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Business
sanctions adaptation
Russia to Extend Oil Production Cuts Until End of June
The production cuts, which amount to about 5% of daily output, were announced after Western countries announced new sanctions on Russian oil.
Pivot to Beijing
Russia Reports Record Gas Supplies to China via Siberian Pipeline
Russian energy giant Gazprom announced a record level of daily gas volume supplied to China through the Power of Siberia pipeline on Tuesday.
2 Min read
shrinking margin
Russian State Oil Giant Rosneft Profit Falls After Sanctions
Western powers have imposed a raft of sanctions against Russia, including a price cap on its crude, over the conflict in Ukraine.
1 Min read
Rusal revenue decline
Russian Aluminum Giant's Profit Plummets Almost 45%
Rusal blamed inflation and geopolitical tensions for higher production costs.
1 Min read
on hold
Strikers Force Russian E-Commerce Giant Wildberries to Rethink New Rules
Thousands of workers went on strike to protest new rules that make employees financially liable for goods returned by customers.
2 Min read
no trade
Nasdaq to Delist Russia’s Yandex, Other Tech Firms
Nasdaq said it has notified Yandex, Ozon, QIWI, HeadHunter and Cian of plans to delist their securities on March 24.
1 Min read
industrial inaction
Staff at Russian E-Commerce Giant Wildberries Begin Protest
Employees of Russian e-commerce giant Wildberries launched a nationwide industrial action to protest against a new payment system.
1 Min read
benefit revoked
Russia Moves to End Tax Deal With 'Unfriendly' Countries
Their statement follows an EU decision this week to add Russia to its tax-haven blacklist.
1 Min read
bottom line
Russia's Oil Revenue Sinks as Sanctions Bite – IEA
Russia, however, was still shipping "roughly the same" amount of oil to world markets, according to the IEA.
3 Min read
duty bound
Russia Resumes Publication of Trade Statistics After Year-Long Pause
Federal Customs Service is to resume publication of the country's official foreign trade data after a year-long hiatus, the agency announced on Monday...
2 Min read
economic measures
Canada Bans Aluminum, Steel Imports From Russia
Canada on Friday announced a ban on imports of Russian aluminum and steel products, with the aim of denying Moscow revenues to fund its war in Ukraine...
1 Min read
seeking relief
Sanctioned Billionaires Fridman, Aven to Sell Alfa Bank Stake in $2.3Bln Deal – FT
The two businessmen “want to do everything they can to get out of their Russian assets so that sanctions will be removed.”
2 Min read
Sberbank
Russia's Biggest Bank Announces Huge 2022 Fall in Profits
Russia's Sberbank on Thursday announced its net profit dropped nearly 80% in 2022 in the wake of the Russian invasion of Ukraine.
1 Min read
‘too much state’
Russia Faces Looming Foreign Investment Crisis, Oligarch Warns
Russian oligarch Oleg Deripaska urged the Kremlin to ease its rules on foreign investment on Thursday.
1 Min read
marking time
EU Imposes Fresh Sanctions on 121 Russian Businesses and Individuals
The EU finalized a new round of sanctions on Russia over its ongoing invasion of Ukraine on Saturday.
2 Min read
'untrue and misleading'
Heineken Denies Claim it Broke Promise to Exit Russian Market
Dutch giant brewer Heineken said Wednesday that it still planned to exit Russia after a media report accusing it of "breaking a promise" to leave over...
1 Min read
stabilized drop
Russian Economy Contracts by 2.1% In 2022 — Rosstat
The Russian economy contracted by 2.1% last year, the government's statistics agency Rosstat said Monday, absorbing Western sanctions over Moscow's military...
2 Min read
In depth
To Stay or to Leave? How 9 Major Western Brands in Russia Responded to the Ukraine War
Over 1,000 international companies have voluntarily curtailed their operations in Russia since the invasion. Though many remain.
6 Min read
damning report
Ukraine Calls Retail Giant Auchan 'Weapon of Russian Aggression'
Ukraine's foreign minister on Friday accused French retailer Auchan of being a "full-fledged weapon of Russian aggression" following a joint investigation...
2 Min read
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