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☆ Kraft Heinz agrees to sell Russian baby food business
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 31 (Reuters) - Kraft Heinz (KHC.O) has agreed to sell its baby food business in Russia to local drinks and snacks maker Chernogolovka, the U.S. food giant said on Friday, as domestic firms continue to capitalise on the departure of Western brands. According to Chernogolovka, the deal will include two factories and the "Umnitsa" and "Sami s usami" brands. "We anticipate closing the deal in the second half of 2023 (Q3) and will continue working with Chernogolovka post-completion, to ensure a smooth integration," a Kraft Heinz spokesperson told Reuters. Neither Kraft Heinz nor Chernogolovka disclosed the price or mentioned any buyback clause. Russia's Kommersant newspaper reported on Thursday, citing sources, that Kraft Heinz estimates the deal's value at between 2.5 and 3 billion roubles ($32.4 to $38.9 million) but the government is yet to approve the valuation.

Summary Russia accuses detained U.S. journalist of spyingSays he was trying to gather state/military secretsWall Street Journal denies the allegationsMove latest blow to dire Russia-U.S. tiesLONDON, March 30 (Reuters) - Russia's FSB security service said on Thursday it had detained a reporter for U.S. newspaper The Wall Street Journal on suspicion of spying for Washington, the most serious public move against a foreign journalist since Russia invaded Ukraine. The Wall Street Journal said in a statement it was "deeply concerned" for Gershkovich's safety and that it "vehemently denies the allegations from the FSB and seeks the immediate release of our trusted and dedicated reporter". TOUGH CENSORSHIP LAWS[1/5] Reporter for U.S. newspaper The Wall Street Journal Evan Gershkovich appears in an undated handout image taken in an unknown location. Other foreign journalists covering Russia expressed support for Gershkovich online, saying he was a professional reporter, not a spy. Gershkovich, who has covered Russia since 2017, previously worked at The Moscow Times newspaper and at Agence-France Presse news agency before joining the Wall Street Journal's Moscow bureau in January last year.

☆ Kremlin tells officials to stop using iPhones - Kommersant newspaper
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, March 20 (Reuters) - Russia's presidential administration has told officials to stop using Apple (AAPL.O) iPhones because of concerns the devices are vulnerable to Western intelligence agencies, the Kommersant newspaper reported on Monday. At a Kremlin-organised seminar for officials involved in domestic politics, Sergei Kiriyenko, first deputy head of the presidential administration, told officials to change their phones by April 1, Kommersant said, citing unidentified sources. The Kremlin may provide other devices with different operating systems to replace the iPhones, Kommersant said. Kremlin spokesman Dmitry Peskov said he could not confirm the report, but that smartphones could not be used for official purposes anyway. President Vladimir Putin has always said he has no smartphone, though Peskov has said Putin does use the Internet from time to time.

☆ The Kremlin has reportedly told Russian officials to throw away their iPhones by the end of the month
▼ + stars: | 2023-03-20 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Some Russian officials were advised to ditch their iPhones, Russian newspaper Kommersant reported. Officials close to the presidential administration were reportedly told to get new phones by April. Sergei Kiriyenko, first deputy head of Russia's presidential administration, reportedly told the officials they had to replace their iPhones by April 1. The reported instruction comes amid undergoing campaign preparations for the upcoming 2024 Russian presidential election. Although those within the Russian presidential administration were reportedly told to get rid of their Apple iPhones, it's unclear whether all Russian government officials were advised to do so.

☆ At a high-stakes meeting in Moscow, China has to decide whether Putin's failure in Ukraine means it's time to cross a red line
▼ + stars: | 2023-03-20 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Some analysts believe China is poised to escalate its support for Russian in Ukraine. China's Xi Jinping at a welcoming ceremony at Moscow's Vnukovo airport on March 20, 2023. China has sought to portray the war in Ukraine as a result of Western meddling, citing the massive influx of Western weaponry to Ukraine's armed forces. But China may now be preparing so cross the same line and offer weapons of its own to Putin's Russia. If that dynamic continues, Ward said China may decide to risk the wrath of the West and openly provide lethal aid.

☆ Factbox: The battle over Russia's crude and oil products
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +4 min

MOSCOW, March 15 (Reuters) - In attempt to curb Russia's oil revenues, Western countries imposed sweeping sanctions against Russian crude oil and oil products. Below are the sanctions so far imposed, their impact and Russia's response:CRUDE OIL- The G7, the European Union and Australia stopped buying all Russian crude oil delivered by sea - or 2/3 of all EU imports of Russian crude - from Dec. 5. - Russian President Vladimir Putin signed a decree banning the supply of crude oil and oil products from Feb. 1 to nations that abide by the cap. - Russia's crude oil loadings from its Baltic ports of Primorsk and Ust-Luga and the Black Sea port of Novorossiisk were some 10% below the target for February. - In February the EU released from sanctions oil products which are produced from Russian oil outside the country and canceled the price cap for those oil products which are mixed with those from other countries.

☆ Oil settled up as rising supplies face Chinese demand hopes
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: +3 min

Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts. Oil prices settled up slightly on Wednesday as signs of ample supply, including growing U.S. crude inventories, offset growing hopes for higher demand after a jump in manufacturing in top crude importer China. Brent crude futures settled up 86 cents, or 1%, to $84.31 a barrel. In other signs of ample supply, Russia's oil production reached the pre-sanctions level for the first time in February, the Kommersant business daily reported. An official index showed China's manufacturing activity expanded in February at the fastest pace in more than a decade, feeding hopes for a boost in oil demand.

☆ How China is helping to prop up the Russian economy through the war in Ukraine
▼ + stars: | 2023-02-22 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China has been buying more energy from Russia since the Ukraine war started. Total trade between China and Russia hit a new record high in 2022, up 30% to $190 billion, according to Chinese customs figures. In particular, the energy trade has risen markedly since the onset of the war. Russian companies have been using more yuan to facilitate the increased trade with China. UnionPay, the Chinese payments system, has reportedly stopped accepting cards issued by Russian banks over fears of international sanctions, according to Russian paper Kommersant.

☆ China's top diplomat due in Moscow for talks on Ukraine - source
▼ + stars: | 2023-02-20 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +2 min

Summary Wang due in MoscowChina preparing Ukraine settlement proposalBlinken warns ChinaWang scolds "hysterical" United StatesMOSCOW, Feb 20 (Reuters) - China's top diplomat, Wang Yi, is due in Moscow shortly for talks on a possible peace settlement for Ukraine, a diplomatic source with knowledge of the matter said. China's foreign ministry declined immediate comment as did Russia's foreign ministry. China's parliament chief told his Russian counterpart last year that Russian action against Ukraine is a legitimate response to U.S. provocation. U.S. Secretary of State Antony Blinken on Saturday warned Wang of consequences should China provide material support to Russia's invasion of Ukraine, adding that Washington was concerned Beijing was considering supplying weapons to Moscow. China's Xi will deliver a "peace speech" on the anniversary of the invasion of Ukraine, Italy's foreign minister said on Friday.

☆ Russia may switch to Brent-based oil taxes - Kommersant
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

Feb 3 (Reuters) - Russia may switch to taxing oil producers based on Brent crude prices rather than the currently used Urals benchmark, after Western sanctions drove down the price of the latter, the Kommersant daily said on Friday, citing sources. After the G7 grouping introduced a price ceiling on Russian oil, the gap between Urals, the traditional Russian crude benchmark, and Brent has widened to up to $40 per barrel, the paper said. To avoid excessive damage to budget revenue from lowering oil taxes, President Vladimir Putin last month ordered the government to draft proposals on adjusting the tax framework, and switching to a Brent-based model featuring discounts and freight costs calculated monthly is the key idea so far, the daily cited anonymous sources as saying. The move is certain to increase the tax burden on the sector and may prompt companies to start cutting output, it added. Reporting by Reuters; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Russia approves Veon's sale of Vimpelcom to management -RBC, citing sources
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - A Russian government commission has approved the sale of telecoms company Vimpelcom to senior managers by its Dutch owner Veon (VON.AS), the Russian economic news outlet RBC reported, citing two unnamed sources. The disposal is notable in that Veon, unlike many Western investors, is receiving money for its asset - one that accounts for about half of Veon's revenue. RBC reported that the deal had been amended to ensure all bondholders were treated equally. Veon declined to comment and no comment was immediately available from Vimpelcom or the Russian digital ministry. Writing by Kevin Liffey Editing by Barbara Lewis and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ As Ukraine war drags on, Russian lawmakers told to compare it to the bloody (but ultimately victorious) WWII Battle of Stalingrad
▼ + stars: | 2023-02-01 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +2 min

Russia's largest party told members to compare the Ukraine war with World War II's biggest battle. Politicians were told to talk about the Battle of Stalingrad, which turned the tide against Nazi Germany. Russia's war in Ukraine is dragging on and sees no end in sight, with casualties mounting. The Battle of Stalingrad was one of the biggest battles in World War II, helping to stop Nazi forces from advancing into the Soviet Union. Up to two million people died in and around Stalingrad, according to news agency AFP.

Potanin is estimated to be Russia's richest or second richest person thanks to his stake in metals giant Nornickel (GMKN.MM). Maksut Shadaev, the head of Russia's ministry of digital affairs, told parliament in December that around 100,000 IT specialists had left Russia in 2022. Other hawkish politicians have advocated hitting remote workers and emigres with higher taxes and stripping them of their passports and Russian assets. Potanin said Moscow badly needs remote workers including computer programmers to help its battered economy recover. "No-one is convinced these measures will work," said the doctor, who declined to be named for fear of reprisals.

☆ Rich Russians can't easily travel overseas after Putin's invasion, so they're going on cruises at home instead
▼ + stars: | 2023-01-08 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Russia's cruise industry enjoyed "serious growth" in 2022, a lawmaker told the news agency TASS. Many Russians went on cruises for the first time because they couldn't travel overseas. Konstantin Puchkov of the online travel marketplace Cruise House told Insider that river cruises had been particularly popular. The added burdens of international travel mean that Russia's domestic cruises are now attracting wealthier customers — including those who've previously vacationed overseas. Russian tourists can still technically enter Europe through third countries, such as Turkey, but that makes journeys more expensive and time-consuming.

☆ Oil prices rise over $2 on drawdown in U.S. crude stocks
▼ + stars: | 2022-12-21 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Brent crude futures for February delivery were up by $2.23, or 2.8%, at $82.22 a barrel by 12:20 p.m. U.S. West Texas Intermediate (WTI) crude futures gained $2.03, or 2.7%, to $78.26. U.S. crude inventories fell by 5.89 million barrels, according to data from the U.S. Energy Information Administration (EIA), compared with estimates for a drop of 1.66 million barrels. Distillate inventories fell by 242,000 barrels, according to EIA data, compared with analyst estimates for a build of 336,000 barrels. Overall, Russian oil exports fell by 11% month on month for Dec. 1-20 after the European Union's embargo on Russian oil came into force, the Kommersant daily reported.

Brent crude futures were up 93 cents, or 1.15%, at $80.92 a barrel by 1040 GMT. U.S. crude inventories fell by about 3.1 million barrels in the week to Dec. 16, said market sources, citing data from the American Petroleum Institute. Worries about surging COVID-19 cases in China as the country begins dismantling its zero-COVID policy kept oil prices from moving higher. Overall, Russian oil exports fell by 11% month on month for Dec. 1-20 after the European Union's embargo on Russian oil came into force, the Kommersant daily reported. Reporting by Shadia Nasralla and Dmitry Zhdannikov; Additional reporting by Isabel Kua in Singapore Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Rouble slumps to weakest vs dollar since May
▼ + stars: | 2022-12-21 | by ( Alexander Marrow | ) www.reuters.com time to read: +3 min

By 0939 GMT, the rouble was down 2.5% against the dollar at 70.60 , after hitting 70.7550 earlier. The rouble has already lost more than 8% this week against the dollar and around 12% since a cap on Russian oil prices came into force. FALLING REVENUESThe rouble has been catching up with the weakening of Russia's balance of payments, said Rachel Ziemba, founder of Ziemba Insights. "In recent months, Russian export revenues have fallen as it sharply reduced gas exports and the EU oil embargo is limiting oil revenues." The rouble-based MOEX Russian index (.IMOEX) was 0.6% higher at 2,131.8 points, rebounding from a near eight-week low hit in the previous session.

☆ Rouble slumps past 70 vs dollar for first time since May
▼ + stars: | 2022-12-21 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

By 0713 GMT, the rouble was down 2.1% against the dollar at 70.31 , after hitting 70.6775 earlier. The rouble has been catching up with the weakening of Russia's balance of payments, said Rachel Ziemba, founder of Ziemba Insights. BCS World of Investments said the rouble continuing to plunge would likely also see the RTS index fall. The dollar-denominated RTS index (.IRTS) was down 1.3% to 654.6 points, flirting with more than two-month lows. The rouble-based MOEX Russian index (.IMOEX) was 0.5% higher at 2,130.6 points, rebounding from a near eight-week low hit in the previous session.

Dec 6 (Reuters) - Russia's January-November oil and gas condensate rose 2.2% from a year earlier to 488 million tonnes, the Interfax news agency said on Tuesday, citing Deputy Prime Minister Alexander Novak. The Group of Seven nations, Australia and the 27 EU states have also introduced a $60 per barrel price cap on Russian oil. Russia's oil and gas condensate output from January to November averaged 10.91 million barrels per day, according to Reuters calculations. Company sources told Reuters that Russian oil output could fall by 500,000 to 1 million barrels per day early in 2023 after the EU ban. The Kommersant daily citing sources on Tuesday reported Russia's November output averaged 1.486 million tonnes (10.89 million barrels) per day, up 2% from October.

☆ Gazprom to preserve Nord Stream gas-pumping equipment - Kommersant
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Nord Stream is seen at the headquarters of Nord Stream AG in Zug, Switzerland March 1, 2022. REUTERS/Arnd Wiegmann/File PhotoNov 28 (Reuters) - Russia's Gazprom (GAZP.MM) plans to preserve gas pumping equipment at the Portovaya and Slavyanskaya compressor stations that supply the Nord Stream 1 and Nord Stream 2 pipelines, the Kommersant newspaper reported on Monday, citing sources. According to Kommersant, Gazprom plans to keep the equipment at the stations and not move it to other sites. Neither of the Nord Stream pipelines, laid on the bed of the Baltic Sea from Russia to Germany, are currently transporting gas. Nord Stream 1 was shut down for repairs on Aug. 31 and never restarted, while Nord Stream 2 was never launched after Russia's invasion of Ukraine.

☆ Russia's justice ministry adds Meta to 'extremist' list - Kommersant
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: 1 min

Nov 25 (Reuters) - Russia's justice ministry added Facebook-owner Meta Platforms (META.O) to its register of extremist organisations on Friday, the Kommersant newspaper reported. A Russian court earlier this year ruled Meta had engaged in "extremist activity". Moscow has restricted access to Facebook and Instagram as part of a campaign against Western social media platforms. Reporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Poland seeking German support to sanction Russian Druzhba oil pipeline
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +3 min

The EU has pledged to stop buying Russian oil via maritime routes from Dec. 5 but Druzhba is currently exempt from sanctions. The southern section of the pipeline supplies Hungary, Slovakia and the Czech Republic which, unlike Poland and Germany, would struggle to diversify their oil imports. Poland and Germany promised in spring to try to end Russian oil imports via Druzhba's northern leg by the end of year but Orlen remains tied to its contract with Russian oil and gas company Tatneft. The company has already cut its reliance on Russian oil to 30% of its requirement, replacing it with deliveries from Saudi Arabia and Norway among others. Kommersant newspaper reported earlier this month that Orlen had submitted an application to the Russian oil pipeline operator Transneft for the supply of 3 million tonnes of oil to Poland through Druzhba in 2023.

It cited an unidentified source as saying that Sergei Naryshkin, head of Russia's SVR foreign intelligence service, would attend the talks. The White House official said Burns, a former U.S. ambassador to Russia, was not conducting negotiations of any kind with Naryshkin. Ukraine was briefed in advance about Burns's trip to Turkey, the official said. Burns is not discussing a settlement of the war in Ukraine but is conveying a message on the consequences of the use of nuclear weapons by Russia, the official added. Reporting by Reuters; Additional reporting by Jonathan Spicer in Turkey; Editing by Kevin Liffey and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

☆ CIA chief in Ankara meeting with Russian counterpart, U.S. official says
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 14 (Reuters) - U.S. Central Intelligence Agency Director William Burns is in Ankara to speak with his Russian intelligence counterpart to convey a message on consequences of any use of nuclear weapons by Russia, a White House official said on Monday. He is not discussing settlement of the war in Ukraine," said the official, speaking on the condition of anonymity, adding that Burns will also raise the cases of detained Americans in Russia. It cited an unidentified source as saying that Sergei Naryshkin, head of Russia's SVR foreign intelligence service, would attend the talks. Ties between Washington and Moscow have fallen to their worst in decades since Russia launched its invasion of Ukraine in February. Threats by Russian President Vladimir Putin to use nuclear weapons in Ukraine war have fueled worries about escalation.

☆ Russia, U.S. discuss first nuclear talks since Ukraine conflict -Kommersant
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

MOSCOW, Nov 8 (Reuters) - Russia and the United States are discussing holding talks on strategic nuclear weapons for the first time since Moscow sent troops into Ukraine, Russian newspaper Kommersant said on Tuesday, citing four sources familiar with the discussions. Talks between the two sides on strategic stability have been frozen since Russia began its military campaign in Ukraine on Feb. 24, even as the New START treaty on nuclear arms reduction stays in effect. The talks may take place in the Middle East, the paper said, adding that Moscow no longer saw Switzerland, the traditional venue, as sufficiently neutral after it imposed sanctions on Russia over Ukraine. Reporting by Reuters; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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