The Russian government has signed a ruling allowing imports of oranges, tangerines, apricots, peaches, plums and blackthorn from Turkey. But imports of grapes, apples, pears, strawberry, tomatoes and some other fruit and vegetables are still prohibited. Russia banned imports of some fruit and vegetables from Turkey from January 1, as part of retaliatory measures after…
DetailsRussian oil companies will cut their output if the government decides to decrease it, Leonid Fedun, the vice president at oil major Lukoil, reported. On October 10, president Vladimir Putin said that the country was ready to join OPEC in a freeze of oil production, if such an agreement was reached. “Joint actions of all…
DetailsRussia will lift restrictions on import of all citrus fruit, pears and plums from Turkey, assistant head of Russian phytosanitary watchdog Rosselkhoznadzor Alexei Alexeenko reported. “These are all citrus fruit and drupes, traditional fruit for Turkey – pears, plums, etc.”, Alexeenko said. Fruit will be supplied to Russia from regions free from quarantine pests and…
DetailsThe Russian government has not rejected the idea of creation of an international financial center in the country, but will develop a new road map for the project, Deputy Finance Minister Alexei Moiseyev reported. “We have not rejected the international financial center, we have fulfilled the previous road map. Now we are developing a new…
DetailsThe Russian Economic Development Ministry will suggest the government privatize another 8% in uncut diamond mining giant ALROSA in 2017, Minister Alexei Ulyukayev reported. In July, the government sold 10.9% in state-run ALROSA to private investors for 52.181 billion rubles on the Moscow Exchange. “We’ve put forward this option. We will continue to suggest it…
DetailsOil major Rosneft will join OPEC in its efforts to cut production if such decision is taken and ensure that the Russian policy is fulfilled, spokesman Mikhail Leontyev reported. “Of course, the company will comply with it, if the decision is made, we will fully ensure compliance with state policies, will do everything it will…
DetailsAs of October 10, Russian agrarians continued harvesting grains and pulses. Agrarians harvested grain crops throughout the general areas of 43.5 million ha (on the same date in 2015 – 41.7 million ha), or 92.1% of the planned areas (47.3 million ha). The produced volumes reached 113.8 million tons of grains, with the average yield…
DetailsIn August Russia exported 349.8 KMT of barley, down by 42.5% YoY (606.7 KMT). During two months of the season shipments decreased by 33% – to 801.9 KMT against 1197.9 KMT in July-August 2015/2016 MY. In addition, according to market operators, barley exports from Russia continued to decline in September. During the reporting period shipments…
DetailsIn January-September the seaports of Russia increased the shipment volumes of grains by 2.1% YoY to 24.3 million tons, the Association of Sea Commercial Ports of the Russian Federation announced. The general cargo turnover in the Russian seaports grew by 5.7% YoY and totaled 531.7 million tons. According to the announcement, the export cargo shipment…
DetailsRussian oil major Lukoil, which was earlier named as one of the main contenders for the government’s stake in oil company Bashneft, has dropped plans to participate in privatization due to its high price, Vice President Leonid Fedun reported. “It is too expensive”, he said. “We’ve made a preliminary bid, but we understand a price…
DetailsAn $80 per barrel oil price would be the market’s “golden mean,” Vice President of Russian oil producer Lukoil Leonid Fedun reported.
“The price which the market needs now in order for us to satisfy global demand until 2030 is $80 per barrel, according to our estimates”, Fedun said. (Prime/Business World Magazine)
Russian Energy Minister Alexander Novak has met with European Commission Vice President for Energy Union Maros Sefcovic and discussed natural gas pipeline projects OPAL, Nord Stream-2 and Turkish Stream, the Russian Energy Ministry said in a statement. Novak and Sefcovic also discussed Russia’s gas exports to Ukraine and the transit of gas through the country…
DetailsThe Kremlin does not see Igor Sechin, CEO of oil major Rosneft, contradicting position of President Vladimir Putin regarding Russia’s readiness to curtail oil output, spokesman for Putin Dmitry Peskov reported. Sechin said that Rosneft would not cut or freeze production despite Putin’s comments and OPEC’s agreement to limit daily oil output at 32.5-33 million…
DetailsSecretary of the National Security and Defense Council of Ukraine (NSDC) Oleksandr Turchynov at a meeting with Romanian Minister of National Defense Mihnea Motoc has discussed the prospects of bilateral cooperation in the military-technical sphere and the field of security and defense. According to the NSDC’s press service, during the meeting in Kyiv the sides…
DetailsThe share of distressed assets at Belarusian banks has grown by 8% since early 2016 to 15% at the moment. First Vice Chairman of the National Bank of Belarus (NBB) Taras Nadolny released these figures at the conference “The Role of the Export-Import Agency in the Belarusian Economy” on October 7 in Minsk. Stress test…
DetailsIn 2015/2016 MY, profitability of Ukrainian flour exports is quite low in comparison with other countries, the adviser to the Chairman at Agrarian Fund PJSC Sergei Sakirkin declared. According to him, in 2015/2016 MY Ukraine supplied 344 thousand tons of flour to foreign markets valued at $72.29 million, while the USA – 303 thousand tons…
DetailsOn October 11, National Mercantile Exchange CJSC (NAMEX) held the regular stock exchange trading within frames of public grain purchasing interventions in the regional trading platforms of Russia, and purchased 44.415 thousand tons of grains (from the proposed volume of 49.95 thousand tons) valued at 407.325 million rubles. In particular, the fund purchased 6.75 thousand…
DetailsNibulon is going to invest in Ukrainian river transport no less than $300 million, general director of Nibulon Andrey Vadatursky announced. Strategic plans of Nibulon in internal water transport include construction of 5 new river transshipping terminals and a further construction of transport ships for internal and mixed routes (in 2016 8 new ships will…
DetailsSuch decision was made by Ukrainian parliament. The moratorium for purchasing and selling of agricultural land or for other way of land alienation will remain effective until further regulations on the governmental level are adopted, but no earlier than January 1, 2018. Adoption of decision on land issue had not been expected to be put…
DetailsMicrosoft has added Russian to the list of languages supported by Skype Translator in simultaneous interpreting of video calls and its other products on the basis of the Microsoft Translator platform, the U.S. company said in a statement. “The inclusion of Russian into the catalogue of Skype Translator is a result of multi-year research and…
DetailsLipetsk Region of the Russian Federation is interested in expanding food supplies from Belarus. Cooperation prospects in the area were discussed during the official visit of the delegation from Lipetsk region led by Deputy Head of the Administration Andrei Kozoderov to Belarus on October 3-6. The delegation of Lipetsk region got familiar with the Belarusian…
DetailsA record-high grain and other crops harvest has been gathered in Kazakhstan this year, Deputy Minister of Agriculture Kairat Aituganov said. The gross grain harvest amounted to 23.1 million tons in bunker weight, up 1.4 times YoY. The average yield totaled 15.2 hundredweights per hectare. Of that amount, 5.7 million tons of grain was harvested…
DetailsIn January-August Russia exported 13.967 million tons of wheat and meslin valued at $2.366 billion, the Federal Customs Service of Russia declared. According to the announcement, the major volumes of wheat were traditionally shipped to far abroad foreign countries – 13.278 million tons ($2.25 billion). In the reporting period, wheat import volumes to Russia totaled…
DetailsGermany’s credit institution KfW is providing a EUR 150 million loan for implementation of a project to reconstruct substations in eastern Ukraine. The individual loan agreement between Ukraine’s Cabinet of Ministers and KfW was signed at the ninth meeting of the Ukraine-Germany high-level group on economic cooperation. Eva Witt, KfW Director for Eastern Europe, Caucasus…
DetailsThe Finance Ministry of Belarus forecasts that the country’s state debt will grow to 42% of the GDP by late 2016. Vice Minister of Finance Yuri Seliverstov made a statement to this effect at the conference “The Role of the Export-Import Agency in the Belarusian Economy” on October 7, in Minsk. Belarus’ state debt now…
DetailsRussia’s gross domestic product (GDP) may grow by 0.2% in 2017, by 0.9% in 2018 and by 1.2% in 2019, according to a baseline forecast by the Economic Development Ministry in the ministry’s adjusted 2017-2019 social and macroeconomic development forecast. In 2016, GDP contraction will slow down to 0.6%, the ministry said. The ministry based…
DetailsThe Individuals Deposit Guarantee Fund seeks to put 100% of corporate rights and intellectual rights to the trademark of the Yarych confectionary factory (Lviv region) up for sale. The fund said in a press release that loans of the company on the balance sheet of Bank Forum would be auctioned. The bank also has buildings…
DetailsRussia’s foreign trade surplus decreased by 48.1% YoY to $63.1 billion in January-September, the central bank said.
In January-September 2015, the foreign trade surplus amounted to $118.2 billion. (Prime/Business World Magazine)