Russian energy major Gazprom has drawn the criticism of Turkish oil major BOTAS, which alleges that the Kremlin-supported entity has been using price increases to put pressure on Turkish firms. Officials from private Turkish oil and gas firms have expressed similar discontent with Gazprom, which they accuse of raising gas prices in order to induce…
Western sanctions from a conglomerate of EU and other Western countries have thus far failed to hit the pressure points in the Russian economy, according to spate of new articles. In fact, their imposition appears to be hurting several Western companies more than Russian ones and the primary factors causing economic pain in Russia are…
Russian households have shown the largest decline in consumption since 1991, according to new data just released. A slump of 44% in the value of the ruble has led to a decrease in overall purchasing power of the Russian consumer, and residents are comparing the situation to the fall of the USSR, when savings were…
Meetings in Minsk between leaders from France, Germany, Russia and Ukraine continued throughout the night on Monday and through much of the day on Tuesday as leaders attempt to craft a lasting cease fire agreement. The Ukrainian side, for one, has been optimistic in its predictions, with President Petro Poroshenko stating that he was certain…
The European Union will delay the continuance of sanctions against Russia by one week. The decision was made by the foreign ministers of the European Union in order to encourage successful peace talks between Russia and Ukraine, set to begin tomorrow in Minsk. The EU’s decision to forestall sanctions coincides with declarations made by German…
Chancellor of Germany Angela Merkel staunchly refused to provide lethal military support to Kiev on Saturday, instead throwing her support behind diplomatic and persuasion efforts to enact a ceasefire between government forces and Russian backed separatist militias currently engaged in ongoing fighting in eastern Ukraine. Her statements were immediately denounced by US Senator Bob Corker…
Foreign ministers representing the European Union countries agreed to extend existing sanctions against Russia for an additional six months. The extension continues a set of sweeping sanctions that affect Russian companies and individuals to the end of restricting their ability to interact with Western financial systems. The European Union did not, however, agree not to…
Unexpectedly, Russia’s Central Bank cut its interest rate by two points, citing a lower risk for inflation given the impending recession and low growth rates. The ruble weakened again against the dollar after the announcement to 72, its lowest level since December. Western economists cited their surprise at this development, and expressed concern that the…
Russian energy major Gazprom announced plans to begin supplying Turkey with natural gas in December of 2016. Gazprom’s plan, as outlined by chief Alexei Miller, is to route approximately 63 billion cubic meters of gas per annum underneath the Black Sea and into Turkey, which would then route it to European markets should the EU…
Law enforcement officials at the FBI announced that they have disrupted an alleged Russian-led spy ring operating out of New York City suburbs. The spy ring is purported to have been led by several different Russian agents operating under diverse identities in and around New York City, and that their activities included alleged attempts to…
STEPPE DISPATCHES 