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  • BERLIN, Feb 12- Polish Prime Minister Beata Szydlo said on Friday she was alarmed by the support of some European countries for a gas pipeline project with Russia, warning that such policy went against the European Union's sanctions against Moscow. Russia's Gazprom and its European partners signed a shareholders' agreement on the Nord Stream-2 project last...

  • *Russia, a poltical favorite, ability to fund plants, a bonus. JOHANNESBURG, Feb 12- South Africa will finalise requirements for its 9,600 megawatt nuclear power plant by April, with Russia and China the front-runners to win the bid, a government official involved in the negotiations told Reuters. Political alliances, Pretoria and Moscow's membership of the BRICS...

  • MOSCOW— A Russian regional court has ruled that an Orthodox Church diocese can repay part of an outstanding debt in prayers rather than money. In a ruling that went viral Thursday, the Nizhegorodsky Regional Court said the local Russian Orthodox Church diocese can repay 258,000 rubles it owes for the installation of a boiler system— along with an additional...

  • MOSCOW, Feb 11- Russia's central bank told Deutsche Bank about suspicious trades made by the German bank's clients via its Moscow office in 2014 and an investigation began after that, a senior central bank official said on Thursday. Those trades, which were identified last year, could potentially have allowed clients to breach Western sanctions on Russia over...

  • MOSCOW, Feb 11- Russia's central bank told Deutsche Bank about suspicious trades made by the German bank's clients via its Moscow office, a senior central bank official said on Thursday. Deutsche Bank, which is being investigated over "mirror trades" which may have allowed customers to move money from one country to another without alerting authorities, then...

  • Russia's ruble tumbles amid market turmoil Thursday, 11 Feb 2016 | 9:01 AM ET

    MOSCOW— Russia's ruble has dropped nearly 2 percent amid the turmoil affecting global stock markets and oil prices. The ruble was down by 1.9 percent at 80.1 rubles to the U.S. dollar in late afternoon trading in Moscow on Thursday. Central Bank chief Elvira Nabiullina rejected Thursday reports that authorities may welcome the depreciation of the ruble in...

  • Oil looked like it might rebound. Not anymore Wednesday, 10 Feb 2016 | 3:01 PM ET
    Excess gas is burnt off at a pipeline at Rumaila oilfield in Basra, Iraq January 26, 2016.

    Winds that hinted at partially reversing the oil price rout appear to be dying down. A number of experts now see 2016 as another waiting game.

  • *Budget shortfall up to $30 bln if oil prices stay at $30. MOSCOW, Feb 10- Russia is running out of options to plug a yawning hole in its budget- and steps unthinkable before oil prices began to plunge 20 months ago are now being considered. It could face an additional shortfall of up to 2.5 trillion roubles this year if crude prices stay at around $30 per barrel, putting...

  • Russia's Sechin floats idea of oil output cuts Wednesday, 10 Feb 2016 | 8:54 AM ET
    Crude oil refining in Russia

    The head of Rosneft floated the idea of an output cut by oil-producing countries to prop up sagging prices but fell short of saying whether Moscow take part.

  • *Turkey, Russia exchange barbs over downed plane. MOSCOW, Feb 10- Turkish conglomerate Fiba Group has put up for sale a bank it owns in Russia, two banking sources told Reuters, a decision that may be due partly to a row between Moscow and Ankara over the shooting down of a Russian warplane. Moscow denied that, and President Vladimir Putin, accusing Ankara of stabbing...

  • IMF chief warns Ukraine over slow pace of reform Wednesday, 10 Feb 2016 | 6:54 AM ET

    MOSCOW— The head of the International Monetary Fund warned Ukraine on Wednesday that the organization would be unable to keep supporting the country financially if it doesn't step up its reform efforts. Ukraine relies on funding from the IMF and international donors as it battles deep economic problems, in large part resulting from the conflict in the...

  • UPDATE 1-Russia's Sechin floats idea of oil output cuts Wednesday, 10 Feb 2016 | 5:15 AM ET

    *Says oil price drop driven by OPEC decision. Oil prices have slumped more than 70 percent to near $30 a barrel over the past 18 months as supply exceeded demand by up to 2 million bpd after OPEC, seeking to drive higher-cost producers out of the market, decided not to cut production. Struggling oil-producing countries have urged OPEC leader Saudi Arabia in recent...

  • Moscow small businesses razed, sparking anger Wednesday, 10 Feb 2016 | 5:15 AM ET

    MOSCOW— Russian activists and political commentators are criticizing Moscow authorities over the late-night destruction of small businesses when a number of buildings were flattened around the city on orders from city mayor's office. The Moscow mayor's office said that 97 of these "unauthorized constructions" were demolished Monday.

  • MOSCOW, Feb 10- Turkish business conglomerate Fiba Group has put up for sale its Russian mid-sized lender Credit Europe Bank, two banking sources told Reuters, against a backdrop of a diplomatic row between Moscow and Ankara that shows no sign of abating. Turkey and Russia have been at loggerheads since Turkey downed a Russian warplane in late November that...

  • MOSCOW— A top official at Russia's busiest airport says the halt or reduction of flights to Turkey, Ukraine and Egypt over the past three months has cost the country's airports six billion rubles. Denis Nuzhdin, the deputy CEO of Moscow's Domodedovo Airport, was quoted by state news agency Tass as saying Tuesday that about half the loss comes from Russia's...

  • THE HAGUE, Feb 9- Russia on Tuesday began its appeal in the Netherlands against an international arbitration order that Moscow pay $50 billion in damages to shareholders in the defunct Russian oil giant Yukos. Most of Yukos' assets were acquired by Russia's state-owned oil producer Rosneft after Yukos was declared bankrupt and its founder Mikhail...

  • Belarusian leader says Russia will offer bailout Monday, 8 Feb 2016 | 11:03 AM ET

    MINSK, Belarus— The leader of Belarus says Russia has promised to offer financial assistance to his nation. Russia has provided Belarus with cheap natural gas and released $900 million in loans to Belarus last year. Russia and its western neighbor have developed close economic and military ties, but Lukashenko has bristled at Moscow's attempts to gobble up...

  • Russia's central bank revokes licenses of 2 banks Monday, 8 Feb 2016 | 2:41 AM ET

    MOSCOW— Russia's Central Bank effectively closed down two of the country's smaller banks Monday after it revoked their operating licenses, its latest effort to consolidate the sprawling banking sector. The closures are part of the Central Bank's strategy to consolidate the banking sector that is currently characterized by a large number of small banks,...

  • WASHINGTON, Feb 5- Russian authorities in November raided offices associated with a Moscow film distribution and production company as part of a crackdown on one of the world's most notorious financial hacking operations, according to three sources with knowledge of the matter. Experts familiar with the situation said the case represents Russia's biggest...

  • Day of reckoning here for oil producers: Yergin Friday, 5 Feb 2016 | 5:36 PM ET
    A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016.

    Saudi Arabia, Russia and other countries that heavily rely on oil revenues are getting more desperate, oil expert Daniel Yergin tells CNBC.