Russia 090820 Basic Political Developments

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National Economic Trends

  • Russia’s Ruble Gains Against Dollar as Oil Prices Advance

  • Russian Reserves Fall $2.8 Billion as Central Bank Intervened

  • Russia injects 44.6 bln roubles via repos

  • Russia’s Borrowing Plan May Face ‘Difficulties,’ Ministry Says

  • Tax receipts plummet in 1H09 - The government's tax receipts plummeted in the first half of this year to this year, down by almost 40% on the year.
    Russia harvested 56.5 mln tonnes of grains

  • Putin's Limited Options to Restore Growth - Russia's Putin fears pumping money into the economy will weaken the ruble, restrict bank lending, and crimp economic growth

Business, Energy or Environmental regulations or discussions

  • Russia May Impose Progressive Duty on Nickel Exports - Russia may impose a progressive duty on exports of nickel once prices in London exceed $12,000 a ton under a recommendation made by a government commission for protective measures in foreign trade. The recommendation was posted on the government’s Web site late yesterday.

  • Russian govt recommends progressive nickel duty

  • MOESK Fined $1.4M After Dacha Complaint - A refusal to connect a Moscow region dacha to the local power grid could cost MOESK 45.4 million rubles ($1.4 million), the largest fine the Federal Anti-Monopoly Service has ever levied based on an individual’s complaint.

  • Banks: Ruble retail deposits rose to $7.6bn in 6M09, foreign-currency deposits $7.4bn

  • VEB Seeks $500M Abroad - State lender VEB is in talks with international lenders to raise about $500 million, three people familiar with the situation said.

  • Rusnano Will Sharply Boost Spending - Rusnano will approve 40 billion rubles ($1.25 billion) worth of investment this year, one-third more than it planned in May, a spokeswoman said Wednesday.

  • Amur soars on reserves estimate submission - East Russia-focused exploration and development company Armur Minerals pleased shareholders Thursday with details of a reserves estimate that it has submitted for regulatory approval.
    Amur upbeat on Maly Krumkon estimate, shares jump

  • TMK Borrows $450M

  • St. Pete Investment Falling - St. Petersburg lured 33.5 percent less foreign direct investment in the first half as the credit crisis deterred investors, the city said Wednesday.

  • Kerimov Purchases Rebuilt Voyentorg - Suleiman Kerimov’s Nafta Ko holding has become the main owner of the legendary Voyentorg department store in central Moscow.

  • Russian Investor's Ally Dormann In As Sulzer Chairman - Russian billionaire Victor Vekselberg on Tuesday tightened his grip on Sulzer AG (SUN.EB) after his investment firm Renova succeeded in getting Juergen Dormann elected as the Swiss machinery maker's new chairman.

  • Russia Construction Industry To Contract By 15.8% In 2009, To Reach US$67.5bn

Activity in the Oil and Gas sector (including regulatory)

  • PetroVietnam to Build $1 Billion Gas Pipeline, Thoi Bao Says - Vietsovpetro, a joint venture with Russia’s OAO Zarubezhneft, will start construction of the 398-kilometer (247- mile) pipeline this year, Thoi Bao said.

  • Gazprom, Rosneft to gain from tax shift - "The oil and gas sector in Russia is extremely highly taxed relative to the rest of the economy, and we believe that forthcoming tax changes are likely to benefit oil and gas companies at the expense of other exporters," Kingsmill Bond and Andrey Kuznetsov, analysts at Troika, said yesterday.

  • Oil shipping gives growth for Northwest Russian ports

  • Lukoil installs Yuri Korchagin SBM - Lukoil has completed assembly of the single point mooring (SBM) that is part of the site structures and facilities for Yuri Korchagin field in the Caspian Sea.

  • Tatneft blamed for overpricing its oil while selling it to its shareholder

  • Rosneft - Putin may visit Rosneft's Vankor field in August



Full Text Articles

Basic Political Developments

Tymoshenko, Putin Agree Draft Agenda Of Fifth Meeting Of Ukrainian-Russian Economic Committee,_Putin_Agree_Draft_Agenda_Of_Fifth_Meeting_Of_Ukrainian-Russian_Economic_Committee/
20/08/2009 11:26  (01:22 minutes ago)

The FINANCIAL -- Ukrainian Prime Minister Yulia Tymoshenko and Russian Prime Minister Vladimir Putin have agreed a draft agenda of the fifth meeting of the Ukrainian -Russian economic committee to take place in Ukraine in October. Ukrainian News learned this from a statement by the media department of the Secretariat of the Cabinet of Ministers.

According to the statement, Prime Minister Yulia Tymoshenko on Wednesday had a phone conversation with Russian Prime Minister Vladimir Putin. Tymoshenko and Putin agreed that the agenda will include a question of the joint batch production of An-70 plane and other topics of the economic cooperation.

The sides also stated positive and effective bilateral cooperation in the implementation of the contracts on Russian gas supplies to Ukraine and transit of gas to Europe.

According to the statement, Prime Minister Tymoshenko and Prime Minister Putin highly assessed the execution of the gas agreement by both sides.

The media department of the Ukrainian government notes that the phone conversation between Tymoshenko and Putin was friendly and constructive in character.

As Ukrainian News earlier reported, Tymoshenko and Putin agreed to hold a bilateral meeting during their visits to Poland in invitations from Polish Prime Minister Donald Tusk on September 1.

Russian President Dmitry Medvedev in his open letter to Ukrainian President Viktor Yuschenko dated August 11 stated aggravation of the Russia-Ukrainian relations during the presidency of Viktor Yuschenko.

He also accused the Ukrainian authorities of hindering the business of the Russian companies in Ukraine and criticized the Ukrainian state for deliveries of weapon to Georgia.

A part of the Ukrainian politicians has sided with the position of Medvedev and a part of politicians criticized the Russian president.

Moldovan, Russian presidents to meet in Sochi on 21 August
Aug. 20, 2009 / [6111]

Chisinau, 20 August /MOLDPRES/ - Moldovan President Vladimir Voronin will meet Russian President Dmitriy Medvedev in Sochi on Friday, 21 August, the presidential press service has said.

Russia eyes education
Wednesday, 19th August, 2009

By Vision Reporter

THE Russian foreign minister has said his country wants to cooperate in developing the education, science and technology sectors in Uganda.

Sergey Lavrov was yesterday meeting President Yoweri Museveni currently on a working visit to Moscow.

Museveni and Lavrov discussed how to strengthen bilateral cooperation between the two countries, according to a release from State House.

Lovrov said Museveni’s visit would strengthen the ties between the former Soviet Union and East Africa in general.

He said he would encourage investors from the Russia to invest in Uganda and in East Africa through its regional economic blocs.

The minister said Uganda uses a lot of Russian equipment in different areas like agriculture and the army.

He encouraged the country to have direct contacts with Russia in order to avoid third parties. This, he said, would enable proper management, quality supplies and accountability.

Museveni said Uganda has some Russian investments in cotton and other agro-processing areas, but invited more Russians to invest in the country.

The President invited his Russian counterpart Dmitry Medvedev to visit Uganda.

The meeting was attended by the ministers of foreign affairs, Sam Kuteesa, energy and mineral development, Hilary Onek and of State for defence, Lt. Gen. Jeje Odongo.

Uganda’s team included the ambassador to Moscow, Dr. Moses Ebuk, his deputy Samuel Sekajja and the President’s principal private secretary, Amelia Kyambadde.

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