Europe > Eastern Europe > Russia

Russia

Capital: Moscow ; GDP growth (annual %) 2016 : -0.2%

OPEC raises forecasts for global oil demand

OPEC boosted estimates of request for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.

The Organization of Petroleum Exporting Nations raised forecasts for the all it needs to supply in 2017 and 2018 by about 200,000 barrels a day for each year, according to a statement from its secretariat in Vienna. Still, a rebound in Libyan production pushed the group’s output last month to the highest this year, undermining its plan to rebalance oversupplied world markets.
More >
New U.S. sanctions amount to 'full-scale trade war'

New sanctions on Russia which U.S. President Donald Trump has signed into law are tantamount to a "full-scale trade war", Russian Prime Minister Dmitry Medvedev said on Wednesday.
More >
EU's Juncker says ready to retaliate if needed over new U.S. sanctions on Russia

The European Union's chief executive on Wednesday said the United States had taken into account some EU concerns over new sanctions on Russia but Brussels was ready to retaliate within days if the measures hurt EU economic interests.

Speaking next U.S. President Donald Trump signed the measures, Jean-Claude Juncker said the EU would take counter measures if the U.S. sanctions harmed European companies involved in oil and gas projects with Russia.
More >

glObserver provides the latest business news Country Analysis and Reports for t

Key Facts: Full name: Russian Federation
Population: 142.8 million (UN, 2011)
Area: 17 million sq km (6.6 million sq miles)
Major language: Russian
Major religions: Christianity, Islam
Life expectancy: 63 years (men), 75 years (women) (UN)
Monetary unit: 1 rouble = 100 kopecks
Main exports: Oil and oil products, natural gas, wood and wood products, metals, chemicals, weapons and military equipment
GNI per capita: US $9,900 (World Bank, 2010)
Internet domain: .ru
International dialling code: +7

top news
interview

Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

More >
Brexit negotiations should treat energy as ‘special case’
2017/05/14
There are strong practical reasons why the UK and EU should treat energy as a appropriate case during Brexit negotiations, argues a new statement.

The statement, jointly authored by Chatham Home, the University of Exeter and the UK Energy Research Centre (UKERC), says finding common ground on energy during the Brexit negotiations would benefit both the UK and remaining EU27, while compromise may be relatively easier to achieve than for other areas.

More >
Russia’s economy will shrink by close to 5 % this year,
2015/01/21
Russia’s economy will shrink by close to 5 % this year, the European Bank for Reconstruction and Development has said in its new estimate, while average increase for eastern Europe and the former Soviet Union will fall into negative territory for the initial time since 2009.

The development bank for the former communist bloc said plunging oil prices and western sanctions would lead to a contraction in Russia of 4.8 % this year, compared with its September estimate of a 0.2 % drop.

More >
The middle of 2013 was a difficult time for emerging markets
2013/11/15
The Russian sovereign dispensed with a pre-transaction roadshow for the initial time to speed up the issuance process during heightened market uncertainty and still managed a heavily oversubscribed transaction that included a debut euro tranche.

The middle of 2013 was a difficult time for emerging markets. Expectations that the US Federal Reserve was about to taper its bond-buying programme sent deficit prices lower across the emerging market spectrum. New issuance dried up and at the same time as issuers did come to market, they were forced to pay a hefty premium.

More >
G-20 Draft Urges Job Training, Infrastructure Spending
2013/09/05
Leaders of the Group of 20 conference in Russia will consider endorsing a strategy for long-term economic increase that emphasizes steps such as infrastructure spending and job training.

More >
G20 gets 'action plan' to fight tax avoidance
2013/07/22
The OECD has presented the G20 nations with a bold strategy to crack down on tax avoidance by corporate giants and the superrich, and so boost overstretched national budgets.

The G20 group of emerging and advanced nations -- inclunding the US, EU, China and Russia -- had asked the Organisation for Economic Cooperation and Improvment(OECD) approaching up with the action plan next agreeing before this year to focus on tax avoidance.

The OECD said Friday that governments had to better align tax regulations to prevent large investors from parking huge sums in tax havens.

More >

Abdurakhman Zulumkhanov – Dudu Communication’s Project Manager
2013/02/09
Founded in 2007, DUDU Communications is a team of professionals from Russia, Turkey, the UAE, Germany and several other nations. In April 2011, the company launched Godudu, world’s prime multilingual social network that is unique in offering simultaneous translation from one language to an extra.

More >
First Deputy Prime Minister Igor Shuvalov
2013/01/14
Europe’s economy is weak and Russia’s is benefiting from higher energy prices. What does that mean for the next of their relative economies?

We put that question to Prime Deputy Prime Minister Igor Shuvalov as he visited Berlin for the 60th anniversary of Eastern Committee of German Economy.

More >