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How Russia Sank Billions of Dollars Into Venezuela Quicksand

At the end of 2015, managers at Rosneft, the Russian state-controlled oil firm, sounded the alarm to their bosses about the company’s investments in Venezuela. Rosneft’s local partner, Venezuelan state oil company PDVSA, owed it hundreds of millions of dollars, according to internal documents, and there seemed no prospect things would get better. “It will be…

Russia’s Top Banks Plot Temporary Sanctions Workaround

Leading Russian banks are working on plans to help each other retain at least short-term access to the global financial system in the event that they are hit by fresh U.S. sanctions, sources familiar with the matter told Reuters. Sberbank, VTB, Gazprombank and others are examining how they can provide each other with access to U.S.…

Kremlin Seeks Russian-Speaking Migrants to Offset Population Decline

The Kremlin plans to attract up to 10 million Russian-speaking migrants in the next six years to reverse the country’s population decline, the business daily Kommersant reported on Thursday. Russia’s population declined to 146.8 million in 2018, official data released on Thursday estimates, its first decrease in 10 years. Migration has been unable to offset…

Calvey Ends First Month in Detention, Business Leaders Express Concern

As U.S. investor Michael Calvey ended his first month in detention on Thursday prominent Russian businessmen told President Vladimir Putin they are concerned the case will put pressure on business.    Russian state prosecutors have charged Calvey, the founder of the Baring Vostok private equity group, with fraud along with three other executives from his fund.…

Russian Authorities Seal Stalin-Era NKVD Archives

Russia’s intelligence service has refused to declassify the names of members of Stalin’s notorious three-judge panels that issued death sentences without trials, Russian media reported this week. As many as 700,000 people were executed in Stalin’s “Great Terror” of 1937-38, according to conservative estimates. The Memorial human rights NGO keeps a database of some 3…

Russia’s Lavrov Meets Venezuela’s Foreign Minister in Vienna

Russian Foreign Minister Sergei Lavrov is holding talks with Venezuela’s foreign minister in Vienna, the state-run RIA Novosti news agency reported on Thursday.

Venezuela, a close ally of Moscow, is in political turmoil, with the United States and many other Western countries backing opponents of President Nicolas Maduro.

Russia Suspends Boeing 737 MAX Flights — Reports

Russia‘s aviation authority on Thursday suspended flights by Boeing 737 MAX planes in the country’s airspace following Sunday’s deadly plane crash in Ethiopia, the Interfax news agency cited the authority’s head as saying. Russia‘s S7 Airlines said earlier this week it would ground its Boeing 737 MAX 8 planes starting from Wednesday. It said its…

Russia’s Natural Resources Make Up 60% of GDP – Reports

Russia’s Natural Resources and Environment Ministry estimates that the combined cost of the country’s oil, gas and other resources amounts to 60 percent of its gross domestic product, the RBC news website reported on Thursday. As one of the world’s top producers of natural gas and oil, Russia’s economy is heavily reliant on exports of…

Moscow, St. Petersburg Named Europe’s Most Dangerous Cities

Moscow and St. Petersburg have ranked in the bottom 50 of the world’s most livable cities and have been named the two most dangerous cities in Europe, according to rankings from a global consulting firm. Moscow placed 167th and St. Petersburg 174th out of 231 cities worldwide in Mercer’s 2019 Quality of Living Ranking published…

Space Station Crew Confident on Eve of First Launch Since Rocket Failure

Two astronauts who survived a dramatic launch mishap in October said on Wednesday they were confident this time about reaching the International Space Station, though they said a small fault had been discovered on their rocket during final checks. Russian cosmonaut Alexei Ovchinin and U.S. astronauts Nick Hague and Christina Koch are due to blast…

Russia’s FSB Sues Newspaper Over Torture Allegations

Russia’s Federal Security Service (FSB) has filed a defamation lawsuit demanding that the investigative Novaya Gazeta newspaper remove reports that accused the agency of torture, the paper has said. Novaya Gazeta has been the target of several libel lawsuits, the most recent of which came from the former head of the state-run Russian Railways, who…

Russian Lawmakers Send ‘Fake News’ Bill to Putin for Approval

Russian lawmakers passed a controversial set of bills that would make it a crime to “disrespect” the state and spread “fake news” on Wednesday, setting the legislation up for President Vladimir Putin’s signature. The bills amending existing information laws overwhelmingly passed both chambers of Russian parliament in less than two months. Observers and some lawmakers…

Artisans Craft New Icon for Russian Military Cathedral

Artisans are crafting a new icon of “The Savior Not Made by Hands” for a Russian Orthodox cathedral built in honor of the country’s Armed Forces. Kremlin spokesman Dmitry Peskov confirmed that President Vladimir Putin has made a personal donation toward the icon’s production, the RBC news outlet reported on Tuesday, though he declined to…

Russia Plans to Launch Crimea Power Stations on March 18 — Sources

Russia plans to start operating two new power stations in Crimea at full capacity on March 18, five sources familiar with the plans told Reuters on Wednesday. The power stations were at the center of an international scandal after German engineering company Siemens said its power turbines had been installed at them without its knowledge and…

WADA President Says Proved Right Over Russian Re-Admission

The World Anti-Doping Agency has been vindicated over its decision to readmit Russia’s anti-doping agency six months ago, its president Craig Reedie said on Wednesday. In particular, Reedie said that Russia’s decision to allow access to its Moscow laboratory following readmission of RUSADA was a “game changer.” RUSADA was suspended in 2015 after a WADA-commissioned…

Russia Lost $750B to Capital Flight Since 1994 – Bloomberg

Some $750 billion has been moved from Russia in the last quarter-century, Bloomberg reported on Tuesday. Russia’s net capital outflow, typically used as a measure of economic or political stability, has increased in the past two years, reaching $67.5 billion in 2018. Some economists forecast the trend will slow down to $30 billion in 2019.…

Russia Will Deploy New Missiles to Defend Arctic, Admiral Says

The Russian military plans to bolster its positions in the Arctic with additional air defense systems as it flexes its muscle in the hydrocarbon-rich region, a top naval commander has said. The Defense Ministry has worked at breakneck pace to reassert its presence in the region by reopening old defense installations and deploying new weaponry.…

Russia to Re-Educate ‘Brainwashed’ Youth in Patriotic Camps

Russia plans to send delinquent youngsters to military-patriotic re-education camps and to install special software blocking banned websites in schools, the head of Russia’s Security Council has said. President Vladimir Putin created a patriotic directorate inside the Russian army last summer, evoking memories of a Soviet practice that once taught soldiers the tenets of Marxism.…

Russian Luxury Car Makes European Debut at Geneva Motor Show

Russian luxury car manufacturer Aurus introduced its vehicles to the world at the Geneva International Motor Show in Switzerland last Thursday, March 7. Visitors to the show, which showcases the latest in automobile design and concepts, got a glimpse of a high-end armored Aurus Senat limousine, as used by Russian President Vladimir Putin. Here are…

Russian Bank VTB Reaches Deal to Exit Venezuela Bank Stake

Russian bank VTB has begun a procedure to hand over to the Russian state property agency its stake in Evrofinance Mosnarbank, a bank hit with U.S. sanctions this week over its dealings with Venezuela, two sources familiar with the deal told Reuters. Agreement has been reached for the transfer of VTB’s 25 percent stake in…

Russia Claims Europe’s First Exoskeleton-Assisted Surgery

Doctors at a hospital in southern Russia have conducted what they say is Europe’s first surgery with the help of exoskeletons, the state-run lender Sberbank announced on Monday. ExoChair, developed with help from Sberbank’s robotics division, is designed to support the lower limbs and pelvic region to help reduce fatigue and improve efficiency among workers…

Kremlin Abandons Plans to Hand Islands to Japan – Reports

The Kremlin has reversed course in its negotiations to cede control of the disputed Kuril Islands to Japan, the RBC news website reported, citing unnamed sources. The row over the islands, which Soviet troops seized at the end of World War II, has prevented Moscow and Tokyo from formally signing a peace treaty to the…

Kremlin Shrugs off Possible U.S. Boycott of St. Petersburg Forum Over Investor’s Arrest

The Kremlin on Tuesday shrugged off talk of a possible boycott by U.S. companies of Russia‘s showcase International Economic Forum over the arrest of prominent U.S. investor Michael Calvey, saying such boycotts had come to nothing in the past. Calvey’s detention last month on embezzlement charges, which he denies, has rattled some foreign investors in Russia who are…

Russia’s Rosneft Says U.S. Statements on Its Venezuela Operations Groundless

Russia’s top oil producer Rosneft said on Tuesday that U.S. statements that it had violated U.S. sanctions in its Venezuela activities were “groundless accusations.” Pompeo said this week Rosneft was defying U.S. sanctions by buying oil from Venezuelan state oil firm PDVSA. Rosneft said it was not involved in politics and was conducting “purely commercial…

A Russian Is Now London’s Richest Man — Forbes

Move over, Leonard Blavatnik: There’s a new leader in town. A Russian oligarch has for the first time topped the list of richest Londoners, according to Forbes Russia. Mikhail Fridman’s net worth of $15 billion knocked billionaire investor Len Blavatnik from the top of the list, Forbes reported Tuesday. Fridman is one of 55 billionaire…

U.S. Blames Moscow for Venezuelan Crisis, Sanctions Russian Bank

U.S. Secretary of State Mike Pompeo on Monday blamed Russia and Cuba for causing Venezuela’s political crisis by supporting President Nicolas Maduro. His comments came after the U.S. Treasury Department imposed sanctions on Russian bank Evrofinance Mosnarbank for helping Venezuelan state oil firm PDVSA evade U.S. financial restrictions. “This story is not complete without acknowledging…

Latvia Builds Barbed Wire Fence on Russian Border to Combat Migration

Latvia has completed construction of a 93-kilometer barbed wire fence on the border with Russia to combat illegal migration, media outlets reported, citing the Latvian border service. The 2.7-meter-tall fence, announced in 2015, alternates between sensor-based systems and surveillance camera zones. It is part of a 21 million euro ($23.8 million) project to modernize 283…

Russian Prosecutors Seek to Stop Chinese Bottling Factory at Lake Baikal

Prosecutors in Russia’s Irkutsk region want to stop a Chinese company from building a water-bottling factory that residents say will drain and pollute the deepest lake and largest reservoir of fresh water on Earth. The AquaSib company began construction of the 1.5 billion-ruble ($22.7 million) factory in January, with plans to bottle 190 million liters…

New Torture Videos Thrust Russian Prison Back Into the Spotlight

Two new videos showing guards abusing inmates have brought national attention back to a notorious prison near Moscow that rocked Russia’s penitentiary system last year with reports of systemic torture. Bodycam footage released last summer by the investigative Novaya Gazeta newspaper showed guards violently beating prisoners in the Yaroslavl region. The videos’ publication touched off…

Russian Military Is Bigger and Stronger Than in 2012, Defense Minister Says

The Russian military has significantly expanded and upgraded its weapons systems in the past six years, Defense Minister Sergei Shoigu told lawmakers on Monday. The country’s military achievements between 2012 and 2018 have turned Russia’s military into a mobile force capable of projecting influence abroad, The Associated Press quoted the minister as saying at a…

10% of Fans Returned to Russia After 2018 World Cup – Sberbank

One in 10 foreigners who visited Russia visa-free for the FIFA World Cup last summer took advantage of a visa waiver to return to the country by the end of 2018, Russia’s top lender Sberbank has said. Security services estimate that more than 633,000 Fan ID holders visited Russia during the 2018 World Cup, according…

Russia Remains Second-Largest Arms Exporter Despite Sales Drop – Think Tank

Russia remains the world’s second-largest arms exporter after the United States despite five years of declining sales abroad, the Stockholm International Peace Research Institute (SIPRI) has said in a new report that was disputed by Russia’s state-owned arm exporter. Russia’s arms exports dropped 17 percent between 2014 and 2018 when compared to 2009-2013, contributing to…

Kremlin Says It’s Not Putin’s Place to Answer Briton Whose Mother Died in Poisoning

President Vladimir Putin will not reply to a letter from the son of a woman killed by a suspected Russian nerve agent near the English city of Salisbury last year because Russia‘s ambassador to Britain has already done so, the Kremlin said on Monday. Ewan Hope called on Putin in a letter publicized by the Daily Mirror…

Russian Passenger Plane Makes Emergency Landing in Baku After Bomb Threat

A Russian Ural Airlines jet bound for Moscow from Bahrain with 225 people aboard made an emergency landing in Baku, Azerbaijan on Monday because of a suspected bomb on board the plane, Baku airport said. Flight U6-1116 was en route to Moscow’s Domodedovo airport when the crew “received information about possible restricted items” on board, a…

IAAF Maintains Ban on Russian Athletics Over Doping Scandal

World athletics governing body IAAF has decided not to lift a ban on Russia‘s athletics federation over doping, saying on Monday it was still waiting to receive data collected from Moscow and financial compensation for its investigations. Russia‘s athletics federation (RUSAF) has been suspended since 2015 following a World Anti-Doping Agency (WADA) report that found evidence…

Russian Couple, Skydiving Instructor Among Ethiopian Plane Crash Victims

A young Russian couple on vacation and a skydiving instructor were among the 157 people killed in an Ethiopian Airlines crash on Sunday, Russian media have reported. There were no survivors aboard the Boeing 737 jet carrying passengers from more than 30 countries from Addis Ababa to Nairobi, Kenya, the airline said. Ethiopia’s parliament declared…

An Oligarch, His Mistress and Courts in Krasnodar

In a world of oligarchs, Igor Zyuzin was once one of the richest. As businessmen raced to get their hands on Russia’s assets in the mid-1990s after the fall of the Soviet Union, Zyuzin built a nationwide coal conglomerate. His company, Mechel, later also invested in metals. Although the moves made him a billionaire, he…

3 Takeaways From The Moscow Times’ Investigation Into Krasnodar’s Shady Courts

In a legal system that has long been an instrument of the powerful, wealthy Russians continue finding clever new ways to use it to their advantage. A Moscow Times investigation has uncovered a new formula: a simple but effective legal scheme that allows wealthy Russians to get their lawsuits in front of friendly judges in…

‘Point of No Return’: Russia’s Libertarians Lead Protest Against ‘Sovereign Internet’

It was Saturday afternoon and Mikhail Svetov was buzzing with nervous energy. Just 24 hours later, the member of Russia’s Libertarian Party would be leading a protest against a draft bill aimed at creating a so-called sovereign internet. “I see signals that something unusual is happening. Something similar to 2011,” Svetov said, referring to the…

Wooden tower burned at Maslenitsa festival in Russia

A giant wooden tower was torched on Saturday as part of the Maslenitsa folk festival celebration in Russia‘s western Kaluga region. The theme of this year’s festival was the French Revolution and the wooden tower was inspired by the Bastille, the site of the former fortress and symbol of the Bourbon monarchy, that was stormed in…

On Trump’s Ties to Russia, Americans Have Made Up Their Minds

Only a small number of Americans have not yet made up their minds about whether Donald Trump’s 2016 election campaign coordinated with Russian officials, according to new Reuters/Ipsos polling, which also showed deep divisions in the United States in the run-up to the 2020 presidential election. Eight out of 10 Americans decided almost immediately about…

Putin Applauds Russian Women for ‘Managing Everything at Work and Home Whilst Staying Beautiful’

President Vladimir Putin congratulated Russian women on International Women’s Day in a video message posted on the Kremlin’s website on Friday. Women’s Day is a national holiday in Russia and one of the most important public holidays inherited from the Soviet period. “You manage everything at work and at home, whilst staying beautiful, bright, and…

Turkey and U.S. Head for Showdown Over Russian Missile Contracts

Turkey is running out of time to avert a showdown with the United States over its plans to buy advanced Russian air defenses and spurn a counter-offer from its NATO partner, raising the chance of U.S. sanctions against Ankara. The last diplomatic crisis between the two countries contributed to driving the lira to a record…

U.S. Says It’s Working With EU to Thwart Russia on Balkans

The U.S. and the European Union are coordinating their strategy in the Western Balkans to foil Russian meddling in the volatile region, a U.S. government official said. Russia “worked very hard” to undermine the recent agreement between Greece and North Macedonia and is boosting aspirations among Bosnian Serbs to secede from Bosnia-Herzegovina, Matthew A. Palmer,…

Pro-Kremlin Youth Group Barges Into Feminist Coffee Shop in St. Petersburg, with Flowers

Members of conservative pro-Kremlin youth organization Set entered Russia’s sole “women-only hours” cafe in St. Petersburg, resulting in a scuffle on Thursday. March 8 marks International Women’s Day. In Russia, it is celebrated as a public holiday with flowers traditionally being gifted to women. In the footage posted online by Set, several men are seen…

Troika Laundering Claims Put Founder Vardanyan’s Legacy in Focus

For more than two decades, Ruben Vardanyan was the face of Western-style investment banking as a founder of Troika Dialog during the birth of Russian capitalism, going on to earn successes that brought him billionaire status and ties to the Kremlin, British royalty and Hollywood. With his former investment bank now accused of laundering billions…

Elon Musk Hails Russian-Made Rocket Engine Design as ‘The Best’

SpaceX CEO Elon Musk has expressed his admiration for Russian rocket engineering in a tweet on Thursday. Musk’s tweet came in response to an article posted by the tech outlet Ars Technica, which said that the Russian Soyuz spacecraft cannot compete with SpaceX’s Dragon spacecraft. Last December, the SpaceX CEO also praised the design of…