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☆ Skepticism, a ticking clock: What Trump's picks mean for Ukraine
▼ + stars: | 2024-11-14 | by ( Thibault Spirlet | Hannah Abraham | ) www.businessinsider.com time to read: +5 min

AdvertisementDonald Trump's cabinet choices suggest a skeptical direction of travel on Ukraine policy. Advertisement'Losing your allowance'The comments suggest that Trump would find little opposition if he moved to cut US aid to Ukraine. Ukraine's president, Volodymyr Zelenskyy, has said that US aid being cut would lead to Ukraine losing the war. Trump's son, Don Jr. — an influential figure albeit with no official role — seemed to relish the idea of Ukraine losing its funding. Trump's callIt remains to be seen how influential any of Trump's picks would be in shaping policy.

Persons: Donald Trump's, Trump, Donald Trump, hasn't, Ukraine —, Marco Rubio, Joe Biden's, Trump's, Vladimir Putin, Pete Hegseth, Shawn Ryan, Putin, Alfons Cabrera, Mike Waltz, Biden, Tulsi Gabbard, Volodymyr Zelenskyy, Don Jr, —, Alexander Libman, Mark Cancian, Mylovanov Organizations: Ukraine, State, Defense, NBC News, Pentagon, Fox News, Getty, National Intelligence, Free University of Berlin, Marine Corps, Kyiv School of Economics, Economist Locations: Ukraine, Kyiv, America, Russia, Florida, Afghanistan, Iraq, Polish, Ukrainian, Russian, Kramatorsk, Donetsk Region, Europe

CNN —Since September 1, the Ukrainian capital Kyiv has been spared from Russian drone attacks on just one night – October 14. On Saturday night, Ukrainian air defenses detected a record 145 incoming Shahed drones. “We have been doing this for over two years,” he said, but the intensity of drone attacks had peaked over the past two to three months. The drone attacks seem calculated to instil fear rather than cause mass casualties, but several people have been killed in recent weeks. Russian forces already occupy almost all of Luhansk and substantial parts of Donetsk, Zaporizhzhia and Kherson – altogether some 20% of Ukraine.

Persons: Viktoria Kovalchuk, Teo, ” Kovalchuk, Victoria Kovalchuk, Kovalchuk, Maksym, ”, Bridges, Konstantin Usov, don’t, Usov, Yuriy Chumak, Chumak, “, Mariya Troyanivska, Oleksander Syrskyi, Genya Savilov, Konrad Muzyka, Muzyka, Syrskyi, ” Muzyka, Lloyd Austin, Stringer, Reuters Rym, Montaz, Richard Haass, ” Haas, Andrii Sybiha, Donald Trump’s, Trump, JD Vance, Volodymyr Zelensky, hasn’t Organizations: CNN, Ukraine’s, Kyiv International Institute of Sociology, 43 Artillery Brigade, Getty, Rochan Consulting, US, Reuters, Carnegie Endowment, International, Kyiv, Russian, Foreign Affairs, Kherson –, NATO Locations: Ukrainian, Kyiv, Ukraine, Europe, Kharkiv, Zaporizhzhia, Russian, Donetsk, Dnipro, Pokrovsk, AFP, Kursk, Russia, Toretsk, Washington, Luhansk, Kherson, “, Moscow

☆ Putin is embarking on an aggressive hiring drive to rejuvenate Russia's army. But he can't sustain it, experts say.
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

On Monday, Putin ordered the army to increase its troops by 180,000, per a decree published by the Kremlin. This will raise the overall number of Russian military personnel to 2.38 million people, with 1.5 million of them being active soldiers. AdvertisementThe gear coming off the production line "will still be substantial," Reynolds told BI in an interview on Wednesday. Russia has "adapted much better than predicted to some of the pressures it's been put under," Reynolds told BI. Other experts BI spoke to said that while Putin might still be able to grow Russia's army, it may only add more strain to the already-stretched Russian labor force.

Persons: —, Vladimir Putin, Putin, Nick Reynolds, Reynolds, That's, It's, it's, Artem Kochev, Kochev, Benjamin Hilgenstock, Jeremy Morris Organizations: Service, Kremlin, Business, International Institute for Strategic Studies, Royal United Services Institute, Vienna Institute for International Economic Studies, Kommersant, Kyiv School of Economics Institute, Bloomberg, Russian Armed Forces, Aarhus University Locations: Russia, China, India, Ukraine, Moscow

☆ She grew up in Ukraine, studied accounting, and joined the army. But since Russia invaded, she did a hard career pivot — twice.
▼ + stars: | 2024-08-12 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +7 min

Kuzmina, 32, is training to be an electrician in Kamianske, a city in eastern Ukraine. Because of worker shortages in fields like driving, mechanical work, and road work, the Ukrainian government launched a program that provides women with training vouchers. But Ukrainian women must still contend with employers and even family members who aren't always on board with more women taking traditionally male jobs. But soon after Russia invaded Ukraine in February 2022, Kuzmina's commander disbanded the unit because of a lack of resources. Ukrainian President Volodymyr Zelenskyy said last month that Russia had damaged or destroyed more than half of Ukraine's power generation.

Persons: —, aren't, Kuzmina, Yuliia Kuzmina, Volodymyr Zelenskyy, Yana Lukashuk, Lukashuk, Olga Kupets, Kupets, shubhangigoel@insider.com Organizations: Service, Business, Army, Ukrainian Army, Donbas Battalion, Kuzmina's, Locals, Kyiv School of Economics Locations: Kamianske, Ukraine, Russia, Ukrainian, Torestsk, Kyiv, Soviet

☆ Russia’s shifting tactics put unprecedented pressure on Ukraine’s already hobbled power system
▼ + stars: | 2024-06-22 | by ( Clare Sebastian | Olga Voitovych | ) edition.cnn.com time to read: +10 min

“We are doing our best,” Deputy Energy Minister Svitlana Grynchuk told CNN. “I installed them so that my family would not feel uncomfortable when there is no electricity,” he told CNN. The company told CNN it’s also halted the use of air conditioning in administrative buildings, and turned off outdoor lighting. The G7, having already spent $3bn to date to support Ukraine’s energy sector, just announced another $1bn in funding in early June. Ukraine’s energy ministry says it has been building concrete shelters to protect some energy equipment from attacks.

Persons: CNN — Kateryna Serzhan, “, Keen, Ukrenergo, Volodymyr Zelensky, ”, …, Dmytro Sakharuk, DTEK, Thomas Peter, Yan Dobronosov, Svitlana Grynchuk, Denis Shmyhal, Serzhan, CNN it’s, Stepanov, Valentyn Ogirenko, Marta Trush, Igor Piddubnyi, Piddubnyi, ” CNN’s Clare Sebastian, Olga Voitovych, Svitlana Vlasova, Daria Tarasova, Markina Organizations: CNN, Reuters, Getty, Energy, Kyiv region’s, Ukraine’s, Companies, Railways, Kyiv School of Economics, “, National Bank of, Patriot, White House Locations: Kyiv, Ukraine, –, Moscow, Russia, Berlin, Russian, Europe, AFP, National Bank of Ukraine, “ Ukraine, Romania, London

☆ Foreign companies have lost over $100 billion in the process of leaving Russia since it started the war in Ukraine
▼ + stars: | 2024-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.

Persons: —, Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow

☆ Opinion: The heroism of Ukraine and the nihilism of Mike Johnson
▼ + stars: | 2024-03-28 | by ( Opinion Amelia Glaser | Marci Shore | ) edition.cnn.com time to read: +12 min

Yevhenii Zavhorodnii/Global Images Ukraine/Getty ImagesIn Ukraine the air raid alerts are incessant. Kyiv has the best air defense in Ukraine; the country lacks the resources to defend other cities this way. He noted that Ukrainian air defense had done a spectacular job that morning intercepting every single missile launched at Kyiv. The United States has essentially cut off Ukraine, and Ukrainian air defense is quickly running out of ammunition. After we landed back in JFK, we turned off the air raid sound on our phones.

Persons: Amelia Glaser, Marci Shore, Read, Mike Johnson, Vladimir Putin’s, Covid, ” –, Andrii, you’re, Oleksandr Roytburd, Roytburd, Alla Horska, Tymofiy Mylovanov, Amelia, Iya Kiva, Marci, Tetyana Ogarkova, Volodymyr Yermolenko, Putin, Tucker Carlson, Bohdan Khmelnytsky, Carlson, Khmelnytsky, Oleksandr Halenko, Gleb Garanich, texted, ”, Sergii, “, Alina Smutko, Sergii’s, Mark Hamill –, Luke Skywalker, Agiya Zagrebelska, Arad, “ Pessimists, Rob Bauer, ” Bauer, “ I’m, Iaroslava Strikha, beholden, Donald Trump, Johnson, Arseniy Yatsenyuk, ” Putin Organizations: UC San Diego, Yale University, CNN, of Decorative, Applied Arts, Design, Warsaw —, Kyiv School of Economics, KGB, Ukrainian, Fulbright, NATO, National Agency on Corruption, Kyiv Security, United, Kyiv, National, Security Forum Locations: Russia’s, Crimea, Kyiv, New York, JFK, Warsaw, Polish, Chelm, Bucha, Russian, Yevhenii, Ukraine, Sens, Ukrainian, Crimean Tatar, KSE, Muscovy, Russia, Poland, Syria, Murmansk, Kyiv oblast, Austrian, texted, United States

☆ How to 3D-print a school in a war zone
▼ + stars: | 2024-03-25 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +11 min

Project Hive will provide the school with four extra classrooms to help it accommodate additional students displaced by the war, said Bonis. But he continues undeterred: “(This) is also a way of taking technology to give back hope.”A model of the 3D-printed school showing the four new classrooms. Where 3D printing is really great is when you have special geometries and shapes, because you’re totally free. According to Lange, there are cheaper, faster alternatives to 3D printing, such as prefabricated and modular buildings. Team4UAReconstructing communitiesTeam4UA is not the only organization to see the potential of 3D-printed construction in disaster and conflict zones.

Persons: Jean, Christophe Bonis, “ I’m, ” Bonis, Team4UA, Olga Gavura, “, ”, DUS, Christian Lange, you’re, Hong Kong University Lange, Lange, Jack Oslan, Oslan, ‘, Andriy Zakaliuk, Bonis, “ It’s Organizations: CNN, Team4UA, United Nations ’ International Organization for Migration, ”, Balbek, Ars Longa, Dubai Future Foundation, Hong Kong University, Robotic, 7CI Group, Russian, Diamond, Kyiv School of Economics, Lviv City Council’s Locations: Lviv, Ukraine, Europe, Russia, —, Texas, Austin , Texas, Nacajuca, Mexico, Dubai, Malawi, Arizona, “, Kherson, Kyiv

☆ Russia's resilience to sanctions shows it is 'costly and unattainable' to isolate a large and globally integrated economy, economist says
▼ + stars: | 2024-02-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

"The primary lesson is that seeking complete isolation of a large, complex and globally-integrated economy is costly and unattainable," Elina Ribakova wrote in the Financial Times on Tuesday. Russia's economy has managed to keep humming because Russian President Vladimir Putin has been preparing for sanctions since 2014. Failures in Russia, lessons for the futureEven so, the West can glean valuable lessons from its experience sanctioning an economy as large as Russia, said Ribakova. Advertisement"In the case of China, the US would need to look for vulnerabilities while remaining realistic about the limitations of sanctions," wrote Ribakova in FT.She added there must be steeper penalties for those who evade sanctions. "The experience with Russia is an invaluable opportunity to sharpen sanctions as a foreign policy tool," she wrote Ribakova.

Persons: —, Elina Ribakova, Vladimir Putin, Ribakova Organizations: Service, Financial Times, Business, Monetary Fund, Peterson Institute for International Economics, International Affairs Program, Kyiv School of Economics, Russia Locations: Ukraine, Russia, Moscow, Beijing, China, Taiwan

Kyiv, Ukraine CNN —The small group of women thought about canceling their protest when the sirens went off. A short distance away from where the women were standing, lawmakers debated reforms to Ukraine’s mobilization rules, inside Kyiv’s heavily protected parliament building. Antonina and her son Sasha, 3, take part in a protest in Kyiv, Ukraine, calling for soldiers' mobilization to have a time limit. “The time has come to take back what is ours,” said one highly produced video, published on the Telegram channel of then commander-in-chief of Ukraine’s Armed Forces, Valerii Zaluzhnyi. “The bureaucratic apparatus of the armed forces is a bit inflated.

Persons: Antonina, Sasha, “, doesn’t, ” Antonina, Antonina’s, Daria Tarasova, ”, Valerii, Mac ”, Mykola, Yurii, Ukraine’s, Diego Herrera Carcedo, Andriy Demchenko, Demchenko, Volodymyr Zelensky, Zaluzhnyi, Zelensky, ” Zaluzhnyi, Andriy Zagorodnyuk, Oleksandr Syrskyi, CNN’s Christiane Amanpour, Gen, Volodymyr Zelenskiy, Sysrkyi, Genya Savilov, ” Tymofiy Mylovanov, Mylovanov, “ It’s Organizations: Ukraine CNN, Kyiv, CNN, Telegram, Ukraine’s Armed Forces, 92nd Assault Brigade, Territorial Defense Force, Publishing, Getty, State Border Service of Ukraine, Facebook, Former, Publicly, Munich, Ukrainian Armed Forces, Presidential Press Service, Reuters, President’s, Air Assault Forces, Kyiv School of Economics Locations: Kyiv, Ukraine, Bakhmut, Russia, London, Ivano, Frankivsk, Ukrainian, Donetsk Oblast, Anadolu, Hungary, AFP, Avdiivka

☆ Nearly half of Russia's imported battlefield tech has been coming from US and EU companies: joint report
▼ + stars: | 2024-01-12 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementIn total, the advanced tech imported by the Kremlin in those months is valued at $8.77 billion, the report said. Components from all of these companies have been found in Russian weapons retrieved from the battlefield, the report added. That's more than the US, but still less than the amount of imported tech originating from the Western coalition, which includes South Korea and Japan, per the report's data. AdvertisementThe joint report comes just after Ukrainian President Volodymyr Zelenskyy said on Tuesday that Western sanctions were marred by loopholes. The Yermak-McFaul International Working Group on Russian Sanctions is partially run by Zelenskyy's office.

Persons: —, Volodymyr Zelenskyy, Michael McFaul Organizations: Service, Business, Kremlin, Russian Sanctions, Kyiv School of Economics, Manufacturers, Intel, Devices, Texas Instruments, AMD, Western, Stanford Locations: Moscow, Ukraine, Russia, US, Massachusetts, China, Hong Kong, South Korea, Japan

☆ Fact-Checking Kremlin's Claim That More Foreign Companies Remain in Russia Than Have Left
▼ + stars: | 2023-12-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

AdvertisementAfter Russia invaded Ukraine in February 2022, over 1,000 foreign companies announced they would exit Russia in protest against the war. "More foreign companies remain in Russia than those who left the country," Dmitry Peskov, a spokesperson for the Kremlin, told Business Insider in late October. 1: Data from Yale UniversityYale University runs an ongoing study that examines which foreign companies have left Russia since the war began. Here are their results as of November 21:KSE's data shows that most foreign companies have not left Russia. Russia is making it difficult for foreign companies to exitMany companies still operating in Russia are also stuck in the process of exiting the market.

Persons: KSE, —, it's, haven't, Dmitry Peskov, Steven Tian, Tian, Agathe Demarais, Igor Lipsits Organizations: Kremlin, Yale, Service, BI, Yale University Yale University, Kyiv School of, Kyiv School of Economics, University of St, Yale's, Leadership Institute, BP, Benetton, Unilever, Nestlé, European Council, Foreign Relations, Financial Times Locations: Russia, Ukraine, Gallen, Switzerland, Ukrainian, Russian

☆ Ukraine war live updates: Ukraine braces itself for infrastructure strikes; war hotspot Avdiivka under 'massive' Russian shelling
▼ + stars: | 2023-11-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

"We are almost halfway through November and we must be prepared for the possibility that the enemy may increase the number of drone or missile strikes against our infrastructure," Zelenskyy said in his nightly address Sunday. Ukraine's President Volodymyr Zelenskyy said the country must brace itself for more attacks on national infrastructure as winter approaches. Firefighters work to put out a fire at energy infrastructure facilities damaged by Russian missile strike, as Russia's attack on Ukraine continues, in Kyiv region, Ukraine. Russia pummelled Ukrainian energy infrastructure last winter, putting pressure on much of the civilian population by depriving them of heating and power. The Kyiv School of Economics estimated last January that damage to the country's energy sector had already totaled $6.8 billion.

Persons: Zelenskyy, Volodymyr Zelenskyy Organizations: Ukraine's, Firefighters, Russian, Kyiv School of Economics, Institute for Locations: Ukraine, Kyiv region, Russia, Kyiv

☆ A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +8 min

For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. But most of that, economists say, stems from Europe's ban on Russian oil, which cost Moscow its main customer. The U.K. Treasury says it is "actively undertaking a number of investigations into suspected breaches of the oil price cap." "And there's a reason why the shippers haven't really complained or haven't flagged any issues with the oil price cap — because it's very easily circumvented."

Persons: —, Hilgenstock, P Global Platts, It's, Benjamin Hilgenstock, Vladimir Putin, They're, Viktor Katona, haven't, Alexander Novak, Putin, Novak, Europe —, Craig Kennedy, doesn't, Nataliia Shapoval, Shapoval Organizations: Salym Petroleum, U.S . Treasury Department, Stanford University, Research, Energy, Clean, P Global, Kyiv School of Economics, International Monetary Fund, Russia, U.S . Treasury, United Arab Emirates, Treasury, Radio Business, Harvard's Davis Center for Russian, Studies, Kyiv, Stanford, Tanker Locations: Salym, Russia, Ukraine, Israel, U.S, Moscow, Helsinki, Saudi Arabia, Ukrainian, Europe, Kozmino, Turkey, India, Russian, Asia

FRANKFURT, Germany (AP) — For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. But most of that, economists say, stems from Europe's ban on Russian oil, which cost Moscow its main customer. They're accused of carrying Russian oil priced at $75 and $80 per barrel while relying on U.S.-connected service providers. “The price cap is working,” says Nataliia Shapoval, vice president for policy research at the Kyiv school.

Persons: —, Benjamin Hilgenstock, Vladimir Putin, ” Hilgenstock, P Global Platts, It's, They're, “, ”, Viktor Katona, haven't, Alexander Novak, Putin, Novak, Europe —, Craig Kennedy, doesn't, Nataliia Shapoval, Shapoval, Josh Boak Organizations: Kyiv School of Economics, International Monetary Fund, U.S . Treasury Department, Stanford University, ”, Russia ”, Research, Energy, Clean, P Global, Russia, U.S . Treasury, United Arab Emirates, Treasury, Radio Business, Harvard’s Davis Center for Russian, Studies, Kyiv, Stanford, Tanker Locations: FRANKFURT, Germany, Ukraine, Israel, Russia, Ukrainian, U.S, Moscow, Helsinki, Saudi Arabia, Europe, Kozmino, Turkey, India, Russian, Asia, Washington, russia, ukraine

☆ Analysis: Putin banks on wavering support for Ukraine, amid a race against time
▼ + stars: | 2023-10-08 | by ( Nathan Hodge | ) edition.cnn.com time to read: +8 min

Last week, President Joe Biden signed into law a stopgap bill to avert a government shutdown, but funding for Ukraine was a casualty of the brinksmanship on Capitol Hill. The Biden administration emphasizes that that the American public’s support for Ukraine remains strong. Ukrainian President Volodymyr Zelensky walks down the White House colonnade to the Oval Office with President Joe Biden during a visit to the White House in Washington, DC, on September 21. In his remarks at Valdai, he clearly implied that Russia intends to outlast the West over Ukraine. Paraphrasing Putin, Mylovanov said that the Kremlin believes that “Ukraine will have one week left to LIVE once Western supplies are over.

Persons: Donald Trump, he’d, Vladimir Putin, Putin, ”, “, Joe Biden, Biden, Kevin McCarthy, Volodymyr Zelensky, Kevin Lamarque, —, Robert Fico, Fico, Ukraine —, Wolfgang Schwan, Rob Bauer, brazenly, Tymofiy Mylovanov, Putin’s Valdai, Mylovanov, Wagner Organizations: CNN, Kremlin, Ukraine, Capitol, White, Pentagon, of, Republican, Trump, European Union, NATO, Russia, Anadolu Agency, Warsaw Security, Royal Netherlands Navy, Committee, Kyiv School of Economics Locations: Ukraine, Ukrainian, Washington, Washington ,, United States, Europe, Slovakia, EU, Russian, Bakhmut, Russia, Siberia, Eastern Siberia, Valdai, West, Brussels, Hroza, Kharkiv, Ukraine’s

☆ Ukraine heads into winter with a hobbled energy system
▼ + stars: | 2023-10-06 | by ( Olena Harmash | ) www.reuters.com time to read: +6 min

Ukraine declines to share detailed data on the impact of attacks on its energy system, treating it as sensitive information during wartime. Kyiv School of Economics' research centre estimated the direct damage to Ukraine's energy infrastructure at $8.8 billion as of June. Last winter, Ukraine was helped by relatively mild weather, rapid repairs, nuclear power and electricity imports from Europe, but some officials expect tougher conditions this time. Volodymyr Kudrytskyi, head of national grid operator Ukrenergo, said the main grid, one of the most damaged parts of the energy system, was ready to transmit winter volumes of electricity. "The energy system is not as reliable and with a smaller reserve capacity than it was before the targeted strikes," he said.

Persons: Marcus Lippold, It's, it's, Andriy Sadovy, Oleksandr Kharchenko, Dmytro Sakharuk, Sakharuk, DTEK, Denys Shmyhal, Shmyhal, Volodymyr Kudrytskyi, Oleksiy Chernyshov, Serhiy Sukhomlyn, Julia Payne, Mike Collett, White, Gareth Jones Organizations: United Nations, Kyiv School of Economics, Lviv, Energy Industry Research Center, Reuters, Ukraine's, Naftogaz, Thomson Locations: Ukraine, Russian, Brussels, Russia, Moscow, Europe, Zhytomyr, Kyiv

FRANKFURT, Germany (AP) — Oil prices have risen, meaning drivers are paying more for gasoline and truckers and farmers more for diesel. Here are things to know about the recent increase — and where prices might be going:WHY HAVE OIL PRICES RISEN? “The last thing you want to do is fuel inflation again with much higher oil prices. Diesel prices have risen as well, along with higher oil costs and refineries facing shortages of the specific kinds of crude best for making diesel. HOW DO HIGHER OIL PRICES HELP RUSSIA?

Persons: Jorge Leon, That's, Leon, ” Leon, “, ”, Thu, Nguyen, Commerzbank, Gary Peach, Benjamin Hilgenstock, Joe Biden, Biden, Josh Boak Organizations: —, Saudi, Brent, Rystad Energy, Energy Intelligence, U.S, AAA, Diesel, Kremlin, Kyiv School of Economics, Policy Center, Union, Group, U.S . Energy Information Administration, Associated Locations: FRANKFURT, Germany, Russia, Saudi, OPEC, China, Europe, U.S, Ukraine, Moscow, Brussels, Washington

☆ Russia dodges G7 price cap sanctions on most of its oil exports- FT
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

Russian oil cargo Pure Point, carrying crude oil, is seen anchored at the port in Karachi, Pakistan June 13, 2023. REUTERS/Akhtar Soomro/File Photo Acquire Licensing RightsSept 24 (Reuters) - Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported on Sunday citing data from analytics company Kpler. The European Union, G7 countries and Australia introduced a price cap of $60 a barrel on Russian oil in last December, aiming to curb Russia's ability to finance the conflict in Ukraine. However, Russian oil revenues are likely to increase due to constant increases in crude prices and a reduction in the discount on its own oil, the FT report said, citing Kyiv School of Economics (KSE) estimates. Almost three-quarters of all the seaborne Russian crude flows travelled without western insurance in August, according to an analysis of shipping and insurance records by the Financial Times.

Persons: Akhtar Soomro, Russia's, Shubhendu Deshmukh, Lincoln Organizations: REUTERS, Financial Times, European Union, Kyiv School of Economics, Thomson Locations: Karachi, Pakistan, Ukraine, Australia, Russia, Bengaluru

☆ Putin lauds ‘excellent’ economic ties with China. Here’s how they’ve grown
▼ + stars: | 2023-09-12 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

“Relations between Russia and China in the sphere of economic cooperation have reached a very high level,” Vladimir Putin said, speaking at the Eastern Economic Forum in Vladivostok, Russia, according to Russian state-owned news agency TASS. Russian Prime Minister Mikhail Mishustin said in May that he expected trade with China would top $200 billion this year. As many Western banks have reduced their presence in Russia, China’s lenders swooped in to offer banking services. Between February 2022 and March this year, the assets of Chinese banks in the country more than quadrupled to $9.7 billion, according to data collected by KSE Institute at the Kyiv School of Economics. Of China’s four biggest banks, Bank of China and the Industrial and Commercial Bank of China saw the biggest increases in their Russian assets.

Persons: ” Vladimir Putin, Mikhail Mishustin, Putin, ”, Laura He, Josh Pennington, Alex Stambaugh, Mitch McCluskey, Anna Chernova Organizations: London CNN, “, Eastern Economic, Moscow, Russian, Organization of, Petroleum, International Energy Agency, China Association of Automobile Manufacturers, KSE Institute, Kyiv School of Economics, Bank of China, Industrial, Commercial Bank of China, European Central Bank Locations: Moscow, Beijing, Russia, China, Vladivostok, Ukraine, United States, Saudi Arabia, India, wean

☆ For Western firms, the risk of leaving Russia could be higher than staying
▼ + stars: | 2023-09-11 | by ( Greg Kennedy | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesA wave of Western companies exited Russia promptly after Moscow's invasion of Ukraine. For firms wishing to quit, amid heavy reputational and financial damage, the prospect of leaving is becoming harder with time. Nabi Abdullaev, a partner at Control Risks and former editor of the Moscow Times, told CNBC: "Some companies decide to stay because the risk of leaving Russia, at this moment at least, is higher than the risk of staying." Western companies that remain in the country are able to continue doing business because, despite sanctions, numerous transactions and activities are still authorized. In comparison, sanctions on Iran and North Korea are a far more severe environment for Western companies to operate within.

Persons: Nabi Abdullaev, Abdullaev, Vladimir Putin, Maria Shagina, Philip Morris, Heineken, Shagina Organizations: Bloomberg, Getty, Moscow Times, CNBC, Companies, Carlsberg, Danone, International Institute for Strategic Studies, Unilever, Nestle, PepsiCo, Research, Heineken, Russian Arnest, Kyiv School of Economics Locations: Moskva, Moscow, Russia, Ukraine, Russian, UniCredit, Raiffeisen, Ukrainian, Iran, North Korea

☆ Russia says it will not let foreign banks exit the market easily — unless they unfreeze Russian assets
▼ + stars: | 2023-09-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia's deputy finance minister said the country will not let foreign banks exit the market easily, per Reuters. Russia's decision to allow the banks to leave will "depend on the decision to unfreeze Russian assets," he said. It is not clear how many of these Russian assets were frozen by Western banks. AdvertisementAdvertisementMoiseev said at the Friday forum that there's one foreign bank applying to sell its assets in Russia, per Reuters. That jumped to nearly $10 billion at the end of March 2023, per the FT.AdvertisementAdvertisementRussia's finance ministry, Kyiv School of Economics, Bank of China, Industrial & Commercial Bank of China, China Construction Bank, and Agricultural Bank of China did not immediately respond to requests from Insider for comment.

Persons: Alexei Moiseev, Vladimir Putin's, it's, —, Moiseev, Raiffeisen Organizations: Reuters, Service, Yale University, Raiffeisen, Kyiv School of Economics, Bank of China, Industrial, Commercial Bank of, China Construction Bank, Agricultural Bank of, Financial Times, Agricultural Bank of China Locations: Russia, Wall, Silicon, Russian, Ukraine, Moscow, Commercial Bank of China, China, Agricultural Bank of China

☆ How U.S. microchips are fueling Russia's military — despite sanctions
▼ + stars: | 2023-08-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

Murky supply chainsNot all advanced technologies are subject to Western sanctions on Russia. So, a Russian military, as well as its civilian economy, have become dependent," Sam Bendett, advisor at the Center for Naval Analyses, said. Meanwhile, sanctions on Russia are largely limited to Ukraine's Western allies, meaning that many countries continue to trade with Russia. And this is what the Russian industry as well as the Russian military and its intelligence services are taking advantage of," Bendett said. Sanctions clampdownThe burgeoning trade flows have prompted calls from Western allies to either get more countries on board with sanctions, or slap secondary sanctions on certain entities operating within those countries in a bid to stifle Russia's military strength.

Persons: Elina Ribakova, KSE, Sam Bendett, spokespeople, Bendett, Sellers Organizations: CNBC, Semiconductors, Peterson Institute for International Economics, KSE Institute, Kyiv School, Economics, United Arab, Moscow, Royal United Services Institute, U.S ., Center for Naval, Russian, Economic Security, of, CNBC Exports, Union, Russian Federation, European Union, Peterson Institute for International Locations: Russia, Moscow, China, Turkey, United Arab Emirates, Ukraine, Russia's, U.S, Japan, Germany, Russian, microchips, Hong Kong, of Ukraine, Caucasus, Central Asia, Georgia, Armenia, Kyrgyzstan

☆ A Ukrainian company is building $18,000 tiny homes for families who had theirs destroyed in the war. Take a look inside.
▼ + stars: | 2023-08-05 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +1 min

Tens of thousands of Ukrainians have had their homes destroyed in the war. But the company HOMErs is fixing that problem by building fully-furnished properties. Take a look inside one of the homes, which can be made in days and sells for just $18,000. The three-module, fully-furnished properties sell for $18,000 and have managed to give desperate Ukrainian families a new home in a time of need. Scroll down and take a look inside.

Organizations: Service, Kyiv School of Economics, World Bank Locations: Wall, Silicon, Russia, Ukraine, Ukrainian

☆ Russian businessmen snapped up $40 billion worth of Western company assets at bargain-bin prices amid the corporate exodus: report
▼ + stars: | 2023-07-18 | by ( Kai Xiang Teo | Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russian businessmen bought the assets of 110 Western companies exiting the country at bargain-bin prices. These assets were collectively valued at 35 billion euros, or nearly $40 billion, at the end of 2022, per the report. Russian businessmen bought the assets of 110 Western companies "that have fully or partially left Russia" at bargain-bin prices, independent Russian newspaper Novaya Gazeta reported on Thursday. These assets were collectively valued at 35 billion euros, or nearly $40 billion, at the end of 2022, per the report. Foreign firms also had to slash their sale prices because in December 2022, Russia started forcing those selling their assets to dispose of them at a 50% discount.

Persons: Vladimir Potanin, Potanin, Norilsk Organizations: Service, Kremlin, Novaya Gazeta, Kyiv School of Economics, Novaya Gazeta —, US, Russian, Yale University, Financial Times Locations: Russia, Wall, Silicon, Ukraine, Russian, Moscow, McDonald's

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