Contents tagged with China

  • Russia’s largest petrochemical project declared unprofitable

    The Russian oil company Rosneft has abandoned its plans to invest in the Eastern Petrochemical Complex (EPC) in the Far East, the company’s first vice president Pavel Federov said in a conference call, reports.

    The $12 billion project, which was meant to be built in Primorsky Krai and become Russia’s largest petrochemicals cluster, was found to be unprofitable.

    The complex, which was expected to include oil refineries with a total annual capacity of 12 million tons and 3.4 million …

  • Kremlin: China is interested in increasing gas supplies from Russia

    The Chairman of the Management Committee of Russian energy company Gazprom, Alexey Miller, on the air of the program “Moscow. Kremlin. Putin " said that Gazprom’s Chinese partners from the state-owned oil and gas company the China National Petroleum Corporation (CNPC) show great interest in increasing the supplies beyond the volume agreed in the thirty-year contract, reports news agency TASS.

    The current contract for the supply of Russian gas to China through the Power of Siberia pipeline, …

  • Kremlin: Russia is ready to negotiate nuclear disarmament

    Russian Presidential Aide responsible for international affairs, Yuri Ushakov, commented on the United States President Donald Trump’s statements, who urged Moscow and Beijing to abandon nuclear weapons, and noted that, the U.S. themselves would like to reach such agreement.

    “First of all, it is necessary to carry out what remains (the existing agreements),” RIA Novosti quoted Ushakov’s view expressed in the program “Moscow. Kremlin. Putin "on the TV channel Russia 1.

    According to the …

  • Kremlin: China complies with anti-Russia sanctions but does not support them

    Despite the fact that China has joined the anti-Russian sanctions, it does not support them, said Kremlin spokesperson Dmitry Peskov in an episode of “Moscow. The Kremlin. Putin” on the TV channel Russia-1.

    “Many Chinese banks and economic structures have been forced to observe the same restrictions that are applied by the Americans and other countries, because we still live in the century of interdependent economics. This is why, of course, caution is quite often exercised by our Chinese …

  • Putin and Lukashenko discussed contaminated oil supply from Russia

    At the “One Belt, One Road” summit in China, Vladimir Putin announced that he had discussed the low-quality oil supply situation with his Belarusian counterpart Alexander Lukashenko.

    The president said it was necessary to conduct an investigation, not ruling out the involvement of Russian law enforcement and special services if the internal corporate investigation is not enough. “First of all, it is necessary to conduct an investigation at the level of Transneft itself, and to identify the …

  • China refuses to share profit from joint plane venture with Russia

    Russian United Aircraft Corporation (UAC) ran into problems when it attempted, in collaboration with China, to create the first Russian wide-body passenger aircraft since the times of the USSR.

    Two sources close to UAC told  the Russian publication Vedomosti that having agreed to split the cost of creating the CR929 airliner ($20 billion) in half, the Chinese partner, COMAC, does not want to allow Russia access to the key Chinese market allowing it to turn a profit from selling the aircraft …

  • Chinese company to sue Ukraine for wrongful seizure of property

    China National Building Material (CNBM) has notified the Ukrainian Justice Ministry about an investment dispute surrounding the Voskhod Solar power station in the Mykolaiv region, the Ukrainian News Agency reports.

    This indicates that the Chinese company intends to file a lawsuit against the Ukrainian government if the parties cannot reach an agreement.

    CNBM, which owns Voskhod Solar, claims that the company has become the object of a corporate raid and forceful property seizure by the …

  • Russian Defense Minister volunteers soldier labor to build railway line to China

    Desperate to find contractors for its major construction projects, the Russian government has even turned to the army.

    At the sidelines of the Krasnoyarsk Economic Forum, Sholban Kara-ool, Chairman of the Tuva Republic (a Federal subject of Russia), told the Russian news agency RBC that the Kyzyl – Kuragino – China railway line will be built by soldiers.

    For Tuva, the poorest region of Russia, where the GDP per capita is only half the national average, the railway line will become the first …

  • China refuses to lend yuans to Russian government

    The Russian government’s decision to turn to the East in its economic and foreign policy in response to western sanctions continues to face difficulties, reports

    The project to issue sovereign bonds denominated in Chinese yuans, which the Russian government has been discussing since 2014, has once again been delayed.

    There are still none of the platforms needed for Chinese investors to use yuans to buy specially issued government bonds on the Russian market, Russian Deputy Finance …

  • The US accuses two Russian ports of violating sanctions against North Korea

    The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury stated that they suspect two Russian ports in Vladivostok and Nakhodka of violating the sanctions regime established by the UN Security Council against North Korea.

    According to the U.S. Treasury, vessels that participated in the transshipment of oil and coal to North Korean tankers visited Vladivostok and Nakhodka ports.

    In addition to the two Russian ports, this scheme also involved four ports in China, four in …