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Tag Archives: Russia

Russia’s VTB Posts August Net Profit, Narrowing Year-to-Date Loss

VTB Bank, Russia’s second-largest lender, remained profitable in August thanks to a higher net interest margin, the bank said Monday. VTB said its net profit for August was 0.4 billion rubles ($6.1 million), which helped lower its year-to-date losses to 14.6 billion rubles. In August last year, when the ruble …

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Governmental Efficiency Quality Highest in 2014, World Bank Research Says

The World Bank has published results of the long-term governance research, in which more than 200 countries are assessed according to six indicators, – Justice Ministry has informed InterPressNews. According to the research, Georgia’s indicators are all increasing. The highest indicators are fixed in the six categories in 2014. As per …

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Tehran and Moscow to Develop Business Cooperation

“Tehran and Moscow are now mulling use of their national currencies in their trade exchanges,” Deputy Chairman of Russian Chamber of Commerce and Industry G.G. Petrov said on Tuesday. Prospects of mutual cooperation between Iran and Russia are very promising and it is expected that existing hurdles would be removed …

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Lukoil is Russia’s Biggest Private Company – Forbes


Russian oil major Lukoil has topped a list of the country’s 200 largest private companies compiled by the Russian edition of Forbes magazine. In the mid-2000s Lukoil was Russia’s biggest oil producer, it’s now second to Rosneft. Lukoil is first among the world’s private oil and gas companies in terms …

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Russia Decreased Tariffs for Goods Imported from Iran

russia iran trade

Russia has decreased tariffs for goods imported from Iran to boost mutual trade, Mehdi Sanaei, Iranian Ambassador to Russia said. Moscow has decreased the customs tariffs from 27 percent to 3-7 percent, Sanaei said, Iran ’s official IRNA news agency reported Sept. 17.The ambassador made the remarks in a meeting …

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Russia May Have its Own Virtual Currency in 2016

The Russian QIWI payment system wants to enter the $3.8 billion virtual currency market by introducing the first national crypto-currency. However, Russian authorities are concerned that the ‘bit-ruble’ could be used for money laundering and bankrolling of terrorism. The launch is scheduled for 2016, but to do that QIWI needs …

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Russian Tourists Spent $315.3 m in Georgia

According to the Georgian Economy Minister Dimitri Kumsishvili, revenues of the tourism industry received from Russian tourists in Georgia amounted to more than $315.3 million in January-August period of 2015. In January-August of 2015 the number of visitors from Russia increased by 15% compared to  the same period of last …

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Boris Nemtsov Posthumously Given American Liberty Award

Boris Nemtsov, the Russian opposition leader who was tragically assassinated last year, was posthumously awarded the American Liberty Award. The Award is annually presented by the International Republican institute in Washington, D.C., Russian service of BBC reports. Nemtsov’s former colleague and Parnas party partner Vladimir Kara-Murza received the Award for …

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Rosneft President: Russia Has Most Energy Potential

Russia can potentially extract 367-508 billion barrels of oil, the President of Rosneft Igor Sechin stated at FT Commodities. “This is significantly larger than not only the U.S. but Iraq, Iran and Saudi Arabia’s oil potential,” he added. According to Sechin, Russia’s hydrocarbon potential is the largest in the world. “Thus, …

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Armenia-Russia Trade Has Shrunk by 14,3% in Seven Months 

The volume of external trade between Armenia and Russia during the January-July period constituted $653,5 million, which is 14,3% less compared to the same period of last year, News Armenia reports. It is worth noting that the trade with Russia represents 24,6% of Armenia’s total external trade.  Export from Armenia …

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