Contents tagged with Sanctions

  • Russia to finance Nord Stream 2 if US imposes sanctions

    The construction of the Nord Stream 2 gas pipeline, which will connect Russia and Germany directly, may be financed even if Washington places sanctions on the European companies involved in the project, Nord Stream 2 CFO Paul Corcoran told Welt am Sonntag in an interview.

    “The project will definitely be financed. It is important for Gazprom, and Russia currently has a large liquidity reserve in euros,” Corcoran emphasized.

    According to the CFO, the initiative may be realized even without …

  • Russia’s Central Bank predicts sanctions and stagnation

    Over the next three years, the rate of economic growth in Russia will be half of the world average, and sanctions from western countries will persist, restricting the flow of foreign capital, without which it will be necessary to rely solely on internal resources.These were Russia’s Central Bank’s (CB) assumptions in the projection of the “Primary areas of development of the financial market” until 2020.

    No significant acceleration of the Russian economy is foreseen. The CB predicts that the …

  • Minister of Finance: EU can impose sanctions against Ukraine due to failure to sign treaty on offshore companies

    Minister of Finance Oleksandr Danyliuk warned that the European Union could introduce economic sanctions against Ukraine if the MLI or Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (Prevent Base Erosion and Profit Shifting) is not signed.

    "We must sign a multilateral convention to implement measures related to the taxation agreement before June 28. This is the so-called MLI. The relevant decision was made by the Cabinet of Ministers back in December last year, …

  • Russian State Duma passes law on reciprocal sanctions

    The lower house of the Russian parliament, in the third and final reading, passed a bill on counter sanctions. 

    In the final version of the bill, there is no mention of specific areas to which sanctions may apply. The law enables the government to ban the importation of any product or raw material, with the exception of necessary goods that are not produced in Russia.

    Additionally, restrictions cannot be applied to goods imported for personal use, both by Russians and foreigners.

    The bill …

  • German media: Putin's friend Rotenberg secretly buying real estate in Germany despite sanctions

    A joint investigation by SWR and the Berliner Zeitung has uncovered that Russian oligarch Arkady Rotenberg, who has been individually sanctioned by the EU and US, is investing in large real estate projects in Germany, DW reports.

    The authors of the investigation have specifically linked Rotenberg with the Kudamm-Karree-Hochhaus building complex in Berlin. The complex is located on Kurfürstendamm boulevard in the western center of the city, and includes a high-rise building, shopping center, …

  • Russia preparing sanctions against the USA

    The Russian Parliament adopted in first reading bills on sanctions against the USA and also on criminal liability for compliance with the sanctions against Russia, as reported by the press-service of the State Duma.

    It is reported that 412 Deputies of the Russian State Duma voted in favor of the draft bill. In addition, the MPs also adopted amendments to the Criminal Code that impose responsibility for complying with the Western sanctions in the Russian territory.

    The voting on these draft …

  • Russia considers introducing criminal liability for companies observing Western sanctions

    The Russian State Duma has drafted a bill denoting criminal liability, punishable by up to four years of imprisonment, for the implementation of sanctions by foreign states, as well as for assistance in establishing anti-Russian sanctions, in the territory of the Russian Federation, Interfax reports.

    "This draft law, which proposes changes to the Criminal Code of the Russian Federation, will be officially introduced to the State Duma on Monday morning; its authors - the speakers for both …

  • Russia to exclude American drugs from the sanctions list

    Interfax reports that the State Duma of Russia is amending the draft bill on counter sanctions to avoid prohibiting the import of drugs from the U.S. that are similar to those which exist in Russia, Ivan Melnikov, the First Deputy Chairman of the State Duma, stated.

    “It is planned to exclude from the draft bill the mention of specific industries and specific goods and services and leave only the measures that can be applied,” Melnikov said.

    In the first reading of the draft bill, it was …

  • US Treasury Department: Reduction in Deripaska’s share in his company not sufficient to exclude it from sanctions list

    "A reduction in the share of ownership [of the company] by a person under sanctions is not necessarily a basis for excluding [the company] from the sanctions list," RBC news agency reports, citing an official US Treasury Department spokesperson.  

    According to the source, OFAC (the Office for Foreign Assets Control, a subdivision of the Treasury Department) "conducts a thorough analysis of the facts and circumstances of each request for exclusion [from the sanctions list) and does not discuss …

  • Kremlin intends to support Russian companies that fell under US sanctions

    At a governmental meeting with his deputies, Russian Prime Minister Dmitry Medvedev called the new sanctions imposed by the U.S. Department of Treasury “unpleasant protectionism” against Russian companies and businessmen, The Insider news outlet reports. “Friday’s sanctions against our country are, no doubt, another manifestation of the protectionist policy only dressed up as sanctions,” Medvedev said.

    The PM stated that Russia considers the new sanctions unacceptable and unlawful, as they go …