Contents tagged with Sanctions on Russia

  • Kremlin: US trying to influence situation in Russia before Presidential elections by imposing new sanctions

    Introduction of new sanctions of the United States against some Russian citizens is an attempt to influence situation in the Russian Federation ahead of the presidential election, Deputy Interior Minister of Russia Sergei Ryabkov said in an interview with TASS news agency, adding that Moscow expected two reports about the sanctions to be released by the U.S. Presidential Administration in late January.

    “We approach this philosophically and see it, first of all, as another attempt to influence …

  • Russian billionaires quickly dispose of their assets as US prepares new sanctions

    The US administration will soon announce the introduction of a new package of sanctions against Russia, said the head of the US Treasury, Steven Mnuchin, at a briefing.

    According to the Countering America's Adversaries Through Sanctions Act signed by Donald Trump in August, the department must submit to Congress a report on Russian officials and businessmen who should be included in the sanctions list including asset freezing and a ban on issuing visas.

    The expanded list will include more …

  • Siemens signs new contract with Russian company that previously delivered its turbines to Crimea

    A subsidiary of the German company Siemens confirmed a new joint venture with the Russian state corporation Rostec, who had previously deceived Siemens with the illegal supply of its gas turbines to the Crimea in violation of contract. This was reported on January 11 by the Russian state news agency TASS.

    Inna Domoratskaya, the Press Secretary of the Russian company Siemens Healthcare, a division of Siemens Healthcare GmbH, told the agency that this subsidiary of Siemens is ready to provide …

  • Secretary of U.S. Treasury says Washington working on new sanctions against Russia

    During a briefing at the White House, the Secretary of the U.S. Treasury, Steven Mnuchin, confirmed that his department is working on sanctions against “Russian oligarchs.” A video of Mnuchin’s briefing was posted on the White House’s YouTube channel.

    One of the reporters asked him how the work on the list of Russian oligarchs, which should be under American sanctions, is proceeding. “We are working on it, as we said, and it should be completed in the near future. This is something we are …

  • Moscow court denied Siemens’ claim to return gas turbines delivered to Crimea

    The Moscow Arbitration Court dismissed the claim of the Russian subsidiary of the German company Siemens against the Russian state corporation Rostec on the return of the turbines supplied for the thermal power plants (TPPs) being built in the annexed Crimea, as reported on January 10th by RIA Novosti.

    "We deny the claim," Judge Ayuna Tsidipova said.

    The plaintiff, manufacturer of turbines, Siemens Gas Turbine Technologies LLC, asked the court to recognize the contract for the supply of …

  • Berlin fines German company for importing goods to Russia in violation of sanctions

    A German company that exported dual-use equipment to Russia, was fined 190,000 euros, as reported by the German edition, Stuttgarter Nachrichten.

    According to the publication, the equipment supplied to the Russians can be used, among other things, for military purposes.

    In order to export such equipment to Russia, the firm had to obtain a special permit as required as part of EU sanctions against Moscow, but supplied the equipment without it.

    "The request for permission is usually refused if …

  • Russia creating coordination center to facilitate work of military industry under Western sanctions

    The Russian Federation has established an ad-hoc agency to “ensure sustainable development” of the industrial-defense complex and stable production of a state defense order “under the expected strengthening of unlawful sanctions by the United States,” Russian Deputy Prime Minister Dmitry Rogozin said.

    According to Rogozin, the headquarters was formed based on the Military-Industrial Commission (VPK) established in 2014 “to implement state policy in the industrial defense and to oversee the …

  • Head of Adidas urged EU to improve relations with Russia

    Adidas-Group CEO Kasper Rørsted said Europe should improve relations with Moscow. "The one who thinks that we are punishing Russia with sanctions is mistaken. In the West, jobs are also gone because of this, but politicians prefer to keep silent about such results," Rørsted said in an interview with Frankfurter Allgemeine Sonntagszeitung, published on Saturday, January 6.

    Rørsted stressed that he is not advocating for the European Union to lift sanctions against Russia. However, Rørsted …

  • Russian Alfa-Bank to stop servicing defense companies due to Western sanctions

    The first deputy chairman of the board of directors of Alfa-Bank Oleg Sysuev told Ekho Moskvy (Echo of Moscow) radio that the bank has notified the Russian defense companies that they will not be providing them with service because of Western sanctions.

    Sysuev clarified that the bank is not going to break off relations with defense companies at once. “We are trying to minimize the risks,” he explained.

    On December 29, Forbes published an interview with the founder of Alfa-Group, Mikhail …

  • Media: Russian billionaires dispose of assets ahead of US sanctions

    Russian oligarchs have begun to dispose of assets ahead of the publication of the US Finance Ministry’s report on businessmen who are close to the Kremlin and may be placed under sanctions.

    As TASS reported with reference to information from the London Stock Exchange, at the end of December a large block of shares in the Petropavlovsk gold-mining company was sold by billionaire Viktor Vekselberg, who is number 10 on the Russian Forbes list with $12.4 billion.

    The Petropavlovsk shares were …