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Russian business & finance

  • Tuesday, 18 June, 2024
    Kazakhstan’s Polymetal lives under shadow of sanctions despite Russian asset sales

    Gold producer says its European lenders are keen to cut ties once they get their money back despite rebrand

    The Varvara open gold mine in Kostanay
  • Monday, 17 June, 2024
    Alisher Usmanov
    Russian billionaire Usmanov sues UBS over German probe

    Lawyers for sanctions-hit tycoon accuse Swiss bank of triggering investigation

    Alisher Usmanov and Vladimir Putin in Moscow in 2018
  • Sunday, 16 June, 2024
    EU energy
    Russia overtook US as gas supplier to Europe in May

    Rise in market share highlights difficulty of weaning the region off Russian energy

    A worker and equipment at a Russian gas installation
  • Friday, 14 June, 2024
    G7
    G7 threatens China with further sanctions over Russia war support

    Leaders accuse Beijing of ‘enabling’ Ukraine conflict and consider more confrontational stance on its economic policies

    Ukraine’s President Volodymyr Zelenskyy with US President Joe Biden at the G7 summit in Italy on Thursday
  • Thursday, 13 June, 2024
    Russia halts foreign exchange trading as US sanctions sow confusion

    Washington’s latest curbs force transactions in dollars or euros off central exchange

    An electronic board with exchange rates at a currency exchange office in Moscow
  • Wednesday, 12 June, 2024
    War in Ukraine
    US unveils tougher Russia sanctions for foreign banks

    Measure will discourage financial institutions in countries such as China from doing business with Moscow

    Janet Yellen, US Treasury secretary
  • Wednesday, 5 June, 2024
    Gazprom OAO
    Gazprom badly hurt by Ukraine war, says company-commissioned report

    Research ordered by Russian gas group warns it may not recover lost export revenues for more than a decade

    A worker turns a valve wheel in the yard at the Gazprom PJSC Atamanskaya compressor station, part of the Power of Siberia gas pipeline,
  • Sunday, 2 June, 2024
    Russian economy
    Russia-China gas pipeline deal stalls over Beijing’s price demands

    Power of Siberia 2 project would offer lifeline to exporter Gazprom as Moscow’s dependence on its neighbour grows

    Xi Jinping and Vladimir Putin in front of their national flags
  • Sunday, 2 June, 2024
    Wally Adeyemo
    We need to put sand in the gears of the Russian war machine

    The private sector must play its part in hobbling Putin’s military-industrial complex

    Photo taken at ground level looking up at a Russian Army vehicle-mounted, multiple rocket launcher firing rockets in Ukraine
  • Thursday, 30 May, 2024
    War in Ukraine
    EU prepares tariffs on Russian goods exempt from sanctions

    Plan to target €42bn of imports could cover food, medicines and nuclear fuel

    Russian wheat being harvested in Omsk
  • Thursday, 30 May, 2024
    War in Ukraine
    US seeks to choke off supplies via China for Russia’s war machine

    Ukraine’s allies and western businesses will be told to stop flow of critical components

    Wally Adeyemo walking in Kyiv
  • Wednesday, 29 May, 2024
    War in Ukraine
    Russia sanctions are ineffective, says Dubai trade hub chief

    Measures imposed on Moscow do not halt business but simply redirect it, DMCC chair says

    The Dubai skyline
  • Tuesday, 28 May, 2024
    Western business, the Kremlin and the war
    Western businesses backtrack on their Russia exit plans

    Companies such as Avon Products, Air Liquide and Reckitt remain in country as bureaucratic obstacles to leaving increase

    Illustration showing Vanish cleaning fluid, Air Liquide equipment and a toilet brush and container
  • Thursday, 23 May, 2024
    War in Ukraine
    Russian oligarch seeks damages from Luxembourg on $15bn assets

    Billionaire Mikhail Fridman demands compensation for sanctions under investor protection treaty

    Mikhail Fridman
  • Friday, 17 May, 2024
    European banks
    ECB pressures banks to speed up Russia exits on fear of US action

    Regulator has requested detailed plans from lenders including Italy’s UniCredit and Austria’s Raiffeisen

    Outside view of European Central Bank building
  • Wednesday, 15 May, 2024
    US Treasury threatens Austria’s Raiffeisen Bank over Russia unit

    Bank ditched asset-swap plan connected to oligarch Oleg Deripaska after letter warning of potential secondary sanctions

    People walk outside a Raiffeisen outlet in Moscow, Russia
  • Tuesday, 14 May, 2024
    Oleg Deripaska
    US imposes sanctions on entities involved in Raiffeisen’s aborted Deripaska deal

    The parties had conducted an ‘attempted sanctions evasion scheme’ connected to the Russian oligarch, Washington says

    Oleg Deripaska at an event in St Petersburg in 2021
  • Tuesday, 14 May, 2024
    Alexandra Prokopenko
    Putin’s trip to China may show US threats are wishful thinking

    They will privately brainstorm options for a sanctions-proof infrastructure before quietly implementing them

    People visit the booth of cross-border interbank payment system (Cips) during China International Financial Exhibition at Shougang Park last years in Beijing
  • Monday, 13 May, 2024
    Inside BusinessPatrick Jenkins
    Raiffeisen has been a rogue operator in Russia for too long

    Austrian bank continues to make big profits in the country after Putin’s invasion of Ukraine

    A signboard advertising Raiffeisen Bank is seen behind a monument to Vladimir Lenin in Moscow
  • Friday, 10 May, 2024
    The Big Read
    The smuggling trail keeping Russian passenger jets in the air

    Sanctions have caused imports of spare parts to collapse. But airlines have found new ways to get components into the country

    A silhouetted figure stands in front of a huge map of the Americas covered in outlines of blue aircraft of various sizes
  • Wednesday, 8 May, 2024
    Raiffeisen Bank International AG
    Austria’s Raiffeisen scraps Oleg Deripaska asset swap deal

    Western lender with largest operations in Russia decides to ‘walk away’ from deal after pressure from regulators

    People walking in front of a Raiffeisen bank in Moscow
  • Sunday, 5 May, 2024
    News in-depthRussian economy
    Russian finance flows slump after US targets Putin’s war machine

    Washington’s crackdown shows its leverage over global banking system

    A montage of a picture of Vladimir Putin and Russian roubles
  • Thursday, 2 May, 2024
    Gazprom OAO
    Gazprom plunges to worst loss in decades as sales to Europe collapse

    Energy giant suffers fallout from Ukraine war as Europe weans itself off Russian supplies

    Gazprom’s logo on the roof of a building in Saint Petersburg
  • Thursday, 2 May, 2024
    Free LunchMartin Sandbu
    Ethical business in an evil world Premium content

    How western corporates should (belatedly) think about their Russia exposure

    The Grand Kremlin Palace and office buildings in the Moscow International Business Center
  • Thursday, 2 May, 2024
    Special ReportRisk Management: Financial Institutions
    Banks face new risks as US tightens sanctions on Russia

    Ukraine conflict shows no sign of abating — and financial institutions are being expected to implement the response

    A man giving a speech at a lectern with two microphones, in a room decorated with American flags, a large painting of a man riding a horse in a landscape, and plants in the background
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