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☆ Putin: Russian military-industrial might makes victory in Ukraine 'inevitable'
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Jan 18 (Reuters) - President Vladimir Putin said on Wednesday that Russia's powerful military-industrial complex was ramping up production and was one of the main reasons why his country would prevail in Ukraine. "In terms of achieving the end result and the victory that is inevitable, there are several things ... Putin said Russian arms companies manufactured about the same number of anti-aircraft missiles as the rest of the world combined, and three times more than the United States. "These are our historical territories," he said - a reference to the fact that large parts of today's Ukraine were once part of the Russian Empire. Putin was born in Leningrad in 1952 and began his foreign intelligence career in the city with the Soviet KGB.

☆ Analysis: Russia may hike taxes as military spending, oil price weigh on budget
▼ + stars: | 2023-01-13 | by ( Darya Korsunskaya | ) www.reuters.com time to read: +5 min

"The growing dependence of the budget on oil raises concerns," Alfa Bank said in a note that warned a decline in revenue from gas and oil product exports "looms on the horizon." Analysts say that as the government increased spending by more than a quarter in 2022, in part to finance its military in Ukraine, the oil price required to balance the budget jumped from $67 to $101 a barrel. "When there is a big gap between the actual price (of oil) and the balancing price, it cannot be sustainably covered by borrowing," said Natalia Orlova, chief economist at Alfa Bank. VAT rates, profit taxes and income tax would not be changed, Sazanov said, but other industries may face a higher tax bill. The measures are expected to net an additional 3.6 trillion roubles for the Russian budget over three years.

☆ Pope Francis meets Benedict's top aide as memoir rattles Vatican
▼ + stars: | 2023-01-09 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/2] Pope Francis talks with Archbishop Georg Ganswein during the Wednesday general audience in Saint Peter's square at the Vatican, September 5, 2018. REUTERS/Max RossiVATICAN CITY, Jan 9 (Reuters) - Pope Francis on Monday privately met Archbishop Georg Ganswein, former Pope Benedict's closest aide, who has rattled the Vatican with a book describing what he says were the strains while two men wearing white lived within its ancient walls. The Vatican's daily bulletin listed Ganswein in the pope's schedule of audiences but as is customary gave no details. Although Francis often compared having Benedict living in the Vatican to having a grandfather in the house, the book describes some tense situations. For the first seven years after Francis was elected pope, Ganswein kept his two jobs.

☆ Russia backs banning of maps disputing official 'territorial integrity'
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

[1/2] A woman walks past a building with Russian flags placed on its wall in Saint Petersburg, Russia April 24, 2022. REUTERS/Anton VaganovJan 8 (Reuters) - Russia's government extended support to a legislative amendment that would classify maps that dispute the country's official "territorial integrity" as punishable extremist materials, the state-owned TASS news agency reported on Sunday. The amendment to Russia's anti-extremism legislation stipulates that "cartographic and other documents and images that dispute the territorial integrity of Russia" will be classified as extremist materials, the agency reported. The new amendment, TASS reports without citing sources, emerged after its authors pointed out that some maps distributed in Russia dispute the "territorial affiliation" of the Crimean Peninsula and the Kuril Islands. Ukrainians and their government have since often objected to world maps showing Crimea as part of Russia's territory.

☆ How Putin was repeatedly snubbed by countries he thought were his allies since invading Ukraine
▼ + stars: | 2023-01-02 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +1 min

Tajikistan's president appeared to berate Putin and demanded respect for his country. Russian President Vladimir Putin shakes hands with Tajik President Emomali Rahmon in Saint Petersburg, Russia, in December 2021. Sputnik/Evgeny Biyatov/Kremlin via REUTERSThe president of Tajikistan, a close ally of Russia, seemed to berate Putin during a meeting of central Asian leaders in October. Emomali Rahmon said he wanted more respect from Putin despite his country's size. Rahmon also told Putin not to treat central Asian countries as if they were still part of the former Soviet Union, the New Voice of Ukraine reported.

☆ Factbox: Former pope Benedict, his papacy and resignation
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +4 min

VATICAN CITY, Dec 28 (Reuters) - Former pope Benedict, who Pope Francis said on Wednesday was "very sick", resigned in 2013, the first pontiff in 600 years to take such a step rather than rule for life. - Benedict, the first German pope in 1,000 years, was elected on April 19, 2005 to succeed the widely popular Pope John Paul II, who reigned for 27 years. The Vatican under Pope John Paul II had failed to take action against Maciel despite overwhelming evidence of his crimes. Some loyalists failed to accept that he had resigned the papacy willingly and continued to consider him "my pope". Pope Francis, by contrast, also loves classical music but appreciates Italian pop songs from the early 1960s and also likes tango music from his native Argentina.

Crude oil exports will be banned from Feb. 1, but the date for the oil products ban will be determined by the Russian government and could be after Feb. 1. The G7 price cap allows non-EU countries to continue importing seaborne Russian crude oil, but it will prohibit shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is being sold for less than the price cap. EU countries have separately implemented an embargo that prohibits them from purchasing seaborne Russian oil. Russian Urals oil traded above $56 per barrel on Tuesday, below the price cap level. Brent crude oil moved a little higher on the news and was up 1.4% at $85.1 by 1743 GMT.

REUTERS/Igor RussakWASHINGTON, Dec 21 (Reuters) - The Biden administration on Wednesday unveiled new curbs on technology exports to Russia's Wagner military group, in a bid to further choke off supplies to the contractor over its role in the Russian invasion of Ukraine. The Wagner group, which was added to a trade blacklist in 2017 after Russia annexed Ukraine's Crimea region, will now be labeled a military end user and face tough new curbs on access to technology made anywhere in the world with U.S. equipment. “The Wagner Group is one of the most notorious mercenary organizations in the world and is actively committing atrocities and human rights abuses across Ukraine,” said Under Secretary of Commerce for Industry and Security Alan Estevez. The Wagner group, a private military contractor with close ties to the Kremlin, was founded in 2014 after Russia seized and annexed Ukraine's Crimea peninsula and sparked a separatist insurgency in Ukraine's eastern Donbas region. Reporting by Alexandra Alper and David Shepardson; Editing by Leslie Adler and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

The deal McDonald's struck with former licensee Alexander Govor included a set of requirements the new brand, Vkusno & tochka, must stick to, including restrictions on branding, colour scheme and product usage. New owner Alexander Govor said this week he and the management team regularly talk over video link to the former parent company. "We are not talking about how they somehow participate in our business, this is already done," Vkusno & tochka, which translates to "Tasty & that's it," CEO Oleg Paroev told Reuters. In a statement to Reuters, McDonald's said it fully exited the Russian market earlier this year. Russian authorities in June said McDonald's has an option to buy back its Russia restaurants within 15 years.

☆ Moscow and other Russian cities are scaling back or canceling New Year parties to spend the money attacking Ukraine
▼ + stars: | 2022-12-06 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Russia's military is still struggling with a number of problems on the frontlines in Ukraine. As a result, some Russian cities have canceled or scaled down their New Year's celebrations. Moscow is still holding a New Year celebration — but it will not include fireworks, its mayor said. In Moscow, Mayor Sergey Sobyanin said the capital would hold a toned-down celebration, forgoing the usual firework show and mass concert. Some Russian activists last week accused him of spending billions on Russia's military while many of them freeze back home, The Daily Beast reported.

☆ A top economist breaks down why he's forecasting a 50% chance of recession next year
▼ + stars: | 2022-11-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In a wide-ranging conversation, Moody's Analytics' Mark Zandi broke down his US recession forecast and how a looming housing correction differs from 2008. The way Mark Zandi sees it, the US is facing a 50% chance of a recession next year, but his baseline forecast actually sounds more optimistic than those odds. "I expect prices to be down 10% peak to trough, with no recession," he said. Bank of America analysts shared one area of the bond market that's set to deliver 13% returns in 2023. A recession presents an opportunity to build wealth as a real estate investor, Mike Zuber explained.

☆ 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.

☆ Russian rouble firms near 60 vs dollar as tax period nears
▼ + stars: | 2022-11-14 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

(Reuters) - The Russian rouble was trading higher on Monday, holding close to last week’s level of 60 against the U.S. dollar as domestic exporters prepared to buy roubles ahead of a new tax period. FILE PHOTO: Russian rouble coin is seen in this illustration taken April 7, 2022. REUTERS/Dado Ruvic/IllustrationThe rouble was up 0.45% against the dollar to 60.27 by 0830 GMT. Export-focused firms usually convert foreign exchange revenues into roubles to pay domestic liabilities, which supports the Russian currency. The dollar-denominated RTS index was last up 1% at 1,169.83, while the rouble-based MOEX Russian index climbed 0.92% to 2,237.85.

☆ Russia says U.S. blocked its participation in nuclear conference
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

A view shows a board with the logo of Russian state nuclear agency Rosatom at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Anton VaganovSummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 21 (Reuters) - The Russian state nuclear corporation Rosatom said on Friday that the United States had effectively blocked Russia's participation in a nuclear energy conference in Washington by failing to issue entry visas. Relations between the United States and Russia have sunk to their lowest level since the depths of the Cold War after Moscow sent its armed forces troops into Ukraine in February. "The American side has effectively blocked Russia's participation in this international IAEA conference, which it undertook to hold in the United States." The corporation plays a large role in the global nuclear industry and, unlike many Russian state enterprises, has not been subjected to Western sanctions over the conflict in Ukraine.

Register now for FREE unlimited access to Reuters.com RegisterThe energy crisis triggered by the war in Ukraine has renewed interest in nuclear power. But without a reliable source of the high assay low enriched uranium (HALEU) the reactors need, developers worry they won't receive orders for their plants. But only TENEX, which is part of Russian state-owned nuclear energy company Rosatom, sells HALEU commercially at the moment. And this chicken and egg conundrum is complicating the smooth development of HALEU supply. "A reliable HALEU supply is one of many factors under consideration," the company said in an emailed statement.

☆ 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: NATO mine destroyer was found at Nord Stream 1 in 2015
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo of Gazprom is displayed on a screen during the Saint Petersburg international gas forum in Saint Petersburg, Russia September 15, 2022. REUTERS/Anton Vaganov/File PhotoMOSCOW, Oct 10 (Reuters) - A spokesperson for Russian energy giant Gazprom (GAZP.MM) said on Monday that a mine destroyer discovered at the Nord Stream 1 offshore gas pipeline in 2015 belonged to NATO. Nord Stream reported on that date in 2015 that a "munitions object" had been cleared by the Swedish armed forces, without giving more detail on the object. Gazprom owns 51% in Swiss-based Nord Stream AG, operator of Nord Stream 1. An international investigation is underway into a rupture, discovered late last month, in the Russian-built Nord Stream 1 and Nord Stream 2 pipelines on the bed of the Baltic Sea.

☆ Factbox: Companies sell their businesses in Russia
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +9 min

The logo of French tyre maker Michelin is seen at a company building in Boulogne-Billancourt, near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier/File PhotoOct 10 (Reuters) - Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they seek to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. Below is a list of firms by sector that have sold their businesses in Russia:AUTOS** British car distributor Inchcape (INCH.L) sold its Russian business to local managementRegister now for FREE unlimited access to Reuters.com Register** Italian truck and bus maker Iveco (IVG.MI) transferred its 33% stake in its AMT truck assembly joint venture in Russia to a local partner** French tyre maker Michelin (MICP.PA) intends to transfer its activities in Russia to a new entity under local management by end-2022** French carmaker Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to a Russian science institute, and transferred all shares in Renault Russia to the city of Moscow** MAN Truck & Bus and Scania, units of German truck maker Traton (8TRA.DE), expect to sell their sales companies in Russia to local partners along with Scania's Russian financing business by Q1 2023BANKS** Britain's HSBC (HSBA.L) agreed to sell its Russian business to Expobank, subject to regulatory approvals in Russia** Czech investment group PPF sold its Russian banking assets, including consumer lender HCFB and its subsidiaries, to investors led by Ivan Tyryshkin** France's Societe Generale (SOGN.PA) sold its Russian business Rosbank (ROSB.MM) to Interros Capital, a firm linked to Russian oligarch Vladimir PotaninCONSUMER ELECTRONICS** Swedish home appliance maker Electrolux (ELUXb.ST) transferred its business in Russia to local management** Its Electrolux Professional (EPROb.ST) branch also sold its Russian business to local management** Whirlpool (WHR.N) sold its Russian operations to Turkey's Arcelik (ARCLK.IS)ELECTRICAL COMPONENTS & EQUIPMENT** Finland's Boreo (BOREO.HE) sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni** U.S. industrial firm Emerson Electric (EMR.N) agreed to sell its Russia business to the local management** Finnish elevator maker Kone (KNEBV.HE) expects to close the sale of its Russian business to local management in Q4 2022** France's Schneider Electric (SCHN.PA) expects to close the sale its Russian unit to local management by end-2022** U.S. elevator maker Otis (OTIS.N) sold its Russia business to local investment firm Ice DevelopmentENERGY** French industrial gases producer Air Liquide (AIRP.PA) agreed to shift its Russian assets to local management, subject to regulatory approvals in Russia** Baker Hughes (BKR.O) agreed to sell its oilfield services business in Russia to local management, with closing expected in H2 2022** Italian utility Enel (ENEI.MI) sold its 56.43% stake in Enel Russia to Lukoil (LKOH.MM) and private fund Gazprombank-Frezia** Norway's Equinor (EQNR.OL) transferred assets of its Russian oil and gas joint ventures to state-owned partner Rosneft (ROSN.MM), and its 30% stake in the Arctic Kharyaga oilfield to state-controlled Russian operator Zarubezhneft** U.S. oilfield services firm Halliburton (HAL.N) sold its Russia operations to a management team made up of former employees** Oil major Shell (SHEL.L) sold its Russian retail and lubricants business to Lukoil** Singapore-based commodities trader Trafigura sold its 10% stake in Vostok Oil project in Siberia to Hong Kong-registered trading firm Nord Axis** Total Energies (TTEF.PA) sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and its 49% stake in Terneftegaz to joint venture partner NovatekFOOD & BEVERAGES** Finland's Atria (ATRAV.HE) sold its fast food business in Russia, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM)** Finland's Fazer sold its Russian unit to Moscow's Kolomenskij Bakery and Confectionery Holding** Irish ingredients giant Kerry Group (KYGa.I) sold its Russian subsidiary to local management and agreed to offload its Belarusian unit to a local operator** Fast food chain McDonald's (MCD.N) sold its Russian business to its licensee Alexander Govor** Finnish food and drinks company Paulig sold its operations in Russia to private Indian investor Vikas Soi** Yum Brands (YUM.N) sold its Pizza Hut business in Russia to a local operator** Finnish food processing firm Raisio (RAIVV.HE) sold its consumer business in Russia to Copacker Agro** Finnish dairy producer Valio sold its Russian business to GK VelkomINDUSTRIAL MACHINERY** Polish measuring devices maker Apator's (APTP.WA) Powogaz unit divested its entire stake in Russia-based AO Teplovodomer** Danish industrial firm Danfoss agreed to sell its Russian and Belarusian business to local management, subject to approval by shareholders and regulatory approvals in Russi

☆ After bridge blast, Putin promises "harsh" response if Ukrainian attacks continue
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +3 min

Russian President Vladimir Putin attends a meeting with members of the Security Council via a video link in Saint Petersburg, Russia, October 10, 2022. "It is obvious that the Ukrainian secret services ordered, organised and carried out the terrorist attack aimed at destroying Russia's critical civilian infrastructure," Putin said of the bridge explosion. Ukrainian Foreign Minister Dmytro Kuleba said: "Putin is a terrorist who talks with missiles." Putin said Russia would respond "harshly" to any further attacks by Ukraine. Ukrainian President Volodymyr Zelenskiy said the rush hour attacks appeared to have been deliberately timed to kill people as well as to knock out electricity.

☆ Gazprom says group's first half core earnings more than doubled to $53 billion
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

The logo of Gazprom is displayed on a screen during the Saint Petersburg international gas forum in Saint Petersburg, Russia September 15, 2022. REUTERS/Anton VaganovMOSCOW, Sept 27 (Reuters) - Russian gas giant Gazprom Group's (GAZP.MM) earnings before interest, taxes, depreciation and amortisation more than doubled in the first six months of the year to 3.05 trillion roubles ($52.54 billion), the company said on Tuesday. It also said its average exporting gas price rose more than 3.5 times in the same period of this year. Gazprom reported last month that it made a record 2.5 trillion roubles in net profit in the first half of 2022 and its board recommended paying interim dividends after skipping the annual payout for the first time since 1998. read more($1 = 58.0500 roubles)Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Chess-World champion Carlsen alleges Niemann has cheated more than he admits
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

read more"So far I have only been able to speak with my actions, and those actions have stated clearly that I am not willing to play chess with Niemann," Carlsen said in a statement on Twitter. "When Niemann was invited last minute to the 2022 Sinquefield Cup, I strongly considered withdrawing prior to the event. I ultimately chose to play," Carlsen said. "I believe that Niemann has cheated more - and more recently - than he has publicly admitted," Carlsen said on Monday. "Chess organisers and all those who care about the sanctity of the game we love should seriously consider increasing security measures and methods of cheat detection for over-the-board chess," Carlsen added.

☆ A Russian crime boss was killed in Ukraine after being recruited from prison to fight in the war, report says
▼ + stars: | 2022-09-25 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

The boss of a Russian crime gang was serving a 23-year jail term when he requested to fight in Ukraine. He went to the frontline by the shadowy Wagner Group, who had been recruiting prisoners to fight. A representative from the paramilitary Wagner Group came to get him, and she said he was sent to the front line on July 25. Businessman Yevgeny Prigozhin, head of the Wagner Group, shows Russian President Vladimir Putin his factory outside Saint Petersburg on September 20, 2010. The Wagner group is variously described as a mercenary outfit, a private military contractor, and Putin's private army.

☆ 'I am leaving Russia': young men flee draft, Finland to restrict entry
▼ + stars: | 2022-09-23 | by ( Essi Lehto | ) www.reuters.com time to read: +4 min

Cars queue to enter Finland from Russia at Finland's most southern crossing point Vaalimaa, around three hour drive from Saint Petersburg, in Vaalimaa, Finland September 23, 2022. Two days later, he was crossing the border into Finland. I am just for freedom, Russia (free) from Putin, democracy in Russia," he said, breaking into tears. Nikita was one of a dozen young men Reuters spoke to at the Vaalimaa border crossing in southeastern Finland, their number growing in the days since Putin announced the call-up of 300,000 military reservists. Traffic into Finland over its border with Russia was heavy on Friday.

☆ Russian anti-draft protesters being ordered to enlist, rights group says
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

Russian law enforcement officers detain a person during a gathering, after opposition activists called for street protests against the mobilisation of reservists ordered by President Vladimir Putin, in Saint Petersburg, Russia September 21, 2022. REUTERS/REUTERS PHOTOGRAPHERLONDON/GDANSK, Poland, Sept 22 (Reuters) - Some Russians detained while protesting against President Vladimir Putin's partial mobilisation have been handed draft papers while in custody, the OVD-Info rights group said on Thursday. OVD-Info said at least 1,310 protesters had been detained, and some had been presented with summonses to enlist. Register now for FREE unlimited access to Reuters.com RegisterUnder Russian law, police have the power to stop people who are thought to be evading mobilisation. Russian TV channel Dozhd said that Artem Kriger, a journalist at the SOTA news site, was given a draft summons after being arrested while covering anti-mobilisation protests in Moscow.

☆ More than 100 detained in anti-mobilisation protests across Russia - rights group
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterPeople gather at a tram stop in front of a board displaying a portrait of Russian service member Sergei Tserkovniy in Saint Petersburg, Russia September 21, 2022. REUTERS/Anton VaganovLONDON, Sept 21 (Reuters) - More than 109 people were detained across Russia at protests against mobilisation on Wednesday, a rights group said, hours after President Vladimir Putin ordered Russia's first military draft since World War Two. The independent OVD-Info protest monitoring group said it was aware of detentions in at least 15 different cities. Unsanctioned rallies are illegal under Russia's anti-protest laws. Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

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