Russia’s biggest foreign investor in the timber industry is getting rid of its stake. US-based International Paper is selling its stake for less than it bought it 15 years ago. This is noted in a company’s statement.
International Paper will sell 50% of Ilim Group to Russian partners for $484 million. More than 15 years ago, the American company paid $650 million for its Russian stake.
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In September, Russia's oil export revenues experienced a notable drop of 3.9%, decreasing from $15.3 billion in August to $14.7 billion. This decline was attributed to lower global oil prices rather than stricter sanctions, as highlighted in a study conducted by KSE Institute. The research
Germany recently closed a high-profile case against Russian billionaire Alisher Usmanov, a close associate of Russian President Vladimir Putin, following Usmanov’s agreement to pay a substantial €4 million fine. Despite being under European Union sanctions, Usmanov opted to settle this matter, which centered on alleged money laundering in Germany,
In a dramatic turn of international trade tensions, Skydio, the U.S.-based drone manufacturer and a significant supplier of drones to the Ukrainian military, is now grappling with a supply chain crisis following Chinese sanctions. The sanctions, which prevent Chinese companies from providing Skydio with crucial components, have left