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Russian economy

Mega oil field discovered in southern Russia
A new oil field with roughly 300 million tons of oil and 90 billion cubic meters of gas has been discovered in the Astrakhan region of Russia.

16.04.2014 14:41

Ukraine backlash could result in 0% Russia GDP growth
Escalating violence in Eastern Ukraine could be a blow to Russia’s economy, with 0 percent growth a possibility according to the Russian Finance Minister Anton Siluanov.

16.04.2014 08:12

Ukrainian banks quit Crimea
Banks are packing up and leaving Crimea as Kiev prepares sanctions against Ukrainian companies operating on the Black Sea peninsula.

15.04.2014 07:01

De-invest from the West: Russia urges companies to return assets to the motherland
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.

09.04.2014 10:29

​Stable to Negative: S&P, Fitch cut Russia’s rating on sanction fears
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.

21.03.2014 10:25

EU sanctions are ‘stupid’ and will ‘sabotage’ the West – Rosneft spokesperson
​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.

14.03.2014 14:38

Gazprom doesn’t want ‘gas crisis’ – CEO
Russia’s biggest gas producer Gazprom said Thursday it doesn’t want a "gas crisis", and hopes Ukraine can pay its outstanding $1.8 billion debt.

13.03.2014 14:10

Moscow won't exclude sanctions to counter US and EU - Ministry
Russia is ready to retaliate with counter sanctions against the EU and US if they go ahead with economic measures against Russia over tension in Crimea, the Russian Economic Ministry has said.

13.03.2014 10:18

Fracking along: Poland to offer tax incentives to spur shale investment
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.

12.03.2014 11:51

2 big pipeline projects on hold, as EU-Russia relations sour over Ukraine
Gazprom, Russia’s largest natural gas producer, will see delays in two pipe projects, the South and Nord Stream, as the company is caught in a diplomatic crossfire over Ukraine.

11.03.2014 07:11

Gazprom won’t extend discount gas price for Ukraine - Putin
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.

04.03.2014 13:00

Ruble, stocks slide over growing Ukraine tension
Russia’s key indices lost up to 12 percent in Monday trading, while the Russian ruble has reached historic lows against both the dollar and the euro.

03.03.2014 07:05

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