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Business

cut ties

Ex-German Chancellor, Nord Stream CEO Resign from Rosneft

Gerhard Schroeder and Matthias Warnig are both long-term friends of Russian President Vladimir Putin.
'strategy update'

Russia’s Sber Sells Off Digital Services to Evade Sanctions – Reports

Sber has sold its video, audio and sports streaming platforms, as well as its cloud technology and biometric system research center.
Big Mac To Go

McDonald’s Agrees Sale of Russian Restaurants to Siberian Oil Magnate

Govor already operates 25 of the chain’s restaurants in Russia.
Full Speed Ahead

Russia Approaches Chinese Firms to Revive Soviet-Era Moskvitch Cars – Reports

Moscow’s mayor announced plans to bring back the model after nationalizing the city's Renault-owned car plant.
financial insolvency

Google Russia to File for Bankruptcy

The tech giant's Russian subsidiary was fined $113.5 million in December 2021 for failure to remove content banned in Russia.
market woes

Mortgage Loans Suffer ‘Largest Fall’ in Russia’s History – RBC

The fourfold decrease comes despite government measures to avert the fallout from war-related Western sanctions.
Goodbye Golden Arches

McDonald’s to Sell Russian Business, Ending 32-Year Presence

The U.S. fast-food giant will sell 847 restaurants across the country to a local buyer.
change of hands

Russia to Nationalize Renault Plant, Revive Soviet-Era Moskvitch Car After Handover

Renault had had the most exposure to the Russian market among Western carmakers before it pulled out over the invasion of Ukraine.
Spoiled Season

Crimea Tourism Industry Hit by Ukraine War Disruption

Russian tourists are canceling holiday bookings because of travel difficulties and safety concerns.
shipping sell-off

Russia’s Sovcomflot Sells Tankers as Sanctions Loom – WSJ

The European Union and Britain have ordered banks and companies to extricate themselves from Russian contracts by May 15.
shrinking inventories

Ukraine War Drives Up Russia’s Auto Part Prices – Kommersant

“There’s enough spare parts in stock for two to four months of work,” one dealer said.
economic confidence

Putin Says Sanctions Hurting West More Than Russia

Putin also welcomed the "gradual" slowdown as well as the recovery of the ruble.
energy artery

Russia’s Gazprom Halts Gas Transports to Europe Via Poland Pipeline

The Yamal-Europe pipeline can carry up to 33 billion cubic meters of gas from Russia's Yamal peninsula and western Siberia to Germany.
big league

Abramovich Sells Chelsea Football Club for Record Price

The club was purchased by a U.S. consortium, but Abramovich will not personally benefit from the sale.
'Winding down'

Siemens Announces Russia Exit Over Ukraine War

The company also vowed to provide humanitarian assistance in Ukraine.
shipments by train

Russian Rail Freight Falls in 6-Year First – Vedomosti

Experts linked the drop to disruptions in export supply chains from western sanctions imposed on Russia.
Sanctions Impact

Russia Car Sales Sink 78.5% in April

Just 32,706 vehicles were sold in April, according to the Association of European Businesses.
blocked transit

Ukraine Says Russia Halts Gas Supplies at Key Transit Point

The move fuels fears that the Kremlin's invasion could see gas supplies to Europe via Ukraine cut off.
Pirating goods

Moscow Allows Sanction-Busting Imports

This mechanism will allow Russia to avoid shortages of goods that it is currently unable to produce itself. 
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