Eastern Europe / News

Russia, Kazakhstan pushing for oil production increases on the back of coronavirus vaccine-fuelled oil price optimism

Ben Aris in Berlin January 8, 2021

Russia and Kazakhstan won a concession from OPEC to increase production in the coming months at the expense of the Kingdom of Saudi Arabia, which remains concerned that the second wave of the coronavirus pandemic will depress demand in 2021.

Kyiv accuses Bosnian President Dodik of lying about icon gifted to Russian foreign minister

bne IntelliNews January 6, 2021

Moscow returned the 300-year-old icon after Ukrainian officials warned it could have been stolen by mercenaries in the Russian-occupied Ukrainian city of Luhansk.

World Bank expects modest recovery for Europe and Central Asia in 2021

bne IntelliNews January 6, 2021

Recovery hinges on an effective rollout of coronavirus vaccines, averting further surges in cases that would threaten a rise in social and geopolitical tensions.

FDI inflows to CEE down 58% in 1H20 but rebound expected

bne IntelliNews January 5, 2021

Czechia, Latvia, Poland and Slovenia bucked the global trend of falling greenfield investment, while negative FDI flows to Russia dragged down the region’s performance, wiiw report shows.

Russian corporate profits at 2017 levels in October, but ahead of the last four years in m/m terms

bne IntelliNews January 2, 2021

Corporate profits bounced back strongly in October on the back of the summer’s rapid recovery from the lockdowns in the second quarter that saw retail sales return to about the same level as they were at in September 2019.

The Insider: Kremlin creating pro-Russia party in Belarus.

Ben Aris in Berlin December 30, 2020

The Kremlin is preparing to launch and support a pro-Russia political party in Belarus called “The Right of the People” that will take advantage of mooted changes to the constitution that will lead to fresh parliamentary elections.

Russian petrochemical giant Sibur closes $11bn joint venture deal to build Amur Gas Chemical plant with China’s Sinopec

Ben Aris in Berlin December 29, 2020

Russia’s leading petrochemicals company, Sibur Holding, and China Petroleum & Chemical Corporation (Sinopec) have closed an $11bn joint venture deal to build the Amur Gas Chemical Complex (Amur GCC).

Ukrainian utility DTEK launches new green strategy

Ben Aris in Berlin December 25, 2020

Ukraine’s leading utility DTEK announced a new corporate strategy on December 22 that will dramatically increase the share of green energy it produces and puts ESG principles at the core of its business

Russian government to sell First Channel TV broadcaster, but will keep golden share

bne IntelliNews December 25, 2020

The Russian government will sell control in Channel One, but will receive a verified investor and a “golden share,” The Bell reported on December 23.