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Russia and the global economy

Airlines lose billions amid rumors of trans-Siberian flight blockade
Major airlines saw stock shares nosedive on Wednesday, after media reports said that Russia could block flights over Siberia. However, Russian Foreign Minister Sergey Lavrov said the reports are simply rumors.

06.08.2014 15:00

Dobrolet makes 16 plane deal with Boeing
Russian flag carrier Aeroflot's low-cost arm Dobrolet has signed a contract with America’s Boeing to deliver 16 new planes, despite suspending flights due to Western sanctions.

06.08.2014 15:02

Putin bans agricultural imports from sanctioning countries for 1 year
A one-year ban has been imposed on certain agricultural produce, foods and raw materials from countries that have sanctioned Russia. An order on economic measures to protect the country's security has been signed by President Putin.

06.08.2014 14:57

Sanctioned Russia and Iran sign 5-yr deal to ease Western pressure
Moscow and Tehran have signed far-reaching deals, from energy to consumer goods, which are expected to undermine Western-led sanctions against the two countries.

06.08.2014 07:27

Switzerland to enforce EU sanctions on Russia
The Swiss government has extended sanctions to include 26 people in Russia and Ukraine, as well as 18 organizations, so the country isn’t used as a channel to avoid EU and US sanctions.

05.08.2014 12:41

Lukoil sells off gas stations to Hungary, Slovakia, Czech Republic
Russia’s second largest oil producer Lukoil is going to sell a network of gas stations across the Czech Republic, Slovakia, and Hungary as it continues to slim down assets in Central Europe.

05.08.2014 06:59

Medvedev: Russia to consider retaliation to EU sanctions
Moscow will consider possible responses to the EU sanctions against Russian airlines, Prime Minister Dmitry Medvedev has said.

05.08.2014 08:11

Hong Kong cash haven for Russian telecom over sanctions
Russian mobile network MegaFon has decided to place 40 percent of its cash in Hong Kong dollars to diversify and de-dollarize. The move is also a preventative move to protect against Western-led sanctions.

31.07.2014 11:25

Russia ordered to pay $2.5 bn to Yukos shareholders
Russia must pay $2.51 bn (€1.87 bn) in compensation to the former shareholders of Yukos, once Russia's largest private oil company, for unfair tax proceedings. The European Court of Human Rights has also ruled Russia must pay €300,000 in legal costs.

31.07.2014 12:17

European business lobby warns new Russian sanctions will hit Ukraine and EU
​The Moscow-based Association of European Businesses (AEB), which represents more than 600 European companies working in Russia, said on Wednesday it “deeply regrets” the new sanctions.

30.07.2014 15:13

How sanctions will affect the West’s $35bn invested in Russian oil
The US and EU have banned the export to Russia of hi-tech oil equipment needed in Arctic, deep sea, and shale extraction projects. This will leave Western companies, which have an estimated $35 billion invested in Russian oil, in a bind.

30.07.2014 14:44

European Union agrees on Russian sectoral sanctions – top EU officials
The EU has agreed on a new package of sanctions against Russia targeting the military, oil and finance sectors, according to a joint statement by the presidents of the EU Commission and Council.

29.07.2014 08:22

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