Kremlin insider Oleg Deripaska has agreed to sell some of his shares in Rusal and lower his stake to under 50% in the hopes that the US Treasury Department will remove some of its sanctions.
When King Pyrrhus of Epirus stood on the Italian coast surveying the battlefield of Asculum where he had just defeated the Roman army in 279BC he famously said: “If I have another victory like that I will go home alone."
Latest round of US sanctions and the following volatility have paused the monetary easing cycle as the board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 7.25% on April 27.
Russian largest carmaker Avtovaz posted IFRS net profit of RUB609mn ($10mn) in the first quarter of 2018, reversing the RUB2.8bn loss for the same quarter of 2017 and posting the first net quarterly net profit since 2012.
The Central Bank of Russia (CBR) is expected to take a pause at its monetary easing cycle on the upcoming board meeting on April 27.
Russian assets are toxic nuclear waste again after the US Treasury Department released a new set of targeted sanctions aimed at some of Russia’s biggest businessmen and their companies, and unleashed chaos on the markets.
Russia’s export of grain may double this year to to 52mn tonnes of grain in the 2018 agricultural season, chief executive of the Institute for Agricultural Market Studies (IKAR) Dmitry Rylko said.
I have been asked by a number of people over the last few days about the effect of recent events on property valuations in the Russian market. There are a number of potential drivers of change of property valuations on the Russian market now.
Russia has invested more in hosting the World Cup this summer than ever before, but is hoping the event will add 1% to GDP growth and have long lasting economic benefits on the 11 regions where games are being played.
The most recent bout of US sanctions on Russia have clearly had an effect. But are they effective? The answer to that depends on the intended impact, and that is harder to assess.
Russia’s real estate market is coming back to life on the back of the ongoing economic recovery, and with few new buildings coming on the market prices are being pushed up and vacancy rates driven down.
G7 foreign ministers promised unity in the face of Russian aggression but in an irony that highlights the changing balance of power went on to call on Moscow to help resolve the conflict in Syria.
When Russia hooked its capital markets into the global financial system in 2012 it caused a revolution. Billions of dollars poured into the local government bond market. Now Kazakhstan and Ukraine want to join the party.