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Articles with tag "business"

Russian Car Sales Plunge 27.5% Year-on-Year

Over 70% of all new passenger vehicles sold in Russia since the beginning of the year were produced in either 2023 or 2024.

Rusagro Cedes Meat Producer Stake to Belgorod Region After Owner’s Arrest

Rusagro began acquiring Agro-Belogorye in 2019 and finalized its consolidation last November, becoming Russia’s second-largest pork producer.
2 Min read

Putin Says Russia Should ‘Strangle’ Foreign Tech Companies

“I say this without hesitation,” the president told a group of business leaders. “We must respond in kind, mirror their actions.”
2 Min read

Dozens of Russian Companies Suspend Dividend Payments Amid Economic Uncertainty

High interest rates, reduced revenue and sanctions pressure are taking their toll on some of Russia's largest firms.
2 Min read

70% of Italian Firms Stayed in Russia Following Ukraine Invasion, Trade Official Says

Companies that stayed “are asking themselves whether it's worth staying or not,” the president of the Italian-Russian Chamber of Commerce said.
2 Min read

Rosneft Takes Over Russia’s Largest Rare Earth Deposit

The acquisition by Rosneft comes after President Vladimir Putin slammed the project’s previous operator over development delays. 
1 Min read

‘It Will Never Be the Same’: Can the West Win Back Russia’s Market from China?

The U.S. is interested in dissuading Moscow from aligning too closely with Beijing. But this shift is unlikely to be fully reversed.
7 Min read

Farm Equipment Giant Rostselmash to Furlough 15K Workers Amid Slumping Sales

“Farmers have no money to buy the equipment they need, and the market has drastically shrunk as a result,” the company said in a statement.
1 Min read

McDonald's and Coca-Cola Rule Out Return to Russia

The statements pour cold water on recent media reports and speculation on social media that Western brands were preparing to re-enter the market.
2 Min read

Retail Giant Magnit to Buy Premium Supermarket Chain Azbuka Vkusa for $490M

As part of the deal, Magnit will also acquire five kitchen factories and three distribution centers in Moscow and St. Petersburg, sources told RBC.
1 Min read

Russian State Bank Takes Over Leading Online Marketplace Avito

The move is part of a broader wave of strategic e-commerce acquisitions that has seen Russia’s digital economy increasingly come under state control...
4 Min read

Swiss Commodities Giant Glencore Sells Off RussNeft Stake

Glencore first invested in RussNeft in the early 2000s, playing a role in the company’s development at a time when Russia’s oil sector was rapidly...
2 Min read

Ex-Husband of Russia’s Wealthiest Woman Ordered to Pay Her $2.6M

Wildberries’ merger with Russ Group last year sparked a bitter corporate and personal dispute between Tatiana Kim and Vladislav Bakalchuk.
2 Min read

Raiffeisen Pauses Russian Bank Sale Amid U.S.-Russia Talks – FT

Raiffeisen Bank International has faced pressure from both U.S. and European authorities to reduce its presence in the Russian market.
2 Min read

Moscow Court Awards Russia’s Wealthiest Woman Ex-Husband’s Stake in Online Retailer

Tatiana Kim divorced her ex-husband Vladislav Bakalchuk after a surprise merger with outdoor advertising firm Russ Group last summer.
1 Min read

Russia to Supply Army Using Seized U.S.-Owned Food Company – Reports

Glavprodukt’s new management reportedly claimed the takeover was needed to ensure stable supplies to the National Guard and the Defense Ministry.
2 Min read

Wildberries Accused of Hiring North Koreans at Moscow Region Warehouse

The online retailer said it launched a pilot project to employ foreign laborers but did not address claims that it recently hired “hundreds” of North...
2 Min read

Buyback Options Expired for 30% of U.S. Companies That Left Russia, AmCham Says

AmCham Russia President Robert Agee previously estimated that around 150 U.S. companies have left Russia, while a similar number remain.
2 Min read

Russia's IT Sector Fears Re-Entry of Western Competitors

Russian IT companies are concerned that increased foreign competition might make their already precarious situation yet more difficult.
5 Min read

Asian Business Giants Thrive in Russia Despite Sanctions

Their presence reveals a divergence between Western corporate exodus and Eastern mercantile strategy.
3 Min read
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