Russia has received $18bn worth of Special Drawing Rights (SDRs) in the latest $650bn (456bn SDRs) transfer of the International Monetary Fund (IMF) that will take its total reserves to a new all time high of $619bn.
With only a month left in office German Chancellor Angela Merkel is trying to cut an energy deal that will allow Germany to receive gas from Russia’s new Nord Stream 2 but keep some gas flowing through Ukraine’s Druzhba gas pipelines.
Lithuania has passed legislation to ban electricity imports from Belarus, but power from Lithuania’s hostile and unpredictable neighbour keeps trickling across the border through four 330-kV interconnectors.
Kremlin-controlled lender VTB has relocated its CEO and chief operating officer from its London investment banking business to Frankfurt in the wake of a strategic business review and as its UK operation’s losses have quadrupled to $212.7mn.
Some say field could be “geopolitical gamechanger”. Tehran reportedly working with Russia and China in exploiting resource. Distribution of gas reportedly to be conducted in consultation with Moscow.
The share of zombie companies in Russian industry is 10-15%, according to the Centre for Business Studies of the National Research University Higher School of Economics.
German Chancellor Angela Merkel flew to Moscow on August 20 to meet with Russian President Vladimir Putin for the last time as chancellor for wide-ranging talks where jailed opposition critic Navalny and gas deliveries to Europe featured prominently.
The purchasing power of Russians in the first half of this year fell in 64 of Russia’s 85 regions, according to the “borscht index”, a sort of Russian version of the well-known “Big Mac index”.
Only 11% of Russians receive remuneration for their work in whole or in part "in an envelope,” according to the results of a survey carried out by the state owned pollster VTsIOM.
Russian Foreign Minister Sergei Lavrov has proposed to restart the “Moscow format” talks with the Taliban.
The Taliban gave its first proper press conference yesterday where they didn't not just say the right things, they said exactly the right things. Some are speculating if it has been given professional PR advice as the message is a little too perfect.
Russia’s stock market is flying and approached a 10-year high on August 17 as the index reached 1,690 – its highest level since 2012.
Hollywood actor Bruce Willis’ face is back on the screens in Russia after he agreed to feature in the new advertising campaign of leading Russian mobile phone company Megafon. However, the actor will not physically participate.
A chaotic first day of the new regime in Kabul. The images coming out of Kabul airport are going to become iconic. As bad as, if not worse than, those that came out of Saigon.
Russia’s GDP was up 1.3% vs. 4Q19, although it is still 3 percentage points below pre-COVID-19 trend levels.
The weapon, which has not been used since the 1990s, could lead to special duties more painful than the blunt instrument of sanctions.