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COUNTRY INSIGHTS

Natural Gas prices rising in Ukraine
RUSSIA / FSU POLITICS · In Brief · 16 Jan 2021

Since the start of 2021 there have been demonstrations in Ukraine against the hike in natural gas prices. The market has been liberalized. In Ukraine temperatures fall to -20 C at this time of the year.President Zelensky vowed to cut gas prices by 30%. Naftogaz said it will cut prices to USD 0.25...

Sberbank's profit USD 10 billion 2020
RUSSIA / FSU POLITICS · In Brief · 16 Jan 2021

On January 15 Russia's largest bank published its profit for 2020. The profit was 7.7% down on 2019. The bank is state owned and has a market capitalization of USD 88 billion. Profits for Sberbank collapsed in Q2 2020, although they have since rebounded.The bank aimed to make USD 13.6 billion 202...

Russian tax service: our citizens have USD 180 billion abroad
RUSSIA / FSU POLITICS · In Brief · 16 Jan 2021

On January 14 the Federal Tax Service provided an estimate of the assets that Russian citizens hold in other countries. These assets are kept in 700,000 accounts. The figures are based on information reported by Russian citizens in tax returns and information sharing between governments. The true...

Kazakh elections lead to governing party solidifying power
RUSSIA / FSU POLITICS · In Brief · 14 Jan 2021

On January 11 Kazakhstan held a parliamentary election. As expected, the Nur Otan Party won most of the seats in the Mazhilis (parliament). Nur Otan (Radiant Fatherland) still has Nazarbayev as its chairman.The Organization for Security and Cooperation in Europe (OSCE) castigated the election as ...

Moscow children back to school
RUSSIA / FSU POLITICS · In Brief · 14 Jan 2021

On January 14 the Mayor of Moscow announced that schools will reopen. That is because coronavirus infections have fallen to a manageable level. Children shall return to school on January 18. Over 65s will be permitted to move around freely on January 21. The rule on workplaces' having no more tha...

RUB most undervalued major currency
RUSSIA / FSU POLITICS · In Brief · 13 Jan 2021

On January 12 the Economist's "Big Mac" Index proved that the RUB is threefold undervalued. Judging by market exchanges it ought to be worth 24 to the USD and not 73 to the USD, as it is.This index accounts for differences in the standard of living according to GDP per head. The RUB is the most u...

Russia speeding up large scale vaccinations
RUSSIA / FSU POLITICS · In Brief · 13 Jan 2021

On January 12 Russia started public vaccinations at an astronaut training center. Cosmonauts were the top priority of Sputnik V since the space program is a huge source of national pride. A space mission is due to be launched in April 2021.On January 13 massive public vaccinations were rolled out...

Russia's gold reserves worth more than its USD holdings
RUSSIA / FSU POLITICS · In Brief · 12 Jan 2021

On January 11 the Russian Central Bank (CBR) published statistics showing how its gold reserves have appreciated in value. The report details the situation 6 months ago.In June 2020 Russia had USD 128.5 billion in gold. That was 23% of the country's international reserves. These gold reserves wer...

Kyrgyzstan elects president
RUSSIA / FSU POLITICS · In Brief · 10 Jan 2021

On January 10 it was announced that Sadyr Japarov has been returned to office. He secured almost 80% of the vote. His nearest competitor polled a measly 7%. On the same day the country held a referendum on expanding presidential prerogatives. The expansion of presidential power won by 89% of the ...

German state trying to circumvent Nord Stream 2 sanctions
RUSSIA / FSU POLITICS · In Brief · 10 Jan 2021

On January 6 a German state vowed to expedite Nord Stream 2 by using a climate foundation. Mecklenburg West Pomerania will shield companies building the pipeline. The pipeline will come ashore in that state.A foundation to fund ecological projects will be used. The pipeline will be defined as tec...

Russian e-visa scheme temporarily ended
RUSSIA / FSU POLITICS · In Brief · 09 Jan 2021

On January 8 Moscow announced that its electronic visas will no longer operate until the pandemic is over. 52 countries can take advantage of these e visas. These nations include the EU, China and India. There are fears that North Korea could use them to send laborers to Russia.Most international...

Azerbaijan building airport in recovered territory
RUSSIA / FSU POLITICS · In Brief · 08 Jan 2021

On January 5 it was announced that a new airport will be built in Fuzuli. This district was only retaken from Armenia 2 months ago. There remains much demining to be done. The government is keen to keep reminding people of the victory of 2020.The liberated City of Susa is to be the cultural capit...

Serbia starts using Russian vaccine
RUSSIA / FSU POLITICS · In Brief · 08 Jan 2021

On January 6 Serbia commenced vaccinating people with Sputnik V. Politicians are the first to receive it even if they are not high risk. The purpose of this is to reassure the public that the vaccine is safe. Belarus is the only other country in Europe using Sputnik. The WHO and the European Medi...

US accuses Russia of data breach
RUSSIA / FSU POLITICS · In Brief · 08 Jan 2021

On January 6 Washington said that Moscow perpetrated the SolarWinds attack. The breach affected government and private sector security. Trump said it was China. However, other cabinet members blame Russia.The FBI, DNI, NSA and Cybersecurity and Infrastructure Security Agency all blamed Russia. It...

US sanctions force Norwegian company out of Nord Stream 2
RUSSIA / FSU POLITICS · In Brief · 06 Jan 2021

On January 4 DNV GL announced that it will no longer provide verification services for the pipeline. The company provided technical and safety certificates. The company had been working on the pipeline for 5 years. It will be hard to find a company to replace this one.The US passed a law called P...

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