World Bulletin / News Desk
Russian President Vladimir Putin signed a decree on Tuesday to protect the interests of strategic companies operating abroad, requiring them to obtain government permission to disclose information to foreign regulators, change contracts and sell property abroad.
The decree follows a warning by state-controlled gas export monopoly Gazprom to the European Commission that a European Union investigation of Gazprom's business in Europe touched the interests of a strategic Russian company.
"The decree establishes the obligation of a federal executive body to refuse permission to conduct the aforementioned activities if they are capable of damaging the economic interests of the Russian Federation," said the text of the decree, distributed by the Kremlin.
The decree covers foreign subsidiaries of Russian companies defined by the government as strategic.
Putin on Sunday ruled out a trade war over the European Commission's anti-trust investigation, which focused on Gazprom's policy of linking contract gas prices to oil prices, suspicions that Gazprom was hindering the free flow of gas in Europe and preventing supply diversification.
The EU announcement marks the formal launch of an investigation that began with raids of Gazprom subsidiaries in Europe a year ago.
Since then, Gazprom has made substantial price concessions in its oil-linked contracts to most of its major European customers.
As a candidate for membership of the EU, Serbia is under pressure to bring its foreign policy into line with that of the 28-member EU
Judge said a proposed law announced by Argentina's president this week would violate orders he imposed favoring creditors who refused to accept restructured bonds following the country's record 2002 default.
It is too early to say how the sanctions will have an impact on Statoil’s activities in Russia, according to company official.
Brazil's ambassador to Moscow says he is confident mutual trade can be boosted after Russian authorities approved nearly 140 Brazilian meat producers who are set to gain from sanctions imposed on Russia over Ukraine.
The tanker loaded the Kurdish crude at the Turkish port of Ceyhan around Aug. 8, and made a partial delivery to Croatia via a ship-to-ship transfer last week.
Soaring Chinese demand for commodities like coal has underwritten Mongolia's rapid growth, with more than 90 percent of its exports sold to China.
In a sign of frustration at the lack of broad support for reform, Sheremeta said on his Facebook page that he no longer wanted to "fight against yesterday's system".
McDonald's operates 438 restaurants in Russia and sees the country as one of its top seven major markets outside the United States and Canada
A tanker has docked at Es Sider and begun loading 600,000 barrels of oil, said Mohamed El Harari, spokesman for state-run National Oil Corp
Ethiopia, Africa's largest coffee grower, is set to continue talks with global buyers in hopes of branding and trademarking its world-renowned coffee and boosting national revenue.
Russia has banned the import of EU food products including fruit and vegetables from Poland, whose total food exports to Russia were worth around $1.5 bln last year.
Ukraine is prepared to compromise on the price until a lawsuit it has filed against Gazprom is resolved, minister Yuri Prodan said.
Finnish electricity specialist Hiekkala: 'Finland and Baltic countries have possibilities to replace the import from Russia by own capacity or Nordic import.'
The Bahraini-based Dar Group (Al-Shair and Partners) and its Egyptian subsidiary, Dar al-Handasah, were awarded the contract worth some $1.8 billion to draw up the master plan for Egypt's Suez Canal development project.
Citizens unable to pay their credit card bills can apply to Finance Ministry to have their debts expunged.
Greek Cypriot Farmers’ Union EKA general secretary Panicos Hambas said that the Russian sanctions on the Greek Cypriot export of citrus fruits could lead Turkish Cypriot farmers to export their own fruits to Russia via Turkey.