Russian giant Rosneft pleads for $42bn state aid as sanctions bite August 14, 2014 OIL GIANT Rosneft announced yesterday that it was seeking a $42bn (£25.15bn) loan from a fund earmarked for Russian pensions to help it weather Western sanctions imposed after the crisis in Ukraine. Rosneft, one-fifth owned by BP and run by a close ally of President Vladimir Putin, produces more oil than Iraq or Iran and [...]
Britain is the fourth-best in the world for billionaire residents March 2, 2014 BRITAIN is home to 77 dollar billionaires, having gained 22 since last year, though the USA has strengthened its position in the upper ranks of the world’s wealthiest, a new rich list claims. Ukrainian-born Leonard Blavatnik was named the richest UK resident by Chinese publisher Hurun, with an estimated worth of £18bn, up 16 per [...]
Russia can’t decide if it’s made an oil deal with Iran or not August 5, 2014 Russia announced it had agreed a five-year deal with Iran to help export oil from the Middle Eastern country earlier today, only for Russian energy minister Alexander Novak to later withdraw his statement about the agreement. Novak had said: "Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the [...]
Russia ordered to pay £29bn to Yukos investors July 28, 2014 THE HAGUE’S arbitration court yesterday ordered Russia to pay a group of Yukos shareholders $50.02bn (£29.4bn) in compensation for deliberately bankrupting the oil company, at a time when relations between Russia and the West were already on a knife edge. The arbitration panel in the Netherlands awarded shareholders in the GML Group, a former Yukos [...]
EU vows to hit Russia with fresh sanctions ‘within a week’ August 31, 2014 The European Union has threatened Russia with a new round of sanctions if it fails to reverse its latest intervention in Ukraine. Tensions in the region have dramatically escalated in the last week, with Ukrainian President Petro Poroshenko saying his country was "close to a point of no return – full scale-war" with Russia. Poroshenko [...]
David Cameron warns of “further consequences” if Russia continues to invade Ukraine August 28, 2014 David Cameron has said he is "extremely concerned" by evidence Vladimir Putin has launched a full-blown invasion in eastern Ukraine, warning there will be "further consequences" if Russia doesn't pull them out. In a statement this afternoon, the Prime Minister said the Russian president was "completely disregarding" the sovereignty of its neighbour. The international community [...]
Putin’s judo partner Arkady Rotenberg among Russians hit by EU sanctions July 31, 2014 Among those Russians hit by the EU's latest round of sanctions are President Vladimir Putin's judo partner Arkady Rotenberg, who is already on a US sanctions list. The European Commission has published the names of eight Russians and three companies that will have their assets frozen as a consequence of Kremlin's actions in eastern Ukraine. [...]
Mansion tax fears and stamp duty changes send the world’s super-rich to London’s rental market December 7, 2014 Anxieties over the outcome of the 2015 general election and new stamp duty reforms are persuading the world’s super-rich to rent property in London rather than buy it outright, according to a new report. London’s lettings market has benefitted from a huge bump in prime rentals, with as much as 21 per cent of [...]
Rouble falls to record low against the dollar on ceasefire worries September 15, 2014 Scottish independence may be hitting the headlines over here, but morning trading showed markets' main concerns are still over the situation in Ukraine and the associated sanctions hitting Russian businesses. While the pound fell slightly against the dollar – 0.02 per cent – on jitters over what will happen north of the border on Thursday, [...]
Rosneft: Russia’s largest oil company calls for $42bn in state aid as sanctions bite August 14, 2014 Rosneft, Russia's largest oil company, has been forced to request $42bn in government money to see it through the current raft of western sanctions. Igor Sechin, chief executive of Rosneft, has asked for help through the purchase of bonds, with the National Wellbeing Fund mooted to as a possible buyer. The fund is usually used [...]