Snake Island liberated, but Moscow accuses Ukraine of spreading fake news

Social media correspondent Dominic Culverwell July 2, 2022

Ukraine has reclaimed the famed Snake Island in the Black Sea, but the battle continues in the information sphere as Russia accuses Kyiv of spreading disinformation about the island’s liberation.

US and Chinese slowdown will tip the world into recession, says IIF

bne IntelliNews July 2, 2022

The worsening economic data coming out of the US and yet another coronavirus lockdown in China will tip the world into a global recession, the Institute of International Finance (IIF) said in a note on July 1.

New Putin decree could force foreign stakeholders out of Sakhalin-2 gas project

Ben Aris in Berlin July 1, 2022

Russian President Vladimir Putin signed a decree that will transfer all rights and obligations of the Sakhalin-2 oil and gas project to a new Russian entity, in effect giving the Kremlin the power to nationalise foreigners' stakes.

Russia threatens to sever diplomatic relations with Bulgaria over diplomat expulsions

Denitsa Koseva in Sofia July 1, 2022

Russian ambassador in Sofia says that Moscow may cut diplomatic ties with Nato member Bulgaria after Sofia rejected ultimatum to cancel expulsion of 70 diplomats.

NEO: Rising in the East, Setting in the West: Russia strengthens trade with Global East

NEO July 1, 2022

As global supply chains undergo a momentous shift and Western markets decouple from Russia, the latter is looking to new markets and old partners for trade and investment.

Russia’s manufacturing PMI in the black in June as the sanction shock starts to wear off

bne IntelliNews July 1, 2022

The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index was back in the black in June, posting 50.9, in line with 50.8 registered in May, as Russia’s economy stabilises.

Stagflation fears continue to rise

bne IntelliNews July 1, 2022

Global inflation refuses to be tamed and with price increases in the US hitting 8.6% in May, its highest level in 40 years, the Fed is expected to continue tightening monetary policy by hiking rates that will suck liquidity out of emerging markets.

As Turkey gets Biden backing for F-16s, Greece steals Erdogan thunder by moving for F-35s

bne IntelIiNews June 30, 2022

Turkish president says objections to Sweden and Finland joining Nato were all about terrorists and militants. Analysis still suggests a bigger issue in play is the autocrat’s determination to get his hands on warplanes.

FPRI BMB Ukraine: Surviving in Kherson

FPRI BMB Ukraine June 30, 2022

Slowly but surely, village by village, the Ukrainian army is advancing towards Kherson. This city of more than 200,000 inhabitants was one of the first large Ukrainian cities to fall in the early days of the conflict.

FPRI BMB Ukraine: Central Asia surprisingly neutral on Russian war in Ukraine

Alexander Thomas for FPRI BMB Ukraine June 30, 2022

To the surprise of many, each of the Central Asian Republics has maintained a neutral stance on Russia’s military operations in Ukraine.

Russian economy stable in May, but demand and income contraction deep

bne IntelliNews June 30, 2022

An upbeat data release by statistics agency Rosstat suggests that Russia’s economy is doing better than expected. Capital Economics has revised its estimates for the GDP contraction in the first quarter down from -15% to -10%.

Uzbekistan hit twice in a week by Ukraine war sanctions

bne IntelIiNews June 30, 2022

Tashkent loses bank deal and suffers blow as company accused by US of supplying microchips to Russian military-industrial complex.

Nato agrees 'fundamental shift' to counter Russia

Robert Anderson in Prague June 29, 2022

Security alliance’s leaders agree a big increase in troop deployments on its Eastern Flank, more help for Ukraine in its defence against Russian aggression, and a new Strategic Concept.

bneGREEN: Arctic in meltdown

Richard Lockhart in Edinburgh June 29, 2022

The Arctic is now heating up seven times faster than the rest of the world, with the region’s ice in danger of melting completely by 2050.

MOSCOW BLOG: Sanctions hit a brick wall

Ben Aris in Berlin June 29, 2022

The world is being divided into two: the West vs Russia and the non-aligned countries. The race to shore up these new relations is on. But the West has run out of one-way sanctions that hurt Russia but do little damage to the West.

EXPLAINER: how a price cap on Russian oil might work

bne IntelliNews June 29, 2022

Europe is scrambling to find alternatives to Russian crude oil, natural gas and coal. But the fact remains that despite recent cuts in the amount that the EU buys from Russia, Moscow’s revenues from hydrocarbon exports still surged 40% this year.

Kazakhstan: Sanctions likely behind fresh delay at new Baikonur launchpad

Eurasianet June 29, 2022

Russian space chief Dmitri Rogozin has indicated that developers of a craft being designed for the pad will have to work around sanctions.

Europe’s gas storage on track to meet 80% full by start of heating season

bne IntelliNews June 29, 2022

Europe’s gas storage tanks were 58.23% full as of June 26 and are still on course to hit the EU target of 80% full by October 1, the traditional start of the heating season, despite Russian cuts in gas flows to Europe this month.

Russia catches a nasty dose of the Dutch Disease

Ben Aris in Berlin June 29, 2022

Russia has caught a bad case of the Dutch Disease, an economic ailment that sends the value of a currency soaring well beyond what it should be and smothers the rest of the economy.

Bulgaria expels 70 Russian diplomats

Denitsa Koseva in Sofia June 28, 2022

Mass expulsion is unprecedented for Bulgaria, which until recently was seen as one of Russia’s most loyal allies in the EU.