Biden and Merkel fail to find common ground over Nord Stream 2 pipeline at Washington summit

bne IntelliNews July 16, 2021

US President Joe Biden and German Chancellor Angela Merkel have failed to find a common position on the issue of the Nord Stream 2 gas pipeline that will allow Russia to bypass Ukraine during a meeting of the two leaders on July 15.

bneGREEN: EU carbon guidelines offer relief to Russian exporters

bne IntelliNews July 16, 2021

The European Commission has revealed new proposals concerning its Carbon Border Adjustment Mechanism (CBAM), which would regulate carbon certificates for importers to the union.

DATACRUNCH: demographic disaster in Russia, but a catastrophe in Ukraine

Ben Aris in Berlin July 15, 2021

Russia is facing two decades of stagnation thanks to its shrinking population caused by the collapse of the Soviet Union. But in Ukraine the problem is far worse, as the population has shrunk to levels last seen in the '50s.

LONG READ: Putin’s babies

Ben Aris in Berlin July 14, 2021

Russia’s economy is expected to stagnate for the next two decades because the population is now shrinking. President Putin made fixing the demographic problem a core goal and big successes have been scored, but the problem is too big to fix.

INTERVIEW: Europlan, the pioneer of Russia’s car leasing business

Ben Aris in Berlin July 13, 2021

Why buy a car when you can lease one? The option of leasing vehicles is perfect for Russia’s fast growing economy. Europlan has been on the market for two decades and pioneered leasing in Russia.

Lukashenko pays surprise visit to Putin in St Petersburg

bne IntelliNews July 13, 2021

Belarus' President Alexander Lukashenko paid a surprise and unscheduled visit to Russian President Vladimir Putin in St Petersburg on July 13, almost certainly to ask for more money.

bneGREEN: BlackRock raises $250mn to fund climate transition in emerging markets

Richard Lockhart in Edinburgh July 13, 2021

BlackRock has raised $250mn from a consortium of ten institutional investors, governments and charities for its flagship blended finance fund, which aims to help emerging market economies reduce carbon emissions.

John Kerry in Moscow to start climate change co-operation, Putin writes essay on Russia and Ukraine

bne IntelliNews July 13, 2021

All on one day, US Special Presidential Envoy for Climate John Kerry was in Moscow to meet with Russian Foreign Minister Sergei Lavrov, President Vladimir Putin penned an essay on Ukraine and Ukrainian President Volodymyr Zelenskiy met Angela Merkel.

bneGREEN: EU carbon pricing set for radical reforms

Richard Lockhart in Edinburgh July 13, 2021

The European Commission is to publish legislation on July 14 that will detail the EU’s plans, dubbed “Fit for 55,” to reduce greenhouse gas emissions by 55% from 1990 levels by 2030 as part of wider reforms to European energy and climate laws.

STOLYPIN: Putin’s cybercrime challenge

Mark Galeotti director of the consultancy Mayak Intelligence and also an honorary professor at UCL School of Slavonic & East European Studies July 12, 2021

Following recent cases of Russian-linked cyberespionage and ransomware attacks. President Biden has cranked up the pressure on Vladimir Putin to act.

Biden warns Russia will faces consequences if it doesn't crack down on ransomware attacks

Ben Aris in Berlin July 12, 2021

Joe Biden warned Vladimir Putin that Russia would face consequences if it failed to crack down on ransomware cyber-gangs operating out of Russia that are targeting businesses worldwide during a phone call on July 9.

Russia’s Economic Ministry upgrades 2021 growth forecast to 3.8% as the economy continues a strong bounce back

bne IntelliNews July 12, 2021

Russia’s Economic Development Ministry has upgraded its growth forecast for this year to 3.8% from 2.8%, the ministry said on July 9.

Kremlin holds Afghan peace talks with Taliban in Moscow

Ben Aris in Berlin July 12, 2021

The delegation of top fighters turned up saying the Taliban already controls most of Afghanistan.

Russia’s Watcom shopping index catching up with 2019 in July

bne IntelliNews July 9, 2021

Russia’s Watcom shopping index that measures foot traffic in the capital’s leading malls continues to close the gap on the pre-crisis 2019 levels but is still running at least 10% behind that level, according to Watcom’s latest numbers.

bneGREEN: CEE surfs the green bond wave

Robert Anderson, and bne IntelliNews reporters July 9, 2021

Issuance has been impressive but in some countries green bonds are still to get off the ground, while in others there is a shortage of high-yield, local currency or 'dark green' issues.

ING: Russian inflation hits 6.5%, and can go higher

Dmitry Dolgin chief economist Russia at ING in Moscow July 8, 2021

Russian CPI jumped to 6.5% y/y in June and kept accelerating in the first week of July. While supply-side inflation seems to have stabilised, demand-driven CPI stands out in pharma, construction materials, and tourism sectors.

Russia's inflation up to record 6.5% in June

bne IntelliNews July 8, 2021

Russia's inflation defies the CBR's efforts to control it and breaks upwards again to a new recent high of 6.5% y/y in June.

EU expected to launch WTO case against Russian Champagne labelling decision

Iana Dreyer editor of Borderlex July 8, 2021

The European Commission is considering launching a case in the WTO following Russia’s recent decision to authorise the label ‘Champagne’ only for Russian-produced sparkling wines.

Glorious story but modest exit for online fashion pioneer KupiVIP

Adrien Henni in Moscow for East West Digital News July 8, 2021

Yandex.Market is in the process of acquiring KupiVIP, one of the most established e-commerce brands in Russia, founded back in 2008 by German entrepreneur Oskar Hartmann.

Russia faces a stagnant decade of 1.5% GDP growth after the coronacrisis

Ben Aris in Berlin July 8, 2021

Iikka Korhonen, chief economist at Bank of Finland Institute for Economies in Transition, has released a paper looking at Russia’s long-term growth potential and the outlook is bad.