No. 261
  USRCC Business Newsletter
USRCC Activities
Business Seminar 
"Doing Business with Russia: Risks and Rewards"

On March 4, 2020 the U.S.- Russia Chamber of Commerce in partnership with the U.S. Commercial Service held a business seminar  "Doing Business with Russia: Risks and Rewards".

Over sixty business executives, representing oil and gas, energy, real estate, manufacturing, finance companies, universities, bank, law firms gathered at the Petroleum Club of Houston for the morning seminar regarding commercial relationships between the U.S. and Russia.

Featured speakers included  James Golsen , Commercial Counselor, Senior Commercial Officer Embassy of the United States of America in Moscow, and  Tanner Johnson, Russia Desk Officer, Office of Russia, Ukraine & Eurasia, U.S. International Trade Administration (ITA). They received very positive feedback from the audience.  
Currently there are over 1,000 U.S. companies operating in Russia. The  10% of the Russian economy that is sanctioned is a serious consideration for the U.S. companies. However, the other 90% of the Russian economy provides real commercial opportunities for the U.S. companies of all sizes. U.S. companies continue doing business in Russia but in compliance with  the existing sanctions, export controls and other regulations that protect U.S. national security and foreign policy  interest.

In addition to the presentations, during the Q&A session the attendees had a rare opportunity to ask questions about their particular business cases. The business seminar was followed by the networking to encourage attendees to learn about new opportunities and share information about their businesses.

Our special thanks to the speakers -  James Golsen and  Tanner Johnson ; and the U.S. Commercial Service team -  Nyamusi Igambi and  Peter Tataris .

To see more event's photos visit our  Facebook page
Reception marking Moscow - Houston Partnership

On March 4, 2020, during the visit of Minister of the Moscow Government, Head of the Department for External Economic and International Relations of Moscow, Sergey Cheremin, the City of Houston and the City of Moscow signed a new working agenda pursuant to the Agreement of Cooperation between two cities signed in 2007. The new working agenda, among other things, includes cooperation in health care, tourism and education. 
After the signing ceremony Government of Moscow jointly with the U.S.- Russia Chamber of Commerce held the reception marking  Moscow - Houston Partnership  at Houston City Hall.  The event included Moscow city presentation was followed by the reception attended by more then eighty people. 

Reception hosted at Houston City Hall had been attended by the representatives of Houston's City Government; Harris County; Consulate General of The Russian Federation in Houston; Consulate General of Vietnam in Houston; Consulate General of the Republic of Indonesia in Houston; top executives officers and experts from oil and gas companies, legal, real estate, banking, engineering services. 

Christopher Olson, Director of the Houston Mayor's Office of International Trade and Affairs, delivered the opening remarks,  followed by the Hon.  A lexander B. Pisarev , the Consul General of Russian Federation in Houston, who focused on the partnership between the cities of Houston and Moscow.  Sergey Cheremin , Minister of the Moscow Government, Head of the Department for External Economic and International Relations of Moscow,  emphasized the importance of long-term Houston-Moscow relationships  and delivered the excellent presentation titled " Smart and Sustainable Moscow ", which reflected the global status of the city as the business, cultural and tourist center.

To review the presentation use the following link
To see more event's photos visit our Facebook page
Moscow Booth at the Houston Livestock Show and Rodeo™

In recognition of global interest, the Rodeo annually designates a series of International Days to express hospitality to the Rodeo's foreign guests. This year with assistance from USRCC the City of Moscow became an exhibitor at the Houston Livestock Show and Rodeo™ during the first week of March.  At the booth you can find information about City of Moscow, try some Russian treats and make a virtual tour over the city with VR googles. City of Moscow was featured during the opening night of the Rodeo.

The City of Moscow booth located on the 2nd floor of the NGR Center.
Dates of operations: March 3 - March 8, 2020.

USRCC Membership
Are you taking advantage of your  USRCC Member Benefits?

Renew your membership or join for the first time today!

For more information  click here 
Members' News
Lukoil and Republic of Uzbekistan to Develop Partnership, March 6, 2020:   Shavkat Mirziyoyev, President of the Republic of Uzbekistan, hosted Vagit Alekperov, President of LUKOIL, in Tashkent. Denis Rogachev, Senior Vice President for Overseas Oil and Gas Production, and Sergey Nikiforov, Vice President for Central Asia, Middle East and North Africa, also represented LUKOIL at the meeting.  The parties have mentioned a significant improvement of their strategic partnership. LUKOIL is a key investor to the oil & gas sector of Uzbekistan. Its main projects include the Kandym gas processing complex with an annual capacity of over 8 bcm of natural gas, South-West Gissar and Ustyurt Region fields development. The Company also actively supports social programs in Uzbekistan.  Read more ...
Gazprom and OMV introducing Amendments to Asset Sale Deal , March 6, 2020:  Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, today signed in St. Petersburg the Contract on the amendments to the Basic Agreement on Asset Sale. Under said Contract the parties have agreed, inter alia, to extend until June 2022 the negotiations for the final agreement on the deal.  Read more.. .
Atlantic Ro-Ro Carriers Inc - New York, USA, March 5, 2020: Atlantic Ro-Ro Carriers, Inc. was incorporated in New Jersey in 1995. We started the service using two small vessels with ro-ro capability.  Over the past three years, we have upgraded our vessels to carry more variants of cargo. This was in order to keep up with the changing cargo needs of the trade. Newer, larger, multi-purpose vessels were brought on to the service to accommodate cargo demands as well as increased ports of call.   Read more...
The Week in Review
OPEC Decides on Bigger Output Cuts, Awaits Agreement from Russia, March 6, 2020: The Organization of Petroleum Exporting Countries (OPEC) has proposed a larger-than-expected cut in oil production to help support prices and will press the message to non-cartel members, including a reluctant Russia, in a meeting on Friday, the Washington Post reports. OPEC said on Thursday it wanted to cut supplies by an extra 1.5 million barrels per day (bpd) until the end of the year - a deeper reduction than earlier suggested and for a longer period than had been expected . Read more...
Russia's Top Business Forum SPIEF Canceled over Coronavirus Fears, March 6, 2020: Russia will not hold its main business showcase, the Saint Petersburg International Economic Forum (SPIEF), in June due to the novel coronavirus outbreak, the head of its organizing committee said Thursday, according to Meduza. "With the aim of protecting the health of Russian citizens, guests and participants in the forum, it was decided not to hold it this year," the head of the organizing committee Andrei Belousov said through a spokesman. The forum was due to run June 3 to 6. Read more...
Russian Stock Market Ends Week in Red Amid a Record Drop in Oil Prices, March 6, 2020: The Russian stock market closed the week with a decline under the pressure of a record drop in world oil prices - by 9.3%. By the end of trading on the Moscow Exchange on Friday, the MOEX index fell by 3.5% to 2,719.46 points, the RTS index by 5%, to 1,257.94 points, according to trading data.   Read more...  
Russia's Inflation Headed towards Lowest Level in Post-Soviet history, March 6, 2020: Annual inflation in Russia has eased to 2.2 percent in February, according to the median estimate of 20 economists surveyed by Bloomberg. Statistics show that price growth briefly fell to that level in 2018. The Central Bank of Russia has cut its key rate in February by 25 basis points, from 6.25 percent to six percent. It left inflation outlook for 2020 unchanged, at 3.5-4 percent.  Read more...  
Deputy Prime Minister Yury Borisov and Tatarstan President Rustam Minnikhanov take part in a meeting with industrial enterprises of Tatarstan on fostering economic growth, March 5, 2020On March 5, Deputy Prime Minister of Russia Yury Borisov and Tatarstan President Rustam Minnikhanov took part in a meeting with large industrial enterprises of the republic on fostering economic growth. It was noted during the meeting that in his May decree Russian President Vladimir Putin announced a number of key tasks, including accelerating the pace of economic growth, expanding non-oil exports, and turning Russia into a top-5 world economy.  Read more..
 Airlines to Lose up to $113 BILLION in Revenue This Year due to Fall in Passenger Traffic, March 5, 2020: Airlines will lose $63 billion to $113 billion in revenue for passenger traffic globally in 2020, depending on how the coronavirus spreads, the International Air Transport Association (IATA) has announced. While air passenger demand in January rose 2.4 percent year-on-year, it was the slowest growth rate since April 2010, according to IATA data. IATA has attributed the weak demand to the Covid-19 outbreak, saying it expects a further weakening in February and March as the virus spreads outside China.   Read more...
India Sees Increased Opportunities to Replace China on Global Export Market, March 2, 2020: Indian exporters could push supplies on the global market to fill gaps left by neighboring China due to the coronavirus outbreak, said the Associated Chambers of Commerce of India (Assocham). According to Assocham, Indian exporters of electronics, pharmaceuticals, specialty chemicals and automobile parts depend on China for raw material. They are currently facing supply constraints due to the Chinese economy being hit by the coronavirus outbreak.   Read more...
Houston - Tyumen Sister Cities
 Production of petroleum products increased in the Tyumen region in 2019, March 3, 2020: Production of petroleum products increased in the Tyumen region in 2019. In 2019, industrial production index in the Tyumen region amounted to 108.1%. In the south of the region, the growth was provided by enterprises engaged in the production of petroleum products. Read more...
CIS Business News
Azerbaijan's SOCAR to Deliver 250,000t of Oil to Belarus in March, March 6, 2020: The Azerbaijani state-run company SOCAR is set to ship 250,000 tonnes of oil to Belarus in March, BelTA learned from Press Secretary of the Belarusian state petrochemical concern Belneftekhim Aleksandr Tishchenko. "SOCAR is set to supply more oil in March; a third shipload of oil will be made. The total amount of oil supplies will approximate 250,000 tonnes. These shiploads will not be the last for our refineries," Aleksandr Tishchenko said.  Read more...
WB isues loan to boost employment in Azerbaijan

A ,  March 6, 2020:   The World Bank's Board of Executive Directors has approved a $100 million loan from the International Bank for Reconstruction and Development (IBRD) to help finance the Azerbaijan Employment Support Project, the official website of the World Bank reported on March 5. The aim of the project is to boost employment and income for the most vulnerable population of Azerbaijan by promoting self-employment opportunities in labor markets where there are less potential to work. The project will be specifically targeted at women, young people, people with low education levels and IDPs in the country.    Read more..
US-Russia Related News in Russian
Новости недели
Премьер-министры стран ЕАЭС встретятся 10 апреля в Минске, Март 6, 2020:  Проведение Евразийского межправительственного совета с участием премьер-министров стран Евразийского экономического союза запланировано на 10 апреля в Минске. Об этом сообщил премьер-министр России Михаил Мишустин сегодня в Москве на встрече с председателем Коллегии Евразийской экономической комиссии Михаилом Мясниковичем, передает корреспондент БЕЛТА. "Необходимо завершить работу над проектом стратегии евразийской интеграции до 2025 года и обсудить ее на очередном заседании Межправсовета 10 апреля в Минске", - сказал Михаил Мишустин.   Читать далее...
Часть управления особым экономическим режимом в Арктике может перейти к регионам, Март 6, 2020:  Региональные институты развития смогут получить функции управляющей компании при создании в Арктике особого экономического режима. Предполагается, что они в частности будут работать с резидентами, сообщил журналистам в пятницу замглавы Минвостокразвития Александр Крутиков .  Читать далее...

T he USRCC is looking for new team members!

Volunteers  play a key role and the contributions they make impact the day-to-day functions of the chamber and shape the future of the relationship between Russia and the U.S.

There are many ways you can get involved with the USRCC. Whether you are an experienced leader or a student, there is a place for you. By volunteering you can be at the very center of our high-profile events held in Houston, Chicago and New York City and interact with influential leaders in the U.S.-Russia trade and investment.
To learn more about the position  click here or
contact us directly at   call 713.429.4680
USRCC Executive Partners




The U.S.-Russia Chamber of Commerce (USRCC)  is  a 501(c)(6) no t for  profit  corporation with its headquarters  in Houston, Texas,  and offices in the Midwest and the Northeast. The USRCC  was established in 2009 to promote  trade and investment  between  the  Russia n Federation  and the U.S. A.  
The information contained in this newsletter is provided for general information purposes only and does not constitute legal or other professional advice on any subject matter. USRCC does not accept any responsibility for any loss that may arise from reliance on information contained in this newsletter. The views and opinions expressed in this publication are those of the authors. They do not reflect the opinions or views of the USRCC or its members.  Links within this newsletter lead to other websites, including those operated and maintained by third parties. The linked sites are not part of the USRCC newsletter. USRCC includes these links solely as a convenience to the newsletter subscribers, and the presence of such links does not imply a responsibility for the linked site and its operator. USRCC cannot certify the accuracy of the material provided by the original  source .