Contents tagged with Sanctions on Russia

  • 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 …

  • German Foreign Minister: Germany does not want to completely ruin relations with Russia

    German Foreign Minister Sigmar Gabriel urged the US to pursue a more sensible treatment of Russia, after meeting with the US Secretary of State, Rex Tillerson, in Washington on Tuesday August 28th, Deutschlandfunk reported.

    Gabriel noted that the new sanctions issued by the US Congress caused concern in Europe due to "unpredictable side effects." According to him, "we would not want to completely destroy economic relations with Russia."

    It should be noted that the German Foreign Minister has …

  • American Ambassador to Russia: US has reasons not to make public evidence of pro-Russian separatists’ involvement in the crash of MH17 flight in the Donbas

    The US has not declassified available evidence that the Malaysian Boeing from July 2014 was shot down from separatist-controlled territory in eastern Ukraine's Donetsk region, as US intelligence agencies are interested in keeping their sources of information secret, as stated in an interview with the radio station Ekho Moskvy (Echo of Moscow) by the US Ambassador to Russia, John Tefft.

    "There are sources and methods which they won't talk about. And it seems to me that any intelligence agency …

  • Media: U.S. may introduce additional sanctions against Russian banks in September

    Sources in Russian diplomatic circles expect that the U.S. may impose additional sanctions against a number of Russian state-owned banks, reported the website gazeta.ru.

    “In September, a new package of restrictions will go into effect against the highest profile banks,” said the source of gazeta.ru, which has close ties to the Russian Foreign Ministry.

    According to the information provided, this action will be directed against the Bank of Russia, Rosselkhozbank, Gazprombank and other Russian …