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Business
first tranche
EU Transfers $1.6 Billion Raised From Russian Assets for Ukraine
EU member states agreed to use the profits from frozen Russian Central Bank assets to help arm Ukraine and fund its reconstruction.
percentage hike
Russia’s Central Bank Raises Rates to 18% Amid Inflation Woes
The increase comes as the country struggles to get a hold on inflation and as widespread labor shortages drive up wages.
2 Min read
China Railway Tunnel Group
Novosibirsk Mayor Says China ‘Ready’ to Help Develop Public Transport Network
Representatives from the China Railway Tunnel Group met to discuss extending the city's metro line and the construction of a new highway.
1 Min read
no prenup
Wildberries Founder Announces Divorce as Husband Enlists Kadyrov to Fight ‘Hostile Takeover’
Tatiana Bakalchuk, Russia's richest woman, revealed her divorce after her husband and business partner asked the Chechen strongman for help.
2 Min read
east asia
Russia Bans Entry of Top Japanese Business Execs
The ban list includes Toyota chairman Akio Toyoda and Rakuten chief Hiroshi Mikitani, among others.
1 Min read
confiscated assets
Putin Transfers Seized TGK-2 Utility to Gazprom
Gazprom subsidiaries now control almost 100 billion rubles ($1.1 billion) of confiscated assets.
1 Min read
reasons unknown
Russian Online Marketplace Avito Vanishes From Apple’s App Store
Avito, which is among the world’s most-visited classifieds websites, said it contacted Apple to find out why its app was no longer available.
1 Min read
Pertamina corporation
Indonesia Seeks to Buy Russian Oil for the First Time in Decade – Reuters
State-owned oil and natural gas corporation Pertamina added two Russian oil grades alongside others to its tender lists for purchase in September.
1 Min read
druzhba pipeline
Ukrainian Sanctions Halt Lukoil Deliveries to Slovakia, Hungary – Reports
Sanctions signed by Zelensky have effectively banned Russia’s second-largest oil producer Lukoil from using Ukraine as a transit hub.
1 Min read
Nebius Group
Rebranded Yandex Launches AI Venture in Europe After Russia Exit
Yandex co-founder Arkady Volozh said he hopes Nebius “will become one of the largest AI infrastructure companies in the world, certainly in Europe.”...
2 Min read
sanctions consequence
Russian Antivirus Firm Kaspersky to Wind Down U.S. Operations
The company, which provides a popular antivirus software, has been operating in the U.S. for nearly two decades.
1 Min read
remaining stake
Yandex Parent Company Fully Divests from Russia
The $2.8 billion sale of a 28% stake completes the Amsterdam-based Yandex NV’s exit from Russia.
2 Min read
'veiled threat'
Saudi Arabia Implied It Would Sell Euro Bonds if G7 Seized Frozen Russian Assets – Reports
Instead of confiscating the money, the EU adopted a plan to use the profits from the frozen Russian assets to fund $50 billion of military aid for Ukraine...
2 Min read
millions in damages
Bulgaria Takes Gazprom to Court Over Halted Supplies
Bulgaria was one of the first EU countries to see its gas supplies halted after refusing to pay in rubles as demanded by Moscow in response to Western...
2 Min read
cashing out
Russian Tycoons Earn $11.3Bln in Dividends Amid Wartime Economic Boom – Bloomberg
The earnings underscore how the Russian economy has adapted to the punishing Western sanctions imposed in response to the 2022 invasion of Ukraine.
1 Min read
unsevered pipelines
Gazprom’s June Exports to Europe Jump From 2023 – Reuters
Gazprom’s EU exports averaged 81.8 million cubic meters per day in June, up from 66.8 million cubic meters per day in June 2023, according to Reuters’...
1 Min read
military spending
World Bank Upgrades Russia to ‘High-Income’ Country
“Economic activity in Russia was influenced by a large increase in military-related activity in 2023,” the World Bank said.
1 Min read
earnings rebound
Russian Oil and Gas Revenues Surge in June – Reuters
The estimated 812 billion rubles in revenues would mark a more than 50% year-on-year increase — up from 529 billion rubles in June 2023.
1 Min read
clicker game mania
A Viral Telegram Game Promises Crypto Coins for Clicks. What’s the Catch?
In just a few weeks, Hamster Kombat claims to have amassed 200 million users — sparking concerns from both Russian and Ukrainian authorities.
5 Min read
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