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Ruble runs a temperature: 37.55 to the dollar

The ruble has set a new record – a historic minimum of 37.5 rubles to the US dollar. The ruble exchange rate has continued to fall during the week in the context of preparation of a new package of sanctions by the EU, which will be directed against the Russian companies Rosneft, Gazprom and Transneft.Financial experts explained to Vestnik Kavkaza how urgent the situation over ruble exchange rate is. Dmitry Piskulov, the chairman of the Board of the National Monetary Organization, stressed that the position of the ruble remains within the paradigm which has emerged in recent months.

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The European Union has finally decided to pass the fourth package of anti-Russian sanctions that will hit Gazprom, Rosneft and Transneft. The sanctions also serve to demonstrate the consolidation of EU countries. The final decision of the Council of the EU will be published in September, though the sanctions may be gradually lifted, depending on the situation in Ukraine.

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Europe prepares sanctions against Russia

The EU plans to adopt a new project of anti-Russian sanctions in the near future. President of the European Council Herman Van Rompuy said that the sanctions will depend on the situation. German Chancellor Angela Merkel stated this morning that the territorial integrity of Ukraine was violated. The U.S. urged Europe to speed up the process regardless of the success of the peace plan. The U.S. position on the sanctions was expressed by President Barack Obama on Friday.

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The EU has blacklisted Gazprom, Rosneft and Transneft (with a capital of over 1 trillion rubles). Representatives of the 28 countries of the EU will agreement on sanctions on September 12, Gazeta.ru reports.

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The Radioelectronic Technologies Concern of Rostec has switched contracts and found partners in South Korea and China, said deputy director general of the concern Igor Nasenkov, ITAR-TASS reports.The company has to change about 1-2 suppliers and 10-15 machines. 140 billion rubles will be spent on modernization of the concern according to its development strategy until 2025.Three directorates will be formed in the concern: KRET-Avionics (development of integrated air systems for aircraft), KRET-Electronics (electronic systems) and KRET-Security (safety systems).

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Despite winning court processes for property rights, Transneft fears that the Rivne City Court will cancel previous decisions and deprive it of the ownership of the pipeline in Ukraine, according to Transneft Head Nikolai Tokarev, Prime …

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The State Oil Company of the Azerbaijan Republic (SOCAR) has stated on its website that a contract was signed with Transneft to pump oil through the Baku-Novorossiysk Pipeline. Both companies have confirmed the signing of the contract, although none of them gave details about the terms.

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SOCAR reorients pumping of its oil

The State Oil Company of Azerbaijan Republic (SOCAR) has started transportation of its oil, which was previously exported via the Baku-Novorossiysk oil pipeline, through the Baku-Tbilisi-Ceyhan oil pipeline, says a message from SOCAR, reports Trend.The Baku-Novorossiysk pipeline independently transported oil produced by SOCAR, as well as from onshore fields, developed within joint ventures. In 2013, SOCAR exported 1.75 million tons of oil via the northern Baku-Novorossiysk pipeline compared to 2.06 million tons in 2012.

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Transneft will not shut the Baku-Novorossiysk Pipeline down due to renewal of negotiations with the State Oil Company of the Azerbaijan Republic to continue pumping oil, said spokesman of the Russian company Igor Demin, APA reports.He clarified that Azerbaijan had requested extension of the contract for the pipeline at the end of last week. The contract expires on February 14, 2014.The sides have not decided what volume of oil to pump through the pipeline.The SOCAR was reported restarting negotiations on the Baku-Novorossiysk Pipeline on February 10.

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Russia's oil-delivering company Transneft is going to cancel deliveries via the Baku-Novorossisk oil pipeline in two and a half weeks. This means that oil deliveries from Azerbaijan to Russia will stop.

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The State Oil Company of the Azerbaijan Republic has almost concluded negotiations to pump oil through the Baku-Tbilisi-Ceyhan Pipeline to compensate the Baku-Novorossiysk Pipeline, Trend reports.Azerbaijan plans to pump about 2 million tons of oil a year and may increase the volume to 5 million tons.

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Transneft has turned off the Makhachkala-Baku section of the Baku-Novorossiysk Pipeline, said spokesman of the company Igor Demin, ITAR-TASS reports.He noted that the State Oil Company of the Azerbaijan Republic (SOCAR) had not started …

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