RussiaGate #Digest

2022-05-30 18:04:49 Dutch and Danish gas traders refused to pay for Russian gas in rubles. Accordingly, Gasprom now has to stop its gas exports to Netherlands and Denmark.

Let's see if Kremlin will keep its word and halt the gas exports to Europe. No gas infrastructure has been damaged in Ukraine since February, 24. Open / Comment

2022-05-30 17:55:03 Canadian Minister of Finance Chrystia Freeland has suggested that Russian billionaires could pay to have sanctions against them lifted.

Freeland worked with Financial Times in Moscow and knows some Russian oligarchs personally. This idea has been reportedly suggested to her by one Russian billionaire.

This move could help Russian moguls distance themselves from Putin. The money could be used for various needs, including financing Ukraine.

It is a good idea, actually. Basically they will pay for their assets twice. Open / Comment

2022-05-30 12:44:37 The output of Russian steel giants MMK and Severstal has declined by as much as 40% year-on-year.

Obviously, steelers will look for heavy state financing. There won't ne money for people, these guys will do fine. Open / Comment

2022-05-27 16:57:18 Leading Russian truckmaker Kamaz is forced to halt its activities and introduce a 3 days working week.

Kamaz is suffering from the lack of technologies and details that are impossible to obtain because of sanctions.

The latter are slowly, but surely destroying Russian industries. There is basically one way out - to find another foreign (Chinese) partner. Open / Comment

2022-05-27 13:18:05 Vyacheslav Volodin vs Andrei Turchak

It's hard to distinguish one from another. This public dispute indicates that Putin doesn't control Russian elites the way he used to.

Second, it's a public fight for the future money in Donbass. Turchak is desperate to become one of Russia's top state managers and wants more important role in the system.

Everything he is touching has failed so far. The latest collapse was in South Ossetia, where Turchak wasn't able to promote the acting president to his second term. Open / Comment

2022-05-26 17:27:04 While Roman Abramovich was forced out of English football and sold Chelsea FC, another Russian tycoon, who is far less well-known, has entered the Premier League with AC Bournemouth.

Maxim Demin has moved to the UK long time ago and is former Tatneft top-manager.

The public doesn't know much about him, but one fact is enough: he hasn't been sanctioned neither by UK, nor by US. Open / Comment

2022-05-26 15:58:26 Yandex will move its business to Israel. There is various evidence of the move, the deal between Arkady Volozh and Israeli government seems to be done.

Israel did its best to stay neutral in the conflict between Russia and Ukraine, but actually could harm Russia more than openly hostile countries.

It is a brain drain. Israel is taking qualified IT-specialists out of Russia. Open / Comment

2022-05-25 17:34:35 According to various reports, CEO of Russia's top-10 lender Otkrytie Bank, former Finance Minister Mikhail Zadornov is not too happy with the future merger of the bank with state-owned major VTB.

Zadornov doesn't need to take any chances and find other ways of enrichment. The deal is approved by Central Bank and Putin personally.

Both VTB and Otkrytie have been heavily sanctioned. Zadornov is under personal sanctions of US and UK.

This merger indicates the end of global ambitions of Russian banks. Sanctions have made it impossible for Russian financial entities to be global players or even thinking of being global. Open / Comment

2022-05-25 17:09:03 Russian Finance Ministry announced today that Russia will pay its foreign debt in rubles.

This is a technical default. Open / Comment

2022-05-25 15:21:52 US Treasury Department won’t extend the General Licence 9A,that has allowed the Russian state and its companies to make debt service payment in dollars to international investors.

This could result in a cascade of defaults in Russia.

Russian entities managed to make their international payments so far. The situation has been getting worse as banks have been shying away any Russian transactions (even legal) because of sanctions.

Russia has enough money to meet its obligations, but is being pushed to a default which will damage its future on capital markets. Open / Comment