World hit by interest rate and inflation shock says IIF

Ben Aris in Berlin June 20, 2022

The world’s economy is being hit by an inflation and interest rate shock that shows no sign of abating, Institute of International Finance (IIF) said in a recent paper.

Putin praises Bosnia’s Dodik for loyalty to Russia

bne IntelliNews June 19, 2022

Bosnian Serb leader travels to St Petersburg for SPIEF 2022 forum after blocking Bosnian efforts to impose sanctions on Russia.

Putin lashes out at the West during his SPIEF keynote and prepares Russians for a long fight

Ben Aris in Berlin June 18, 2022

Putin lashed out at the West during his keynote speech at St Petersburg International Economic Forum (SPIEF) on June 17, claiming that it was using Russia as a scapegoat to excuse its failure to control inflation.

FBK accuses Putin and Miller of using Gazprom as “bottomless purse” in latest scandal report

bne IntelIiNews June 18, 2022

A report by Navalny's Anti-Corruption Foundation claims Gazprom CEO Alexey Miller has allegedly embezzled from Russia's gas giant to fund a network of properties and offshores. Putin's inner circle is also accused of profiting from the theft.

Ukrainians expect conflict to intensify – RIWI

Theo Normanton June 17, 2022

Fresh data show that Ukrainians expect the fighting to intensify in the coming weeks. Russian internet users also expect the conflict to worsen, although they don't expect the escalation to be as intense as their Ukrainian peers.

EU keeps market guessing with designation of Arkady Volozh

Theo Normanton June 17, 2022

The EU's sanctions against Yandex co-founder Arkady Volozh have ruffled some feathers in Russia's business community and abroad. Yandex's international reach and shareholder base and Volozh's distance from the Kremlin make him an unlikely target.

As Russian economy sputters, UK lures Central Asian labour migrants

Joanna Lillis for Eurasianet June 17, 2022

More than 7,000 Kyrgyz nationals applied for seasonal farming jobs in Britain

ASH: Welcome to the new age of inflation

Timothy Ash Senior Sovereign Strategist at BlueBay Asset Management in London June 17, 2022

The debate around inflation is centre-stage at present, with headline and PPI inflation soaring globally in response to a range of factors but including climate change/transition and Covid-related supply disruptions.

The Belarusian security threat – Part II

bne IntelliNews June 17, 2022

Since 2020, the Minsk regime has gradually made Belarus into a pariah state and the regime’s previous attempts to position itself as a regional security guarantor have been and are continuously being undone.

Europe's gas storage tanks already half full, but will it be enough?

Ben Aris in Berlin June 17, 2022

Gazprom cuts supplies of gas as Europe races to fill its storage tanks. These crossed the halfway mark on June 7 and are now 51.12% full, as the EU seeks to replenish its supplies ahead of the coming winter.

All bang and no buck at Russia's SPIEF22

bne IntelIiNews June 17, 2022

Russia's premier investment event normally attracts thousands of business people from across Europe to hobnob with the Russian elite, but this year a mere 115 Western companies chose to take part.

High-ranking politicians from Serbia and Bosnia attend ‘Russia’s Davos’ shunned by West

bne IntelliNews June 17, 2022

While most European leaders stayed away from the SPIEF 2022 forum after Russia’s invasion of Ukraine, Bosnian President Milorad Dodik was there and made a rousing defence of Putin.

Turkey’s despair rating score is worse than war-torn Ukraine’s

bne IntelliNews June 16, 2022

Turkey is in a full-blown crisis and has an extremely high despair index of 93.8, even worse than that of sanction-embattled Russia’s 42.5. And if you don't believe the official Turkish statistics, Turkey's score is also even worse than Ukraine's.

Tokayev tells Russian TV Kazakhstan won’t break Western sanctions

Peter Baunov in Almaty June 16, 2022

Also says some people in Russia “misrepresent whole situation” by claiming that during January unrest Moscow “saved” Kazakhstan with troop dispatch and now country must for ever “bow at feet” of Kremlin.

The Belarusian security threat – Part I

bne IntelliNews June 16, 2022

While Ukraine isn’t afraid of an outright invasion by Belarusian troops, it still thinks that Belarus remains a military threat, and Minsk still has the potential to pose a long-term security threat to Europe in the years ahead.

Ukraine’s budget is underfunded and in need of Western help

Ben Aris in Berlin June 16, 2022

Wars are very expensive and very hard to finance. Ukraine has been thrown into a conflict with a much larger and better funded adversary and it is struggling to raise enough money to continue its heroic resistance against the Russian invader.

‘Election mode’ Erdogan ain’t for budging over Finland and Sweden’s Nato applications

bne IntelIiNews June 16, 2022

Turkish leader is staring down the barrel of tough national polls on horizon. Playing nationalist hardball will keep some of his remaining voters happy.

Calls growing for a price cap on Russian oil exports

Ben Aris in Berlin June 15, 2022

Europe has been wrestling to get its members to sign up to a full ban on Russian oil products but a ban could send the price of oil up and make Russia even more money. Better to cap prices and starve the Kremlin of revenues.

Russia announces it will slash gas flow via Nord Stream 1 by 60%

bne IntelliNews June 15, 2022

Russia’s Gazprom has announced it is slashing gas flow via the Nord Stream 1 pipeline by 60%, blaming Siemens’ failure to repair compressor units on time and other technical problems at the Portovaya compressor station.

IKEA to sell off Russian inventory and plants

bne IntelliNews June 15, 2022

Swedish furniture major IKEA will scale down its business in Russia, lay off some employees, sell off inventory, and will start looking for buyers for its four Russian plants.