DIRS.INFO The most relevant business & tech news

☆ Russia may run out of money in 2024, says oligarch
▼ + stars: | 2023-03-03 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Russia could find itself with no money as soon as next year and needs foreign investment, outspoken Russian oligarch Oleg Deripaska has said. Putin praised the resilience of the country’s economy in the face of unprecedented Western sanctions imposed in the past year. Russia’s economic output shrank 2.1% last year, according to a preliminary estimate from the government. But cracks are starting to show — Russia is cutting oil production this month — and Western sanctions could escalate further. Ultimately, Russia’s economic prospects are contingent on what happens in Ukraine.

☆ Russia may run of out money next year and needs foreign investors due to 'serious' pressure from sanctions, oligarch warns
▼ + stars: | 2023-03-02 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Aluminum tycoon Oleg Deripaska warned Thursday that Russia may run out of money in 2024. Deripaska said Russia needs foreign investors due to "serious" pressure from western sanctions. Deripaska, who founded Rusal, one of the world's biggest aluminum producers, said the gloomy economic outlook was due to "serious" pressure from western sanctions, per the report. The US has imposed more than 2,700 sanctions against Russia, more than any other country, according to the Atlantic Council's database. He told the forum that Russia needed to ensure a safe business climate for foreign investors, Bloomberg reported.

☆ Russia's Tinkoff banking app removed from App Store
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 2 (Reuters) - Sanctioned Russian digital lender Tinkoff Bank said on Thursday its mobile applications had been deleted from Apple's App Store, following the imposition of European Union sanctions last week. Tinkoff was forced to suspend trading in euros following the sanctions on Monday, and has now had its app removed from the App Store, it said. Tinkoff's brokerage app, used by millions of Russian retail investors, had also been deleted from the App store. As a branch-less digital-only bank, Tinkoff has millions of clients rely on its online services for their daily banking needs. Tinkoff said it was working on a solution to allow users to download their app again in the future.

☆ Russia's Tinkoff bank to suspend trading in euros from Feb 27
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: +1 min

Feb 26 (Reuters) - Russian online bank Tinkoff, run by TCS Group Holding (TCSq.L), said on Sunday it would suspend trading in euros from Monday following the imposition of a further set of European Union sanctions. The package includes cutting off more banks, among them Tinkoff and the private Alfa-Bank, from the SWIFT global payments system. Euro trading will be suspended from Feb. 27, 2023," Tinkoff said in a statement, adding that trading in other currencies would not be affected. In a separate statement, Tinkoff said it had prepared counter-measures to the sanctions which would allow a transfer of assets to a new non-sanctioned company within three weeks. Tinkoff Bank was set up by entrepreneur Oleg Tinkov, who has become an outspoken critic of President Vladimir Putin and Russia's invasion of Ukraine.

☆ Russian oligarchs' superyachts have avoided the US west coast and the Mediterranean since Russia invaded Ukraine, heat maps show
▼ + stars: | 2023-02-25 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

Russian oligarchs' superyachts were detected in different regions after the Ukraine war began. Heat maps show oligarchs' yachts have avoided America's west coast and the Mediterranean. The MediterraneanSpire MaritimeSpire's data found that the Mediterranean was a hotspot for Russian oligarchs' superyachts before Russia invaded Ukraine. Turkey still offers a safe haven for Russian oligarchs' assets because it's yet to sanction Russia for its aggression against Ukraine. Arabian SeaSpire MaritimeSpire's data also honed in on the movements of Russian oligarchs' yachts around the Arabian Sea.

☆ U.S. State Department sanctions target Russian cabinet ministers, nuclear arms firms
▼ + stars: | 2023-02-24 | by ( Jonathan Landay | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 24 (Reuters) - The U.S. State Department on Friday marked the first anniversary of Russia's invasion of Ukraine by sanctioning more than 60 top Russian officials, including cabinent ministers and regional leaders, and three enterprises that run the country's nuclear weapons program. The department said it also was imposing sanctions on scores of other Russian officials and entities and Russians involved in the theft of grain from Ukraine. Tens of thousands of Ukranian civilians and troops have died in the war ignited by Russia's invasion, millions have been driven from their homes and villages, towns and cities destroyed. All of those sanctioned were being targeted under an executive order authorizing "sanctions with respect to specified harmful foreign activities" of the Russian government, the department said. Under the sanctions, any U.S. property owned by those designated or controlled on their behalves by a U.S. citizen are blocked.

REUTERS/Carlos OsorioOTTAWA, Feb 24 (Reuters) - Canada is sending four more Leopard 2 battle tanks to Ukraine and is imposing new Russia-related sanctions, Prime Minister Justin Trudeau said, marking the first anniversary of Russia's invasion of Ukraine on Friday. The delivery would bring to eight the total number of Leopard 2 tanks Canada has pledged to Ukraine. Canada will also provide an armored recovery vehicle and over 5,000 rounds of 155 mm ammunition to help Ukraine in its defense against Russia. Since the start of the war a year ago, Canada has provided more than C$5 billion ($3.67 billion) in support to Ukraine, Trudeau said. Russia's ambassador to Canada Oleg Stepanov said the sanctions by Canada and the West were "meaningless," TASS news agency reported.

☆ Analysis: Russian economy holding up but the road back to prosperity may be long
▼ + stars: | 2023-02-23 | by ( Alexander Marrow | ) www.reuters.com time to read: +6 min

"The Russian economy and system of governance proved to be much stronger than the West supposed," President Vladimir Putin told Russia's political, military and business elite this week. 'GUNS NOT BUTTER'He also argued for sustainable domestic development and a self-sufficient economy, recalling a criticism levelled against Soviet leaders so focused on military spending they ignored people's welfare. But Russia is ramping up military spending, and diverting funds from hospitals and schools will ultimately hamper the development of civilian economic infrastructure. Prokopenko, who also highlighted the opportunity cost to the economy, said Russia's financial leadership had become used to navigating crises. Putin can be proud of his 'Fortress Russia' that his financial leadership built for him," she said.

☆ Ukraine joins world championship boycott over Russian, Belarusian inclusion
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Feb 23 (Reuters) - Ukraine's boxing federation (FBU) has joined a growing boycott of the amateur world championships over the inclusion of Russian and Belarusian boxers, who have been allowed to compete with national flags and anthems. Both competitions are organised by the International Boxing Association (IBA), led by Russian Umar Kremlev. The IBA lifted a ban on Russian and Belarusian boxers competing under their flags last October, against the International Olympic Committee's guidance following Russia's invasion of Ukraine a year ago, for which Belarus was a key staging area. "Our answer is clear - our athletes and representatives of the Boxing Federation of Ukraine do not compete where representatives of the aggressor countries, namely Russia and Belarus, will compete," Ilchenko said. Ukraine's boxers would also boycott next year's Olympic Games in Paris if Russian and Belarusian boxers are present, Ilchenko said.

☆ Merrick Garland's stonewalling about multiple investigations is annoying lawmakers on both sides of aisle ahead of his Capitol Hill visit
▼ + stars: | 2023-02-23 | by ( Warren Rojas | Mattathias Schwartz | ) www.businessinsider.com time to read: +4 min

Lawmakers on both sides of the aisle want Merrick Garland to debrief them about DOJ investigations. Garland is scheduled to join the Senate Judiciary Committee on March 1 for a general oversight hearing — his first of the 118th Congress. In early February, both Durbin and his Republican counterparts leading the House Judiciary Committee requested briefings about McGonigal. The Senate letter requested information from Garland and FBI Director Christopher Wray; the House letter was addressed to Wray but not Garland. "Everything is on the table," a staff member from House Judiciary told Insider.

☆ Russia will not fire Zircon missile at South Africa naval exercise
▼ + stars: | 2023-02-22 | by ( Siyabonga Sishi | ) www.reuters.com time to read: +3 min

[1/5] Russian frigate Admiral Gorshkov and Chinese frigate Rizhao (598) are seen ahead of scheduled naval exercises with Russian, Chinese and South African navies, in Richards Bay, South Africa, February 22, 2023. REUTERS/Rogan WardSummary Russian media reported planned test launch of hypersonic weaponSouth Africa hosting drills with Russia, ChinaWestern diplomats have voiced alarm over drillsRICHARDS BAY, South Africa, Feb 22 (Reuters) - Russia's navy will not fire its new generation "Zircon" hypersonic missile during a joint exercise with South Africa and China, a senior Russian naval officer said on Wednesday, contradicting an earlier Russian media report. A Russian frigate armed with the Zircon weapon system has been deployed to the joint exercise. Along with the Avangard hypersonic glide vehicle which entered combat duty in 2019, the Zircon forms the centrepiece of Russia's hypersonic arsenal. South Africa has defended its decision to host the Mosi II naval exercise despite the concerns of diplomats from European Union and NATO countries.

☆ Australia aligned with other nations on Russia, Belarus athlete ban
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

"The strong links and affiliations between Russian athletes and the Russian military are also of clear concern. Russian Sports Minister Oleg Matytsin said on Feb. 11 that calls from other countries to ban Russian and Belarusian athletes from the Olympics were an "unacceptable" interference in the activities of independent sports bodies. Other international sports federations have allowed Russian and Belarusian athletes to compete on a similar basis since last year's invasion of Ukraine. Ukraine has threatened to boycott the Paris Games if Russian and Belarusian athletes compete. The two statements by the 35 nations last year called for a ban on all Russian and Belarusian athletes from international competition.

☆ Exclusive: British authorities surveilled FBI spy chief Charles McGonigal's secret 2018 meeting with a Russian contact
▼ + stars: | 2023-02-16 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +5 min

An FBI spy chief's secret meeting with a Russian contact was detected by UK officials. McGonigal should have realized that the London meeting would be noticed, one source said. During his years in New York, McGonigal oversaw 150 FBI agents tasked with shadowing foreign operatives and turning them into spies for the US. He would have had intimate knowledge of surveillance penetration in world capitals, which makes the London meeting all the more mystifying. McGonigal had investigated Russian operatives earlier in his career, but it is unclear whether he was involved with the FBI's Deripaska recruitment effort.

☆ Rising tensions with Russia have NATO militaries worried about the revival of a Cold War-era submarine threat
▼ + stars: | 2023-02-16 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +9 min

A top concern is that those subs could be used to attack or interfere with undersea cables and pipelines. Ander Gillenea/AFP/Getty ImagesConcern about Russia's expanding underwater capabilities and the danger they pose to critical underwater infrastructure has risen since Russia seized Crimea in 2014. Since then, Russian submarines have deployed more often and for longer and their activity close to critical undersea infrastructure has increased. Recent Russian submarine activity does suggest an increasing focus on being able to get into the Atlantic and closer to the US East Coast. At a Senate hearing in February 2020, the head of US European Command was asked if US forces have "sufficient visibility" on Russian submarines in the Atlantic.

☆ IOC not on wrong side of history over Russia, says Bach
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - International Olympic Committee (IOC) President Thomas Bach said his organisation is not on the wrong side of history after opening the door for Russian and Belarusian athletes to participate in next year's Summer Games in Paris. Athletes from Russia and its neighbour Belarus have been banned from many international competitions in the wake of Moscow's invasion of Ukraine a year ago. In a letter to Bach last week, Ukrainian athletes said the IOC was "on the wrong side of history" after Bach had urged Ukraine to drop threats of a boycott. When asked if the IOC was on the wrong side of history, Bach told reporters on Sunday: "No, history will show who is doing more for peace. Bach, speaking at the Alpine skiing world championships in Courchevel, France, said the IOC stood in "solidarity" with Ukraine's athletes.

☆ Moscow says calls to ban Russian athletes from Olympics 'unacceptable'
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, Feb 11 (Reuters) - Russian Sports Minister Oleg Matytsin said on Saturday that calls from ministers of more than 30 countries to ban Russian and Belarusian athletes from the 2024 Olympics were unacceptable, TASS news agency reported. A group of 35 countries, including the United States, Germany and Australia, will demand that Russian and Belarusian athletes are banned from the 2024 Olympics, Lithuania's sports minister said on Friday, deepening the uncertainty over the Paris Games. The move cranks up the pressure on an International Olympic Committee (IOC) that is desperate to avoid the sporting event being torn asunder by the conflict unfolding in Ukraine. "This is a direct interference of ministers in the activities of independent international sports organizations, an attempt to dictate the conditions for the participation of athletes in international competitions, which is absolutely unacceptable," Matytsin was quoted as saying by TASS. The IOC has opened the door for Russian and Belarusian athletes to compete as neutrals.

Western policy-makers are still mindful of the supply-chain chaos caused by U.S. sanctions on Russian aluminium giant Rusal and its owner Oleg Deripaska in 2018. A unilateral move to shut out Russian aluminium will accelerate the splintering of what was once a highly globalised market-place. Excess Chinese product in the Asian region is now being supplemented by excess Russian primary aluminium as many Western users choose to self-sanction and not buy Russian metal. Were the United States to impose high tariffs on Russian metal, the LME need only suspend delivery to U.S. locations, a precedent set with the United Kingdom's post-war tariffs on Russian nickel. The LME decided in November not preemptively to ban Russian metal deliveries ahead of formal government action against Russian producers.

☆ Exclusive: The FBI's McGonigal labyrinth
▼ + stars: | 2023-02-08 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +28 min

She never saw McGonigal pay. "The notion that Mr. Deripaska is some proxy for the Russian state is a blatant lie," Ruben Bunyatyan, a spokesperson for Deripaska, told Insider by email. McGonigal was not charged with espionage, and although there is currently no evidence that McGonigal committed espionage, an FBI source told Insider that the investigation is ongoing. At the FBI, McGonigal racked up a string of big cases and promotions. "He said he needed to make more money," Guerriero told Insider.

☆ These heat maps show the dramatic change in the movements of oligarchs' superyachts since Russia invaded Ukraine
▼ + stars: | 2023-02-08 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

☆ A secret Russian satellite has broken apart in orbit, creating a cloud of debris that could last a century
▼ + stars: | 2023-02-08 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

A secretive Russian satellite broke apart in Earth's orbit, the US Space Force said on Monday. Kosmos 2499 launched secretly and made "suspicious" maneuvers to complete a mysterious mission. The 18th Space Defense Squadron said on Twitter Monday that it had confirmed a satellite called Kosmos 2499 had broken apart into 85 pieces. The bizarre behavior led to speculation that Russia was testing technology to follow or wreck other satellites, according to Space.com. The first secret satellite, Kosmos 2491, broke apart in 2019.

☆ Prosecutors Charge Russian Who Managed Oligarch Viktor Vekselberg’s U.S. Properties
▼ + stars: | 2023-02-07 | by ( Dylan Tokar | ) www.wsj.com time to read: +2 min

A U.S. permanent resident who managed Russian billionaire Viktor Vekselberg ‘s properties in Florida and New York has been charged with money laundering and sanctions evasion after fleeing the U.S., federal prosecutors said. Mr. Voronchenko, who was also charged with participating in an effort to sell two of Mr. Vekselberg’s properties, fled the U.S. in May after receiving a grand jury subpoena, prosecutors said. Mr. Vekselberg was sanctioned by the U.S. Treasury Department in 2018. After Mr. Vekselberg was sanctioned, the source of the funds used to maintain the properties changed, prosecutors said. Mr. Voronchenko was served with a subpoena to testify before a grand jury in May while on Fisher Island, prosecutors said.

☆ 'Ultra-patriots' may try to overthrow Putin because of his army's failures in Ukraine, says Russian MP
▼ + stars: | 2023-02-06 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

The biggest threat to Putin is ultra-nationalists, a pro-Kremlin Russian MP said. Oleg Matveychev said "ultra-patriots" could overthrow Putin over his army's performance. He said that for Putin "the situation is not so critical yet, but 2023 will be very dangerous," the Times reported. In Russia he's also faced backlash from pro-war figures, who are unhappy with the army's performance and want even more brutal tactics in Ukraine. A former Putin speechwriter said last month that a coup could happen in Russia as military generals are frustrated at their troops' defeats.

☆ A Swedish-made fighter jet could tip the scales against Russia in Ukraine, but it might not get there any time soon
▼ + stars: | 2023-02-05 | by ( Sebastien Roblin | ) www.businessinsider.com time to read: +16 min

Ukraine's air force remains in the fight almost a year after Russia's shambolic invasion. Sooner or later, Ukraine must induct new jet fighters into service — and they sure aren't buying them from Russia. JAS-39 Gripen: background and capabilitiesA Swedish JAS 39 Gripen at Bobo, Norway in October 2018. A Hungarian Air Force JAS-39 Gripen in August 2010. JAS-39 Gripen vs. F-16A US Air Force F-16 takes off from Aviano Air Base in Italy in June 2020.

Downing Street referred requests for comment to the business ministry, which oversees Companies House, Britain’s public registry of companies. And, in most cases, if foreign companies purchased the property before 1999 or hold UK property in a trust they don’t need to publicly disclose the beneficial owners. The Cyprus-based company, A. Corp Trustee Limited, wasn’t listed on Britain’s new property register as of Tuesday morning. A listing on the UK’s new property register for Hanley Limited identifies the beneficial owner as a Swiss company called Pomerol Capital Sa. Ravellot also wasn’t on the new property register.

☆ Kyiv berates Croatian president for saying Crimea won't return to Ukraine
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

KYIV, Jan 31 (Reuters) - Ukraine's foreign ministry criticised Croatian President Zoran Milanovic on Tuesday for saying Crimea would never return to Ukrainian control, describing his comment as "unacceptable." Russia seized the Black Sea peninsula from Ukraine in 2014 and Kyiv has said it will not abandon efforts to regain control of the region. "We consider as unacceptable the statements of the president of Croatia, who effectively cast doubt on the territorial integrity of Ukraine," Ukrainian foreign ministry spokesperson Oleg Nikolenko wrote on Facebook. In the same statement, Nikolenko thanked the Croatian government and people for backing Ukraine's since Russia's invasion in February last year. Croatian Prime Minister Andrej Plenkovic has openly voiced support for Ukraine.

Search resuls for: "OLEG"

25 mentions found