Russian wheat export prices rose last week for the first time since mid-August, buoyed by demand from Egypt after it dropped its policy of not importing wheat containing the ergot fungus. Egypt’s state importer GASC bought 240,000 metric tons of Russian wheat last week, in its first successful tender purchase since abolishing the rule. Egypt…Details
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Oil market supply and demand can come into balance already in the second half of 2017 with market methods even if no agreements on the market stabilization are reached at the upcoming meeting in Algeria, Russian Energy Minister Alexander Novak reported. “Everything will depend on demand, supply, on the economic situation of many countries that…Details
The Russian Knights aerobatic team based in Kubinka near Moscow has started receiving the first Sukhoi Su-30SM (NATO reporting name: Flanker-C) multipurpose fighter jets, some Russian Internet sources recently said. According to public sources, the Irkutsk Aircraft-Manufacturing Plant, part of the Irkut Corporation, manufactured the first Su-30SM fighter jet in September. The plane was given…Details
Russian billionaire Mikhail Fridman, a co-owner of VimpelCom Ltd., is happy that Norway’s Telenor has begun selling its stake in the wireless carrier, because competition between the two companies in some markets created an “abnormal” situation on the board. Telenor, which began selling its 33% stake of VimpelCom Ltd. earlier in September, is a direct…Details
According to a spokeswoman for the company, Russian Aircraft Corporation MiG is currently holding talks with several potential buyers of the MiG-35 jet fighters. “At the moment, MiG-29 is being used in 29 countries around the world. All of these countries, some more and some less so, are interested in MiG-35s, as most of MiG-29s…Details
Russia’s Federal Antimonopoly Service has proposed to introduce a system of flexible excise duties on fuel, which can be revised every month, to stabilize a tax policy in the energy sector, the service’s Deputy Director Anatoly Golomolzin said. “We always speak about a necessity to introduce the system of flexible excise duties. The government gave…Details
Since the beginning of 2016/2017 MY and as of September 21, the volume of grain exports from Russia totaled 7.83 million tons, down by 9% YoY (8.582 million tons), the Ministry of Agriculture of the Russian Federation declared. According to the announcement, the wheat volumes formed 6.588 million tons from the reporting export volumes, barley…Details