Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Business in Brief

Putin Hints at Bank Help

President Vladimir Putin said Sunday that the government could support liquidity in the country's banking system, RIA-Novosti reported.

The government will not rule out the possibility of supporting Russian banks in "maintaining their liquidity" if the need arises, Putin said at a conference in Sydney, the agency reported.

Putin said he was aware of signs that could "alarm" the world's financial markets and that government support would be a "significant stabilizing factor" for the country's banks, RIA-Novosti said. (Bloomberg)

Gazprom Eurobond

Gazprom has mandated Citigroup and Societe Generale to arrange jointly a euro-denominated eurobond, Interfax quoted a banking source as saying Friday.

"This will be a benchmark bond, as always," the source was quoted as saying.

In August, the firm sold $1.3 billion of a 30-year benchmark dollar eurobond 225 basis points over comparable U.S. Treasury notes after putting it off several times amid volatile market conditions. (Reuters)

Russneft Loans Reviewed

Sberbank, the country's largest bank, may demand early repayment of about $1.7 billion in loans to oil producer Russneft, RIA-Novosti news agency reported Friday, citing unidentified Sberbank lawyers.

Russneft borrowed $1 billion and 17 billion rubles ($660 million) from Sberbank, using its shares as collateral, before Russneft's stock was frozen by a court, the agency said. (Bloomberg)

Gas Exports to Asia

The country's natural gas exports to China and South Korea will reach 25 billion to 50 billion cubic meters per year from 2020, the Industry and Energy Ministry said Friday.

Meanwhile, exports of liquefied natural gas to countries in the Asia-Pacific region are expected to reach 21 bcm per year from 2020, according to the east Siberian gas program confirmed by the ministry. (Reuters)

Sugar Imports Up 17%

Russia imported 2.3 million tons of raw sugar in the first seven months of the year, 16.8 percent more than in the same period last year, data from the Federal Customs Service released Friday showed.

Imports soared from the start of the year on expectations of a higher seasonal tariff, which failed to materialize.

The country's sugar lobby is now trying to persuade the government to adopt a tariff of $220 per ton from December to the end of May 2008. (Bloomberg)

Aluminum Exports Fall

Russian aluminum exports outside the Commonwealth of Independent States totaled 2.3 million tons in the first seven months of the year, down 7.5 percent from year-earlier volumes, Federal Customs Service data released Friday showed.

The data showed that higher prices meant the value of exported metal rose 24 percent to $4.6 billion. (Reuters)

Wheat Exports Jump 30%

The country's wheat exports to countries outside the Commonwealth of Independent States from January through July rose 30.1 percent from the same period a year earlier, and dollar revenues more than doubled, customs data released Friday showed.

Russia exported 4 million tons of wheat to countries outside the CIS and 4.4 million in total in the first seven months of 2007, compared with 3 million and 3.8 million, respectively, a year earlier. (Reuters)

2 Siberian Coal Auctions

LONDON -- The rights to explore and mine coal at two Russian deposits in the Chita region will be auctioned by the regional authority Nov. 12, Interfax reported Friday.

The buyers of the Nerchuganskoye hard coal deposit and the Kharamangutskoye brown coal deposit will get 20-year licenses, Interfax said. (Bloomberg)

Kemerovo Coal Output Up

LONDON -- The Kemerovo region increased coal production by 5.9 percent from a year earlier in the first eight months of the year, Interfax reported Friday, citing the regional administration's press office.

The region produced about 119 million tons of coal in the period, the agency said. (Bloomberg)

Fewer Foreign Bank Deals

The Central Bank does not expect foreign lenders to increase their share of the country's banking industry by more than 2 percent in the second half of the year, Mikhail Sukhov, a department head at the Central Bank, said Friday.

Foreign lenders will probably raise their share of local banking assets from 22.5 percent to 23.5 percent by year's end, from 21.5 percent at the end of the first half, Sukhov said. (Bloomberg)

State Weighs Securities

The Development Bank will decide how much to invest in the country's securities market by the end of the year, Deputy Economic Development and Trade Minister Anna Popova said Friday.

The government will meet in October to formulate a strategy for managing development institutions, and the bank's oversight council will make a decision after that, Popova said. (Bloomberg)

No India Defense Payment

India stopped payment on a $150 million contract for airplanes from Russian state arms dealer Rosoboronexport, Kommersant reported Friday, citing unidentified people familiar with the matter.

The contract involves installing the Sea Dragon search and targeting system in five Il-38 airplanes, the newspaper said. Indian officials made the decision after observing a test of the system in the Barents Sea, in which Sea Dragon did not meet their expectations, Kommersant said. (Bloomberg)

Integra to Buy Well Firm

Integra Group, the country's largest publicly traded oil field service provider, has agreed to buy a company that overhauls and repairs wells to benefit from rising investment among oil producers.

The acquisition of Obnefteremont will double Integra's capacity to perform well workovers, Integra executive vice president Mark Sadykhov said in a statement Friday. (Bloomberg)

Non-CIS Ferrous Exports

The country exported 9.7 percent less ferrous metal year on year to countries outside the Commonwealth of Independent States from January through July, but higher prices boosted revenues 17.1 percent, Federal Customs Service data showed Friday.

Russia exported 22.9 million tons of ferrous metals worth $10.5 billion to non-CIS countries from January through July, compared with 25.4 million tons worth $9 billion a year earlier. (Reuters)

More Caucasus Pipelines

ALMATY, Kazakhstan -- Kazakhstan is considering building new oil pipelines from Baku, Azerbaijan, to Black Sea ports in Georgia to boost exports as Russia delays the expansion of an alternative route.

"It is possible to build new pipelines connecting Baku with Black Sea ports on Georgia's coast," Arman Darbayev, executive director of state-run KazMunaiGaz said Friday at a conference in the Kazakh capital, Astana. (Bloomberg)