Russian market News

Russian E-commerce Firm Ozon Assesses Damages After Massive Warehouse Fire

MOSCOW – Russian e-commerce company Ozon said on Thursday it was still assessing the economic damage from a huge fire at its warehouse near Moscow, but that there were no significant risks to its liquidity and operational activities. At least …

State-Controlled RNRC Says It Now Covers Nearly All Russian Reinsurance

State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western sanctions. “I can say that of today, nearly all Russian insurance market …

Seven Taiwanese Insurers Have Not Received Russian Eurobond Payments: Regulator

Taiwan’s financial regulator said on Tuesday that seven Taiwanese insurance companies have not received interest due on May 27 on Russian Eurobonds after a grace period ended on Sunday evening. Russia defaulted on its international bonds for the first time …

Russia Defaults on Foreign-Currency Debt for 1st Time in More Than a Century

Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. For months, the country found paths around the penalties imposed after the …

Allianz to Retain 49.9% Stake in Russian Operations After Sale to Interholding

The insurer Allianz said on Friday it would sell a majority stake in its Russian operations to the owner of a Russian insurer as it sought to pare its footprint in the country after the invasion of Ukraine. Allianz, which …

EU Poised to Approve Sanctions Against Russia, Covering Oil, Banks and Insurance

European Union ambassadors are set to approve a sixth package of sanctions over Moscow’s invasion of Ukraine, banning most Russian oil imports by year-end and restricting Russia’s ability to ship crude to countries worldwide. The sanctions would forbid the purchase …

EU to Weaken Russia Oil Sanctions, but Keeps Plan to Prohibit Insurance of Shipments

The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its crude. The bloc will …

EU Seeks to Target Russia’s Global Oil Exports With Insurance, Services Ban

The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to ban European …

Medical Gear Deliveries to Russia Hit by Sanctions-Related Insurance, Transport Hurdles

Exports of essential medical devices Russia is dependent upon from the West have been partly restored, reducing the immediate risk of life-threatening shortages after a near-total collapse when the war in Ukraine began, a Western industry source told Reuters. Russia …

Russia Credit Insurance Signals Record 99% Chance of Default Within Year

The cost of insuring Russia’s government debt surged to signal a record 99% chance of default within the year after its Finance Ministry paid some of its dollar bonds with rubles. Credit-default swaps insuring $10 million of the country’s notes …