Contents tagged with Sanctions on Russia

  • Bulgaria to seek lifting of sanctions against Russia during its Chairmanship in the EU

    Bulgaria intends to seek the lifting of sanctions against Russia during its term as chairman of the Council of the EU in 2018, as announced by the Prime Minister of Bulgaria Boyko Borisov during the opening of an office of the European Investment Bank in Sofia, news agency Ukrinform reports.

    “During our term as chairman of the EU, we must work politically and diplomatically to lift sanctions from Russia and reduce tensions between Europe and Russia. I do not know if we will be able to do this, …

  • Court hearing of Siemens turbine case to commence on October 20th in Moscow

    The Moscow Arbitration Court scheduled a preliminary meeting on October 20th to review the suit brought by the joint venture of Siemens and OJSC Power Machines – Siemens Gas Turbine Technologies LLC (SGTT) – against two Russian enterprises, the Rostec state corporation and Technopromexport JSC, as stated in the court documents. 

    The press service of Siemens in Russia has not yet commented on the content of the claim against Rostec.

    Earlier, Siemens itself filed a lawsuit against …

  • German Foreign Minister: the EU may loosen sanctions on Russia if it fulfills its obligations regarding the peacekeepers in Donbas

    The European Union can ease sanctions if the Russian proposal for the deployment of peacekeepers to the Donbas is quickly implemented, said German Foreign Minister Sigmar Gabriel, according to Der Spiegel magazine.

    "If the deployment of peacekeepers is successful and if this can be quickly implemented, then of course we should also take action and ease sanctions," Gabriel said.

    Gabriel added that it is necessary to "quickly begin negotiations in New York" about the deployment of the …

  • Nord Stream pipeline partner: American sanctions will have a major impact on the financing of the project

    New US sanctions against Moscow will impact the financing for the Nord Stream 2 pippeline project, as expressed by the President of the German-Russian Foreign Trade Chamber and the CEO of Austrian energy company, OMV Rainer Seele, DW informs.

    "It will not be possible to organize project financing involving US banks, we will have to work with Asian banks,” he stated.

    According to Seele, the assessment is being conducted to determine the consequences of the new US sanctions on the Nord Stream …

  • Siemens submitted second court claim over the shipment of its turbines to Crimea

    The joint venture of Siemens and Power Machines filed a lawsuit to the arbitration court against Rostec's subsidiary company, Technopromexport. The latter bought Siemens turbines for construction in the annexed Crimea, as reported by Meduza.

    The claim by Siemens gas turbine technology against JSC and LLC Technopromexport was filed on September 8th. Details on the claim haven’t been disclosed.

    The company Technopromexport bought four gas turbines from Siemens in 2015. It was announced that the …

  • Russian Prime Minister Medvedev bans purchase of foreign furniture for state use

    Russian Prime Minister Dmitry Medvedev has signed a decree prohibiting the purchase of imported furniture for state institutions for two years, as of December 1.

    The decree was published on the Russian government’s website.

    Manufacturers in the Eurasian Economic Union (EAEU) will be an exception.

    “The decisions were made in order to utilize the production capacity of domestic furniture and woodwork industry enterprises, in order to improve the competitiveness of Russian production,” the …

  • Journalist: Despite sanctions, Ukraine’s Antonov aircraft manufacturer continues to cooperate with Russia

    The Ukrainian state enterprise Antonov allegedly intends to continue servicing the Russian cargo transportation airline Volga-Dnepr, one of several companies that fulfill orders of the Russian Defense Ministry.

    Journalist Roman Bochkala referred to his own unnamed source when making this claim on Facebook. According to him, Antonov's employees are flying for two months to Ulyanovsk, where the headquarters of the Volga-Dnepr is located in order to extend the life of the Russian An-124 Ruslan.

    " …

  • Despite sanctions, flow of goods between Russia and Ukraine increased by 20 percent

    In the first half of 2017, the trade volume between Ukraine and Russia increased, despite the sanctions, wrote Maxim Parkhomenko in his article for ZN.UA.

    The author, referring to the Ukrainian state statistics service, indicated that the geographical structure of Ukrainian exports since last year has not undergone significant changes. Ukraine’s main trading partners are Italy, Turkey, Egypt, Poland, Russia, and India. At the same time, Russia accounts for the lion’s share of the trading …

  • Media: Despite sanctions equipment from Finland is used at the construction of the Kerch Bridge

    Equipment from Finland was discovered at the Kerch Bridge bridges is being built by Russia from the mainland to the annexed Crimea, PSB News website reports.  The site shows a video of a hydrohammer produced by a Finnish company that is used at the construction of the bridge.

    The Finnish equipment is being utilized by the Russian firm Mostootryad-125, a branch of Mostotrest, which is the largest heavy construction company in Russia. It is noted that the above mentioned equipment, a Junttan …

  • Media: US sanctions force Russia’s oil giant Lukoil to sell its distributor Litasko

    Lukoil, the largest private oil company in Russia is studying the possibility of selling Litasco, its trading unit in Switzerland, because the new package of sanctions imposed by the US against Russia will make it more difficult to attract new funding, Reuters reported referring to informed sources.

    "One of the reasons for the sale is sanctions. And the sale will also allow them to divert a large amount of working capital from trading to mining projects in Russia," a high-ranking source in the …