News Highlights

Rosneft Wants Tax Cuts For Oil Companies

July 9, 2013

The head of state-owned energy giant Rosneft has called for a large reduction in the tax burden on the oil industry, Vedomosti reported Monday, in a move that could increase friction with the government.

Journalist Killed in Russia’s Restive Dagestan

A journalist in Russia’s North Caucasus was shot dead on Tuesday after repeated threats and an attempt on his life. Akhmednabi Akhmednabiyev, an editor at a local weekly newspaper critical of authorities and contributor to leading online source Caucasian Knot, was gunned down in his car Tuesday morning by unknown attackers…

Russia lower house eases rules for proposed tight oil tax breaks

July 8, 2013

Russia’s lower house of parliament has stripped compliance measures from proposed tax incentives for “tight” oil production, a parliamentary official said. Energy companies have warned that the measures, which will now be reviewed by the upper chamber, would drive up production costs and deter investment.

Moody’s downgrades Russia’s 3 top lenders

Moody’s cut by a notch the ratings of Russia’s state lending giants – Sberbank and VTB – with Russian Agricultural Bank seeing a two notch downgrade. The agency said the Russian government was less prepared to back the lenders than it was in 2007 – 08.