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.
Dutch and Danish gas traders refused to pay for Russian gas in rubles. Accordingly, Gasprom now has to stop its gas exports to Netherlands and Denmark.
Let's see if Kremlin will keep its word and halt the gas exports to Europe. No gas infrastructure has been damaged in Ukraine since February, 24.
Let's see if Kremlin will keep its word and halt the gas exports to Europe. No gas infrastructure has been damaged in Ukraine since February, 24.
Valentin Yumashev, former head of administration of the first president of Russia Boris Yeltsin, and his son-in-law, resigned from the position of adviser to Russian president Vladimir Putin.
Putin is toxic for the vast majority of Russian elites, but, of course, not everyone can almost openly cut ties with him like Yumashev did.
Putin is toxic for the vast majority of Russian elites, but, of course, not everyone can almost openly cut ties with him like Yumashev did.
The newly elected president of South Ossetia overturned the decision of his predecessor to hold a referendum about joining Russia.
Of course, the call has come from Moscow which is not interested in changing the landscape in the South Caucasus now, when it is stuck in Ukraine.
Referendum was Andrei Turchak's idea and had nothing to do with Russian interests. Turchak has been backing the former leader of South Ossetia Bibilov for years.
Successful referendum was supposed to be his ticket to Kremlin. According to our sources, Turchak wants to take one of the leading positions in the Presidential Administration.
Of course, the call has come from Moscow which is not interested in changing the landscape in the South Caucasus now, when it is stuck in Ukraine.
Referendum was Andrei Turchak's idea and had nothing to do with Russian interests. Turchak has been backing the former leader of South Ossetia Bibilov for years.
Successful referendum was supposed to be his ticket to Kremlin. According to our sources, Turchak wants to take one of the leading positions in the Presidential Administration.
EU leaders have reached a compromise deal to ban Russian oil imported by sea, which covers more than two-thirds of the EU’s oil imports from Russia.
Germany and Poland will ban the pipeline oil, too. This means that by the end of the year EU will cut oil imports from Russia by 90%.
Sure enough, grey schemes are already working, but the tendency is more important. It will be much more difficult to cut gas imports, but still possible.
Patience is important in this long-term game.
Germany and Poland will ban the pipeline oil, too. This means that by the end of the year EU will cut oil imports from Russia by 90%.
Sure enough, grey schemes are already working, but the tendency is more important. It will be much more difficult to cut gas imports, but still possible.
Patience is important in this long-term game.
Communist MP Sergei Obukhov confirmed that the party is going through a crisis.
Communists could become the main opposition force during the pandemic when they started to oppose state vaccination policies.
This narrative attracted a lot of people, mainly among the youth. As usual, communists couldn't capitalize and sold out.
Soon enough they were ordered to leave the anti-vaccination narrative. MP Rashkin disagreed and was instantly charged with illegal elk hunting.
Rashkin will pass his mandate to the wife of left-wing activist Sergei Udaltsov who was once arrested for organizing anti-Putin protest.
Good attempt, but we hope nobody will buy it. Russian communists under Zyuganov will always be sellouts.
Communists could become the main opposition force during the pandemic when they started to oppose state vaccination policies.
This narrative attracted a lot of people, mainly among the youth. As usual, communists couldn't capitalize and sold out.
Soon enough they were ordered to leave the anti-vaccination narrative. MP Rashkin disagreed and was instantly charged with illegal elk hunting.
Rashkin will pass his mandate to the wife of left-wing activist Sergei Udaltsov who was once arrested for organizing anti-Putin protest.
Good attempt, but we hope nobody will buy it. Russian communists under Zyuganov will always be sellouts.
On June 1 the Credit Derivatives Determinations Committees (CDDC) of the International Swaps and Derivatives Association (ISDA) ruled that said a “failure-to-pay” event occurred on Russian credit-default swaps.
This is the first default event on Russian sovereign debt since the one that followed the 1917 Revolution.
Russia hasn't paid the interest it owed. This ruling of CDDC can trigger massive credit swaps. The default has occured.
This is the first default event on Russian sovereign debt since the one that followed the 1917 Revolution.
Russia hasn't paid the interest it owed. This ruling of CDDC can trigger massive credit swaps. The default has occured.
The sixth package of European sanctions against Russia includes prohibition of SWIFT to Sberbank, Credit Bank of Moscow, and Russian Agricultural Bank.
Basically Russian banks will have to turn to Iranian model of surviving. By the way, according to Russian media Iran is ready to enter barter arrangements with Russia, offering car parts and gas turbines in exchange for steel.
Even in trade with Iran Russia is supposed to give away raw materials and import technologies.
Basically Russian banks will have to turn to Iranian model of surviving. By the way, according to Russian media Iran is ready to enter barter arrangements with Russia, offering car parts and gas turbines in exchange for steel.
Even in trade with Iran Russia is supposed to give away raw materials and import technologies.