• Canadian Kinross Gold will sell gold mining assets in Russia

    Canadian Kinross Gold will sell gold mining assets in Russia

    Canada’s Kinross Gold has begun talks to sell its gold mining assets in Russia, the company said on March 30. Kinross says it has received several offers to sell Russian business and is in “exclusive talks with an unaffiliated, non-sanctioned mining company” about the possible sale of all assets in Russia. The press release states that the permission of the Russian government will be required to withdraw from the assets or transfer control. Kinross also said that under agreements with a potential buyer, its companies in Russia continue to operate on a full-time basis, although the Canadian company will not

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  • IEA expects oil production in Russia to fall by 30%

    IEA expects oil production in Russia to fall by 30%

    Due to Russia’s special military operation in Ukraine and related disruptions in oil supplies, global demand for oil in 2022 will increase by only 2.1 million barrels per day (bpd), according to a March report by the International Energy Agency ( IEA). In February, the IEA expected demand to grow by 3.2 million bpd. Global demand, according to the agency, in 2022 will be 99.7 million bpd (the February report said 100.6 million bpd). “The consequences of the potential loss of Russian oil exports to world markets cannot be underestimated. Russia is the world’s largest exporter, supplying 8 million bpd

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  • Ukraine “nationalizes” the cars of the largest Russian companies

    Ukraine “nationalizes” the cars of the largest Russian companies

    Ukrainian Railways (Ukrzaliznytsia, UZ) intends to nationalize Russian freight cars in Ukraine. This was stated on March 15 by Chairman of the Board Alexander Kamyshin, whose words are quoted on the company’s website. “At the first stage, we are compiling a list of car owners who have Russia among their founders. Then there will be the Cabinet of Ministers, the National Security and Defense Council (National Security and Defense Council), and a presidential decree [Украины Владимира Зеленского], and another law of Ukraine. The procedure will take time Determining which of the car owners has a share in the capital of

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  • Confectionery prices rise by an average of 20-30%

    Confectionery prices rise by an average of 20-30%

    Major federal and regional retailers have received notifications from confectionery manufacturers demanding higher sales prices for their products from today. Employees of three retailers told Vedomosti about this and confirmed a representative of the Eastern Union alliance (uniting the largest networks in the Siberian and Far Eastern federal districts of Russia – Krasny Yar, Samberi and Slata). Suppliers almost simultaneously notified companies of a 25% increase in prices, and Russian-made confectionery should rise in price more than foreign ones, said one of Vedomosti’s interlocutors. He found it difficult to explain the reason for this. A representative of the Verny chain

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  • Authorities have announced new measures to support farmers

    Authorities have announced new measures to support farmers

    The Russian government is discussing a set of measures to support the agro-industrial industry against the background of imposing sanctions on the country and raising the key rate to 20%. A total of 44 billion rubles is planned to be allocated from the federal budget for the sowing campaign, soft loans and leasing for agricultural producers, according to the plan of priority actions to ensure the development of the Russian economy (Vedomosti read the latest copy of the document). It says that the Ministry of Agriculture and the Ministry of Finance will oversee these issues. The representative of the Ministry

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  • Gasoline is becoming more expensive in Europe due to the energy crisis and geopolitics

    Gasoline is becoming more expensive in Europe due to the energy crisis and geopolitics

    In European countries in January-February 2022, retail gasoline prices rose by an average of almost 7%. According to the platform fuelo.net, in just two months (as of March 1) the cost of a liter of AI-95 at gas stations rose in Romania – by 14.2% to 1.41 euros. The highest prices were recorded in the Netherlands, where on March 1 the price of a liter of AI-95 was 2.15 euros (5.4% more than at the beginning of the year). In Italy, 1 liter costs an average of 1.99 euros (+ 8.5%), in Greece – 1.89 euros (+ 8.3%), in Germany

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  • UC Rusal has stopped the plant in Ukraine

    UC Rusal has stopped the plant in Ukraine

    The UC Rusal company founded by Oleg Deripaska stopped production at the Nikolaev alumina plant in Ukraine against the background of military special operation of Russia, the company reported on March 1. The release explains that production has been temporarily suspended “due to unavoidable logistical and transport problems in the Black Sea and surrounding areas.” “The number one priority for the group remains the well-being and safety of our employees and their families in Ukraine,” the statement said. The Nikolaev alumina plant is located in the southern part of the city of Nikolaev, works since 1980. In 2020 UC Rusal

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  • Grain producers are asking for a refund of export duties

    Grain producers are asking for a refund of export duties

    Grain producers are asking for a refund of floating export duties (damper – “Vedomosti”) in the form of subsidies, as well as to increase the volume of soft loans. The Union of Grain Exporters addressed a letter to Prime Minister Mikhail Mishustin. Vedomosti got acquainted with him. A union representative confirmed his dispatch. Requests to the Russian government and the Ministry of Agriculture went unanswered. In the situation of the current grain damper (the current duty on grain exports is, according to the Ministry of Agriculture, $ 88.2 per 1 ton), farmers can hardly compensate for the increase in the

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