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Shares of majority state-owned Russian oil and gas giant Gazprom, which is the country’s largest public company, tanked in trading on Thursday after the company declined to pay out dividends for the first time since 1998 in a sign of the widening impact of sanctions on the Russian economy.
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The supply of goods from China has decreased by 38% since the end of February, according to the results of a study of the Peterson Institute for International Economics. The reason is that Beijing does not want to lose American and European technology, as well as a large market for
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Universal Pictures is finally leaving the Russian market and closing its office. The company made the decision because of the difficulties associated with doing business in the current environment. Earlier in March, major film companies such as Paramount, Sony, Disney, and Warner Brothers suspended the distribution of their films in
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Nvidia has stopped renewing and selling gaming software licenses in Russia, Russian media report. The suspension of Nvidia licenses can also complicate the work of supercomputers of Sberbank, Yandex, and MTS operator.
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Software developing company Luxoft is exiting the Russian market and will completely do so by the end of June. Elena Samborska, managing director of the Ukrainian office of Luxoft, said this in an interview. The company has developed an internal relocation program for its employees.
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The relevant resolution was approved by the government. According to the Prime Minister, the new entry regime for Russian citizens is aimed at counteracting unprecedented threats to the national security, territorial integrity, and sovereignty of Ukraine.
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China’s Honor smartphone maker suspends official smartphone shipments to Russia. Supplies of this manufacturer’s devices to Russia stopped back in March. The company is currently looking for partners to resume supplies to Russia through parallel imports.
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According to the Russian Association of Theater Owners, in the week from May 30 to June 5, revenues of cinemas dropped by 63% to RUB 681.4m ($11m) and attendance by 57% to 1.2m compared to the weekly average of 2021.
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The Consulate of Belgium in Russia suspends the issuance of short-term visas, including tourist visas, the Association of Tour Operators of the Russian Federation reports with reference to the visa center of the country. Terms of termination are not specified.
Economy
In the period from January to May, 268,000 cars were produced in the Russian Federation, which is 56.4% less than in the same period last year.
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The Madrid summit endorsed NATO's new Strategic Concept 2030. It identifies Russia as the most significant and direct threat. The summit also approved an aid package for Ukraine, including accelerated deliveries of non-lethal weapons, enhanced cyber defense and modernization of the defense industry.
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The Ministry of Infrastructure has signed an agreement with the EU on the liberalization of road transport. Thanks to the agreement, Ukrainian carriers will not need permits for bilateral and transit transport across the EU and will be able to deliver cargo to European markets without hindrance.