#AceFinanceNews – KIEV – April 03 – Ukraine has stopped supplying sugar to Crimea, Nikolay Yarchuk, the head of Ukraine’s national association of sugar producers, Ukrsakhar, told journalists on Thursday.
The country has “lost the Crimean market,” estimated at about 100,000 tonnes of sugar, Yarchuk said.
He noted that Ukraine also suspended sugar export to Central Asian countries over some difficulties with transportation through Russian territory.
“We have stopped exporting sugar to Central Asia as the transit of our goods through Russia was suspended,” Yarchuk said.
According to Ukrsakhar’s data, Ukraine exported about 140,000 tonnes of sugar from September 2012 to August 2013.
#AceFinanceNews – MOSCOW – April 01 – Sochi Olympic kit and leisure sportswear outfitters, Russia’s BOSCO stores are withdrawing from the markets of Ukraine and Crimea, representatives told (Tass) on Tuesday.
A store executive based in Crimean Yalta could not say what had prompted the decision to close the store now located in Russia since Crimea’s accession to the Russian Federation.
All six stores operating in Ukraine and in Crimea will be closed.
There are two boutiques in Kiev, others in the cities of Kharkov and Donetsk in Ukraine’s mostly Russian-speaking east , and in the Black Sea city of Odessa in Ukraine’s south.
#AceFinanceNews – MOSCOW- March 31 – Shell has closed six filling stations in Crimea, a spokesman for Shell’s office in Ukraine, which is responsible for the filling stations network in Crimea, told Itar-Tass on Monday.
According to the spokesman, Alliance Holding, the operator of Shell retail network in Ukraine, has closed six out of 22 filling stations in Crimea. A decision to this effect was taken by the Alliance Holding board of directors back in October 2013 and stemmed from commercial considerations aiming to optimize the company’s activities.
“As of now, we can provide no comment about the future of our 16 remaining filling stations in Crimea. We are closely watching the development of the situation,” the spokesman said.
In the meantime, filling stations in Crimea operated by Russia’s oil major LUKOIL are working in the routine mode, the company told Itar-Tass.
Russian Oil News
#AceFinanceNews – MOSCOW – March 31 – Negative effects of sanctions imposed on Russia over Crimea are already evident and all efforts should be focused on meeting these conditions, Finance Minister Anton Siluanov told Rossiya 24 television on Monday.
“The question is how sanctions will develop. We must in no way weaken our positions on monetary policy, on the budget under such conditions.
On the contrary, it is necessary to stay focused and mobilize,” the minister said.
“Sanctions have already been announced and are in place,” he said. “The most unpleasant thing is that this list may change and we can see some anxiety as to what measures could be applied,” he added.
German chancellor against imposition of economic sanctions on Russia
Credits to Russia were already being withdrawn and investors were in no hurry to invest into Russian bonds or projects in Russia, the minister said.
“We are seeing certain pressure on our trade partners, who are revising relations with Russia,” Siluanov said. “All this negatively affects the Russian economy as well as the economies of those countries with whose entrepreneurs it has had arrangements,” he added.
#AceFinanceNews – SIMFEROOL – March 29
The banking system in Crimea, which separated from Ukraine and rejoined Russia after a secession referendum on March 16, will start operating at full capacity from March 31,Crimean Prime Minister Sergei Aksyonov said.
#AceFinanceNews – BERLIN – March 28 – Germany’s chancellor has emphasised the need to develop relations with Russian companies despite the country’s position on Crimea.
“Angela Merkel would like economic contacts to continue in future,” the German government’s spokeswoman, Christiane Wirtz said on Friday- itar-tass.
Investments should be made under reliable framework conditions, she said.
Earlier reports said the head of Germany’s state railway Ruediger Grube was planning to visit Russia in the middle of April.
Grube has regular meetings with the Russian Railways leadership, the German company says.
Russian News and Media Sources
#AceFinanceNews – BERLIN – March 27 – German Chancellor Angela Merkel has said the crisis around Ukraine should be resolved by political means without imposing economic sanctions on Russia.
Merkel said in Berlin on Wednesday after talks with South Korean President Park Geun-hye that the West “has not reached a stage that implies the imposition of economic sanctions” on Moscow.
“And I hope we will be able to avoid it,” she said. “I am not interested in escalation. On the contrary, I am working on de-escalation of the situation.”
German experts say economic sanctions against Russia that Western countries could impose for Russia’s position on the situation in Ukraine and Crimea would negatively affect Germany’s economy.
The German-Russian trade in 2013 totalled 76 billion euros; some 6,000 German companies do business with Russian enterprises; the overall volume of their investment totals 20 billion euros. Some 300,000 jobs in Germany depend on the country’s economic relations with Russia.
Earlier Wednesday, Russian Finance Minister Anton Siluanov commented on ratings agencies’ actions to revise the outlook on Russia’s sovereign rating.
“At present, the investors’ worries are connected with the consequences of sanctions. We see ratings agencies lower the outlook on Russia’s ratings.
It certainly puts us on alert. There are no basic grounds for changing the general stability of Russia’s economy,” Siluanov told the Rossiya 24 TV channel.
#AceFinanceNews – SIMFEROPOL,- March 26 – Andrei Belyaninov, the head of the Russian Federal Customs Service, said on Wednesday that the geography of Russia’s foreign trade could change thanks to Crimean ports.
“I am sure that Russia will have new partners because it has obtained a great number of ports together with Crimea’s incorporation.
They include two deep-water ports like Sevastopol and Yevpatoriya,” Belyaninov said in an interview with Itar-Tass and CrimeaInform news agencies after his visit to the Crimean peninsula.
Belyaninov said the trade with Russia accounted for a huge share in Crimea’s foreign trade.
Those figures automatically fell out of Crimea’s foreign trade statistics after the peninsula’s incorporation into Russia.
The Federal Customs Service chief noted a temporary decline in Crimea’s trade with other foreign partners who were watching how the political situation was unfolding on the peninsula.
“It is absolutely clear that Crimea is Russian and will remain such forever.
So the question when trade is going to reach its former volumes is just a matter of time,” Belyaninov said.
He found it hard to say what trade volumes could go through the Crimean customs in a short-term perspective.
#AceFinanceNews – UNITED STATES – March 26 – (Reuters) – The United States and the European Union agreed on Wednesday to work together to prepare possible tougher economic sanctions in response to Russia’s behaviour in Ukraine, including on the energy sector, and to make Europe less dependent on Russian Gas Society.
U.S. President Barack Obama said after a summit with top EU officials that Russian President Vladimir Putin had miscalculated if he thought he could divide the West or count on its indifference over his annexation of Crimea.
Leaders of the Group of Seven major industrial powers decided this week to hold off on sanctions targeting Moscow’s economy unless Putin took further action to destabilize Ukraine or other former Soviet republics.
#AceFinanceNews – BRITAIN – March 25 – Britain is reviewing an agreement it made with Russian state nuclear firm Rosatom on nuclear cooperation, in reaction to the crisis in Ukraine, according to the Department of Energy and Climate Change (DECC).
Britain last November signed an agreement with Rosatom to help the company prepare potentially to enter the UK market.
The DECC said it had put the agreement under consideration over the Crimea situation. “No decisions have been made on how this work will be taken forward,” Reuters quoted a DECC spokesperson as saying. Rosatom has not commented on the statement.