Economy

Miller reelected as Russia's Gazprom CEO

The Board of Directors of Gazprom unanimously resolved to re-elect current Chief Executive Officer of the gas holding Alexei Miller for the next five-year term, the company says on Wednesday. His powers will be extended from May 31, …

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Oil prices slip on surprise build in U.S. crude stocks

Oil prices were lower on Wednesday after industry data showed a surprise build in U.S. crude stocks last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut. Crude stockpiles rose by 1 …

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Russia’s public debt up by nearly 40% in 2020

Russia's public debt increased by 39.9% in 2020 to 18.99 trillion rubles ($257 bln), which is 17.8% of GDP, according to the documents published by the the Accounts Chamber. "The public debt of the Russian Federation in 2020 …

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Munich Re stops insuring Nord Stream 2

 A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies …

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IDEX 2021: what weapons Azerbaijan put in display

Azerbaijan sent last week a delegation from the country's Ministry of Defense Industry to the United Arab Emirates (UAE) for IDEX-2021 where it is showcasing locally-made arms at the annual international defense exhibition. A total of 106 Azerbaijani-made arms are on display in Abu Dhabi, including various types of small arms and short-range combat vehicles, mortars, rifles, grenades, unmanned aerial vehicles, ammunition of various calibers and purposes over the next four days, Caspian News writes

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Elin Suleymanov: Azerbaijan expects US would not be taking a side in the conflict

Rather than accomplishing its aim of charting a peaceful roadmap for postwar Europe, the February 1945 Yalta Conference paved the way for the Cold War by dividing Germany into four occupation zones administered by U.S., British, French and Soviet forces. Now, there exists a fresh opportunity to forge a lasting peace and to extinguish a lingering conflict in the South Caucasus region, where processes of normalization and economic integration are underway in the aftermath of last fall's six-week war between Armenia and Azerbaijan, Elin Suleymanov, Azerbaijan's ambassador to the United States, writes for Newsweek

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Allies worried Joe Biden shaky on Nord Stream 2 pipeline

Axios published today a summary of Western politicians' reactions to the current U.S. activity in relation to pressure on Russia's pipeline project Nord Stream 2. The big picture, according to the article, is that Europe is now unhappy …

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Bitcoin sinks over 10%

Bitcoin slid Monday, pausing its stunning rally after Elon Musk said prices “seem high”, CNBC reports. The world’s most valuable cryptocurrency sank over 10% to a price of $51,993 Monday morning, …

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Bitcoin keeps hitting new highs after Tesla backing

Much talked-about cryptocurrency Bitcoin has continued to hit record highs having broken through $50,000 (£35,700) last week, BBC reports.  On Sunday, Bitcoin hit another peak rising above $58,000 as it continues its strong …

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Bitcoin surpasses $55,000 for the first time

Bitcoin crossed through the $55,000 mark for the first time, Coindesk reported on Friday. Thus, the price of the cryptocurrency has renewed its historical maximum. As of 22:53 Moscow time, bitcoin accelerated growth to 7% and …

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Turkey to invest nearly $100 mln in gas facility in Black Sea

Turkey will invest 780 million Turkish liras (around $111 million) to build a subsea gas production facility, and a 155-kilometer-long pipeline connecting to a new onshore gas processing facility in Filyos, in the Zonguldak province along Turkey’s western Black Sea coast, according to an environmental impact assessment application report for this three-phased integrated project

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Kremlin hopes more U.S. sanctions won’t be coming

Moscow hopes that common sense will gain the upper hand in Washington and that US officials won’t choose to go down the path of turning up the sanctions pressure, Kremlin Spokesman Dmitry Peskov said on Friday. The Russian …

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West changes its mind on global sanctions against Russia?

The U.S. is likely to hold off sanctioning any German entities for now over the Nord Stream 2 gas pipeline from Russia, according to four people familiar with the matter, as the Biden administration seeks to halt the project without antagonizing …

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