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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

Russian Firms Turn To Asia For Finance As Western Funds Demur

Russian companies shut out of Western markets as a result of the Ukraine crisis are scouting the possibility of raising cash via Chinese or Singapore bonds instead, even if a large scale funding switch to Asia is likely to be a tall order, Reuters report ...

Daily Headline - global.abi.org - 05/05/2014 - 22:54 - 0 comments

Russia Raises Rate to Bolster Economy After S.&P. Cuts Its Debt Rating

With tensions over Ukraine continuing to mount, Russia is scrambling to stem the economic fallout, as its central bank unexpectedly raised a crucial interest rate on Friday, the International New York Times reported. The move is intended to help halt ...

Daily Headline - global.abi.org - 04/27/2014 - 22:35 - 0 comments

Country Reports Winter 2013/14 - RUSSIA - Changing the 'rules of the game'?

The State Duma of the Russian Federation has adopted amendments to the Law on Bankruptcy in part determining material liability of persons, controlling the actions of the debtor, of the debtor’s management and members of the liquidation commission, whose ...

Resource Article - twallace@abiwor... - 04/28/2014 - 09:46 - 0 comments - 1 attachment

Why Putin Isn’t Scared by $115 Billion of Debt: Russia Credit

Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even as bond markets shut because of the Ukraine crisis, according to Moody’s Investors Service and Fitch Ratings. Firms will have about $100 billion in cash ...

Daily Headline - global.abi.org - 04/21/2014 - 22:21 - 0 comments

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