As the US and Europe escalate talks of sanctions, Russia is recommending companies unregister abroad and bring their shares to the Moscow Exchange to protect from possible future sanctions and provide economic security.
Both US-based rating agencies Fitch and S&P downgraded the outlook on Russia's long-term foreign and local currency ratings to negative from stable, referring to the potential impact of US and EU sanctions on the economy.
A list has surfaced containing the names of more than 100 Russian businessmen and politicians allegedly targeted for EU economic sanctions. German newspaper Bild reported Igor Sechin, CEO of the world’s largest-listed oil company is on the list.
The Polish government said it will offer 6-year tax breaks for shale gas companies in an effort to fast track investment and exploration. The announcement comes as energy tension with Russia run high over Ukraine.
Starting April 1, Gazprom will no longer offer Ukraine discounted gas prices because it is more than a year and $1.5 billion late on their debt payments to Russia’s largest gas producer for deliveries, Russian President Vladimir Putin said Tuesday.