Russia has only 7 years of oil remaining
The Russian economy, which has been based almost exclusively on oil and gas exports since Soviet times, is now facing a countdown.
The old Soviet-era deposits are being rapidly depleted, and the country has been unable to find new deposits with oil that can be extracted easily and cheaply, reports finanz.ru.
The current levels of oil extraction in Russia “are inadequately ensured by the reserves of the deposits being developed,” according to a document titled “Strategy of the mineral raw …
Britain denies that expelled Russian diplomats would be allowed to return
British representatives refuted the statement made by the Russian Ambassador in London, Alexander Yakovenko, that allegedly the two countries agreed to gradually restore dozens of diplomats to their positions, expelled by both sides after the poisoning of Sergei and Yulia Skripal in Salisbury.
“No new agreements have been made. Our position regarding Russian diplomatic presence in the UK has not changed after measures were taken after Salisbury. Work of our respective missions occurs in the …
Poroshenko signs law expanding Ukraine’s zone of control in Black Sea
Ukrainian President Petro Poroshenko has signed the law “On Ukraine’s surrounding zone,” which doubles the country’s zone of control in the Black Sea, the presidential press service reported.
The law harmonizes Ukraine’s maritime legislation with that of other states on the Black Sea and other signatories of the UN Convention on the Law of the Sea of 1982. It is intended to prevent smuggling operations and illegal visitation of the closed ports in the temporarily occupied territories of …
European Commission: construction of Nord Stream 2 pipeline is hard to stop
US President Donald Trump’s criticism of the construction of the Nord Stream 2 gas pipeline is not a reason to stop the project, stated European Commissioner for Budget and Human Resources Günther Oettinger on December 28. He said that any attempts to prevent the construction will encounter serious opposition as the construction is already underway.
Trump criticized Berlin for supporting the $11 billion gas pipeline. In July, he accused Germany of being Moscow's “hostage” because of the …
Russia bans import of a number of Ukrainian goods
Russia has banned the import of a number of goods whose country of origin is Ukraine or which have passed through Ukraine. The corresponding decree was published on December 29 on the Russian government website.
“The bulk of the goods which the ban has been placed on belong to the industrial category. The list also includes agricultural products, raw materials and food,” the announcement notes.
The Russian government points out that Ukraine has periodically placed sanction restrictions both …