RenCap may face closure amidst an eleventh-hour MBO bid

Jason Corcoran in Dublin May 31, 2022

Renaissance Capital, the Moscow-based investment bank controlled by billionaire oligarch Mikhail Prokhorov, may face closure unless an eleventh-hour deal can be struck by managers to buy out the business, bne IntelliNews can reveal.

Hungary receives exemption from EU oil embargo

bne IntelliNews May 31, 2022

EU leaders have reached a compromise deal to ban Russian oil exports to the block's countries, putting maximum pressure on Russia to end its war against Ukraine, Charles Michel, President of the European Council, announced in the early hours of May 3

New ‘pattern of oppression in Turkey sees municipalities, AKP banning music concerts’

bne IntelIiNews May 30, 2022

Columnist says authoritarian move is response to “dead-end the current administration finds itself in” because of the country’s “unprecedented, multilayered crisis”.

Crowd shouts down supreme leader’s emissary as death toll from Iran building collapse climbs to 31

bne IntelIiNews May 30, 2022

Protesters reportedly attack platform where state TV set up its camera to cover what was supposed to be a solemn occasion of mourning.

Bulgaria’s ruling coalition divided over euro adoption plans

bne IntelliNews May 30, 2022

Two of the four ruling parties say they want more analysis of what euro adoption will mean for Bulgaria, as Sofia aims to enter the eurozone in January 2024.

Geopolitics suspected behind Budapest pulling out of race to host ice hockey tournament without Russia

bne IntelliNews May 30, 2022

Finland and Latvia will host the 2023 Ice Hockey World Championships after Slovenia and Hungary withdrew their joint candidacy.

Serbian president says new gas deal agreed with Russia

bne IntelliNews May 30, 2022

President Aleksandar Vucic says he agreed gas supplies on terms “very favourable for Serbia” in call with Russian President Vladimir Putin.

Belarus PM says Belarus will lose 30% of exports this year

bne IntelliNews May 30, 2022

Belarusian officials have in recent weeks become more open with the broad and hard-hitting effects of the Western sanctions. Their latest estimates assume a 30% loss for Belarusian exports this year due to such strictures.

Iran seizes Greek tankers after grabbing of Iranian ship and reports of Israeli ‘suicide drone’ strike on military facility

bne IntelIiNews May 29, 2022

Tensions between Iran and adversaries are on the rise amid the stalling of efforts to reinstate the 2015 nuclear deal.

G7 considers letting Russian oligarchs buy back sanctioned assets

Theo Normanton May 28, 2022

Finance ministers of G7 countries reportedly are considering allowing oligarchs to buy their way out of sanctions. The measure would enable western governments to raise money to help rebuild Ukraine while avoiding complicated legal disputes.

Kyrgyzstan's Peak Putin becomes a case of 'pique Putin' as protesters plant Ukrainian flag atop mountain

bne IntelIiNews May 27, 2022

Police struggle to find climbers capable of getting to mountain top to remove prank protest 4,446 metres up.

Poland passes key change to release EU funds held up in rule of law spat

Wojciech Kosc in Warsaw May 27, 2022

Parliament approves proposal by President Andrzej Duda that dismantles the Disciplinary Chamber of the Supreme Court.

Belarus’ Prime Minister confirms weapons exports to Russia

bne IntelliNews May 27, 2022

Belarusian PM confirms that Belarus supplies weapons to Russia. Roman Golovchenko said that Belarusian weapons were in demand not only domestically but also in Russia and the two countries have set up join R&D-projects to navigate Western sanctions.

Uzbekistan: China comes bearing gifts

Joanna Lillis for Eurasianet May 26, 2022

Will a railway connecting the two countries via Kyrgyzstan ever happen?

Romania hopes to negotiate smooth withdrawal from 'Russian' bank IIB

Iulian Ernst in Bucharest May 26, 2022

Romania has been planning to pull out of the Soviet-founded IIB for a couple of years, but Russia invading Ukraine accelerated the process.

Satellite photos appear to show Russian ships stealing Ukrainian grain

Dominic Culverwell in Berlin May 26, 2022

Satellites in space have caught Russian ships allegedly stealing Ukrainian grain through Crimea, Ukraine Business News reported on May 25.

Hungarian government to use windfall taxes to rein in deficit and preserve household energy price cap

bne IntelliNews May 26, 2022

The announcement is the first open admission by the government about the dismal state of public finances.

Green-left Freedom Movement leader Golob becomes Slovenia’s new prime minister

bne IntelliNews May 26, 2022

Golob’s Freedom Movement agreed to form a government with the Social Democrats and the Left after winning the April 25 general election.

Hungarian government declares another state of emergency

bne IntelliNews May 25, 2022

Parliament passes tenth amendment to the constitution, giving the radical rightwing government the power to declare a state of emergency in the case of an armed conflict in a neighbouring country.

Russian bond defaults could soar after US lets payment exemption expire

bne IntelliNews May 25, 2022

The US won’t extend the General Licence 9A (GL9A), which has allowed the Russian state and its companies to make debt service payment in dollars to international investors.