Russia has more than the estimated 3 trillion cubic metres in natural gas reserves in its gasfields, enough to last for 50 years, Russia’s President has said commenting on the 30-year $400 billion gas deal with China.
The 18th International Economic Forum in St. Petersburg has kicked off and runs May 22-24. Thousands of business leaders, policy makers, and economic experts have gathered to talk business, leaving politics at the door.
Thousands of businessmen, policymakers, and economic experts will descend upon Russia's northern capital on May 22-24 for the 18th annual investment forum. Less foreigners will attend this year, as CEOs have bowed to political pressure to cancel.
Ukraine will pay back its staggering debts for Russian gas in just 10 days’ time – but only if Gazprom agrees to bring back the price agreed with ousted President Viktor Yanukovich for 2014, Ukraine’s coup-imposed PM said in his EU address.
The European Commission issued Ukraine a €100mn loan, the first tranche of aid part of a larger €1.61bn macroeconomic package to help support economic reform focusing on anti-corruption, energy subsidies, financial sector reform, and trade and taxation.
Economic sanctions against Russia will only bring the world closer to another Cold War, which is counterproductive and most of all hurts business in Europe and America, Prime Minister Dmitry Medvedev said in an interview with Bloomberg TV.
Moscow has no plans of creating military bases in Latin America but might establish some sustainment centers for the Russian Navy there, Foreign Minister Sergey Lavrov told Rossiya TV channel after a trip to four countries in the region.
Canada has chosen not to impose sanctions against two of Russia’s top officials already targeted by the US – Rosneft’s Sechin and Rostec’s Chemezov. Reports say Ottawa doesn’t want politics to be hurting one of the country’s biggest business projects.
Under Russia's new legislation, Visa and MasterCard will have to pay $3 billion in ‘security fees’ to continue operating in Russia, more than five times higher than the companies combined revenues, a new Morgan Stanley report says.