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In relief to Russian pipelines US sanctions not to apply retroactively

Question: Is the sanctions targetting both gas and oil pipelines?

Answers: Thank you for your question. In accordance with the latest US State Department guidance, "the focus of implementation would be on energy export pipelines that (1) originate in the Russian Federation, and (2) transport hydrocarbons across an international land or maritime border for delivery to another country." [] We would assume hydrocarbon includes both oil and gas, but a deeper dive into the wording of the Sections 232 and 231 of the Countering America’s Adversaries Through Sanctions Act (CAATSA) would be required to definitely answer your question. Best regards, bne IntelliNews team

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Hungary and Slovakia sign memorandum on Eastring Gas Pipeline

October 31, 2017

Hungarian Foreign Minister Peter Szijjarto and Slovak Economy Minister Peter Ziga signed a statement of intent to build the Hungarian-Slovak stretch of a North-South gas pipeline Eastring in Kosice ...

Licence of bankrupt VIM-Avia airline suspended

October 30, 2017

The licenсe of the bankrupt Russian airline VIM-Avia has been suspended, Minister of Transport Maxim Sokolov was quoted as saying by Interfax on October 30. Under Russian law, the ...

Iran's NIOC signs deal with Oslo's IFLNG for barge-based LNG production

October 30, 2017

National Iranian Oil Company says it has signed a deal with Oslo-based IFLNG for the barge-based production of liquefied natural gas (LNG) in Iran, LNG World News reported on October 27. According ...

Rising profitability at Czech automaker Skoda pushes up its VW group revenue share

October 30, 2017

Largest Czech automaker Skoda Auto said on October 30 that it saw operating profit grow 28.2% y/y to €1.21bn in the first three quarters of this year. Sales revenue was up 22.0% y/y to €12.34bn, ...

Bulgaria’s health minister resigns over allegations of abuse of office

October 30, 2017

Bulgaria’s Health Minister Nikolay Petrov resigned on October 30 after media allegations that he abused his office while heading the country’s ...

Owners of collapsed lender Binbank transfer assets worth RUB70bn to CBR

October 30, 2017

Owners of the collapsed lender Binbank are transferring assets worth around RUB70bn ($1.2bn) to the Central Bank of Russia (CBR), partly to cover a hole in the bank's finances, Vedomosti ...

Ukraine seeks to secure gas compromise with IMF to avoid price rises

October 30, 2017

Ukraine will resolve the gas price formula issue with the International Monetary Fund (IMF) within the next two weeks, the country's Finance Minister Oleksandr Danylyuk told reporters at a ...

Ukraine president and US envoy discuss withdrawal of Russian forces from Ukraine's Donbas

October 30, 2017

The withdrawl of Russian forces in the Ukraine's rebel-controlled Donbas region was discussed at a meeting between Ukrainian President Petro Poroshenko and the US special representative to Ukraine ...

ADB to allocate $5bn for Central Asia Regional Economic Cooperation 2030 programme

October 30, 2017

Central Asia Regional Economic Cooperation (CAREC) ministers from 11 member countries on October 27 unanimously endorsed CAREC 2030, a new Asian Development Bank-supported ...

Russian oil firm Rosneft alleged to have poured money into CBOM Bank

October 29, 2017

Russian oil major Rosneft is one of the main investors in Credit Bank of Moscow (CBOM), according to a report by Russian daily Vedomosti. ...

Polish billionaire seeks full control and delisting of chemical corp Synthos

October 29, 2017

Polish billionaire investor Michal Solowow announced a tender offer for all shares of chemical company Synthos that he does not control, FTF Galleon, Synthos’ major shareholder, said late on ...

Citizens to get "same information as MPs" as Albania launches new e-governance app

October 29, 2017

Albanian Prime Minister Edi Rama presented a new online platform for co-governance with citizens entitled “Albania We Want” on October 28. Ensuring functional and responsible ...

Hungary has lots of catching up to do, central bank's competitiveness report shows

October 28, 2017

Hungary's central bank, the Magyar Nemzeti Bank (MNB), released its Competitiveness Report on October 27, providing a comprehensive and objective picture of Hungary’s competitiveness ...

Council of Europe warns Azerbaijan of legal proceedings over jailed opposition figure

October 27, 2017

The Council of Europe, the European human rights organisation, has notified the government of Azerbaijan of its intention to launch "unprecedented" legal proceedings against the country for ignoring ...

Danish investment agency pulls $62mn funding from Armenian copper mine on environmental grounds

October 27, 2017

PensionDanmark, a Danish investment agency, has decided to withdraw a $62mn investment in Armenia's second largest copper mine because its owner failed to comply with environmental standards, the ...

Ukraine's central bank expects new IMF tranche in first quarter of 2018

October 27, 2017

Ukraine expects to get a new loan tranche from the International Monetary Fund (IMF)'s $17.5bn support package in the first quarter of 2018, the National Bank of Ukraine (NBU) said in a ...

Bulgarian populist politician Mareshki to seek referendum on presidential republic

October 27, 2017

The leader of Bulgaria’s populist party Volya Vesselin Mareshki said that will initiate procedure for holding ...

Bulgarian MPs draft changes to bank insolvency law aiming to reveal robbers of Corpbank

October 26, 2017

Controversial Bulgarian businessman and MP Delyan Peevski and two other MPs tabled draft amendments to the banks insolvency law to the parliament on October 26, claiming that if adopted ...

Failing lenders rescued by Russia's central bank cost RUB458.3bn

October 26, 2017

Ailing Russian lenders that are being rescued by the Central Bank of Russia (CBR) through its Banking Sector Consolidation Fund (BSCF), lost nearly RUB458.3bn in July-September, the CBR announced on ...

Labour productivity exceeds growth of labour costs in Estonia in H1

October 26, 2017

Labour productivity increased faster than the growth of labour costs in the Estonian business sector in the first half of the year, Eesti Pank (The Bank of Estonia) announced on October 25. ...