That naughty Vladimir Putin is up to his tricks again. Not weaponising football hooligans or COVID vaccines this time, but gas. Politicians are queuing up to blame Russia. The trouble is, this is not just bad analysis but also bad politics.
Russia’s gross international reserves have fallen by $10bn from an all-time high to $611.9bn as of October 1, according to the latest data from the Central Bank of Russia.
Sber (formerly known as Sberbank) became the most valuable bank in Europe on October 7. Previously the first place was held by the British HSBC, Russian media reported.
Energy prices have seen significant strength recently. European gas prices have rallied 94% during September, taking them to record levels. Oil and coal have also strengthened.
Russia is a top ten global alcohol producer and has one of the highest vodka consumption levels globally: 3.5 litres per capita in 2020 of pure alcohol. But the shape of the market is also rapidly changing.
Russian media say group may be beyond Taliban’s control. Moscow says Russia stands ready to protect its ally from any incursion.
Russia’s dollar-denominated Russia Trading System (RTS) index broke above the 1,800 mark for the first time in over a decade on October 7 to end the day at 1,854.
Consumption was the key driver of the 2Q21 economic recovery and remains so in 3Q21, with August employment and retail trade above expectations ahead of the likely spike in September.
Analysts are chewing through RosStat’s recent release of a detailed breakdown of Russia’s production, and the big surprise was that agricultural production tumbled by 10.1% year on year in August.
Russia's consumer price inflation continued to accelerate, posting 7.4% year on year and 0.6% month on month in September 2021, according to the latest release by the RosStat statistics service.
Dsight, a Moscow-based business intelligence company with a focus on investment, has just released the English version of its Russian venture report covering the first half of 2021.
Russia could impose record fines on Facebook and Google (held responsible for YouTube) for not removing prohibited content. Since these companies are accused of repeated violations, fines could be in the range of 1/20 to 1/10 of the yearly revenues.
Moscow’s move comes amid high tensions as Iran, Azerbaijan and Turkey flex muscles with military exercises.
Natural gas prices in Europe took a dive on the afternoon of October 6, after Russian President Vladimir Putin hinted that Gazprom might release more supply onto the market.
The leaked files dubbed 'the Pandora Papers' reveal how wealthy Russians, many of whom are alleged to be in Putin’s inner circle, have hundreds of millions of dollars in offshore holdings.
Infection rates in Russia have reached their highest level since January. There were 25,781 new cases on October 4, the highest the figure has been since there were 26,301 infections on January 2. October 4 also saw 883 deaths.
OCSiAl, the Russian-founded global graphene nanotube leader (pronounced ‘Oxial’), intends to get listed on a Western exchange at the end of this year by merging with a SPAC.
Russia could impose record fines on Facebook and Google (held responsible for YouTube) for not removing prohibited content. As these companies are accused of repeated violations, fines could be in the range of 1/20 to 1/10 of their yearly revenues.
Despite the recent spike in oil and gas prices, Russia will limit mandatory FX purchases to $4.4bn, significantly lower than the $9-10bn monthly current account surplus that is to be expected for 4Q21 to support the currency.
Russian IPOs are back and billions of dollars have already been raised and billions more of listings are in the pipeline in the coming year. The Russian corporate story is hot again for the first time in about a decade.