For first time Turkey’s LNG imports outstrip pipeline gas imports

bne IntelIiNews May 28, 2020

Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.

A third of Russians believe that the danger of the coronavirus epidemic is exaggerated or a fiction

bne IntelliNews May 28, 2020

A third of Russians (32.8%) believe that the danger of the coronavirus epidemic is exaggerated, or they consider it to be an invention of interested parties, according to a study conducted by the Higher School of Economics (HSE).

Russia’s VTB trapped in a London lockdown until 2024

Jason Corcoran in Dublin May 28, 2020

Russians state-owned banking giant VTB is trapped in an expensive lease for its European headquarters in London for another four years even as the Kremlin-controlled lender builds up a new investment base in Frankfurt, bne IntelliNews can reveal.

Russian retail sales down by a quarter year on year in April, as unemployment soars

bne IntelliNews May 27, 2020

Russia’s April lockdown hit the statistics this week, after Rosstat reported that retail sales were down a massive 23.4% year on year and unemployment almost doubled in the month, the state statistics agency said on May 27.

Russian policy veteran Kudrin urges seizing of the COVID moment for visionary reform

bne IntelliNews May 26, 2020

The head of Russia's Audit Chamber Alexei Kudrin has published an oped laying out his vision of the state anti-crisis policy amid the coronavirus epidemic.

Russia's Yandex.Taxi's IPO still on, as it struggles to stay profitable

Vladimir Kozlov in Moscow May 25, 2020

Yandex.Taxi, the ride-hailing arm of Russian online giant Yandex, is pushing ahead with its plans to organise its highly anticipated initial public offering (IPO), while struggling to remain profitable despite the crisis

Russia's IT segment looks at losses in Q2

Vladimir Kozlov in Moscow May 25, 2020

Hit by the coronavirus (COVID-19) crisis and lockdown measures aimed at curbing the pandemic, the Russian IT segment expects losses in the April-June period, unless support measures are offered by the government.

Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields

bne IntelliNews May 22, 2020

Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.

Chechen strongman Kadyrov admitted to hospital with coronavirus

bne IntelliNews May 22, 2020

The leader of Chechnya and one of the most controversial figures in Russian politics, Ramzan Kadyrov, has reportedly been admitted to “one of the best hospitals in Moscow” after he was believed to be infected with the coronavirus

Russian OFZs are an Emerging Markets investor's safe haven

Ben Aris in Berlin May 22, 2020

Russia has emerged as a safe haven for investors during the coronavirus (COVID-19) pandemic that has rocked capital markets around the world, according to a paper from the Institute of International Finance (IIF).

Moscow wounded by the coronavirus epidemic, but best prepared to weather the storm

Ben Aris in Berlin May 21, 2020

More than half of all Russia’s 300,000-plus registered cases of coronavirus infections are in Moscow, making it the epicentre of the Russian epidemic. But its size and wealth makes it the best able to cope with the crisis.

Russia's finance ministry places $2.4bn of OFZ bonds, 2020 sales tip over $14bn

bne IntelliNews May 21, 2020

Russia's finance ministry continued to place record-high volumes of OFZ bonds on weekly auctions, selling RUB170bn ($2.4bn) worth of federal bonds in three issues at a total demand of over RUB230bn ($3.2bn) this week.

Government may delay Yarovaya data law requirements for one year, due to pandemic

bne IntelliNews May 20, 2020

The government may delay imposing part of the investment obligations on telecoms companies under the so-called Yarovaya law for a year to ease the pressure during the pandemic crisis that would have cost $1bn.

Russia’s GDP shrinks by 20% in April, but government maintains a triple surplus

bne IntelliNews May 20, 2020

Russia’s economy shrank by a fifth in size in real terms in April, according to preliminary data released by the Ministry of Finance, but at the same time the government has managed to maintain a triple surplus in its external account.

Business rallies to help in fight against coronavirus across Eastern Europe and Central Asia

Ben Aris in Berlin May 20, 2020

Business leaders across the Former Soviet Union are using some of the riches they have amassed in the last three decades to help in the fight against the coronavirus.

Gazprom starts designing $20bn gas pipeline to China

bne IntelliNews May 19, 2020

Russia’s Gazprom is pushing ahead with plans to build a second major gas pipeline to China.

Russa’s coronavirus cases close to 300,000 but PM says growth in new cases has halted

bne IntelliNews May 19, 2020

Slowdown in new cases in Eastern Europe, while lockdowns already being lifted in Central and Southeast Europe.

CONFERENCE CALL: 5G to turbocharge post-COVID recovery

Ivana Jovanovic in Stuttgart May 18, 2020

The coronavirus pandemic has been a fertile breeding ground for 5G conspiracy theories, and legitimate concerns about security still need to be addressed, but rolling out 5G mobile networks in Europe could give economies a much-needed boost.

Russia maintains budget surplus, external position in April 2020

bne IntelliNews May 18, 2020

Amazingly In April, Russia maintained double surpluses in its external accounts with a trade surplus of $3.5bn ($35.6bn in 4M20) and a current account surplus of $1.8bn $23.5bn 4M20) despite the catastrophic collapse in oil prices.

OPINION: Why the Russian economy will inevitably become green after the COVID-19 epidemic is over

director of Creon Capital in Luxembourg May 18, 2020

Investors are “risk on” again thanks to the coronavirus, but the climate crisis has not gone away, nor has work to build a financial green infrastructure stopped. Russian companies will inevitably join the fray and are already taking action