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☆ Russian food prices are soaring — but no one dares blame Putin and the war
▼ + stars: | 2024-11-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +4 min

Sopa Images | Lightrocket | Getty ImagesCustomers shop for milk and dairy items inside an Auchan Retail International hypermarket in Moscow, Russia. Russia's leadership has looked to dodge criticism for the price rises, blaming "unfriendly" countries (that is, Ukraine's allies) for the conflict, sanctions and supply shortages. "Smart people ... understand what is happening with the economy, but most people accuse foreign 'unfriendly' countries [of being to blame for the price rises]. Last year, a shortage of eggs — and price rises of more than 40% — prompted the government to remove import duties on the product. Russian President Vladimir Putin attends a meeting with First Deputy Prime Minister Denis Manturov in Moscow, Russia November 20, 2024.

Persons: Anton Barbashin, Riddle, Ukraine's, Vladimir Putin, Putin, Stanislav, Denis Manturov, Vyacheslav Prokofyev Organizations: Getty, Bloomberg, CNBC, Ukraine, International Monetary Fund, TASS, Reuters Locations: St . Petersburg, Moscow, Russia, Russian, Europe, Ukraine, Belarus, Azerbaijan, Turkey

☆ Russian manufacturer test-flies prototype widebody passenger airplane
▼ + stars: | 2023-11-08 | by ( Barry Neild | Anna Chernova | ) edition.cnn.com time to read: +4 min

CNN —Russia’s leading aircraft manufacturer says it’s completed a successful test flight of a new widebody passenger airplane that it claims could replace Western aircraft in the country’s skies. UAC, which oversees Russian aviation brands including Tupolev, Ilyushin and Sukhoi, said the plane will be capable of carrying up to 370 passengers, a capacity that would put it alongside the likes of Airbus’ A340 or Boeing’s 777. As of 2022, only 144 active Russian airline planes were built in Russia, according to data provided by aviation analytics firm Cirium. “Although Moscow won’t admit it, the sanctions that followed the Ukraine invasion have really damaged Russian aviation,” Murdo Morrison, head of strategic content at FlightGlobal, tells CNN. Addressing concerns, Russia’s Ministry of Transport said at the time that flight safety on Russia-operated aircraft meets international standards.

Persons: CNN —, it’s, ”, Denis Manturov, Vladimir Putin, Murdo Morrison, ‘, Yuri Slyusar, FlightGlobal’s Morrison Organizations: CNN, CNN — Russia’s, United Aircraft Corporation, UAC, Russian, Tupolev, Sukhoi, Airbus, Russia, Boeing, Bombardier, Embraer, Moscow, ”, Ural Airlines, International Civil Aviation Organization, Russia’s Ministry of Transport Locations: Ukraine, Russia, “, Russia’s Novosibirsk, Bhutan, Congo, Liberia, Moscow

☆ A desperate Russia may be just what North Korea needs to finally update its ancient Air Force
▼ + stars: | 2023-10-15 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

North Korean leader Kim Jong Un visited Russia in September on his first overseas trip since 2019. The visit was seen as Russia's attempt to secure North Korean support for Moscow's war in Ukraine. For North Korea, Russia's desperation may be a chance to get help upgrading its aging air force. Korean People's Army Air and Anti-Air ForceSouth Korean troops guard a MiG-19 that a North Korean pilot used to defect in May 1996. KCNA via REUTERSGiven the North Korean air force's needs, it's easy to see Kim's visit as something of a prospective shopping trip.

Persons: Kim Jong Un, —, Vladimir Putin, Sergei Shoigu, Kim, Putin, CHOO YOUN, Antonov, Mikhail Japaridze, Kim's, Kim strode, Shoigu, Sergey Kobylash, Denis Manturov, Kim Jong Organizations: North, Service, Russian Defense, Vostochny, Amur Aircraft, Knevichi, Korean People's Army Air, Air Force South, MiG, Getty, Air Force, North Korean, Defense Intelligence Agency, DIA, KCNA, REUTERS, Kremlin Locations: Russia, Ukraine, North Korea, Korean, Russian, Moscow, Pyongyang, KONG, AFP, Soviet Union, China, Komsomolsk, Vladivostok, Japan, Korea

Finance Minister Anton Siluanov said Russia would return to following its budget rule in 2024, envisaging an oil price of $60 per barrel. The government was discussing budget plans for the next three years. Bloomberg News reported that Russia is also planning a huge hike in defence spending next year, swelling to 6% of GDP from 3.9% in 2023 and 2.7% in 2021. Siluanov said Russia planned to raise domestic borrowing to more than 4 trillion roubles annually to fund its deficits. Siluanov said Russia's NWF would hold 6.7 trillion roubles by end-2024, down from 13.7 trillion roubles, or 9.1% of GDP as of Sept. 1.

Persons: Vladimir Putin, Denis Manturov, Alexei Krivoruchko, Mikhail Metzel, Mikhail Mishustin, Mishustin, Anton Siluanov, Siluanov, Russia's, Vladimir Soldatkin, Darya Korsunskaya, Alexander Marrow, Mark Trevelyan Organizations: Sputnik, REUTERS Acquire, Finance, National Wealth Fund, Bloomberg News, Reuters, Thomson Locations: Izhevsk, Russia, Ukraine MOSCOW, Moscow, Ukraine

☆ Russia plans huge defence spending hike in 2024, Bloomberg reports
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Russian President Vladimir Putin, accompanied by Deputy Prime Minister Denis Manturov, Deputy Defence Minister Alexei Krivoruchko and other officials, attends the Gunsmith Forum in the city of Izhevsk, Russia September 19, 2023. Sputnik/Mikhail Metzel/Pool via REUTERS Acquire Licensing RightsSept 22 (Reuters) - Russia plans a huge hike in defence spending next year, swelling to 6% of gross domestic product (GDP), up from 3.9% in 2023 and 2.7% in 2021, Bloomberg News reported on Friday. Moscow doubled its target for defence spending in 2023 to more than $100 billion, Reuters reported exclusively in August, as the costs of the war in Ukraine spiral and place growing strain on Moscow's finances. Rising war costs are supporting Russia's modest economic recovery this year with higher industrial production, but have already pushed budget finances to a deficit of around $24 billion - a figure compounded by falling export revenues. Reporting by Urvi Dugar in Bengaluru; Writing by Alexander Marrow; Editing by Andrew Cawthorne and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Putin, Denis Manturov, Alexei Krivoruchko, Mikhail Metzel, Urvi, Alexander Marrow, Andrew Cawthorne, Gareth Jones Organizations: Sputnik, REUTERS Acquire, Bloomberg, Reuters, Thomson Locations: Izhevsk, Russia, Moscow, Ukraine, Bengaluru

☆ Russia gives Kim Jong Un an inside look at its warplanes
▼ + stars: | 2023-09-15 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +4 min

Seoul, South Korea CNN —Kim Jong Un was “deeply impressed” by a visit to a Russian aircraft manufacturing plant on Friday, according to North Korean state media. The stop was Kim’s latest on a tour of Russia that follows his meeting with President Vladimir Putin earlier this week, at which the North Korean leader appeared to endorse Moscow’s war on Ukraine. North Korean leader Kim Jong Un visits an aircraft manufacturing plant in the city of Komsomolsk-on-Amur in Russia on September 15, 2023. It said the two toured the airfield and Kim was shown the Russian aircraft Tu-160, Tu-95MS and Tu-22M3. North Korean leader Kim Jong Un visits an aircraft manufacturing plant in the city of Komsomolsk-on-Amur in Russia on September 15, 2023.

Persons: South Korea CNN — Kim Jong, “, ”, Kim, Yuri, KCNA, Vladimir Putin, Su, Kim’s, Kim Jong Il, Kim Jong Un, Kim “, ” KCNA, Sergei Shoigu, Putin, Denis Manturov Organizations: South Korea CNN, Aviation, Korean Central News Agency, North, KCNA, RIA Novosti, Russian Defense, RIA, Shoigu, . North, Reuters Mutual, Vostochny, North Korea “ Locations: Seoul, South Korea, Russian, Korean, Russia, Ukraine, Moscow, Pyongyang, Komsomolsk, Vladivostok, North Korea, –, Amur Region

Finland is a European Union member that supports sanctions on Russia and the most recent to join NATO. Both Turkey and the UAE have condemned Russia’s invasion of Ukraine but have not joined Western sanctions and sought to maintain ties with Russia. The latest sanctions package targets Russian companies that repair, develop and manufacture weapons, including the Kalibr cruise missile. Turkey, meanwhile, has tried to balance its close ties with both Russia and Ukraine, positioning itself as a mediator. Including the latest sanctions, the U.S. has targeted almost 3,000 businesses and people since Russia invaded Ukraine in February 2022, according to State.

Persons: Vladimir Putin’s, ” James O’Brien, Putin, O’Brien, “, ” O’Brien, ”, Richard Connolly, Alexander, Lukashenko, ” Connolly, Denis Manturov, Connolly, Tom Keatinge, Andrei Bokarev, Sergei Shoigu, Iskander Makhmudov, Alexei Krivoruchko, Wagner, Otar, Partskhaladze, Antony Blinken, Suzan Fraser, Jon Gambrell, Antony Blinken’s Organizations: United Arab, State, Treasury, NATO, State Department’s Office, Associated Press, State Department, European Union, The State Department, Russia’s Ministry of Defense, Oxford, Western, Russian Industry, Trade, Centre for Financial, Security, Royal United Services Institute, “, U.S, Russian Defense, Russian, Federal Security Service Locations: States, Russia, Turkey, United Arab Emirates, Georgia, Ukraine, U.S, UAE, Russia’s, Moscow, Finland, European, Belarus, Russian, ”, London, North Korea, Georgian, State, Ankara, Dubai

☆ State-owned VTB bank to control Russia's biggest shipbuilding firm for five years
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Russian President Vladimir Putin attends a meeting with CEO of VTB bank Andrei Kostin in Moscow, Russia, August 10, 2023. Sputnik/Mikhail Klimentyev/Kremlin via REUTERSSummaryCompanies VTB to control United Shipbuilding Corporation for five yearsVTB boss Kostin says the news is unexpectedPutin says there are problems at USCMOSCOW, Aug 10 (Reuters) - President Vladimir Putin said on Thursday that the state-owned VTB (VTBR.MM) bank would be given control of the state's 100% stake in United Shipbuilding Corporation (USC), the largest shipbuilding company in Russia. Trade and Industry Minister Denis Manturov specified that VTB would manage the stake in trust for five years. United Shipbuilding Corporation builds vessels for both the civilian and military sectors, operating about 40 shipyards, design offices and repair yards across Russia and employing 95,000 staff. Putin told VTB CEO Andrei Kostin at a televised Kremlin meeting that he supported a government proposal to transfer the stake.

Persons: Vladimir Putin, Andrei Kostin, Mikhail Klimentyev, Kostin, Putin, Denis Manturov, Vladimir Vladimirovich, Manturov, Guy Faulconbridge, Kevin Liffey Organizations: Sputnik, United Shipbuilding Corporation, USC MOSCOW, USC, Trade, Industry, Kremlin, USC JSC, VTB Bank, Thomson Locations: Moscow, Russia, Kremlin

☆ Exclusive: Russia doubles 2023 defence spending plan as war costs soar
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

They show that in the first half of 2023 alone, Russia spent 12%, or 600 billion roubles, more on defence than the 4.98 trillion roubles ($54 billion) it had originally targeted for 2023. Defence spending in the first six months of 2023 amounted to 5.59 trillion roubles, 37.3% of a total 14.97 trillion roubles spent in the period, the document showed. Between 2011 and 2022, Russia spent a minimum of 13.9% and a maximum 23% of its budget on defence. Russia has already spent 57.4% of its new annual defence budget, the document showed. Funding for schools, hospitals and roads was already being squeezed this year in favour of defence and security, but as the share of defence spending grows, other areas could face cuts.

Persons: Vladimir Putin, Ilya Pitalyov, Denis Manturov, Dmitry Polevoy, Yevgeny Suvorov, Suvorov, Mike Collett, White, Philippa Fletcher Organizations: Sputnik, Reuters, Defence, MMI Telegram, Bank of Russia, Monetary Fund, Thomson Locations: Russian, Saint Petersburg, Russia, Ukraine, Moscow, Locko

IMPORTED ASSEMBLY KITSAfter a chaotic decade following the collapse of the Soviet Union in 1991, Russia encouraged Western carmakers to build factories. "Undoubtedly, the expansion of Chinese carmakers on the Russian market will continue," said Andrey Olkhovsky, the head of dealership chain Avtodom. It is a radical change of fortunes for Chinese carmakers in Russia. Production of Chinese vehicles only began in Russia in 2019 with the arrival of Chinese automotive company Great Wall Motor (601633.SS). LESS LOCAL INPUTUnder the partnership with Chinese firms, less of the production at former Western factories is currently conducted in Russia, the sources said.

Persons: Jetour, Maxim Shemetov, Moscow's, Sergei Sobyanin, French carmaker, JAC, Sehol, Moskvich, capitalising, Vladimir Bespalov, Vladimir Putin, Andrey Olkhovsky, Olkhovsky, Wall, Sollers, Avtovaz, Denis Manturov, Gleb Stolyarov, Alexander Marrow, Zhang Yan, Daniel Flynn Organizations: REUTERS, French, French carmaker Renault, Moscow Automobile Factory, JAC Motors, Reuters, Renault, Nissan, Russia's Industry, Trade Ministry, Wall, Chery, Geely, HK, Argo, Ford Transit, Nissan's St, Lada, China's FAW Group's, FAW, Western, Trade, Thomson Locations: Lyubertsy, Moscow Region, Russia, Soviet, Moscow, Anhui, Ukraine, Soviet Union, Western, Tula, Autostat, Tatarstan, Nissan's, Nissan's St Petersburg, St Petersburg, Leningrad, Japan, Europe, China, Shanghai

☆ Flights leaving Moscow sell out as Wagner troops descend, and unconfirmed reports say Putin might have left the capital for St. Petersburg
▼ + stars: | 2023-06-24 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Flights from Moscow have sold out amid reports Wagner troops are marching on the city, per Der Spiegel. There have been unconfirmed reports that Vladimir Putin has fled from the capital to St. Petersberg. Flights from Moscow to Tbilisi, Georgia, Astana, Kazakhstan, and Istanbul, Turkey, are now no longer available, a Der Spiegel reporter confirmed. Several other private flights from Russia were also tracked on the Flightradar24 platform, Der Spiegel said. Putin has condemned the mutiny, which he has described as a "betrayal," and has vowed that Russia will defend itself.

Persons: Wagner, Der Spiegel, Vladimir Putin, —, Petersberg, Dmitry Peskov, Denis Manturov, Putin Organizations: Wagner Group, Service, Moscow's Vnukovo Locations: Moscow, Russia, St, Petersberg, Ukraine, Tbilisi , Georgia, Astana, Kazakhstan, Istanbul, Turkey, Flightradar24, Moscow's, Russian

☆ 5 ways Russia's been sidestepping Western sanctions and keeping its economy alive, from switching to the Chinese yuan and dabbling in ghost trades
▼ + stars: | 2023-05-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

A fleet of aging oil tankers that do not turn on their tracking signals is suspected of secretly transporting sanctioned Russian oil globally. Russia has also put together a "shadow fleet" of more than 100 oil tankers to skirt the sanctions, the FT reported in December. By August, such gray market sales reached nearly $6.5 billion, said Denis Manturov, the Russian trade and industry minister, according to an Interfax report. Russian oil is still getting into Western countries, thanks to intermediaries. Western nations that banned Russian oil have collectively imported nearly $46 billion worth of Russian oil products, according to a study by the Centre for Research on Energy and Clean Air, or CREA, published in April.

☆ India's ties with Russia remain steady. But Moscow's tighter embrace of China makes it wary
▼ + stars: | 2023-05-03 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

(PRAKASH SINGH/AFP via Getty Images) Prakash Singh | Afp | Getty ImagesIndia's relationship with Russia remains steadfast as both sides seek to deepen their economic ties. Russia also wants to "intensify" free trade discussions with India, Deputy Prime Minister Denis Manturov said during a visit to Delhi. watch nowIt's becoming "more difficult with every passing day because of the closeness that we are witnessing between Beijing and Moscow," Pant noted. This defense cooperation is vital given India's tensions along the Himalayan border with an increasingly assertive China, said ORF's Pant. Now, the country cannot expect Russia to play "the same strategic role for India as it used to prior to the Ukraine war.

☆ India, Russia in talks on free trade deal
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] Indian Foreign Minister Subrahmanyam Jaishankar attends a news conference following talks with his Russian counterpart Sergei Lavrov in Moscow, Russia, November 8, 2022. Maxim Shipenkov/Pool via REUTERSNEW DELHI, April 17 (Reuters) - India and Russia are discussing a free trade agreement, ministers said on Monday, a move that would further deepen bilateral commercial ties that have flourished since war broke out in Ukraine. Russia, a traditional defence equipment supplier, also displaced Iraq last month to become India's top supplier of crude oil. Moscow was looking to increase machinery imports from India to improve the trade balance, Manturov said. India too aims to narrow its growing trade deficit with Russia, which has been India's largest supplier of military equipment for decades and is the fourth-biggest market for Indian pharmaceuticals.

☆ Russian electronics retailer M.Video-Eldorado's sales drop in 2022
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The West moved to curb technology exports to Russia after Moscow sent tens of thousands of troops into Ukraine last year, while several leading manufacturers pulled out of the Russian market. The company cited high volatility in sales of household appliances and electronics. The overall size of the electronics and appliances market in Russia dipped from 2.5 trillion roubles in 2021 to 2.3 trillion in 2022, M.Video estimated in the investor presentation. With government support, Russia's retailers have also moved to boost their sales of electronics from countries that have not imposed sanctions on Russia, such as China, Turkey and India.

☆ Russia says it may take over Toyota plant in St Petersburg -TASS
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, March 16 (Reuters) - Japanese car maker Toyota's (7203.T) St Petersburg plant may be transferred to the Russian state entity NAMI, Russian Industry and Trade Minister Denis Manturov said on Thursday, according to the state-run TASS news agency. "The transfer of Toyota's Russian asets to NAMI is being considered," Manturov was quoted as saying on the sidelines of a business congress. A spokesperson for Toyota said on Friday it was considering what to do regarding the plant, after having already decided last year to end vehicle production in Russia after suspending production in St Petersburg last March. "While it's true that we're considering various options, nothing has been decided at this point," the spokesperson said. Toyota said in September it had decided to stop vehicle production in Russia due to the interruption in supplies of key materials and parts.

☆ Agreement over IKEA's Russia sale could be reached in days, says Moscow
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of IKEA on a closed store in Kotelniki outside Moscow, Russia July 5, 2022. IKEA decided to close its shops in Russia after Moscow sent tens of thousands of troops to Ukraine in February in what it said was a 'special military operation'. Industry and Trade Minister Denis Manturov said negotiations were ongoing, but declined to do disclose who the potential buyers were. "The sales activities of our factories in Russia are proceeding according to plan," IKEA said in a statement. "We have agreed with potential buyers not to share any details with respect to them and the integrity of the sales process."

It sold its plant, now renamed the Moscow Automobile Factory Moskvich, for another rouble. [1/6] A view shows a car under the Soviet-era brand Moskvich during a ceremony marking the launch of the production at the Moscow Automobile Factory Moskvich in Moscow, Russia, November 23, 2022. The government's ultimate target of producing 100,000 Moskvich vehicles a year, some of which will be electric, is far below the industry average for a car plant of 200,000-300,000. "The first Moskvich cars will come off the production line in December 2022," Kamaz (KMAZ.MM) said in a statement. The car goes on sale in Russia next month, it added, although the price has yet to be disclosed.

☆ Russia relaunches production of Soviet-era Moskvich at ex-Renault plant
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

It sold its plant, now renamed the Moscow Automobile Factory Moskvich, for another rouble. The ultimate target of producing 100,000 Moskvich vehicles a year, some of which will be electric, is far below the industry average for a car plant of between 200,000-300,000. "The first Moskvich cars will come off the production line in December 2022," truck maker Kamaz <KMAZ.MM>, the plant's technological partner, said in a statement. Sources have told Reuters that Chinese carmaker JAC's design, engineering and production platform will be used to produce the brand. The ministry said the launch of full-scale production would provide jobs for around 40,000 more people.

☆ Putin calls for price controls as Russian car sales crash to record low
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +3 min

[1/4] Hyundai cars are seen at a customs terminal on the outskirts of Saint Petersburg, Russia June 1, 2022. REUTERS/Anton VaganovMOSCOW, Nov 16 (Reuters) - President Vladimir Putin urged the Russian government on Wednesday to control car prices, as one industry head said Western sanctions could send annual sales crashing to below 1 million for the first time since records began. Manturov also proposed extending preferential car financing to military personnel, adding: "Today we can speak of an emerging trend towards a recovery of the industry." He said the number of cars sold in Russia would this year fall below 1 million, a first in modern history. Reporting by Caleb Davis and Gleb Stolyarov; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ Carmaker Nissan just sold its Russian business for less than $1 to a state-owned company, chalking up nearly $700 million in losses as it exits the country
▼ + stars: | 2022-10-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Carmaker Nissan said it is exiting Russia and selling its operations to state-owned NAMI for under $1. The deal gives Nissan the option to buy back the entity and its operations within the next six years. The deal allows for the Russian operations to continue and preserves 2,000 jobs in the company. However, the deal gives Nissan the option to buy back the entity and its operations within the next six years, the carmaker added. Nissan suspended its Russian operations in March after the country invaded Ukraine on February 24, triggering sweeping sanctions against Moscow.

☆ Nissan takes $687 mln loss as sells Russian business for 1 euro
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. The Japanese automaker transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The deal makes Nissan the latest major company to leave Russia since Moscow sent tens of thousands of troops into Ukraine in February. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.

☆ Japan's Nissan sells Russian assets to state, trade ministry says
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. REUTERS/Maxim ZmeyevSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 11 (Reuters) - Japanese automaker Nissan (7201.T) is selling its Russian assets to Russian state ownership, with an option to buy back the business within six years, Russia's industry and trade ministry said on Tuesday. Nissan in a statement said it had decided to exit the Russian market and expected to incur an extraordinary loss of approximately 100 billion yen ($686.72 million) from the asset transfer. Renault reportedly sold its stake in Avtovaz for one rouble ($0.0157). "'Nissan Manufacturing Rus' is transferring its assets to the state - a deal of great significance for the industry," Industry and Trade Minister Denis Manturov said in a statement.

☆ Nissan takes $687 million loss as it sells Russian business for 1 euro
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: +2 min

The Japanese company will transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The sale to NAMI will include Nissan's production and research facilities in St Petersburg as well as its sales and marketing center in Moscow, the ministry said. Nissan said it expected an extraordinary loss of around 100 billion yen ($687 million), but maintained its earnings forecast for the financial year ending in March. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.

☆ Russia's Medvedev: new regions can be defended with strategic nuclear weapons
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Sputnik/Konstantin Zavrazhin/Pool via REUTERSLONDON, Sept 22 (Reuters) - Former Russian president Dmitry Medvedev said on Thursday that any weapons in Moscow's arsenal, including strategic nuclear weapons, could be used to defend territories incorporated in Russia from Ukraine. Register now for FREE unlimited access to Reuters.com RegisterMedvedev said the protection of all the territories would be significantly strengthened by the Russian armed forces, adding:"Russia has announced that not only mobilisation capabilities, but also any Russian weapons, including strategic nuclear weapons and weapons based on new principles, could be used for such protection." If formally admitted to the Russian Federation, the occupied territories, where Ukrainian counteroffensives have gathered pace in recent weeks, will under Moscow's nuclear doctrine be entitled to protection from Russian nuclear weapons. Moscow does not fully control any of the four regions it is expected to try to annex, with only around 60% of Donetsk and 66% of Zaporizhzhia regions held by the Russian army. Register now for FREE unlimited access to Reuters.com RegisterWriting by Caleb Davis; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

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