Eastern Europe / Features

Russian energy export revenues up 40% in May despite sanctions

bne IntelliNews June 14, 2022

Despite the West’s push to phase out Russian energy imports and deprive the Kremlin of revenues to finance its war in Ukraine, the country’s export revenues were in fact up by almost 40% year on year in May.

Fate of Russian Arctic megaproject Vostok Oil up in air amid sanctions, EU embargo

bne IntelliNews June 13, 2022

A year ago, Rosneft’s Vostok Oil megaproject in the Arctic was heralded as the next frontier for Russia’s oil industry and the biggest investment since the 1970s. Today Russia is sanctioned and the mega-project is unlikely to happen.

Russia preparing for second Africa Summit to build closer ties as it pivots away from the West

Ben Aris in Berlin June 12, 2022

Russia is preparing for the second Russia-Africa summit, scheduled for October-November 2022 in Addis Ababa, Ethiopia, as it steps up its campaign to move closer to the African countries and pivot away from the West.

Sanctioned Russians appeal to EU courts

bne IntelIiNews June 10, 2022

Over 20 Russians are appealing against sanctions imposed on them since the start of the war by the EU. Those challenging their sanctions include oligarchs such as Abramovich and Fridman, as well as industrialist Melnichenko and executive Konov.

The Fourth Russia – Green Ukraine

Ben Aris in Berlin June 10, 2022

The energy crisis that has wracked Europe since the EU began to cut itself from Russian energy five years ago has had a silver lining. It has driven the transfer to renewables much faster than anyone could have hoped, nowhere more than Ukraine

The Fourth Russia – the energy wars

Ben Aris in Berlin June 10, 2022

The biggest change to the world over the last five years since the war in Ukraine ended is the remaking of the world energy order. While the West reorientated itself away from Russian oil and gas, it couldn't wean itself off Russian energy entirely.

Global red warning lights are flashing as stagflation looms

Ben Aris in Berlin June 9, 2022

The conflict in Ukraine and high inflation threaten the global economy with stagflation similar to that experienced in the 1970s, according to a new World Bank forecast.

The Fourth Russia – Gorbushka is back

Ben Aris in Berlin June 9, 2022

On a warm day in June the crowds throng the Gorbushka electronics and media market in the Fili Park in west Moscow. The new iPhone XX is out and it would be impossible to find it in Moscow if it were not for Gorbushka's tables.

Ukraine’s banking sector weathering the storm for now

Ben Aris in Berlin June 8, 2022

Ukraine’s banking sector has been weathering a string of storms, from the coronavirus pandemic to a full-scale invasion by Russia, with remarkable strength, but in the last two months the shocks are starting to have an effect.

The Fourth Russia – the new world order

Ben Aris in Berlin June 7, 2022

The year is 2027 and it is five years since Russia invaded Ukraine. Just how much progress has the country made since then and just how much damage has the extreme sanction regime imposed on Russia done?

CONFERENCE CALL: Globsec basks in Putin's humiliation

Robert Anderson in Prague June 6, 2022

In contrast to previous conferences of the Bratislava-based security think-tank, there was a feeling that the West is no longer on the back foot and that now is the time to press home its advantage.

PROFILE: Dmitry Konov, the Russian executive appealing against sanctions

bne IntelIiNews June 3, 2022

Konov is part of a group of executive innovators who have reformed post-Soviet private companies into high-performing players but who have found themselves sanctioned by the EU.

Russian focus on Severodonetsk leaves Kherson susceptible to Ukrainian counter-offensives

Dominic Culverwell in Berlin June 2, 2022

Russia’s intense focus on capturing cities in Eastern Ukraine, particularly the major assault on Severodonetsk, has left Russian troops vulnerable to Ukrainian counter-offensives in the Kherson region.

Russian forces in Donbas push Ukraine troops to the limit

Neil Hauer southeast of Bakhmut May 30, 2022

Moscow is now making steady progress in Donbas, bne IntelliNews’ correspondent reports from outside Bakhmut, the latest target of the Russian offensive.

Ukrainian refugees in Poland to lift economy but will not cure demographic woes

Wojciech Kosc in Warsaw May 30, 2022

Poland has long struggled with a huge undersupply of labour, but while the influx of 1.5mn Ukrainians will meet the needs of sectors, the impact will be uneven.

Russian banking business starts to return to normal but sanctions headaches persist

Ben Aris in Berlin May 29, 2022

By the end of April the acute phase of the crisis induced by the start of the war in Ukraine was clearly coming to an end. The financial system had a shock but fast action by the CBR prevented a crisis.

Russia seeks ‘new Mariupol’ in the Donbas

Meduza May 26, 2022

Since mid-April, Russia has focused on capturing the Donbas. In the last week it seems as if Ukraine’s leadership is preparing the nation for a major defeat.

EU’s credibility on the line over enlargement

Clare Nuttall in Glasgow May 26, 2022

Austria’s foreign minister calls enlargement the EU’s biggest geopolitical instrument – but will member states use it to encourage candidates and would-be candidates at the upcoming EU Council?

Meet the latest Russian tycoon to be promoted to the Premier League

bne IntelIiNews May 25, 2022

AFC Bournemouth won promotion to the Premier League this season. The club has seen remarkable success since it was bought by Russian petrochemicals trader Maxim Demin, but its owner is yet to give any interviews in English.

Ruble falls to below RUB60/$1, putting pressure on the Russian budget in 2022

Ben Aris in Berlin May 24, 2022

Russia’s ruble continued to rally strongly, dropping below the psychologically important RUB60 to dollar barrier again this week, its strongest level in four years. Russia’s national currency has been on a wild ride that will hurt the budget.