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Monthly Archives: July 2014

Ukraine and EU sign free trade zone deal

Ukraine has signed the economic part of the Association Agreement with the EU, with Georgia and Moldova also joining the pact, even though big economic risks lie ahead. The signing of the economic part of the agreement comes after 8 months of violent unrest in Ukraine, which broke out in Kiev and …

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Russia reported to be cancelling duty–free trade with Ukraine

The duty-free trade deal between Russia and Ukraine is coming to an end. Russia says fundamental changes mean that it will invoke Article 62 of the Vienna Declaration to terminate the understanding. The move comes as Russia insists it needs to protect domestic markets after Ukraine signed the Association Agreement on June …

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Sky not the limit: AirBaltic first airline to accept bitcoin

Bitcoin’s latest expansion is into commercial airspace after Latvian airline airBaltic announced customers can start using bitcoins to pay for tickets. AirBaltic is the first airline to offer a bitcoin payment option. “Introducing the bitcoin payment option is a part of our innovative approach to service with a central focus …

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$200 per barrel oil if Russia sanctions escalate- Oxford Economics

If the standoff with Russia and the West reaches a point where the EU has to completely cut trade with Russia, oil prices could soar above $200 per barrel, sparking a global economic crisis, says Adam Slater, senior economist at Oxford Economics. Cutting off trade with Russia, the world’s second …

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Artgeni 2014 held at Ethnographic Museum with Healthy Water Support

Artgeni 2014 Festival traditionally took start at the Ethnographic Museum in Tbilisi on July 20. One of the supporters of the festival is Company Healthy Water (Tskali Margebeli). The festival guests had the opportunity to taste Margebeli Products as well as Nabeghlavi and Bakhmaro, unique waters of Healthy Water Company. …

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Russia’s State VTB Bank to Strengthen Positions in Georgia and Ukraine

VTB to Decapitalize VTB Bank Georgia Russian ВТБ plans decapitalization of the subsidiary banks in Georgia and Ukraine. Russian state credit organization made official statement about it/ Increase of the authorized capital of Georgian subsidiary VTB Bank Georgia is planned by 116,24 million GEL ($65,5 million). Authorized capita of Ukrainian …

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Gas condensate shares 44 percent of Iran’s total oil export

Iran’s gas condensate exports reached 5,784 tons during first quarter of Iran’s fiscal year, indicating a 2.4 times increase year to year. The International Energy Agency’s monthly reports indicates that Iran’s crude oil and gas condensate exports together were 1.11, 1.36 and 1.08 million barrels per day during April, May, …

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Iran ups exports to Azerbaijan

Iran has increased the export of good to neighboring Azerbaijan. Iran has exported goods worth $11.412 million to Azerbaijan in the form of suitcase trade in the first quarter of the current Iranian fiscal year (March 21 – June 20), which indicates an increase by 13 percent compared to the …

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Azerbaijan, EU discuss energy resources

Cooperation prospects between European Union (EU) and Azerbaijan were discussed in an event held under the EU`s regional energy co-operation program (INOGATE). The event co-organized by Azerbaijan`s Ministry of Energy and INOGATE Technical Secretariat was held in Baku on July 17, AzerTag news agency reported. The participants discussed a range …

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SOCAR launches new filling station in Ukraine

Azerbaijan’s state energy company SOCAR has launched a new filling station in the Ukrainian Cherkassy region. This is the sixth SOCAR filling station in Cherkassy region, providing additional jobs for 22 people, SOCAR said on July 22. The new complex is located at the entrance to the city of Uman. …

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