SPB Exchange partners with Refinitiv as IPO approaches

Theo Normanton in Moscow November 18, 2021

The Russian economy grew 4.3% y/y during the third quarter, but the post-coronavirus recovery is almost over

bne IntelliNews November 18, 2021

The Russian economy grew 4.3% y/y during the third quarter, but the post-coronavirus recovery is almost over. The result was below Bloomberg consensus (+4.5% y/y) and much slower than the second-quarter result.

Poland’s judiciary slides down global independence ranking

Wojciech Kosc in Warsaw November 18, 2021

Poland drops from 118th to 61st in the global ranking of the countries with the highest risk to judicial independence, overtaking Hungary as the worst-performing country in the EU.

Fans revive Durov brothers’ failed cryptocurrency

Theo Normanton in Moscow November 18, 2021

Toncoin was originally the brainchild of Russia’s social media tycoons the Durov brothers. It was taken over by an open community of developers, and is now worth upwards of $20bn.

KYIV BLOG: Don't believe the hype

Ben Aris in Berlin November 17, 2021

British Prime Minister Boris Johnson caused a stir on November 15, saying that Europe has to choose between buying Russian hydrocarbons or backing Ukraine. But as Ukraine reports there are no troops, these comments are more about hype than threat.

Sberbank extends additional $800mn in 7-year loans for Turkey's first nuclear plant

Akin Nazli in Belgrade November 17, 2021

Pace of construction said to have reached next level. But controversies at the building site have become a matter of everyday news for Turks.

COMMENT: Talk of war increases long-standing tensions between Russia, Ukraine, Belarus and Nato

Leonid Ragozin in Latvia November 17, 2021

International headlines featured the word “war” with alarming frequency in recent days. It came in different contexts, but inevitably involved Russia as a key party. That makes it all the more alarming because Russia is not just any other country

Stranded migrants clash with Polish soldiers on border with Belarus

Wojciech Kosc in Warsaw November 17, 2021

Migrants stranded between Belarusian border guards and Poland’s border fence guarded by military and police began rioting on November 16 in what Polish authorities described as an “attack on Poland”.

Russia’s ruble exchange rate disregarding talk of troops on the Ukrainian border so far

Ben Aris in Berlin November 16, 2021

The ruble’s exchange rate to the dollar has acted a fairly good barometer for the level of geopolitical tensions in the last two years. But it has shrugged off recent talk of troop build-ups on Ukraine's border and a possible invasion.

Russia strikes deal on Iran's multi-trillion dollar Chalous gas field as ‘final act securing control over European energy market’

bne IntelIiNews November 16, 2021

Tehran said to be expecting geopolitical payoff by giving up control of field that makes Iran holder of world’s biggest gas reserves.

German regulator Bundesnetzagentur suspends the approval of Nord Stream 2 gas pipeline, gas prices spike

bne IntelliNews November 16, 2021

In a surprise decision, the German Bundesnetzagentur, responsible for awarding the certification that would allow the controversial Nord Stream 2 gas pipeline, has suspended the process, killing off hopes for an early start to the pipeline's work.

FSUOGM: Sechin warns of energy “super cycle”

bne IntelliNews November 16, 2021

Russia’s state-owned Rosneft has followed other oil and gas majors in reporting a surge in profits in the third quarter on the back of higher prices, with its CEO Igor Sechin predicting a “super cycle” in energy markets.

bneGREEN: Coal emerges down, but not out, from Glasgow

Richard Lockhart in Edinburgh November 16, 2021

The COP26 conference finished 26 hours late on November 13, with a last-minute intervention by India watering down the final agreement’s commitment on coal.

EU slaps Belarus with new sanctions for stoking migration crisis at Poland’s border

Wojciech Kosc in Warsaw November 16, 2021

A list of people and entities to be hit by asset freezes and travel bans is expected to be finalised in the coming weeks.

Russia's Sber pulls out of VK ( stake, JVs overshadowed

bne IntelliNews November 15, 2021

Russia's largest lender Sber has sold its 36% stake in MF Technologies, which controls 57.3% of VK (former Group) for RUB12.8bn ($175mn) to Gazprombank.

EU to expand the scope of sanctions on Belarus as migrant crisis deepens

bne IntelliNews November 15, 2021

EU foreign ministers in Brussels said on November 15 they will expand the scope of sanctions on Belarus in response to the migrant crisis on the border with Poland, where thousands of refugees are trapped in rapidly deteriorating conditions.

STOLYPIN: The West’s response to Lukashenko’s migrant gambit might seal Belarus’ fate

Mark Galeotti November 15, 2021

Moscow’s problem is that having thrown their weight behind Lukashenko, they are stuck with him. It can't control the dictator but nor does it want to take over Belarus.

NEMETHY: Is bitcoin the new gold?

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors November 15, 2021

Much has been written about how bitcoin has taken lustre and market share from gold over the past decade. But has the death of gold been much exaggerated?

Savitsky’s museum, the Louvre of the Steppe

Ben Aris in Nukus November 14, 2021

The small town of Nukus in the wastes of Uzbekistan’s Qizilqum (aka Kzyl-Kum) desert is the “Louvre of the Steppe.” The new building houses an Aladdin’s cave of lost Russian impressionist art, rescued from Stalin's terror of the 30s.

Digital divide adds to multi-speed recovery from coronavirus finds EBRD

Clare Nuttall in Glasgow November 13, 2021

New EBRD Transition Report warns there is a widening gap between economies that have stepped up their use of online and digital services and those that have fallen further behind.