Tag: Russia

Mnuchin Says U.S. Doesn’t Seek to Put Rusal Out of Business

Says Deripaska must reduce ownership stake under 50 percent Negotiations with company “encouraging” Treasury chief says United Co. Rusal out of business by sanctioning the company, Treasury Secretary Steven Mnuchin said, but its majority owner Oleg Deripaska must reduce his stake to less than 50 percent. “The first aspect would be that he sells down below …

Russian Oil Giant Hoards $44 Billion Cash in Sanctions’ Shadow

SOURCES: Surgutneftegas, Bloomberg NOTE: Figures show cash and cash equivalents, banking deposits. Surgutneftegas didn't provide breakdown for FY2017 Similar penalties against Russian billionaire Oleg Deripaska and his Sberbank PJSC, according to a person close to the oil company. The bank held 44 percent of Surgut’s deposits in 2012, the last time it disclosed the information. Most …

Struggling Russians Turn to Day-Trading to Pay the Bills

When Natalia Orlova isn’t working a $400-a-month job at a Moscow factory that makes Cold War-era space rockets, she’s glued to the trading app she uses to speculate on oil. Lately, the 54-year-old has made a small fortune as crude jumped to 3-1/2 year highs, some of those gains linked to America’s latest sanctions on Russia. Like …

Russian Billionaire to Lose $492 Million Yacht in Divorce

Judge orders Farkhad Akhmedov to transfer ownership to wife Akhmedov’s boat, built for Abramovich, impounded in Dubai judgment. Judge Charles Haddon-Cave said that Akhmedov tried to hide his ownership of the Luna behind a group of companies and moved the ship to Dubai on the belief that it was "well beyond the reach of an English …

Oil Shrugs Off Trump Tweet to Rise for a Second Straight Week

President tweets as Saudis talk about continuing output cuts Current prices reflect geopolitics, OPEC oil ministers say willingness to further tighten oil markets and boost prices in a meeting in Saudi Arabia. West Texas Intermediate futures dropped as much as 1.2 percent early on Friday before rebounding as the impact of the tweet fizzled. They’ve risen …

Trump Lawyer Cohen Drops Suits Against BuzzFeed, Fusion GPS

Cohen denies Russia dossier claims that he worked with Kremlin Former Playboy model Karen McDougal drops her AMI lawsuit settled a lawsuit against the owner of the National Enquirer. It bought the rights to her story that she had an affair with Trump more than a decade ago. McDougal’s ownership of the story will be restored …

Grassleys Pitch on Bill Protecting Mueller: Its Not About Trump

Donald Trump. That won’t be easy given the widespread concern that Trump may fire Mueller, who is investigating Russian meddling in the 2016 election. Grassley appears to be trying to add safeguards to protect the rule of law without alienating Trump’s fervent base. Senate Majority Leader Mitch McConnell has

Russia Poised for Economic Foothold Over EU Member’s Resistance

Two Russian banks are on the verge of taking a substantial equity stake of Croatia’s biggest retailer, in a sign Moscow is expanding its reach in a corner of the European Union that has for years tried to fend off Russian investment. State-owned Sberbank PJSC and VTB Group are set to convert claims of about 1.4 …
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