bneGREEN: Green policies set to reduce EU gas demand to baseload core

By Richard Lockhart in Edinburgh October 18, 2021

While the current gas crisis in the EU sees record-high wholesale gas prices, hurting consumers and causing the latest round of a supply disputes with Russia, the race to net zero by 2050 could have deeper long-term consequences for EU gas demand.

Kudrin pours cold water over the Kremlin’s budget optimism, says 3% growth unobtainable

Ben Aris in Berlin October 18, 2021

Former Finance Minister and Audit Chamber head Alexei Kudrin poured cold water over the government’s new budget, saying in a report the assumptions are overly optimistic and the forecast 3% growth for this year is “nowhere to be seen.”

Russian car-sharing major Delimobil files for listing in New York

East West Digital News in Moscow October 17, 2021

Delimobil Holding SA, a Luxembourg-registered, Moscow-based car-sharing company, filed for listing on the New York Stock Exchange on October 8.

Efforts to deploy US counterterrorism forces in Uzbekistan may not be over

Muzaffar Ismailov in Tashkent & Will Conroy in Prague October 16, 2021

Tashkent holds firmly to ‘No’ but Putin underlines difficulty of Afghanistan situation by saying intelligence indicates 2,000 Islamic State members may be present in north of country alone.

Russian internet major Yandex adds London to foodtech expansion

bne IntelIiNews October 15, 2021

Russia’s ultrafast grocery delivery service Yango Deli that can get goods to customers in under 15 minutes has launched in London, the company said in a press release on October 14.

bneGREEN: Russia to become carbon neutral by 2060

Ben Aris in Berlin October 15, 2021

Russian President Vladimir Putin set the goal of carbon neutrality by 2060 during comments in his speech at the plenary session of Russia’s Energy Week on October 13. Group pursues gaming acquisitions across Russia and Belarus

East West Digital News in Moscow October 14, 2021 Group’s appetite for acquisitions in the gaming space was confirmed again today as My.Games Venture Capital (MGVC), the investment arm of its subsidiary My.Games, announced minority investments in three game studios.

Metalloinvest hires Knauf executives as independent directors to boost corporate governance, ESG

bne IntelliNews October 14, 2021

Leading Russian metallurgical company Metalloinvest has hired Alexander Blumhardt and Manfred Grundke from the global construction materials group Knauf, to serve on the board as independent directors to boost the company’s corporate governance.

Russian internet major rebrands to VK in ecosystem drive

bne IntelliNews October 14, 2021

Russia's internet major Group announced its rebranding into VK, the name of the social network (former VKontakte) and the key asset of the group.

bneGREEN: Governments still woefully short of IEA’s net-zero requirements

By Richard Lockhart in Edinburgh October 13, 2021

Governments need to smash the stubborn dominance of fossil fuels if the world is to reach net zero by 2050, despite the rapid development of green technologies, the IEA warns.

Putin blames low wind power output for gas crisis

bne IntelliNews October 13, 2021

Low wind power output in Europe has played a role in causing the current gas supply crisis in Europe, Russian president Vladimir Putin said in speech on October 13.

FPRI BMB Russia: Russia launches its Strategic Initiatives programme

FPRI BMB Russia October 13, 2021

The Russian government approved a list of 42 strategic initiatives for socio-economic development of the country on October 7. Their aim, according to the official announcement, is “to improve people’s quality of life."

Non-oil exports driving Russia towards new all-time high current account balance this year

bne IntelliNews October 13, 2021

Non-oil exports drive Russia’s current account balance to a historical quarterly high of $40.8bn in the third quarter, the CBR reported on October 11.

Familia leads Russia’s off-price retailers with knock-down high fashion offering

Ben Aris in Berlin October 12, 2021

What happens to last season’s clothing that big fashion retailers can’t sell? Landfill is not the only choice for producers. Enter off-price retailers, who buy the end-of-season surplus from top names and sell it at low prices.

ING: Russian ruble enters 4Q21 on a strong note

Dmitry Dolgin chief economist Russia at ING in Moscow October 12, 2021

Russia's exceptionally strong current account surplus helped the ruble outperform its peer currencies in 3Q21 and is likely to keep doing so in 4Q21. As a result, we see USDRUB appreciating to 70.0-71.0 in the coming month.

From Dutch earthquakes to a UK fracking ban: how declining European gas supply has contributed to the current crisis

bne IntelliNews October 12, 2021

There are many underlying causes behind the current gas supply crisis unfolding in Europe. A “V” shaped market has seen global gas demand surge but adding to a perfect storm is that the EU's own gas production has been plummeting.

Nobel prize fight

Leonid Razgozin in Latvia October 11, 2021

In 1993, Mikhail Gorbachev spent a small portion of the money from his Nobel Prize for Peace, awarded three years prior, on eight computers requested by a modest journalistic startup. The latter grew to become the liberal newspaper Novaya Gazeta.

Murat Aliev’s Bonum Capital deal consolidates Russian forestry sector

Ben Aris in Berlin October 11, 2021

Russia is home to a fifth of the planet’s forests, more than any other country in the world by a comfortable margin. But the country’s share in the global forest products market is just 4%, according to the UN.

STOLYPIN: It isn’t the ‘Usual Suspect' who is really 'weaponising gas'

Mark Galeotti October 11, 2021

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.

Russian international reserves fall $10bn to $612bn

bne IntelliNews October 11, 2021

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.