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The flagship H&M store in downtown Moscow was closed on November 30. Since then, all stores of the H&M Group in Russia have been closed. H&M is Europe’s largest clothing and accessories retail chain that has been operating in Russia since 2009. Earlier
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On December 5, the decision of the EU Council on the price cap for Russian oil and the ban on maritime transportation of Russian oil to third countries came into force. The maximum price for oil and oil products originating from or exported from Russia is set at $60/barrel.
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European Union diplomats have agreed on the ninth package of sanctions over the Russian invasion of Ukraine, Reuters reports. It is reported that the 9th package of EU sanctions is directed against the "industrial complex" of the Russian Federation. The package aims to stifle the strengthening of Russian
Economy
Japan has imposed a price cap on Russian crude oil from December 5, excluding imports from the Sakhalin-2 plant. This was stated in a government statement, Reuters reported. The decision was made after an agreement between the G7 countries and Australia to cap the price of Russian crude oil at
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Following sanctions, Russian BRPI factory has lost the rights to the original recipe, to continue to operate under the American brand, and to produce ice cream in the Russian Federation uder this name. However, there will be a rebrand. Russian ice cream manufacturer JSC BRPI will register a new trademark
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The company has made a decision to finally leave the Russian market. According to the Izvestia's sources, Electronic Arts made the decision to leave Russia. This information is confirmed by a former employee of a marketing agency that worked with the company. Earlier on March 4, EA had
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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