Another three top-managers of Sberbank are leaving the main Russian bank, including the Chief Financial Officer Alexandra Buriko.
Two others are the chief of Sberbank's retail block Sergei Maltsev and Deputy Chairman Natalia Alymova.
Senior VP of Sberbank Yulia Chupina, FIrst Deputy CEO Lev Khasis, CTO David Rafalovsky and another VP, Head of Global Markets Department Andrei Shemetov have left the bank earlier.
This exodus is explained by the sweeping sanctions on the top-managers of significant Russian banks like VTB and Gazprombank.
These people are used to a certain level of comfort and are not ready to give it up because of any "special operation".
Two others are the chief of Sberbank's retail block Sergei Maltsev and Deputy Chairman Natalia Alymova.
Senior VP of Sberbank Yulia Chupina, FIrst Deputy CEO Lev Khasis, CTO David Rafalovsky and another VP, Head of Global Markets Department Andrei Shemetov have left the bank earlier.
This exodus is explained by the sweeping sanctions on the top-managers of significant Russian banks like VTB and Gazprombank.
These people are used to a certain level of comfort and are not ready to give it up because of any "special operation".
As we have pointed out many times, the main damage that February, 24 has imposed on Russia is technological.
It will be felt soon enough that in long term Kremlin is sabotaging сrucial economic sector of the country: oil and gas industry.
Sanctions restrict Russia's access to crucial Western technology needed to drill oil from drawn-down remote Siberian and Arctic fields.
Kommersant came up today with an article about the retreat of oil service majors (Schlumberger, Baker Hughes, Halliburton) from Russia.
Their complete withdrawal could bring Russian output down from 5 to 15% a year.
Russian discourse is keen about conspiracies like NWO - new world order. It is escalating to No Way Out.
It will be felt soon enough that in long term Kremlin is sabotaging сrucial economic sector of the country: oil and gas industry.
Sanctions restrict Russia's access to crucial Western technology needed to drill oil from drawn-down remote Siberian and Arctic fields.
Kommersant came up today with an article about the retreat of oil service majors (Schlumberger, Baker Hughes, Halliburton) from Russia.
Their complete withdrawal could bring Russian output down from 5 to 15% a year.
Russian discourse is keen about conspiracies like NWO - new world order. It is escalating to No Way Out.
Ukraine has seized securities of sanctioned oligarch Mikhail Fridman in Cypriot companies worth $420 million held at a bank in Ukraine.
Fridman plans to sell his business in Russia, but stay in Ukraine and even invest in the country's ruined economy.
Sure enough, Fridman has no altruistic intentions and only plans to buy his ticket allowing him to further live in the world he is used to live in.
This guy is not about ideas and values.
Fridman plans to sell his business in Russia, but stay in Ukraine and even invest in the country's ruined economy.
Sure enough, Fridman has no altruistic intentions and only plans to buy his ticket allowing him to further live in the world he is used to live in.
This guy is not about ideas and values.
Kazakhstan's largest ore enrichers SSGPO has cut its supplies to Russian steel giant MMK in Magnitogorsk.
SSGPO has been MMK's largest supplier. It has no obligations to follow Western sanctions against Russia, but chose to do so.
We see how sanctions are slowly disrupting economic ties between two members of Eurasian Economic Union - Kazakhstan and Russia.
At the same time, we do not see how Russia will be able to hold on in Kazakhstan against China and Turkey, for that matter.
SSGPO has been MMK's largest supplier. It has no obligations to follow Western sanctions against Russia, but chose to do so.
We see how sanctions are slowly disrupting economic ties between two members of Eurasian Economic Union - Kazakhstan and Russia.
At the same time, we do not see how Russia will be able to hold on in Kazakhstan against China and Turkey, for that matter.
Notorious senator Andrei Klishas claimed today that Russian "import replacement program has completely failed".
Sure enough, this drew negative reaction from Kremlin: spokesman Dmitry Peskov had to disagree with Klishas publicly.
Klishas gained notoriety for introducing various bills aimed to centralize Putin's individual power in the country.
Perhaps, today was the first day in his life when he publicly said something that is true and makes sense.
Sure enough, this drew negative reaction from Kremlin: spokesman Dmitry Peskov had to disagree with Klishas publicly.
Klishas gained notoriety for introducing various bills aimed to centralize Putin's individual power in the country.
Perhaps, today was the first day in his life when he publicly said something that is true and makes sense.
American journalists have audiotape with Mikhail Fridman heavily criticizing Russian special operation in Ukraine.
We confirm personally that this audiotape exists, but could only guess why it hasn't been published yet. Fridman has always been a generous lobbyist.
We confirm personally that this audiotape exists, but could only guess why it hasn't been published yet. Fridman has always been a generous lobbyist.
Reserves held by the Central Bank of Russia have fallen from $629.4bn on February 25 to $585.7bn as of May 13, a fall of $43.7bn according to the latest data released by the Bank.
More than $300bn of Russian reserves held in Europe are frozen, although they are still counted as part of the Bank's reserves.
According to the latest data released by Russian Finance Ministry, Russia has spent $9.6bn on defense in April, or about $308mln a day.
The military spending is surging rapidly, while the incomes of Russian budget outside gas and oil are almost collapsing: -10.8% in March, -18.1% in April.
Russia's future will be basically defined by the possible European ban of Russian gas and oil. Numbers don't lie.
More than $300bn of Russian reserves held in Europe are frozen, although they are still counted as part of the Bank's reserves.
According to the latest data released by Russian Finance Ministry, Russia has spent $9.6bn on defense in April, or about $308mln a day.
The military spending is surging rapidly, while the incomes of Russian budget outside gas and oil are almost collapsing: -10.8% in March, -18.1% in April.
Russia's future will be basically defined by the possible European ban of Russian gas and oil. Numbers don't lie.
US may offer Lukashenko a good deal: a six-month sanctions waiver to allow potash export in exchange for allowing Ukrainian grain export through Belarus.
The export of Ukranian grain is important to avoid severe food crisis in poor countries and is negotiated by the UN, but is restricted by the Russian operation in Ukraine.
Let's see if Lukashenko, who is clearly unsatisfied with the lasting crisis, will sell out. It is a good deal.
The export of Ukranian grain is important to avoid severe food crisis in poor countries and is negotiated by the UN, but is restricted by the Russian operation in Ukraine.
Let's see if Lukashenko, who is clearly unsatisfied with the lasting crisis, will sell out. It is a good deal.
Austria has frozen a total of €254mln in Russian wealth across 97 accounts, including five properties linked to Russian oligarchs targeted by sanctions.
"Neutral" Austria is still committed to following sanctions against Russia. Other countries with traditional ties with Russia are doing the same.
By the end of April Italy has frozen €800mln, Netherlands - about €400mln.
"Neutral" Austria is still committed to following sanctions against Russia. Other countries with traditional ties with Russia are doing the same.
By the end of April Italy has frozen €800mln, Netherlands - about €400mln.
Putin is appointing another member of his personal security service as a federal emergency minister.
His former security officer Evgeny Zinichev, who died tragically last year, will be replaced by another Putin's personal security officer from FSO Alexander Kurenkov, who is also a close associate of Russian Guard's chief Viktor Zolotov (also former bodyguard of Putin).
The circle of bodyguards. The man really trusts nobody.
His former security officer Evgeny Zinichev, who died tragically last year, will be replaced by another Putin's personal security officer from FSO Alexander Kurenkov, who is also a close associate of Russian Guard's chief Viktor Zolotov (also former bodyguard of Putin).
The circle of bodyguards. The man really trusts nobody.
According to Bloomberg, Aviation data specialists IBA estimate Russian airlines have supplies to last three months and then may start cannibalizing aircraft for parts.
To make it simple, Russia isn't capable to overcome the deficit of technology in crucially important aviation.
You could hardly find another sector or company devastated by the sanctions to the extent of Russian civil aviation and Aeroflot.
It's a pity, for a really competitive international company is turning into a domestic product with very grim perspectives.
To make it simple, Russia isn't capable to overcome the deficit of technology in crucially important aviation.
You could hardly find another sector or company devastated by the sanctions to the extent of Russian civil aviation and Aeroflot.
It's a pity, for a really competitive international company is turning into a domestic product with very grim perspectives.
Chinese technology exports to Russia plummeted in March after U.S.-led sanctions took effect, U.S. Commerce Secretary Gina Raimondo said today.
Chinese shipments of laptops to Russia fell by 40% in March compared with February, while exports of smartphones were off by 65%. Exports of telecommunications network equipment fell 98%.
As we have pointed out numerous times, China will follow American sanctions against Russia more or less accurately.
Chinese shipments of laptops to Russia fell by 40% in March compared with February, while exports of smartphones were off by 65%. Exports of telecommunications network equipment fell 98%.
As we have pointed out numerous times, China will follow American sanctions against Russia more or less accurately.
US Treasury Department won’t extend the General Licence 9A,that has allowed the Russian state and its companies to make debt service payment in dollars to international investors.
This could result in a cascade of defaults in Russia.
Russian entities managed to make their international payments so far. The situation has been getting worse as banks have been shying away any Russian transactions (even legal) because of sanctions.
Russia has enough money to meet its obligations, but is being pushed to a default which will damage its future on capital markets.
This could result in a cascade of defaults in Russia.
Russian entities managed to make their international payments so far. The situation has been getting worse as banks have been shying away any Russian transactions (even legal) because of sanctions.
Russia has enough money to meet its obligations, but is being pushed to a default which will damage its future on capital markets.
Russian Finance Ministry announced today that Russia will pay its foreign debt in rubles.
This is a technical default.
This is a technical default.
According to various reports, CEO of Russia's top-10 lender Otkrytie Bank, former Finance Minister Mikhail Zadornov is not too happy with the future merger of the bank with state-owned major VTB.
Zadornov doesn't need to take any chances and find other ways of enrichment. The deal is approved by Central Bank and Putin personally.
Both VTB and Otkrytie have been heavily sanctioned. Zadornov is under personal sanctions of US and UK.
This merger indicates the end of global ambitions of Russian banks. Sanctions have made it impossible for Russian financial entities to be global players or even thinking of being global.
Zadornov doesn't need to take any chances and find other ways of enrichment. The deal is approved by Central Bank and Putin personally.
Both VTB and Otkrytie have been heavily sanctioned. Zadornov is under personal sanctions of US and UK.
This merger indicates the end of global ambitions of Russian banks. Sanctions have made it impossible for Russian financial entities to be global players or even thinking of being global.
Yandex will move its business to Israel. There is various evidence of the move, the deal between Arkady Volozh and Israeli government seems to be done.
Israel did its best to stay neutral in the conflict between Russia and Ukraine, but actually could harm Russia more than openly hostile countries.
It is a brain drain. Israel is taking qualified IT-specialists out of Russia.
Israel did its best to stay neutral in the conflict between Russia and Ukraine, but actually could harm Russia more than openly hostile countries.
It is a brain drain. Israel is taking qualified IT-specialists out of Russia.
While Roman Abramovich was forced out of English football and sold Chelsea FC, another Russian tycoon, who is far less well-known, has entered the Premier League with AC Bournemouth.
Maxim Demin has moved to the UK long time ago and is former Tatneft top-manager.
The public doesn't know much about him, but one fact is enough: he hasn't been sanctioned neither by UK, nor by US.
Maxim Demin has moved to the UK long time ago and is former Tatneft top-manager.
The public doesn't know much about him, but one fact is enough: he hasn't been sanctioned neither by UK, nor by US.
Vyacheslav Volodin vs Andrei Turchak
It's hard to distinguish one from another. This public dispute indicates that Putin doesn't control Russian elites the way he used to.
Second, it's a public fight for the future money in Donbass. Turchak is desperate to become one of Russia's top state managers and wants more important role in the system.
Everything he is touching has failed so far. The latest collapse was in South Ossetia, where Turchak wasn't able to promote the acting president to his second term.
It's hard to distinguish one from another. This public dispute indicates that Putin doesn't control Russian elites the way he used to.
Second, it's a public fight for the future money in Donbass. Turchak is desperate to become one of Russia's top state managers and wants more important role in the system.
Everything he is touching has failed so far. The latest collapse was in South Ossetia, where Turchak wasn't able to promote the acting president to his second term.
Leading Russian truckmaker Kamaz is forced to halt its activities and introduce a 3 days working week.
Kamaz is suffering from the lack of technologies and details that are impossible to obtain because of sanctions.
The latter are slowly, but surely destroying Russian industries. There is basically one way out - to find another foreign (Chinese) partner.
Kamaz is suffering from the lack of technologies and details that are impossible to obtain because of sanctions.
The latter are slowly, but surely destroying Russian industries. There is basically one way out - to find another foreign (Chinese) partner.
The output of Russian steel giants MMK and Severstal has declined by as much as 40% year-on-year.
Obviously, steelers will look for heavy state financing. There won't ne money for people, these guys will do fine.
Obviously, steelers will look for heavy state financing. There won't ne money for people, these guys will do fine.
Canadian Minister of Finance Chrystia Freeland has suggested that Russian billionaires could pay to have sanctions against them lifted.
Freeland worked with Financial Times in Moscow and knows some Russian oligarchs personally. This idea has been reportedly suggested to her by one Russian billionaire.
This move could help Russian moguls distance themselves from Putin. The money could be used for various needs, including financing Ukraine.
It is a good idea, actually. Basically they will pay for their assets twice.
Freeland worked with Financial Times in Moscow and knows some Russian oligarchs personally. This idea has been reportedly suggested to her by one Russian billionaire.
This move could help Russian moguls distance themselves from Putin. The money could be used for various needs, including financing Ukraine.
It is a good idea, actually. Basically they will pay for their assets twice.