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Russian business & finance

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  • Wednesday, 27 September, 2023
    Binance
    Cryptocurrency exchange Binance to exit Russia

    World’s largest crypto marketplace sells local business to a venue that launched on Tuesday

    Montage of Binance logo and Moscow skyline
  • Wednesday, 27 September, 2023
    Ziyavudin Magomedov
    Jailed oligarch accuses TPG of colluding with Kremlin to seize $14bn assets

    Ziyavudin Magomedov says US buyout group unlawfully sold stake in port business

    Ziyavudin Magomedov behind bars during a court hearing
  • Wednesday, 27 September, 2023
    Currencies
    Russia is increasingly using China’s currency to evade sanctions Premium content

    Also in this newsletter: why Bosnia should get rid of its Serb separatist leader before joining the EU

    An illustration shows the 100 Chinese yuan or Renminbi (RMB) note
  • Tuesday, 26 September, 2023
    Industrial metals
    Glencore traded thousands of tonnes of Russian copper through Turkey

    Shipments via third countries obscure Europe’s true reliance on Russian commodities

    A worker inspects copper cathode and anode sheets in an electrolytic tank at the Uralelectromed copper refinery, Verkhnyaya Pyshma, Russia
  • Monday, 25 September, 2023
    Oleg Deripaska
    Russia has proved resilient to western sanctions, says Deripaska

    Metals oligarch tells FT of his ‘surprise’ at performance of economy in wake of invasion of Ukraine

    Oleg Deripaska
  • Sunday, 24 September, 2023
    Russia dodges G7 price cap sanctions on most of its oil exports

    Shift in seaborne trade suggests Kremlin will benefit from rising prices despite west’s $60-a-barrel cap

    A Russian cargo ship carrying crude oil docked at Karachi port in Pakistan
  • Thursday, 21 September, 2023
    Gillian Tett
    The dilemma over transferring Russian assets to Ukraine

    There is a risk of undermining faith in dollar holdings and reducing western leverage in dealings with Moscow

  • Thursday, 21 September, 2023
    Energy sector
    Russia puts squeeze on oil market with diesel export ban

    Curbs raise concerns Kremlin is ‘repeating playbook’ by again weaponising energy supplies

    A petrol station in Russia
  • Monday, 18 September, 2023
    News in-depth
    Billions of dollars in western profits trapped in Russia

    Businesses from ‘unfriendly’ countries have amassed more than $18bn in earnings since the start of the invasion of Ukraine

    Montage of various corporate logos and the Kremlin
  • Friday, 15 September, 2023
    Diamonds and gemstones
    G7 governments to announce bans on Russian diamond imports

    Proposals would reshape global market for the precious stones, but implementation will divide industry

    The global natural diamond jewellery market is estimated to be worth $74bn in 2023
  • Wednesday, 13 September, 2023
    War in Ukraine
    EU lifts sanctions on three Russian tycoons targeted after Ukraine invasion

    Delistings are most prominent since Russia annexed Crimea in 2014

    Ozon chief executive Alexander Shulgin
  • Monday, 11 September, 2023
    LexSberbank
    Sberbank: bank’s strong numbers point to weakness of sanctions Premium content

    Chief executive’s optimism puts a good face on Russia’s economy

    People walking through Red Square in Moscow
  • Friday, 8 September, 2023
    AB Volvo
    Volvo Trucks’ Russian assets transferred to local investor

    Swedish company latest group to exit country following its invasion of Ukraine

    Picture shows the Volvo Trucks plant outside Kaluga in Russia
  • Thursday, 7 September, 2023
    Lex
    Russia/Ukraine: companies weigh investor disapproval with cost of exit Premium content

    If the cost of staying is negligible, the withdrawal of western business will continue as a slow retreat

    Protesters holding placards urging Unilever to quit its Russia business demonstrate outside the Unilever headquarters in London
  • Thursday, 7 September, 2023
    British American Tobacco PLC
    BAT sells Russian business to local management

    Group becomes latest company to part ways with country following its invasion of Ukraine

    A picture showing someone smoking in from of the BAT logo
  • Wednesday, 6 September, 2023
    War in Ukraine
    ECJ rules sanctions on Russian tech boss should be lifted

    First time measures against businessman sanctioned over Ukraine have been revoked

  • Wednesday, 6 September, 2023
    Russian politics
    Behind the Money Podcast: The Russian Banker

    He says he is being politically persecuted by Moscow. The US granted him asylum. But does his story hold up? A new podcast series investigates

  • Monday, 4 September, 2023
    War in Ukraine
    Here comes Russia’s corporate hit list

    Putin’s naming of companies from unfriendly countries will pave the way for asset seizures, says Russia watcher

  • Monday, 4 September, 2023
    War in Ukraine
    Turkey’s Erdoğan says grain deal to be revived ‘soon’ after talks with Putin

    Russian leader offers different interpretation and insists Moscow will not re-join until the west meets its demands.

    Vladimir Putin, left, welcomes Recep Tayyip Erdoğan to Sochi
  • Monday, 4 September, 2023
    LexChinese business & finance
    China banks: renminbis for Russia heighten secondary sanctions risk Premium content

    Beijing’s mission to promote the currency could end up hurting Chinese lenders

    Blocks of renminbi notes being stacked
  • Sunday, 3 September, 2023
    Chinese lenders extend billions of dollars to Russian banks after western sanctions

    Beijing has pushed renminbi as alternative global currency to dollar

    An ICBC branch
  • Thursday, 31 August, 2023
    Free LunchChris Cook
    The paperwork problem with the Russian oil price cap Premium content

    Moscow is benefiting from bad mechanism design

    Tanker wagons at an oil terminal in russia
  • Wednesday, 30 August, 2023
    EU energy
    EU imports record volumes of liquefied natural gas from Russia

    Belgium and Spain are world’s second and third-biggest importers of Russian LNG this year

    An LNG terminal at Zeebrugge, Belgium
  • Tuesday, 29 August, 2023
    War in Ukraine
    Germany arrests alleged Russia drone supplier

    Waldemar W is accused of providing components for Orlan-10 unmanned aerial vehicles used by Russian forces in Ukraine

    Demonstration of fragments of an unmanned aerial vehicle used by Russia against Ukraine
  • Sunday, 27 August, 2023
    War in Ukraine
    Russian billionaire pleads for EU sanctions relief after decrying war

    Request from Yandex co-founder Arkady Volozh is test of whether bloc will reward Russians who break with Kremlin

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