Contents tagged with Sanctions on Russia

  • Russian arms manufacturer Kalashnikov loses up to 90% of its global civil arms market due to sanctions

    Sanctions imposed on the Kalashnikov concern (part of the Rostec state corporation, the Russian Federation) have cut off the company’s access to 70-90% of the global civil arms market, Interfax-Ukraine reports.

    “Sectoral sanctions imposed against Kalashnikov concern in 2014 by the United States, European Union states, Canada, Japan, Australia, and other countries have decimated the company: the sanctions cut off Kalashnikov’s access to 70-90% of the world’s market of civil weapons,” according …

  • Sberbank says rich Russians are taking their wealth back home out of fear of western sanctions

    With new individual sanctions from the United States looming, an ever-growing number of wealthy Russians choose to keep their assets at home in Russia, according to Eugenia Tyurikova, the head of Sberbank Private Banking, a Sberbank branch that services high-net-worth customers, as reported by RBC news.

    According to Tyurikova, in January 2018, the influx of funds grew threefold from the same period in 2017. “First of all, this was due to the expectations of the sanctions. The end of December …

  • Russia says that it will continue deploying Iskander strategic missiles in Kaliningrad despite Western protests

    The Russian State Duma has commented on Washington's plans to monitor the deployment of the Russian Iskander missile system in the Kaliningrad region. Yury Shvytkin, Deputy Chairman of the State Duma Defense and Security Committee, said that Moscow will continue to deploy the weapons in order to "maintain the balance”.

    "We will deploy them [the Iskander missiles] and similar types of weapons where we find it necessary to strengthen our borders and maintain the balance that the US is trying to …

  • Former DPR leader Girkin: Russian ruling elite decided to freeze the conflict in Donbas to protect themselves from sanctions

    In an interview with RusDay news outlet, former separatist commander Igor Strelkov (Girkin) stated that the Russian ruling elite, which initiated the annexation of the Crimea and have considered creating Novorossia (separatist republics in the Donbas) decided to freeze the military operations in the Donbas because of the personal sanctions imposed by the US and the West.

    He believes that those in Moscow who made decisions regarding the Crimea and the Donbas did not take into account the …

  • Media: Germany's new government won't change its sanction policy against Russia

    The coalition government of the Christian Democratic Union, the Christian Social Union and the Social Democratic Party of Germany bloc has no plans to change its sanctions policy against Russia, Spiegel reported, referring to the coalition’s 167-page draft agreement.

    The draft did not indicate the position of the Social Democrats on the progressive elimination of restrictive measures before the full implementation of the Minsk agreements. According to the draft, “If the Minsk agreements are …

  • Russia’s largest private bank believes the country is losing GDP annually due to sanctions

    The largest private bank in Russia estimated that the Russian economy lost 0.5% of GDP due to sanctions. Because of this, the entire positive effect of the actions of the Central Bank has been negated.As indicated in the report of the chief economist of Alfa Bank, Natalia Orlova, the losses are caused by diminished possibilities in attracting financing from abroad as a direct result of the sanctions on certain companies.

    The current US sanctions impose significant restrictions in the provision …

  • US expands 'Kremlin List' to include representatives of separatist LPR and DPR

    The U.S. Department of the Treasury has expanded the so-called Kremlin List of Russian oligarchs and close confidants of Russian President Vladimir Putin to include the names of separatist representatives of the Donetsk and Luhansk People’s Republics (DPR and LPR), as reported by Radio Liberty.

    According to the report, the list was expanded to include nine ministers and one deputy minister of the separatist-held Donetsk and Luhansk regions as well a former Luhansk official and his family …

  • Ukrainian Foreign Minister: Kyiv to take actions against German companies working in Crimea

    Ukrainian authorities are considering measures against German companies operating in the Crimea despite the EU sanctions, as stated by the head of the Ukrainian Foreign Ministry, Pavlo Klimkin, in an interview with the German newspaper, Rheinische Post.

    "Any attempt to bypass sanctions against Russia, introduced as a result of the annexation of the Crimea, must be punished by law ... We have a wide range of legal mechanisms that we can use. We are in the process of finding a balanced solution," …

  • Russia responds to Kremlin Report with 'sovereignty law'

    After publication of the United States’ “Kremlin List”, the Russian Federation Council’s Temporary Commission to Prevent Interference in Internal Affairs began work on a bill which will define the concept of “interference in state sovereignty”, Lyudmila Bokova, one of the bill’s authors, told RBC news agency.

    “There are many facts of interference by foreign powers in our country’s internal affairs. By putting forward the legislative initiatives, we are proceeding from a position of mirror …

  • Leaders of five German states demand weakening of sanctions against Russia

    The government leaders of five German states believe that sanctions against Russia are ineffective and are causing damage to German companies, Deutsche Welle reports.

    A meeting was held in Berlin between the heads of government of the five states formed from the territory of the former German Democratic Republic (East Germany).

    Reiner Haseloff, Minister President of the state of Saxony-Anhalt and a member of Chancellor Angela Merkel’s Christian-Democratic Union Party, said after the meeting …