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Cyprus Loses Luster as Mediterranean Haven for Russian Business

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For Russian businesses, Cyprus just isn’t what it used to be. New Cypriot anti-money laundering rules are compounding the effects of U.S. sanctions against Russia and its high-profile citizens, driving money away from the one-time haven. “Russians are downsizing in Cyprus,” said Kyriakos Iordanou, general manager of the Institute of Certified Public Accountants of Cyprus, whose members have clients from ... Read More »

St. Petersburg court upholds customs seizure of Masha Gessen’s new book

FILE PHOTO: Jordanian Foreign Minister Ayman Safadi speaks during a meeting with his Russian counterpart Sergei Lavrov in Moscow, Russia July 4, 2018. REUTERS/Sergei Karpukhin/File Photo

Moscow : In November, Russian lawyer Sergey Golubok received a letter from the Pulkovskaya customs agency asking whether a book he had ordered on Amazon contained “signs of propagandizing certain views and ideologies.” The book in question was journalist and political analyst Masha Gessen’s The Future is History: How Totalitarianism Reclaimed Russia, which won the 2017 National Book Award for ... Read More »

We’ll Help With Russia Sanctions Fall-Out, German Minister Tells Business

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BERLIN : Germany will try to protect German and European companies from some potentially “massive collateral damage” if Washington levies further sanctions against Russia, Foreign Minister Heiko Maas said on Friday. Maas, speaking on Friday at a new year reception of the German Committee on East European Economic Relations, an industry group, said he expected the newly elected U.S. congress ... Read More »

Russia’s business elite seeks to play down Putin links

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Moscow : It is generally accepted that ignoring an official invitation from the Kremlin is not a great way to get ahead in Vladimir Putin’s Russia. But what if turning up is similarly perilous? Such a dilemma might have exercised advisers to Russia’s top executives and oligarchs last week, in the run-up to Mr Putin’s annual get-together with the country’s ... Read More »

Kiev Seizes Copies of Russian Orthodox Church Leader’s Christmas Address

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MOSCOW : Ukrainian customs officers have seized copies of an address by Russian Orthodox Church Patriarch Kirill that was to be read out in Ukrainian churches next Monday when Orthodox Christians mark Christmas, the spokesman for the Russian Orthodox Church said. The spokesman said that the official reason was a breach of “customs formalities.” He added that in this day ... Read More »

Russia rings in New Year with numerous changes to tax code

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MOSCOW: A slew of amendments to Russia’s Tax Code concerning both individuals and legal entities come into force starting from January 1, 2019. The cancellation of property tax for legal entities has become one of important amendments to the Code. First Deputy Minister, Finance Minister Anton Siluanov believes that will serve as a compensation measure for the business sector given ... Read More »

Ukraine may lose 25% of trade turnover with Russia because of new sanctions : expert

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Moscow: Ukraine may lose up to 25% of trade turnover with Russia in 2019 because of Moscow’s new sanctions imposed on Kiev, director of energy programs at the Center of World Economy and International Relations at Ukraine’s National Academy of Sciences Valentin Zemlyansky told 112 Ukraina TV channel on Sunday. “I think that this sanctions list puts an end to ... Read More »

Evidence corroborating a key dossier allegation against Michael Cohen is stacking up

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Investigators have learned that a cell phone traced back to Michael Cohen, President Donald Trump’s longtime former lawyer and fixer, sent signals that ricocheted off cell towers in the Prague area in late summer 2016, McClatchy reported, citing four people with knowledge of the matter. During that same period — around late August or early September 2016 — the outlet ... Read More »

Ukraine Wins New I.M.F. Support as Tensions Rise With Russia

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MOSCOW : Ukraine won a new lending commitment from the International Monetary Fund on Tuesday, a lifeline from the West for a country whose economy has been sapped by corruption and war with Russian-backed separatists. The new loan is a boon for President Petro O. Poroshenko ahead of a presidential election scheduled for March. He announced the decision on his ... Read More »

Morocco Removes Customs Duty on Russian Grain

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Moscow : The Russian ambassador to Morocco, Valerian Shuvaev, has confirmed to Sputnik News that Morocco lowered the grain tax to “zero” for Russia. “Of course, this is good news because Morocco’s grain experts are one of the main Russian exports to Morocco.” He added that Morocco’s decision will give Russia “more opportunity to increase the volume of deliveries and, ... Read More »

Common oil and gas markets, digital economy, customs duties on agenda of EAEU summit

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MOSCOW: A meeting of the Supreme Eurasian Economic Council will be held in St. Petersburg on 6 December. It will be attended by the presidents of the Eurasian Economic Union member states and the president of Moldova, which is an observer country at the Eurasian Economic Union, BelTA learned from the Kremlin press service. “The forthcoming meeting of the Supreme ... Read More »

Iran, Russia-led bloc move toward free trade

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Moscow : Earlier this month, an interim agreement on free trade between Iran and the Eurasian Economic Union (EAEU) was approved at the regional body’s summit in the Russian city of St. Petersburg. After relevant legal procedures in Iran are fully carried out, the deal is expected to take effect as of early 2019. Seen as Iran’s biggest ever deal ... Read More »

Russia-EU Trade Up 21.1% In January-October Year-on-Year – Customs Service

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MOSCOW : The trade between Russia and the European Union grew by 21.1 percent in January-October compared to the corresponding period last year and amounted to about $242.9 billion, according to the data released by the Russian Federal Customs Service. The Russian exports to the European Union totaled $168.9 billion within the given period, an increase of 29.2 percent. Imports ... Read More »

Trump’s business ties to Russia stretch back more than 30 years, from big building projects to beauty pageants

US President Donald Trump and Russia's President Vladimir Putin attend a joint press conference after a meeting at the Presidential Palace in Helsinki, on July 16, 2018. / AFP PHOTO / Brendan SMIALOWSKI

Moscow : An earlier version of this story mischaracterized Donald Trump Jr.’s testimony to the Senate Judiciary Committee ?related to the timing of Trump Tower talks in Moscow. President Donald Trump’s interest in developing luxury real estate in Moscow stretches back decades, according to court documents, his public statements and interviews with Trump. Trump’s long-standing ties to Russia are back ... Read More »

Oil surges on Saudi-Russia agreement, Alberta production curb

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Moscow : Oil rebounded from the biggest monthly loss in a decade after Russia and Saudi Arabia agreed to extend their deal to manage the oil market into 2019 and Canada’s largest oil producing province ordered an unprecedented output cut. Brent rose as much as 5.3 per cent in London, after prices collapsed more than 20 per cent last month. ... Read More »

Russia crude supply to China surges to record, Iran shipments sink: customs

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Moscow : Russia shipped record volumes of crude oil to China in October as independent refiners continued to fill import quotas, while Iranian oil shipments fell on uncertainty over Washington’s imposition of sanctions on Tehran, data showed on Monday. China’s imports from top supplier Russia jumped 58 percent from a year earlier to 7.347 million tonnes, according to the General ... Read More »

The Kosovo quandary is a win for Russia

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Moscow : For nearly two decades, President Vladimir Putin has been on a mission to make Russia great again – to borrow a phrase from his American counterpart – and to right what he sees as the greatest “wrong” in the country’s recent history: the collapse of the USSR and the loss of its superpower status. In this grand geopolitical ... Read More »

WTO arbitration group to meet on port dispute between EU and Russia

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MOSCOW/GENEVA: TASS/ The EU was able to convene an arbitration group to resolve the dispute between the European Union and Russia in the WTO due to restrictions on imports of pork, the Russian Federation continues to insist on the groundlessness of EU claims, Russian Ministry of Economic Development said in a statement on Wednesday. “As previously reported, at the first ... Read More »

Russian cybersecurity firm Group IB to open global HQ in Singapore: CEO

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MOSCOW: Russian cybersecurity company Group IB is to open a global headquarters in Singapore this year or in early next as part of international expansion plans, chief executive Ilya Sachkov said. Sachkov, 32, is a co-founder of the Moscow-based company which was set up in 2003 and focuses on investigating high-tech crimes and online fraud. Its clients include banks, energy ... Read More »

Russia-US Trade Raises 8.5% Year-on-Year Despite Sanctions : Customs Service

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MOSCOW (Sputnik) – Trade between Russia and the United States increased by 8.5 per cent year-on-year in the first nine months of 2018, compared to the same period last year, and stood at $18,019 billion, according to the data published by the Russian Federal Customs Service (FTS). According to the data, exports from Russia to the United States in the ... Read More »