Georgia, Moldavia and Ukraine have the right to sign a European Union Association Agreement; however, Russia will act correspondingly, if its economic interests are to get hit by the agreement, Dmitry Peskov, spokesman of Russian President Vladimir Putin, said.
The Russian lawmakers are mulling restrictions on foreign payment systems offering money transfer and transaction services on the Internet, the Moscow-based Izvestia newspaper reports.
Russian Prime Minister Dmitry Medvedev on Wednesday will chair a conference on matters aimed at bringing into being a national payment card system (NPCS).
The Russian gas corporate company Gazprom is prepared to sell its shares of Lithuanian gas companies Lietuvos dujos and Amber Grid, Lithuanian Prime Minister Algirdas Butkevicius said on Thursday in an interview for the Ziniu radjas radio station. "We know about it by word of mouth. Gazprom made this decision two days ago, so we hope to receive a letter from them this week," the Lithuanian prime minister said.
Russia proposes to provide a discount of $100 per thousand cubic meters of gas to Ukraine, backed by government decisions, Energy Minister Alexander Novak told a press conference following the latest three-party gas talks in Brussels.
Foreign payment service providers like Visa and MasterCard have to make a necessary security deposit by October 31 or face suspension of their operations in Russia, the Vedomosti newspaper reports citing a government draft decree.
Russian President Vladimir Putin calls for taking into account mutual interests in the modern world and strengthening the established ties in a greeting message to the 18th St. Petersburg International Economic Forum (SPIEF) participants and guests.
The first contract at the St. Petersburg International Economic Forum (SPIEF-2014) has been signed on Thursday with IBM East Europe/Asia. The sides will cooperate in technical sphere, realization of joint initiatives in planning and complex management of the city's social and economic development.
Amendments to the Law on the National Payment Cards System that open up the opportunity to revise tougher demands applicable to international payments systems have been introduced to the State Duma, a source familiar with the text of the amendments told reporters on the on the sidelines of the St. Petersburg International Economic Forum.
US President Barack Obama on Wednesday announced plans to pull Russia from a trade benefits program for developing countries. "I am providing notice of my intent to withdraw the designation of Russia as a beneficiary developing country under the Generalized System of Preferences (GSP) program," Obama wrote in an official letter to the US Congress.
Russian President Vladimir Putin has signed into law a bill to create a national card payment system, the Kremlin press service said Monday. The Russian parliament approved the bill last month. Plans to establish a national card payment processing system emerged in response to Ukraine-related sanctions that saw several Russian banks denied service by global powerhouses Visa and MasterCard, troubling the general public and raising concern over the security of the country's financial system.
The US sanctions against Russia have had just the opposite effect, helping the Russian economy to recover, Lindsey Graham, a US senator from South Carolina, told the CBS television on Monday.
Russian economy will inevitably enjoy resurgence due to sanctions imposed on Russia - political analyst
The US is trying hard to make Russia feel isolated in order to "punish" it for challenging the results of the Cold War. However, the only visible result of this campaign is that Russian Internet users joke about #RussiaIsolated hashtag promoted by the State Department.
Economic sanctions may benefit Russia by helping de-offshorize its economy and create better conditions for doing business inside the country, President Vladimir Putin said. "Many people who take their savings and business to low-tax areas are already thinking whether it would be better to carry out all of their economic activities, including registration, at home," the president said at the Media Forum on Thursday, April 24.
Russian President Vladimir Putin said countries with large international reserves were putting these to a variety of uses. Asked at a forum for independent regional and local media organizations what effect Western sanctions might have on Russia, Putin touched on the issue of how to dispose of international reserves.
Crimea’s authorities have already raised a sum of $1.5 billion on the construction of a gambling zone on the peninsula, Crimea’s First Deputy Prime Minister Rustam Temirgaliyev said in an interview with the Izvestia newspaper published on Wednesday.
If Europe approves economic sanctions, Russia can minimize the damage by turning to other markets, Prime Minister Dmitry Medvedev said. "The European Union is our most important market today. I will repeat, we will not initiate a reduction in economic ties. That isn't in our interests. We have trade with them totaling $400 billion," Medvedev said in a report to the State Duma on Tuesday.
Insufficient diversification stops the Russian economy from achieving and maintaining high growth rates, said Russian Prime Minister Dmitry Medvedev.