Wednesday , January 17 2018
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Russia

Russia’s finance minister opposes income tax hike

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MOSCOW: Russia’s Finance Minister Anton Siluanov will not support raising the income tax rate to 15% from 13%, the minister said it on the sidelines of the Gaidar Forum, which is held in Moscow. I’m against it,” RIA Novosti cited him as saying. Earlier, Vedomosti, citing federal officials, wrote that the Presidential administration and several ministries were discussing the possibility ... Read More »

Russia boosts goods import from no CIS countries to $202.3b in 2017

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MOSCOW: Russia increased imports of goods from non-CIS countries in 2017 by 24.3% year-on-year to $202.3 billion, the Federal Customs Service said on Monday. Imports of textiles and footwear surged 27% in December 2017 to $1.1 bln. Imports of food products and raw materials for their production grew by 16.6% to $2.5 bln, products of engineering industry – by 12.3% ... Read More »

Russia keen to expand trade with Sri Lanka

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MOSCOW: The Russian Federation has revealed that its historic longing for Ceylon Tea has not wavered and even vowed for bigger trade with Sri Lanka, calling to dispatch a strong delegation to the trade meet scheduled in Moscow this year, according to Sri Lankan Minister of Industry and Commerce Rishad Bathiudeen. Russia expressed its keenness to expand its trade relations ... Read More »

Russian customs prevents 1.5 tonnes of coins from entering Estonia

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MOSCOW: A foreigner of unspecified citizenship tried to take 25-ruble and 10-kopek coins with a total worth of 4.19 million rubles or approximately 61,200 euros out of Russia, Interfax reported, referring to the Kingissepp customs office. “The 25-ruble coins depicted the emblem of the football World Cup and the text “FIFA World Cup Russia 2018″ and the total weight of ... Read More »

Russian gas return to Ukraine to cost EU traders $1b

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MOSCOW:Companies from Eni SpA to Uniper SE will see combined gas shipments to the east European nation fall by about that amount after a Stockholm court ordered Ukraine to resume some imports from Russia after a break of more than two years. European Union companies first started selling gas to Ukraine in 2013, with the new market helping offset a slump in domestic ... Read More »

Russia has destroyed 19,000MT of food under import ban

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MOSCOW: Russia’s food safety watchdog has released its latest update on the amount of food that has been destroyed as part of an import ban on Western countries that applied sanctions in response to the Crimea conflict. In August, 2015, one year after the ban was put into place, the government decided to start destroying illegal imports in an attempt ... Read More »

Europe becomes victim of Russia’s newest oil strategy

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MOSCOW: Higher shipments of Russian crude oil to China may saddle European importers with a fatter bill, an industry consultancy warned at the end of last year, noting the latest stage of Russia’s Eastern pivot: the launch of the expanded East Siberia-Pacific Ocean pipeline that would lift Urals crude supply to China twofold, to 30 million tons annually. FGE said in a note quoted by Bloomberg ... Read More »

EU takes billion-euro battle to Russia

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MOSCOW:Brussels is ratcheting up pressure on Russia in a tit-for-tat sanctions battle that has raged since the early days of the Ukraine crisis in 2014. The European Union is now pressing to claw back  €1.4 billion each year from Moscow, arguing that the Kremlin unlawfully banned imports of pork meat from Europe in January 2014, just as President Vladmir Putin’s relations with ... Read More »

Russia stays China’s largest crude oil provider for 9 month

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MOSCOW: China’s total crude oil imports rebounded to the second highest on record last month to 9.01 million bpd, with imports partially driven by a new additional batch of import quotas released to independent refiners. (Photo: Reuters) Related News Russia held on as China’s largest crude oil supplier for the ninth month in a row in November, also topping Saudi ... Read More »

Russia’s oil friendship with China makes crude costly for Europe

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MOSCOW: Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market. As the world’s second-biggest economy buys more, crude shipments from Primorsk port in the Baltic region will be cut, according to industry consultant FGE. The reduction will push up the price of varieties available for sale to ... Read More »

Russia risks wrath by ‘supplying fuel to North Korea’

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MOSCOW: Russian tankers have supplied fuel to North Korea on at least three occasions in recent months by transferring cargoes at sea, according to two senior Western European security sources, providing an economic lifeline to the secretive Communist state. The sales of oil or oil products from Russia, the world’s second biggest oil exporter and a veto-wielding member of the ... Read More »

Russia accused of aiding North Korea with 100m gallon oil transfers at sea

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MOSCOW: A statement from the foreign ministry said Russia had “fully and strictly observed the sanctions regime” introduced in a bid to curb Kim Jong-un’s missile testing programme and nuclear ambitions. Moscow spoke out after two separate, unidentified western European security sources alleged ship-to-ship transfers took place in October and November and represented a breach of sanctions. The statement did ... Read More »

Azerbaijan, Russia introduces new cruise

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MOSCOW: The agreement was signed during the visit of the Russian delegation headed by Konstantin Anisimov to Baku.  The agreement provides for joint activities on study and development of optimal routes for cruise passenger vessels, such as ports of the Black Sea – inland waterways of the Russian Federation – Astrakhan – ports of the Caspian Sea; Moscow-Baku; Astrakhan – ... Read More »

Russian Finance Ministry suggests taxation of cryptocurrencies mining

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MOSCOW: The Russian Finance Ministry suggests collecting a tax on mining [of cryptocurrencies – TASS] similarly to taxes on business operations, Deputy Minister Alexei Moiseev told reporters on Thursday. “We categorize mining as a business activity. Sole entrepreneurs or legal entities can deal with it,” the official said commenting on the draft law on regulation of digital financial technologies. The ... Read More »

Russian officials to search vehicle speeds through barrier at customs checkpoint

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MOSCOW: Russian officials are said to be still searching for two men who drove through a checkpoint at the Finnish-Russian border in the early hours of Wednesday morning. One of the men is said to be a Finnish citizen. The incident occurred at the Vaalimaa-Torfyanovka border crossing between Finland and Russia in the southeast at about 2.00am. The men apparently ... Read More »

Russian State Duma to ease imports of APIs

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MOSCOW: The Russian national Parliament (State Duma) plans to approve a bill that will ease imports of active pharmaceutical ingredients (APIs) to the country, according to press-service of the Russian Duma, reports The Pharma Letter’s local correspondent. Under the current Russian legislation, the country’s state register of drugs usually contains information about an active substance of the drug, instead of ... Read More »

Russia holds steady as China’s largest crude supplier for 9 months

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MOSCOW: Russia held on as China’s largest crude oil supplier for the ninth month in a row in November, also topping Saudi Arabia for the year so far, Chinese customs data showed on Tuesday. Shipments from Russia in November reached 5.12 million tonnes, or 1.26 million barrels per day (bpd), up 11 percent from a year ago, according to detailed ... Read More »

Russia holds steady as China largest crude supplier for ninth month

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MOSKOU: Russia held on as China’s largest crude oil supplier for the ninth month in a row in November, also topping Saudi Arabia for the year so far, Chinese customs data showed on Tuesday. Shipments from Russia in November reached 5.12 million tonnes, or 1.26 million barrels per day (bpd), up 11 percent from a year ago, according to detailed ... Read More »

Russia eager to keep up oil ties with Iran

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MOSCOW: Russian Energy Minister Alexander Novak has expressed hope to proceed with oil cooperation with Iran within the framework of exchanging oil for goods. Novak rejected a report that Moscow has bought oil from Tehran noting that the Russian state trading enterprise ‘Promsirieimport’ has not purchased Iran’s oil but it is only brokering between Iran and foreign sides. He said ... Read More »

Belarus, Russia mull over new format for exchanging tax information

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MOSCOW: The Belarusian Taxes and Duties Ministry and the Federal Tax Service of Russia are working on the rules for an automatic exchange of tax information through a secure link. The move will help reduce considerably the time to exchange data between the tax administrations, BelTA learned from the Belarusian Taxes and Duties Ministry. The new format of cooperation was ... Read More »