` Vladimir Putin Voices Hope for Settling Ukraine’s Debt ‘

#AceFinanceNews – MOSCOW – May 28  – Russian President Vladimir Putin has voiced hope for settling a dispute with Ukraine that could cut off Russian gas supplies to Europe.

In televised remarks at Wednesday’s Cabinet session, Putin signalled that Russia could negotiate new terms for gas shipments to Ukraine if it pays off part of its debt.

Energy Minister Alexander Novak reported at the session that Ukraine must pay $2 billion before Friday and another $500 million before June 7. Once Ukraine makes the first payment, Russia could negotiate a price discount for future supplies, he said.

Moscow has ratcheted up pressure on Ukraine after its pro-Russian president was chased from power in February after months of protests. Since then, Russia annexed Ukraine’s Crimean peninsula and a pro-Russia insurgency has engulfed eastern Ukraine.

Moscow Times

#ANS2014 

Enhanced by Zemanta

#afn2014, #alexander-novak, #crimea, #donetsk, #moscow, #petro-poroshenko, #russia, #ukraine, #vladimir-putin

` Russia Allocates Seventy Billion Roubles for Crimean Development ‘

#AceFinanceNews – MOSCOW – May 24 – Russia has allocated about 70 billion roubles, or abour $2 billion, for the development of Crimea and the city of Sevastopol since the two new regions joined the country, Russian Prime Minister Dmitry Medvedev told the Vesti v Subbotu TV programme.

This was the reserve financing that by no means harmed budget financing of other Russian regions, he added.

#ANS2014 

 

Enhanced by Zemanta

#afn2014, #crimea, #dmitry-medvedev, #government, #prime-minister-of-russia, #russia, #sevastopol, #subdivisions-of-russia, #ukraine

` CBR Orders Six Ukrainian Banks in Crimea and Sevastopol to Stop Trading ‘

#AceFinanceNews – MOSCOW – May 13  – The Central Bank of Russia has ordered six Ukrainian banks to stop operations in Crimea and Sevastopol starting from May 13, the regulator said in a statement.

In passing the decision, the CBR referred to Article 7 of the federal law dated April 2, 2014, on specifics of the functioning of Crimea’s and Sevastopol’s financial system during the transitional period.

Among the banks are Kiev-based Terra Bank, Odessa-based Finrostbank, Kiev-based  Bank “Finance and Credit”, Kiev’s Commercial Bank “Financial Initiative”, Dnipropetrovsk-based Accent-Bank and Kiev’s Avant-Bank.

According to the CBR statement, the banks have failed to fulfil their obligations.

Therefore, they were closed in compliance with the Russian legislation.

The decision was dictated by the task to protect the interests of depositors and clients, whose legitimate interests were violated as the above banks stopped operation in Crimea and Sevastopol with no prospects for resuming work.

There was no other opportunity to ensure effective protection of rights of the depositors and clients of these banks, except by stopping their operation, the CBR said.

http://tinyurl.com/l6de5ep

http://tinyurl.com/l6de5ep

#ANS2014 

Enhanced by Zemanta

#afn2014, #cbr, #central-bank-of-russia, #commercial-bank, #crimea, #dnipropetrovsk, #kiev, #odessa, #sevastopol

` Russian Defence Ministry Planning to Deploy Additional Forces in Crimea under $2.5 Billion Programme ‘

#AceFinanceNews – MOSCOW – May 06 – The Russian Defence Ministry is planning to deploy additional forces in Crimea as part of beefing up the Black Sea fleet under a $2.5 billion program. The need for new deployment emerged after the formerly Ukrainian peninsula joined Russia.

“Before year’s end we will form new units of air defence and marine troops at the sites of our fleet’s deployment,” Defence Minister Sergey Shoigu said Tuesday. “The fleet will receive new submarines and surface ships of new generation this year. This requires our attention.”

The minister stressed that the Navy beef-up program for the Black Sea fleet was extended due to Crimea, the fleet’s base, becoming part of Russia in March. The ministry plans to spend more than $2.4 billion for the purpose by 2020.

The announcement of deployment plans comes after Russia voiced concerns of the build-up of NATO forces in Eastern Europe and the Black Sea. The alliance deployed aircraft and warships as well as ground troops, saying it was needed to instil confidence in its members like Poland, Romania and the Baltic states.

RT

#AFN2014

#baltic-states, #black-sea, #crimea, #defence-minister-sergey-shoigu, #eastern-europe, #europe, #moscow, #nato, #poland, #romania, #russia, #ukrainian

#AceFinanceNews SIMFEROPOL April 14 QHA Crimea to shorten…

#AceFinanceNews – SIMFEROPOL – April 14 – (QHA) – Crimea to shorten the period of time during which the Russian Ruble and Ukrainian Hryvnia will simultaneously circulate in the region due to the declining value of the Hryvnia, Crimean vice premier Rustam Temirgaliyev announced.

“Amid declining value of the Hryvnia and the possibility of default in Ukraine we have to reconsider the terms of operating two-currency system in the region. We discuss the possibility of a withdrawal of Hryvnia in a short period of time”- he said.

“We discuss the possibility of a significant withdrawal of Hryvnia in case of unrestricted exchange of the Ruble and Hryvnia along with deposit compensation from Ukrainian banks in Crimea Deposit Insurance Agency (DIA).

DIA already opening its offices in Crimea”- Temirgaliev added.

#AFN2014

#crimea, #crimea-deposit-insurance-agency-dia, #hryvnia, #ruble, #russian, #simferopol, #ukraine, #ukrainian

` China is looking at `Alternative Energy Projects in the Crimea ‘ meanwhile Gas Supplies are being Finalised ‘

#AceFinanceNews – Moscow – April 14 – China takes interest in alternative energy projects in Crimea, Russian Vice-Premier Arkady Dvorkovich.

“We also agreed (during talks in China) that we will look into new projects, including in our new regions. Chinese colleagues who deal with alternative energy, take interest in these projects in the Republic of Crimea,” Dvorkovich said at a session chaired by Prime Minister Dmitry Medvedev.

Gazprom’s contract on supplies of Russian gas to China would be finalized by the upcoming visit to China by Russian President Vladimir Putin, due in May, he said at a session chaired by Prime Minister Dmitry Medvedev on Monday.

Also Russia may increase electricity, coal supplies to China fourfold.
“Talks on gas are nearing completion, and there is a general intent to finish that work before Russian president’s visit,” he said.

Tass – Russian Media and Energy News Sources.

#AFN2014

#china, #chinese, #crimea, #energy, #gas, #moscow, #republic-of-crimea, #russia, #russian, #russian-president-vladimir-putin

` Ukraine Suspends Natural Gas Intake from Russia as Result of Gas Hike and said it will Resume at Right Price’

#AceFinanceNews – UKRAINE – April 10 – (Neurope) – Ukraine has suspended natural gas intake from Russia since April 1 as a result of a price hike, the country’s Energy Minister Yury Prodan said Wednesday.

 "We are not pumping Russian gas today, but we still have time to resume the appropriate gas flows," Prodan told a media briefing.

 The suspension came after Russian gas monopoly Gazprom cancelled discounts on natural gas supplies to Ukraine, citing Kiev's non-fulfilment of its debt obligations and "changing circumstances" over Crimea.

 Russia set the price of gas to Ukraine at 485 U.S. dollars per 1,000 cubic meters.

 Prodan said his country is ready to resume gas imports from Gazprom if Moscow returns to the price of 385 dollars.

As of early April, Ukraine’s accumulated debt for gas supplies from Russia topped 2 billion dollars.

 In 2010, Russia and Ukraine signed a gas-for-fleet agreement, with Moscow offering a discount for gas in exchange for extending its lease of the Black Sea Fleet in Crimea for another 25 years.

 The Kremlin said the pact was no longer valid as Crimea joined Russia after a referendum last month. 

#AFN2014

#crimea, #discounts, #energy-minister-yuri-prodan, #gas, #gazprom, #imports, #kiev, #moscow, #russia, #russian, #ukraine

` National Bank of Ukraine has denied information about a seizure of its building in Luhansk Region ‘

#AceFinanceNews – KYIV – April 07 – (Interfax) – The National Bank of Ukraine has denied information about a seizure of its building in the Luhansk region, saying its department in the Luhansk region is working normally.

“The information about a seizure of the National Bank building in the Luhansk region reported by some news media today is not true. As of Monday, April 7, 2014, the establishment was working normally. All divisions are in their places and are fulfilling their functions,” the National Bank press service reported on Monday.

Retraction: RIA Novosti

National Bank Rejects Reports of Branch Seizure in Eastern Ukraine

http://en.ria.ru/world/20140407/189086577/National-Bank-Rejects-Reports-of-Branch-Seizure-in-Eastern.html
14:33 07/04/2014

The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

KIEV, April 7 (RIA Novosti) – The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

“We officially announce that this information is false,” the agency said, citing the bank’s press service, which also added the branch is operating normally.

A group of protesters pushing for broader regional autonomy stormed government buildings in Donetsk, Lugansk and Kharkov in eastern Ukraine on Sunday, according to local media reports.

Nearly 3,000 people reportedly took control of the national bank’s building in Lugansk. Demonstrators flooded the streets in the city, waving Russian flags and chanting “Russia! Russia!”

Calls for secession and federalization have been spreading across Ukraine’s mainly Russian-speaking eastern regions after Ukrainian ultra-nationalists, who make up the bulk of the erstwhile opposition, rose to political prominence following a change of the country’s leadership that resembled a coup in February.

Protesters in eastern Ukraine, who have refused to recognize the legitimacy of the new authorities, have been gathering since March, demanding referendums on the status of their regions.

Talk turned to action in Crimea, a predominantly Russian-ethnic peninsula, which voted overwhelmingly to rejoin Russia in a referendum on March 16. The region’s reunification with Russia was finalized several days later.

Russian Foreign Minister Sergei Lavrov said late last month Russia has no intentions or interests whatsoever in crossing the Ukrainian border.

He also said Moscow believes the only solution to the political crisis in the country is constitutional reform providing for the federalization of the country, which is split linguistically into a Russian-speaking east and a Ukrainian-speaking west.

A recent report by Russia’s Institute for Globalization and Social Movements (IGSO) said the presidential election in Ukraine could increase separatist tendencies in eastern and southern regions, adding the country might split after the May 25 election.

el/yz/rm

© 2014 RIA Novost

#AFN2014

#crimea, #institute-for-globalisation-and-social-movements-igso, #kyiv, #luhansk, #moscow, #national-bank-of-ukraine, #russias, #russian, #russian-foreign-minister-sergei-lavrov

` Crimea Requires $3-5 Billion US-Dollars to Achieve Energy Self-Sufficiency according to RFM Yuri Prodan ‘

#AceFinanceNews – KIEV- April 03 – Crimea will need 3-5 years and almost 5 billion U.S. dollars to achieve energy self-sufficiency, parliament-appointed Energy and Coal Industry Minister Yuri Prodan said.

“This is a very complex issue. Crimea is dependent in terms of energy, of course. The autonomy depends on the Ukrainian energy system by 90 percent, and if the ties are broken, the peninsula will face serious energy problems,” he told the Government Courier on Thursday, April 3.

He noted that the question of energy self-sufficiency “will be settled after the adoption of the law on temporarily occupied territories”.

The construction of new power generation capacities for Crimea will cost about 90-100 billion roubles, Russian Energy Minister Alexander Novak said earlier this week.

“On the average, we think that it will cost 1,500-2,000 U.S. dollars to build one kW of generation capacities. So 1,320 MW may cost 90-100 billion roubles at the current exchange rate,” the minister said.

He said natural gas for power generation in Crimea might come from the South Stream gas pipeline to pass by along the Black Sea bottom.

“These will most likely be power plants working on the gas which is extracted here in Crimea and the gas which can be taken from South Stream,” he said.

Crimea’s gas producing company Chernomorneftegaz plans to extract over two billion cubic metres of gas in 2014, which is 15 percent more than the peninsula needs, the CrimeaInform news agency said.

Russian and Crimea News

#AFN2014

#black-sea, #chernomorneftegaz, #crimea, #gas, #kiev, #south-stream-transport-bv

` Law on the Functioning of of the `Financial System ‘ of ` Crimea ‘ takes Affect today Friday 4 2014 ‘

#AceFinanceNews – MOSCOW – April 04 – The federal law on the functioning of the financial system of Crimea on Friday took effect. It structures the work of the regional credit institutions in accordance with the Russian regulations.

The Crimean financial system at first will be based on the local banks, and then the key credit institutions, working across Russia will come to the sector.

The Crimean financial establishments so far have been allowed to continue their operation if they pass state registration before the end of the year and ensure the lower limit of own capital at 300 million roubles.

The Russian Central Bank (CBR) will control the interest rate on deposits, set the ceiling of tariffs on bank transactions. The operation of all currency exchange offices will be brought in line with the general federal standard by January 1, 2015.

All issues of securities in Crimea are subject to inclusion in the unified state register.

Also, the circulation of shares that are not denominated in roubles is terminated.

Russian and Crimea News

#AFN2014

#crimea, #crimean, #moscow, #russia, #russian, #russian-central-bank-cbr