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☆ The cofounder of venture capital firm Target Global left after his Russian oligarch father was sanctioned
▼ + stars: | 2022-12-12 | by ( Shona Ghosh | ) www.businessinsider.com time to read: +3 min

Alexander Frolov, the son of a sanctioned Russian oligarch, has left his tech investment firm. The UK sanctioned Alexander Frolov Senior on November 2. Alexander Frolov, the son of a sanctioned Russian oligarch, has left the venture capital firm he cofounded and ran, Target Global, amid ongoing concerns about Russian money flowing into European tech startups. The move was first reported by German publication FinanceFwd and was confirmed to Insider Monday by a spokesman for Target Global. The UK sanctioned Russian oligarch Alexander Frolov, formerly CEO of steel-mining firm Evraz, in November 2022.

☆ Paul Whelan's continued detention in Russia a 'catastrophe,' family says
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Former U.S. Marine Paul Whelan stands inside a defendants' cage during his verdict hearing in Moscow, Russia June 15, 2020. And while we have not yet succeeded in securing Paul's release, we are not giving up. Paul Whelan, a former U.S. Marine, is serving 16 years in the Russian region of Mordovia on charges of espionage, which he denies. "So a basketball star is released, we can celebrate, but what about Paul Whelan? "We'll keep negotiating in good faith for Paul's release.

US WNBA basketball superstar Brittney Griner arrives to a hearing at the Khimki Court, outside Moscow on June 27, 2022. Kirill Kudryavtsev | AFP | Getty ImagesWNBA star Brittney Griner is free Thursday after the Biden administration negotiated her release from a Russian penal colony in exchange for an arms dealer, according to a senior administration official. Maxim Shemetov | ReutersGriner will be flown to a medical facility in San Antonio where she will receive care, a senior administration official said. Cherelle Griner, will meet her there, according to a senior administration official. People familiar with the negotiations for his release say the Russians refused to release Whelan without getting a Russian spy in return.

☆ Russia sees drop in cross-border payments using dollars, euros
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] Cars are parked in front of Russia's Central Bank headquarters in Moscow, Russia March 29, 2021. Russia is seeking to reduce transactions with what it terms "toxic" currencies - those of countries that have imposed sanctions on Russia, in particular the dollar and euro. Use of China's yuan by Russian companies increased dramatically since Feb. 24, when Russia sent thousands of troops into Ukraine. Russians have bought 139.6 billion roubles ($2.28 billion)worth of Chinese yuan so far this year, the central bank estimated. "The challenge for Russian banks is the limited scope of opportunities in interest-bearing yuan investments," it said.

☆ Retailers acclerate shift to forest friendly fibres at COP27
▼ + stars: | 2022-11-14 | by ( Virginia Furness | ) www.reuters.com time to read: +2 min

REUTERS/Maxim ShemetovLONDON, Nov 14 (Reuters) - Retailers including H&M (HMb.ST), Kering <PRTP.PA and Inditex (ITX.MC) will purchase over half a million tonnes of low-carbon alternative fibres for clothing and packaging to help reduce global emissions, they said Monday. The announcement by 30 retailers coincides with COP27 climate talks taking place in Egypt until the end of this week to seek to step up ambition on curbing global warming. Retailers agreed to purchase 550,000 tonnes of alternative fibres - made from waste textiles and agricultural residues instead of forest fibres - which will prevent the release of around 2.2 million tonnes of greenhouse gas emissions, NGO Canopy, which convened the group, said. Lower carbon fibres make up a tiny fraction of the 7.5 million tonnes of man-made fibres produced each year, which Rycroft said was in part because of the challenge of accessing finance to scale new technologies. The agreement will help to unlock finance for 10-20 low footprint pulp mills to produce these alternative fibres by securing offtake aggrements from retailers, Canopy said.

☆ Russian fighter jets can't control the air over Ukraine, and Russia's attack helicopters are paying for it
▼ + stars: | 2022-11-13 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +7 min

The toll has been especially high for Russia's Ka-52, one of its newest attack helicopters. Because it's been the most active, the Ka-52 also appears to be taking the most losses of Russia's helicopters. The AlligatorA Russian Ka-52 helicopter at the Dubai Airshow in November 2021. A wrecked Russian Ka-52 helicopter at Hostomel Airport near Kyiv in July. Russia's helicopters have changed tactics in response to Ukraine's successful use of shoulder-fired missiles and other air-defense systems, but Russian forces still need close air support.

☆ Russia's Sberbank sues Glencore for $116 mln over oil supplies
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Russia's largest lender Sberbank in Moscow, Russia, December 24, 2020. The database showed Sberbank was seeking to recover debt and penalties from Glencore Energy UK Ltd over two agreements, worth roughly 58 million euros each. One related to oil blend supplies to the border of Ukraine and Hungary in March, and the other to supplies to the border of Ukraine and Slovakia in the same month. Russia sent its troops into Ukraine on Feb. 24 for what it calls a "special military operation". ($1 = 1.0073 euros)Reporting by Oksana Kobzeva Writing by Vladimir Soldatkin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

[1/3] A helmet with logo of Saudi Aramco is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/FilesRIYADH, Oct 26 (Reuters) - Oil giant Saudi Aramco launched a $1.5 billion fund to support an inclusive global energy transition on Wednesday while Saudi officials said the switch from hydrocarbons could take decades, necessitating continued investment in conventional resources. What we need is an optimal, realistic transition plan," Aramco CEO Amin Nasser told a business forum, where he announced the new fund managed by Aramco Ventures. Saudi Finance Minister Mohammed al-Jadaan told the FII gathering that thinking around the global energy transition has "now became more realistic that actually transition will take... possibly 30 years", and that conventional resources remained important to ensure security of supply. Saudi sovereign wealth fund the Public Investment Fund (PIF) has established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman, PIF said on Wednesday, following a similar move for an investment subsidiary in Egypt.

☆ Russia says outgoing PM Truss was a 'catastrophically illiterate' disgrace
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Russia's Foreign Ministry spokeswoman Maria Zakharova speaks during a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Maxim ShemetovOct 20 (Reuters) - Russia's foreign ministry on Thursday welcomed the departure of British Prime Minister Liz Truss, saying she was a disgrace of a leader who would be remembered for her "catastrophic illiteracy". "Britain has never known such a disgrace of a prime minister," Foreign Ministry spokeswoman Maria Zakharova said in a social media post. Foreign ministry spokeswoman Zakharova's reference to illiteracy appears to refer to that trip, when Truss was British foreign minister. In a meeting with Russia's veteran foreign minister, Sergei Lavrov, she appeared to confuse two regions of Russia with Ukraine, drawing mockery in Russian media.

☆ Gazprom CEO says big part of Nord Stream may need to be replaced
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File PhotoMOSCOW, Oct 14 (Reuters) - Gazprom CEO (GAZP.MM) Alexei Miller told Russia's State TV Channel One late on Thursday that a big section of the damaged Nord Stream pipelines might need to be replaced, while Russia plans boosting gas exports via the Black Sea and Turkey. Both Nord Stream 1 and Nord Stream 2 gas pipelines, which were built to transport gas from Russia to Germany via the bed of the Baltic Sea, were damaged last month, spewing out a large amount of gas. On Wednesday, Miller, head of the Russian state-controlled natural gas monopoly, said repairs to the damaged Nord Stream pipelines would take more than one year. TURKEY HUBRussian President Vladimir Putin touted Turkey earlier this week as the best route for redirecting gas supplies to the European Union after Nord Stream pipeline leaks.

☆ Putin moots major gas hub in Turkey with Nord Stream supplies
▼ + stars: | 2022-10-12 | by ( Vladimir Soldatkin | ) www.reuters.com time to read: +4 min

The logo of the Nord Stream 2 gas pipeline project is seen on a large diameter pipe at Chelyabinsk Pipe Rolling Plant owned by ChelPipe Group in Chelyabinsk, Russia February 26, 2020. An investigation is underway into explosions last month that ruptured the Russian-built Nord Stream 1 and Nord Stream 2 pipelines on the bed of the Baltic Sea. Putin said it was possible to repair the pipelines but that Russia and Europe should decide their fate. OIL PRODUCTIONThree of the Nord Stream pipelines are damaged. That leaves only one line of Nord Stream 2, which has an annual capacity of 27.5 billion cubic metres, functional.

☆ German police investigating Russian billionaire Usmanov search yacht
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Russian billionaire Alisher Usmanov walks out of a voting booth at a polling station during the presidential election in Moscow, Russia March 18, 2018. REUTERS/Maxim ShemetovBERLIN, Sept 27 (Reuters) - German police investigating money laundering accusations against Russian billionaire businessman Alisher Usmanov have searched a motor yacht in northern Germany, prosecutors said on Tuesday. Prosecutors did not identify the yacht or its owner but described him as a 69-year-old Russian businessman and said he was the target of the same investigation as last week, when police raided a lakeside villa registered to Usmanov. Usmanov's representatives were not immediately available to comment on Tuesday's yacht raid. The federal criminal police office has said it is worth half a billion euros.

☆ Russia's Medvedev raises spectre of nuclear strike on Ukraine
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim ShemetovSept 27 (Reuters) - One of President Vladimir Putin's allies on Tuesday explicitly raised the spectre of a nuclear strike on Ukraine, saying that the U.S.-led military alliance would still stay out of the conflict for fear of a nuclear apocalypse. According to Russia's nuclear doctrine, the president may use nuclear weapons if the state faces an existential threat, including from conventional weapons. Around 90% of the world's nuclear warheads are held by Russia and the United States, who remain by far the world's biggest nuclear powers. Russia has the right to use nuclear weapons if necessary," Medvedev said, adding that it would do so "in predetermined cases" and in strict compliance with state policy. Medvedev, who cast himself as a liberalising president from 2008-2012, has regularly issued hawkish statements about the war in Ukraine.

☆ Orthodox Church leader says Russian soldiers dying in Ukraine will be cleansed of sin
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Patriarch Kirill of Moscow and All Russia conducts the Orthodox Christmas service at the Cathedral of Christ the Saviour in Moscow, Russia, January 6, 2022. REUTERS/Maxim ShemetovSept 26 (Reuters) - The head of the Russian Orthodox Church has said that Russian soldiers who die in the war against Ukraine will be cleansed of all their sins, days after President Vladimir Putin ordered the country's first mobilisation since World War Two. "Many are dying on the fields of internecine warfare," Kirill, 75, said in his first Sunday address since the mobilisation order. Kirill's support for the war in Ukraine has deepened a rift between the Russian branch of the Orthodox Church and other wings of Orthodoxy around the world. Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters; Editing by Mark TrevelyanOur Standards: The Thomson Reuters Trust Principles.

Diamonds are pictured during an official presentation by diamond producer Alrosa in Moscow, Russia Ferbuary 13, 2019. Poland, Ireland, Lithuania, Estonia and Latvia proposed introducing a retaliatory ban on imports of diamonds from Russia, where Alrosa (ALRS.MM) is the world's largest producer of rough gems. Belgium's foreign ministry and the diplomatic representation to the EU did not respond to requests for comment. An EU official and a diplomat involved in preparations of new measures against Russia said, however, that Belgium was now expected to lift its veto. Register now for FREE unlimited access to Reuters.com RegisterWriting by Gabriela Baczynska; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Russian airlines staff start to receive conscription notices -Kommersant
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File PhotoSept 23 (Reuters) - Russian employees at airlines and airports have started to receive conscription notices after President Vladimir Putin ordered a partial military mobilisation, the Kommersant newspaper reported on Friday citing sources. Employees of at least five airlines, including Russian top carrier Aeroflot (AFLT.MM), and staff at more than 10 airports received notices within a day of Putin ordering the mobilisation, the paper reported. Most pilots in airlines are reserve officers trained in military departments of flight schools, or privates who have completed military service. All Russian men are required to do a year's military service between the ages of 18 and 27, although university students may instead receive instruction from a military faculty alongside their chosen studies. Register now for FREE unlimited access to Reuters.com RegisterReporting by Anna Pruchnicka; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Russia modifies Kalashnikov weapon to speed up firing - RIA
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

A board with the logo of Russian arms manufacturer Kalashnikov is on display in an office in Moscow, Russia February 8, 2021. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.com RegisterSept 21 (Reuters) - Russia has modified the Kalashnikov AK-12 weapon its forces use in Ukraine to speed up firing and give soldiers more control over firing modes, RIA state news agency reported early on Wednesday, citing the weapon maker's president. Register now for FREE unlimited access to Reuters.com RegisterHe did not say when the modernised weapon will enter service, saying only that it is in the design documentation stage. The AK-12 assault rifle developed by Kalashnikov, the general issue weapon of the Russian armed forces, has a caliber of 5.45 millimetres (mm) and an improved accuracy over its earlier versions, among others. The Kalashnikov arms maker was sanctioned by the United States in 2014, the year Russia invaded and annexed the Ukrainian peninsula of Crimea.

☆ Russia calls up 300,000 reservists, says 6,000 soldiers killed in Ukraine
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File PhotoSummary Defence Minister Shoigu says 300,000 reservists to be draftedShoigu says 5,397 Russian soldiers died so farMobilisation necessary to "consolidate" seized territoriesLONDON, Sept 21 (Reuters) - Russia will draft 300,000 reservists to support its military campaign in Ukraine, Defence Minister Sergei Shoigu said on Wednesday in televised remarks. In Moscow's first update on casualty numbers in almost six months, Shoigu said 5,397 Russian soldiers had been killed since the start of the conflict. It was the first time Russia had given an official death toll since March 25, when it said 1,351 servicemen had died. The decree published on the Kremlin's website said the call-up would apply only to reservists with previous military experience. Shoigu said the mobilisation would help Russia "consolidate" territories it holds behind a 1,000-km (600-mile) frontline in Ukraine.

☆ No catastrophe, but sanctions on Moscow are working, says Russian economy veteran
▼ + stars: | 2022-09-20 | by ( Darya Korsunskaya | ) www.reuters.com time to read: +4 min

Former First Deputy Chairman of the Central Bank of Russia Oleg Vyugin leaves the bank headquarters in Moscow, Russia February 8, 2018. "If there were no sanctions, the Russian economy could have grown 6% this year," Vyugin, who served as deputy finance minister and deputy central bank governor during his career before he retired from a Moscow Exchange post this year, told Reuters in an interview. Russian officials have been at pains to praise Russia's economic strength in the face of sanctions. Meanwhile, China is reaping the rewards of cheaper energy supplies from Russia, as Moscow looks east in search of alternative markets. read moreVyugin expects some sanctions impact to be felt with a delay, namely in the technology sector, where the reliance on imports is high.

☆ U.S. expects more banks will cut off Russian payment system Mir -senior official
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

People walk past the logo of Russian payment system Mir at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File PhotoWASHINGTON, Sept 20 (Reuters) - Steps that Turkish lenders Isbank and Denizbank took to suspend the use of Russian payment system Mir make a lot of sense, a senior U.S. administration official said on Tuesday, and said the United States expects more banks will cut off Mir over sanctions risk. "We expect more banks to cut off Mir because they don’t want to risk being on the wrong side of the coalition’s sanctions." Washington and its allies have imposed several rafts of sanctions targeting Moscow following Russia's Feb. 24 invasion of Ukraine, including targeting Russian banks and President Vladimir Putin. NATO member Turkey opposes Western sanctions on Russia on principle and has close ties with both Moscow and Kyiv, its Black Sea neighbors.

☆ Medvedev says Moscow-backed separatists must hold referendums to join Russia
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File PhotoSept 20 (Reuters) - Former Russian President Dmitry Medvedev said on Tuesday that it is "essential" for Russian-backed separatists in Ukraine to carry out referendums that would see their regions join Russia. On Monday, separatist leaders in the DPR and LPR agreed to "synchronise" efforts to stage referendums on joining Russia after local Russian-appointed officials stepped up their calls to hold the votes. "Encroachment onto the territory of Russia is a crime which allows you to use all self-defence forces," Medvedev said. Russia's proxies in the Donbas have been talking about joining Russia since they first tried to break away from Kyiv's control in 2014. Large swathes of the territory claimed by the DPR are still under Ukraine's control and Ukraine still holds territory in both Kherson and Zaporizhzhia regions.

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