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Business

more money more problems

Russian ATMs Reject New 100-Ruble Bill – Kommersant

The leading U.S. ATM and point-of-sale terminal manufacturers have left Russia over its invasion of Ukraine.  
Energy security

Putin Replaces Sakhalin-2 Energy Project Operator With New Domestic Entity

Japan has warned against its interests in the project being "undermined."
paying the price

Oil Market Faces Shortfall With G7 Price Cap Plan – Russia

Moscow said G7 plans to cap the price of Russian oil would lead to a shortfall on world markets.
Economist behind bars

Top Russian University Head Vladimir Mau Detained on Fraud Charges

Mau is also a member of the board of directors of state-owned gas giant Gazprom.
Non-Payment

State Firms Gazprom, Sberbank Opt Out of Dividend Payout

Shares tumbled at both companies, which had previously predicted record payouts.
Roll Credits

Russian Cinemas Sit Idle Amid Hollywood Walkout

Revenue and attendance have both plummeted at Russia's major cinema chains.
Risk aversion

China’s Honor Smartphone Maker Halts Russia Shipments – Vedomosti

Overall smartphone sales in Russia fell by 30% compared with April-June 2021.
Pump the brakes

Russia’s Car Manufacturing Collapses by 97% in May

Russia manufactured 3,700 cars in May — 97% fewer than the same month last year.
Industry Fears

Crimea Sees Tourist Numbers Plummet Amid Ukraine War

Hotels in Crimea have seen guest numbers fall by more than a third compared to last year.
currency control

Russia Mulls FX Interventions To Tame Ruble’s Rise

A strong ruble is not desirable for the Russian government, which fears it can hit budget revenues and exports.
'context of uncertainty'

Michelin Tire Group to Give Up Russia Business

The French tire maker will transfer its activities in Russia to local management.
financial milestone

Moody’s Declares Russia in Default

The missed interest payment on foreign debt marks Russia's first such default since the Bolshevik revolution in 1918.
‘Artificial’ default

Russia Denies Defaulting on Foreign Debt

Russia's grace period on about $100 million in interest on its foreign debts expired Sunday night.
Export Ban

Four G7 Powers Impose Gold Export Ban on Russia

The measure “will directly hit Russian oligarchs and strike at the heart of Putin's war machine," said British Prime Minister Boris Johnson.
regulation rollback

Russia Slashes Environmental Protections as War Rages, Economic Crisis Looms

Business lobby groups have been at the heart of efforts to persuade the government to soften regulations on emissions and pollution standards. 
ending presence

Cisco Announces Wind-Down of Operations in Russia, Belarus

A growing number of Western businesses are now completely exiting Russia instead of keeping their operations suspended. 
'obligations fulfilled'

Russia Says Dollar Debt Repaid in Rubles Amid Default Fears

The country last defaulted on foreign currency debt in 1918.
by the backdoor

iPhones, Gaming Consoles Enter Russia As ‘Parallel Imports’ – Kommersant

The items were likely intended for one of the other four members of the Moscow-led Eurasian Economic Union.
running out

Nike Says Permanently Exiting Russian Market

The U.S. sportswear giant had suspended its Russian operations nearly four months ago.
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