Latest Updates

YUGOSLAVIA 30 YEARS ON: Historical conflicts hold region’s EU future to ransom

North Macedonia not expected to get green light for start of accession negotiations at this week’s EU Council meeting, while Bosnia and Kosovo have yet to achieve candidate status.

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Central European monetary policymakers set to raise rates this week

Hungarian and Czech central banks could be first in EU to raise rates despite ongoing pandemic.

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Pashinyan scores stunning victory in Armenian election

Armenia's Nikol Pashinyan set to return to full office after trouncing his rival in the country's general election despite projections it would be close-run.

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Putin unveils a new pre-election spending boost

Russian President Vladimir Putin hopes to give the flagging support for the ruling United Russia party a pre-election boost by unveiling another big spending package on the social sphere and infrastructure ahead of the September 19 Duma elections.

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EU reaches deal on sectoral Belarus economic sanctions

The European Union has agreed on a broad package of sanctions on Belarus that target the latter's key sectors, including sanctions on the financial sector, and overcoming objections from Austria.

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Confusion over the Biden administration's commitment to military support for Ukraine

There is a confusion over the commitment of the Biden administration to military support for Ukraine after reports appeared over the weekend that a $100mn military aid package that includes lethal weapons had been suspended.

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Armenia: June 20 election preview

Armenia's closely contested June 20 election portends a slight Pashinian advantage, but too close to call

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ECFR: Biden meets Putin: America, Russia, and the return of diplomacy

Joe Biden is the fifth American president to hold a bilateral summit with Vladimir Putin. But he is likely the first post-Cold War US president to have a realistic understanding of what Russia is and what it wants.

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Austria blocking EU sanctions on Belarus banks to protect its business interests

Austria has blocked proposed sanctions on bank loans to Belarus to protect a branch of Raiffeisen International that has been operating in Minsk for years.

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Gazprom confesses to several big methane leaks this year

OSCE election observers praise free and fair conduct of Armenian election

Ukraine imposes sanctions against oligarch Dmitry Firtash for trading titanium with Russia

Gazprom confesses to several big methane leaks this year

Russia’s gas giant Gazprom has admitted to several large methane leaks this year, one of the most environmentally harmful gases, the company said over the weekend.

OSCE election observers praise free and fair conduct of Armenian election

Observation comes with main opposition alliance refusing to concede what official results show was a crushing defeat.

Ukraine imposes sanctions against oligarch Dmitry Firtash for trading titanium with Russia

The government in Ukraine has imposed sanctions on oligarch Dmytro Firtash for selling titanium to Russian defence sector enterprises at a time when Ukraine was de facto at war with its north-eastern neighbour.

News

Turkey to import wheat and animal feed barley amid substantial price gains and drought

USDA cuts 2021/22 Turkish barley and wheat production estimates.

No sign election of Raisi as Iran’s president will derail efforts to restore nuclear deal

Now that they have presidency in the bag, hardliners may tolerate agreement with US that would give country sorely needed economic lift.

Montenegro’s ruling coalition in question after justice minister sacked over genocide denial

PM Zdravko Krivokapic faced strong opposition from some ruling coalition members when he decided to remove Vladimir Leposavic from the justice ministry.

Raisi to be Iran's next president

Hardline cleric moves into unassailable lead in vote count.

Russian stocks Geneva summit rally comes to an end after 36 weeks of straight inflows

A pre-Geneva summit rally saw a record 36 weeks straight of inflows that came to an end on June 17.

Turkey to import wheat and animal feed barley amid substantial price gains and drought

13 hours ago

No sign election of Raisi as Iran’s president will derail efforts to restore nuclear deal

2 days ago

Montenegro’s ruling coalition in question after justice minister sacked over genocide denial

2 days ago

Raisi to be Iran's next president

3 days ago

Russian stocks Geneva summit rally comes to an end after 36 weeks of straight inflows

3 days ago

More News

Tech

Otto Group’s myToys shuts downs in Russia after 10 years of activity

myToys, an online retailer of children’s goods owned by Otto Group, ceased its activity earlier this month in Russia after more than 10 years of operations.

VTB Capital invests $75mn in Russian car-sharing major Delimobil

VTB Capital, a division of the state bank VTB, is in the process of acquiring a 15% stake in the Delimobil car-sharing service.

BestDoctor.ru attracts $26mn from major Russian, Austrian and Swedish investors

In late May Russian insuretech leader BestDoctor closed a $26mn round with an impressive investor consortium. The money was brought in by Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin.

Tinkoff offers virtual phone secretary to all Russian mobile phone users

In early June Tinkoff, the Russian digital banking giant, announced the beta version of its free voice assistant ‘Oleg,’ making it available to all mobile users in Russia.

Russian travel segment is recovering fast from the pandemic

According to Aviasales.ru, Russian travellers booked 15% more tickets through its air ticket online booking platform than in the pre-COVID year of 2019.

Otto Group’s myToys shuts downs in Russia after 10 years of activity

13 hours ago

VTB Capital invests $75mn in Russian car-sharing major Delimobil

13 hours ago

BestDoctor.ru attracts $26mn from major Russian, Austrian and Swedish investors

1 day ago

Tinkoff offers virtual phone secretary to all Russian mobile phone users

1 day ago

Russian travel segment is recovering fast from the pandemic

1 day ago

More Tech

Opinion

RIMMER: Unhappy anniversary: Operation Barbarossa

It's the anniversary of Operation Barbarossa on June 22, when Hitler launched his surprise invasion of the Soviet Union, completely catching Stalin unawares. The ultimate victory over the Nazis has become a centre-piece of Putin's Russia.

THE VIEW FROM MITTELEUROPA: Surviving on life support – Belarus, sanctions and path-dependency

The Ryanair incident on 23 May was as much a bellwether for the status quo in Belarus as it is a geopolitical catalyst.

COMMENT: Time to end Putin's impunity

The price faced by Russia for aggression must be too high for the Kremlin to countenance, and this is the message that Biden should deliver to Putin – and act upon.

COMMENT: CEE national recovery and resilience plans – the focus, the gaps and what comes next

Most CEE governments submitted their national plans after the deadline and two (Bulgaria and Estonia) are yet to finalise them.

MOSCOW BLOG: Primary rehearsal

The governing United Russia Party held its “primaries” in the last week of May. The votes were tallied and a party congress will, on June 19, approve a list of candidates for the September Duma elections.

RIMMER: Unhappy anniversary: Operation Barbarossa

6 days ago

THE VIEW FROM MITTELEUROPA: Surviving on life support – Belarus, sanctions and path-dependency

7 days ago

COMMENT: Time to end Putin's impunity

11 days ago

COMMENT: CEE national recovery and resilience plans – the focus, the gaps and what comes next

11 days ago

MOSCOW BLOG: Primary rehearsal

15 days ago

More Opinion

Data

Moldova’s industrial production back to pre-crisis level

The full industrial recovery was partly due to the outstanding advance of the utilities sector.

IMF says Kosovo’s GDP growth depends on vaccine rollout and diaspora travel

IMF expects growth in 5-6% range in 2021, but warns growth prospects are "uncertain".

Moldova’s trade gap widens again

In volume terms, exports shrank by 12.3% y/y while imports increased by 7.1% y/y in Q1 2021.

Turkey hits hold on rates while markets anticipate ‘Erdogan easing’ will start in July

Economist, backing contention country’s official inflation rate is “phony”, calculates real key interest rate in Turkey is minus 13% and advises “lira is TOAST.”

Ukraine’s NBU unexpectedly keeps rates on hold, defying market expectations of a 100bp hike as inflation soars

The National Bank of Ukraine (NBU) defied market expectations for a 100bp rate hike by keeping its prime lending rate on hold at 7.5% during its monetary policy meeting on June 17, despite inflation topping 9.5% in May.

Moldova’s industrial production back to pre-crisis level

21 hours ago

IMF says Kosovo’s GDP growth depends on vaccine rollout and diaspora travel

1 day ago

Moldova’s trade gap widens again

3 days ago

Turkey hits hold on rates while markets anticipate ‘Erdogan easing’ will start in July

4 days ago

Ukraine’s NBU unexpectedly keeps rates on hold, defying market expectations of a 100bp hike as inflation soars

4 days ago

More Data

Features

Armenia's Pashinyan wins re-election in landslide

The elections were a unique event in post-Soviet Armenian history, as the results were not a foregone conclusion. The incumbent won an unexpectedly large mandate to stay in power.

Armenia's Pashinyan holds last major pre-election rally

Politician made PM after bloodless street revolution urges voters to deliver a “steel revolution”. Defeat could mean him facing inquiry over his handling of last year’s war with Azerbaijan.

Late analysis suggests Pashinian to triumph in Armenia's June 20 election

Main rival Kocharyan’s support has risen on his aggressive approach to national security, but as an “old regime” figure he struggles with a high unpopularity rating.

The Russian equity market rallies on fading geopolitical tensions and recovering economies

US President Joe Biden and Russian President Vladimir Putin meet today in a palace on the shores of Lake Geneva to try to find some common ground and stabilise fraught relations between US and Russia.

Turkish firms benefit from Azerbaijan’s victory

Following the victory over Armenia, Azerbaijan has thanked Turkey by awarding several multimillion-dollar contracts to companies close to the Turkish president.

Armenia's Pashinyan wins re-election in landslide

4 hours ago

Armenia's Pashinyan holds last major pre-election rally

3 days ago

Late analysis suggests Pashinian to triumph in Armenia's June 20 election

3 days ago

The Russian equity market rallies on fading geopolitical tensions and recovering economies

5 days ago

Turkish firms benefit from Azerbaijan’s victory

6 days ago

More Features

Blogs

CENTRAL ASIA BLOG: If Inandi kidnapping is confirmed, Turkey’s Khashoggi protestations will ring hollow

In Washington Post article, Erdogan critic and basketball star Enes Kanter raises alarm over educator apparently grabbed by Turkish agents in Kyrgyzstan.

ISTANBUL BLOG: Turkey’s “sea snot” crisis forces closure of coastal fertiliser plant

As government claims it has sprung into action with a disaster management plan, scientist says: “The Sea of Marmara died in 1989. What we see is the decay of a corpse.”

ISTANBUL BLOG: Recep Tayyip Erdogan, Kabul airport subcontractor

Turkey’s despot, mired in chronic economic and political difficulties at home, turned up at the Nato summit to settle for a transactional relationship with America. Joe Biden gave him a job.

TEHRAN BLOG: On election eve Iranians ask if regime has unwittingly engineered its own demise

Faced by vetted slate of candidates excluding top moderates, reform camp split by “Don’t vote” and “Vote for outsider” arguments.

MOSCOW BLOG: Biden and Putin meet in Geneva to low expectations but soaring Russian stock market

The big day is here and the wires are awash with big takes on Russia. From my perch it's fun to watch, as there is little to report on, so everyone is working their relative narratives and busy “reading” Putin, telling you what he really thinks.

CENTRAL ASIA BLOG: If Inandi kidnapping is confirmed, Turkey’s Khashoggi protestations will ring hollow

4 days ago

ISTANBUL BLOG: Turkey’s “sea snot” crisis forces closure of coastal fertiliser plant

4 days ago

ISTANBUL BLOG: Recep Tayyip Erdogan, Kabul airport subcontractor

5 days ago

TEHRAN BLOG: On election eve Iranians ask if regime has unwittingly engineered its own demise

5 days ago

MOSCOW BLOG: Biden and Putin meet in Geneva to low expectations but soaring Russian stock market

5 days ago

More Blogs

bneGREEN

Erste Group arranges €51mn financing for first private wind project in North Macedonia

North Macedonia aims to increase its national renewables capacity to above 50% by 2024.

ING: So what is a greenium and how do we get to it?

The existence of a "greenium" is mostly justified by higher demand for green bonds. We estimate the greenium for each curve separately, ensuring it is not polluted by other factors such as sector or maturity.

Russian internet major Yandex outlines ESG goals

Among Yandex's ESG priorities are reducing its carbon footprint, mainly from data centres and fuel use.

Central bank says 50% of Romanian bank loans bear climate change risk

Central bank official warns over banks' climate risk, saying 25.4% of non-government credits finance polluting businesses.

bneGREEN: IEA calls for $1 trillion of annual investment into clean energy in developing economies

Private finance is crucial if emerging economies are not to be left behind in the race to net zero, the IEA warns.

Erste Group arranges €51mn financing for first private wind project in North Macedonia

1 day ago

ING: So what is a greenium and how do we get to it?

10 days ago

Russian internet major Yandex outlines ESG goals

10 days ago

Central bank says 50% of Romanian bank loans bear climate change risk

11 days ago

bneGREEN: IEA calls for $1 trillion of annual investment into clean energy in developing economies

12 days ago

More bneGREEN

Latest Updates

News

USDA cuts 2021/22 Turkish barley and wheat production estimates.

Now that they have presidency in the bag, hardliners may tolerate agreement with US that would give country sorely needed economic lift.

PM Zdravko Krivokapic faced strong opposition from some ruling coalition members when he decided to remove Vladimir Leposavic from the justice ministry.

Hardline cleric moves into unassailable lead in vote count.

A pre-Geneva summit rally saw a record 36 weeks straight of inflows that came to an end on June 17.

Tech

myToys, an online retailer of children’s goods owned by Otto Group, ceased its activity earlier this month in Russia after more than 10 years of operations.

VTB Capital, a division of the state bank VTB, is in the process of acquiring a 15% stake in the Delimobil car-sharing service.

In late May Russian insuretech leader BestDoctor closed a $26mn round with an impressive investor consortium. The money was brought in by Winter Capital, a Moscow-based international fund backed, in particular, by billionaire Vladimir Potanin.

In early June Tinkoff, the Russian digital banking giant, announced the beta version of its free voice assistant ‘Oleg,’ making it available to all mobile users in Russia.

According to Aviasales.ru, Russian travellers booked 15% more tickets through its air ticket online booking platform than in the pre-COVID year of 2019.

Opinion

It's the anniversary of Operation Barbarossa on June 22, when Hitler launched his surprise invasion of the Soviet Union, completely catching Stalin unawares. The ultimate victory over the Nazis has become a centre-piece of Putin's Russia.

The Ryanair incident on 23 May was as much a bellwether for the status quo in Belarus as it is a geopolitical catalyst.

The price faced by Russia for aggression must be too high for the Kremlin to countenance, and this is the message that Biden should deliver to Putin – and act upon.

Most CEE governments submitted their national plans after the deadline and two (Bulgaria and Estonia) are yet to finalise them.

The governing United Russia Party held its “primaries” in the last week of May. The votes were tallied and a party congress will, on June 19, approve a list of candidates for the September Duma elections.

Data

The full industrial recovery was partly due to the outstanding advance of the utilities sector.

IMF expects growth in 5-6% range in 2021, but warns growth prospects are "uncertain".

In volume terms, exports shrank by 12.3% y/y while imports increased by 7.1% y/y in Q1 2021.

Economist, backing contention country’s official inflation rate is “phony”, calculates real key interest rate in Turkey is minus 13% and advises “lira is TOAST.”

The National Bank of Ukraine (NBU) defied market expectations for a 100bp rate hike by keeping its prime lending rate on hold at 7.5% during its monetary policy meeting on June 17, despite inflation topping 9.5% in May.

Features

The elections were a unique event in post-Soviet Armenian history, as the results were not a foregone conclusion. The incumbent won an unexpectedly large mandate to stay in power.

Politician made PM after bloodless street revolution urges voters to deliver a “steel revolution”. Defeat could mean him facing inquiry over his handling of last year’s war with Azerbaijan.

Main rival Kocharyan’s support has risen on his aggressive approach to national security, but as an “old regime” figure he struggles with a high unpopularity rating.

US President Joe Biden and Russian President Vladimir Putin meet today in a palace on the shores of Lake Geneva to try to find some common ground and stabilise fraught relations between US and Russia.

Following the victory over Armenia, Azerbaijan has thanked Turkey by awarding several multimillion-dollar contracts to companies close to the Turkish president.

Blogs

In Washington Post article, Erdogan critic and basketball star Enes Kanter raises alarm over educator apparently grabbed by Turkish agents in Kyrgyzstan.

As government claims it has sprung into action with a disaster management plan, scientist says: “The Sea of Marmara died in 1989. What we see is the decay of a corpse.”

Turkey’s despot, mired in chronic economic and political difficulties at home, turned up at the Nato summit to settle for a transactional relationship with America. Joe Biden gave him a job.

Faced by vetted slate of candidates excluding top moderates, reform camp split by “Don’t vote” and “Vote for outsider” arguments.

The big day is here and the wires are awash with big takes on Russia. From my perch it's fun to watch, as there is little to report on, so everyone is working their relative narratives and busy “reading” Putin, telling you what he really thinks.

bneGREEN

North Macedonia aims to increase its national renewables capacity to above 50% by 2024.

The existence of a "greenium" is mostly justified by higher demand for green bonds. We estimate the greenium for each curve separately, ensuring it is not polluted by other factors such as sector or maturity.

Among Yandex's ESG priorities are reducing its carbon footprint, mainly from data centres and fuel use.

Central bank official warns over banks' climate risk, saying 25.4% of non-government credits finance polluting businesses.

Private finance is crucial if emerging economies are not to be left behind in the race to net zero, the IEA warns.

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