Fresh data from the Moral Rating Agency shows that only 28% of the largest multinationals operating in Russia have denounced the war with Ukraine. Many others have issued evasive statements lamenting the tragedy, but failing to identify a cause.
Monument to the Liberators of Soviet Latvia and Riga from the German Fascist Invaders becomes the latest memorial to fall in the Baltic states in the wake of the Russian invasion of Ukraine
Deputy PM Zorana Mihajlovic accused the Russian foreign minister of “abusing” Serbia’s decision not to impose sanctions on Russia by falsely claiming Serbia supports Russia's invasion of Ukraine.
Caretaker government's decision to open talks with Russian gas giant sparked thousands-strong protest in Sofia.
Europe is facing its worst drought for 500 years, as the European Commission has warned that nearly half of the EU’s territory faces severe water shortages in August, as climate change has caused low rainfall levels and record-high temperatures.
Russia’s economy continues to do better than expected with industrial production falling only 0.5% y/y in July as after six months of war business adapts to the new conditions and put in a small gain in seasonally adjusted terms, Rosstat reports.
For all its billions spent, China still controls only a small share of Kazakh oil output.
We are looking at a very uncomfortable winter. The West has underestimated the size of the challenge that is fighting an economic war with Russia and the pain that he can inflict on our economies.
In the latest exit of an international brand, the Russian division of the US suitcase manufacturer Samsonite has been sold to its local management for an undisclosed sum.
Russian carmaker AvtoVaz has resumed production of Lada Granta 2022 line cars with airbags, the company said on August 24.
Siemens may sell its Russian leasing arm to a Russian investor. Local media reports that one of the frontrunners could be linked to sanctioned businessman Said Gutseriev. The deal may be worth as much as €800mn, according to bne sources.
Turkish President Recep Tayyip Erdogan said that Russia’s annexation of the Crimea peninsula in 2014 was “illegal” and that it should be returned to Ukraine during the Crimea summit on August 23.
Russia is on track for a record wheat harvest of 94.7mn tonnes, smashing the previous record of 84mn tonnes set in 2018, but exports are down by a quarter (27%) in the first two months of the new agricultural marketing year.
One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown.
A cluster of countries in the former Soviet Union have some of the highest suicide rates in the world.
Speculation again mounts that Kremlin is tampering with its southern neighbour’s shipments.
Pro-Russian Interior Minister Aleksandar Vulin meets top Russian officials on visit to Moscow as Serbia continues to defy EU pressure to join sanctions against Russia.
Supply shocks continue to plague the eurozone economy, causing inflation to show few signs of abating in the short run.
Since the sanctions came down on Russia there has been a bonanza of M&A activity as those companies and oligarchs that have been included in the lists have had to dump their subsidiaries to protect them from being targeted.
The world is looking to break its geopolitically risky dependence on imports of rare earth metals from Russia and China as East and West drift into an increasingly fraught showdown. Kazakhstan could become a major source of these metals.