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restructing plan

Putin Ally Alexei Kudrin Set to Run Tech Giant Yandex – Reports

Alexei Kudrin, a longtime ally of President Vladimir Putin, is expected to assume a leadership position in the restructuring of Russian tech giant Yandex...

foreign deposits

Russia’s 2022 Cash Outflow Hits All-Time High

Russians have moved a record amount of cash out of the country so far this year, state media has reported. The equivalent of $32 billion has been...

Turkey Becomes New Route for Russian Oil to EU – Think Tank

Moscow's revenues from fossil fuel exports fell in October to their lowest levels since the Ukraine invasion, but Turkey has become a new route for Russian...

U.S. Downgrades Russia from ‘Market Economy’ Status

The United States has stripped Russia of its classification as a “market economy” and downgraded it to a non-market country, the Commerce Department...

'no path' forward

Mazda Pulls Out of Russia Joint Venture Over Ukraine War

Japanese carmaker Mazda said Thursday it is pulling out of its joint venture in Russia because of the war in Ukraine, having ceased operations in the country...

increasing income

Tech Giant Yandex Reports Rising Revenues Despite Sanctions

Russian tech group Yandex announced on Thursday that its revenues continued to climb during the third quarter, despite Russia being under Western...

Dutch Owner to Sell Russian Telecoms Firm Vimpelcom

The Dutch firm that owns Russian telecoms operator Vimpelcom will sell its Russian operations, the company announced Wednesday, reportedly due to the growing...

untenable operations

Bridgestone Seeks Local Buyer for Russian Business

Japanese tiremaker Bridgestone said Monday it was seeking a local buyer for its business in Russia due to "general uncertainty and the ongoing...

Russian Central Bank Maintains Key Rate at 7.5%

The Russian Central Bank kept its key rate at 7.5% on Friday, an expected measure aimed at supporting the economy against a global trend of rising borrowing...

'sovereignty' of resources

Rosneft Head Sechin Slams EU’s Energy Price Cap

A Western cap on Russian energy prices destroys individual countries’ sovereignty and plays into the hands of the United States, Igor Sechin...

'nominal value'

Ford to Exit Russia With Joint Venture Sale

U.S. automaker Ford Motor announced Wednesday it has finalized a full exit from Russia with the sale of its minority stake in a Moscow region-based joint...

latest departure

Mercedes-Benz to Sell Off Russian Assets to Local Investor

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian Industry and Trade Ministry said Wednesday, becoming...

Zara Owner Inditex Says to Sell Russian Stores

Spanish fashion retailer Inditex said Tuesday would sell its stores in Russia, seven months after the Zara owner halted its operations in the country following...

'Rostic's' to go

KFC Owner Yum Brands Nears Full Russia Exit With Sales Deal

Yum Brands Inc announced Monday it has sold its KFC restaurants and franchise in Russia to a local buyer as one of the world’s largest restaurant...

ExxonMobil Exits Russia With ‘Unilateral Termination’ of Sakhalin-1 Assets

American oil giant ExxonMobil has completed its exit from the Russian market after President Vladimir Putin ordered the expropriation of its assets, the...

Danone Plans to Withdraw From Most of its Business in Russia

French food giant Danone announced plans on Friday to transfer the control of its essential dairy and plant-based business in Russia, retaining only its...

End of the road

IKEA announces 10,000 layoffs in Russia

Swedish furniture giant IKEA announced that it would be making around 10,000 of its remaining Russian staff redundant on Thursday, despite posting a 6%...

pipeline politics

Russia Denounces Exclusion From Nord Stream Leaks Probe

Russia's foreign ministry said Thursday it had summoned envoys of Germany, Denmark and Sweden to express "bewilderment" over Moscow's exclusion from an...

Putin Tells Erdogan Russia Could Create ‘Gas Hub’ in Turkey

Russian President Vladimir Putin on Thursday told his Turkish counterpart Recep Tayyip Erdogan that Moscow would consider developing a "gas hub" in Turkey...

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