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Crude buyers in China have stopped purchases of some Russian oil as they are waiting for details of the US-led cap to see if they will be offered a better price. This was reported by Bloomberg. Currently, several cargoes of Russian ESPO crude oil for delivery in December remain unsold.
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The United States imposed [https://www.state.gov/targeting-russias-global-military-procurement-network-and-kremlin-linked-networks/] sanctions against Russian manufacturers of microelectronics. The Russian microcircuit manufacturer AO PKK Milandr fell under the restrictions. They also affected related companies Milur Electronics LLC (Armenia), Sharp Edge Engineering Inc. (Taiwan) and Milur SA (Switzerland).
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According to Bloomberg, Russia's oil production may fall below 10 million barrels per day next year. Russia may find it difficult to find new markets for oil after the European sanctions on imports take effect. According to the International Energy Agency (IEA), Russia has redirected more than a
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German manufacturing giant Siemens has announced the sale of its financial and leasing business in the country. The company has published its financial report for the fourth quarter of 2022, which indicates the sale of Russian assets. The concern launched its exit from the Russian market in May. The exit
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One of the largest online retailers of designer clothing Farfetch is closing its Russian office and laying off all of its employees. This is reported by The Blueprint, citing sources. Farfetch launched in Russia in 2015. The marketplace operated under a model in which it does not purchase merchandise, but
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At the beginning of November, it became known that EPAM has signed an agreement for the sale of assets in Russia to a third party. It was stated in a new report [https://investors.epam.com/static-files/c9054fab-95f0-4e94-95f4-ca13ec386226] for the U.S. Securities and Exchange Commission. EPAM did not name
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International payment system Payoneer is suspending operations in Russia, Russian media outlets report, with reference to an email received by Russian clients. The company suspended its activities in Russian Federation in March 2022 and closed the registration of new accounts. Now, all customer accounts in Russia will be closed by
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Outerwear and sportswear manufacturer Helly Hansen has decided to wind down its business in the Russian Federation. According to Vedomosti, at the end of August, the new owners of Helly Hansen LLC instead of Helly Hansen Russia AS became its top managers – CEO Igor Roganovich and lawyer Andrey Karasev. The
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Kaspersky Lab announced that its VPN application Kaspersky VPN Secure Connection will no longer work in Russia. VPN will disappear from various complex products that Kaspersky Lab offers in Russia. In other countries Kaspersky Secure Connection will continue to operate as it is. The product will be discontinued in Russia
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German company Mercedes-Benz decided to exit the Russian market. The manufacturer will sell its shares in Russian local subsidiaries, Russian media report. The shares will be transferred to the Avtodom dealer network. The relevant authorities must still approve the completion of the transaction. The company stopped export and production of
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Swedish company Volvo Group is considering options to exit the Russian market. The company plans to fully or partially sell its business, Russian media Vedomosti reports. Volvo Group stopped production in Russia at the end of February, when Russia invaded Ukraine. It is expected that the deal may be concluded
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French food company Danone announced its exit from the Russian market. The company stressed that they decided to transfer control over their business in Russia, according to a press release [https://www.danone.com/content/dam/danone-corp/danone-com/medias/medias-en/2022/corporatepressreleases/Danone_PR_141022.pdf] . On October 14, the