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Rosneft Asks Moscow For $42 Billion

Rosneft has asked the Russian government for as much as Rb1.5tn ($42bn) in support, in a clear sign of the growing cost of western sanctions against Moscow, the Financial Times reported. The Russian government will consider a request from Igor Sechin ...

Daily Headline - global.abi.org - 08/14/2014 - 21:14 - 0 comments

Russian Tour Operators Go Bankrupt on Sanctions Fallout

Two Russian travel operators declared bankruptcy as sanctions over Ukraine weaken the ruble and curb demand for foreign travel, particularly among state employees, Bloomberg News reported yesterday. Moscow-based Labirint suspended operations Aug. 2, whil ...

Daily Headline - abi_admin - 08/06/2014 - 13:28 - 0 comments

Russian Officials At Odds Over Mechel Bailout

The head of Russia's state development bank has ruled out taking part in a rescue of ailing miner Mechel, possibly making a rival government-promoted debt-for-equity deal involving creditors a more likely option to save the company, Reuters reported ...

Daily Headline - global.abi.org - 07/30/2014 - 22:06 - 0 comments

Russia Must Compensate Yukos Shareholders, European Court Rules

An international court ruled that Russia owes shareholders of the now-defunct oil giant Yukos more than $50 billion for what it described as the Kremlin's "devious and calculated expropriation" of assets designed to bankrupt the firm, Th ...

Daily Headline - global.abi.org - 07/28/2014 - 20:42 - 0 comments

Russian Reliance on Chinese Loans May Blunt the Impact of U.S. Sanctions

With the latest round of sanctions against Russia, the United States Treasury Department said it had “increased the cost of economic isolation for key Russian firms,” like the state oil company Rosneft and the banking arm of the natural gas giant Gazprom ...

Daily Headline - global.abi.org - 07/17/2014 - 21:24 - 0 comments

London Court Convenes RUSAL Creditors For Debt Restructuring

The London High Court is convening a meeting of creditors of Russia’s aluminum giant RUSAL to vote on a scheme of arrangement of restructuring the company’s $5.15 billion debt, RUSAL said in a statement on Friday. RUSAL, which is the world’s largest alum ...

Daily Headline - global.abi.org - 07/13/2014 - 23:13 - 0 comments

Russia's VTB Says No Plans To Provide Liquidity, Capital To Corpbank

Russian bank VTB's investment unit VTB Capital said it does not have any plans to provide liquidity or capital resources to Bulgaria's Corporate Commercial Bank (Corpbank), which was taken over by the country's central bank on Friday after ...

Daily Headline - global.abi.org - 06/24/2014 - 22:55 - 0 comments

Putin’s Singapore Dream Costs Crimea Banks and Burgers

President Vladimir Putin is trying to transform Crimea into the Singapore of the Black Sea. That effort so far has cost Russia’s newest republic its entire banking system and all three of its McDonald’s, Bloomberg News reported. After Putin annexed Crime ...

Daily Headline - global.abi.org - 05/22/2014 - 22:19 - 0 comments

Russian GDP Growth Slows as Investment Sags on Sanctions

the U.S. and its allies over Ukraine shrivels up investment. Gross domestic product advanced 0 ... first-quarter GDP. That was above the 0.7 percent median estimate of 19 economists in a Bloomberg survey. The Economy Ministry had projected that output expanded 0.8 percent. President Vladimir Putin’s move to absorb ...

Daily Headline - global.abi.org - 05/15/2014 - 19:40 - 0 comments

Sanctions Put Squeeze On Russia Loans

Russian companies are facing tougher lending restrictions from western banks as sanctions against the country start to bite. Banks are insisting that new loans to Russian businesses that are not directly targeted by sanctions carry clauses forcing immedi ...

Daily Headline - global.abi.org - 05/14/2014 - 21:03 - 0 comments

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