No. 262

  U SRCC Business Newsletter

The U.S.-Russia Chamber of Commerce presents

The 11th Annual Welcome Reception Honoring Delegations  from  Russia, Kazakhstan and Azerbaijan 
at the Offshore Technology Conference (OTC 2020) 

The USRCC is pleased to invite you to our 11th Annual OTC reception - one of our largest annual events that is  attended by 300 to 400 oil and gas industry leaders and Government officials from around the world.

The Offshore Technology Conference (OTC) is the largest oil and gas sector trade show in the world. More then 50 years, OTC has played a major role in connecting people from more than 100 countries to encourage collaboration and discussions on the challenges and successes encountered in the offshore sector. No other offshore energy event connects 59,000+ attendees while leveraging the multidisciplinary knowledge from 13 professional societies.

Important note: as of 6 March 2020, OTC organizers continue to closely monitor the situation around COVID-19 and plan to move forward for the 2020 event. As these fluid conditions evolve, we will thoughtfully and proactively provide updates. 

Hotel ZAZA, 
5701  Main Street,  Houston, TX 77005
Fountain Room

Tuesday, May 5, 2020 /  6:00 pm - 9:00 pm

USRCC Member -  $50 Non-Members - $100
*Please note: refunds will not be issued  after May 3, 2020

For sponsorship opportunities please contact:
The U.S.-Russia Chamber of Commerce
2900 Wilcrest Drive, Suite 133, Houston, TX 77042
Phone: 713.429.4680 

USRCC Membership
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Members' News
Lukoil and Rosavtodor Sign Road Service Agreement, March 10, 2020:   Deputy Head of the RF Federal Road Agency (Rosavtodor) Igor Kostyuchenko and Vice President of LUKOIL for Petroleum Products Sales Maxim Donde signed a cooperation agreement in Moscow, today. The signing ceremony was attended by the RF Minister of Transport - Head of Rosavtodor Andrey Kostyuk and the President of LUKOIL Vagit Alekperov.  Read more...
Emerson to Present Webinar on Latest Refrigerant Rulemaking, March 10, 2020:  Emerson (NYSE: EMR) announced it will be hosting an E360 Webinar on the refrigerant regulatory updates and industry trends impacting both commercial refrigeration and air conditioning (AC) applications. Dr. Rajan Rajendran, vice president, systems innovation center and sustainability for Emerson, will be co-presenting. He will be joined by his colleague, Jennifer Butsch, manager, regulatory affairs for Emerson, in a webinar titled "Refrigerant Regulations Update and Industry Trends" on  Tuesday, March 31 at 2 p.m. EDT (11 a.m. PDT).  Read more...
Lukoil and Stavropol Region to Continue Cooperation, March 12, 2020The Government of the Stavropol Region and LUKOIL have concluded a supplementary agreement on cooperation to develop public amenities.  According to the document, the company will render support to acquire equipment for the Nika s ports club in the city of Budyonnovsk that will be used to train children in sailing, yachting and aquatic motor sports. The region will commence state expert review of the redevelopment project for one of most popular local leisure areas - the Buyvola Lake embankment. The project includes waterside reinforcement, redevelopment of beaches, construction of a play space, illumination system, cycling and jogging lanes.  Read more...
Lewis Brisbois Securities & Corporate Finance and China Practice Team Advises Leading Digital Media & Entertainment Company on Significant Business Combination, March 12, 2020: Sacramento Partners Scott E. Bartel and John P. Yung recently advised Glory Star New Media Group Limited (Glory Star), a leading mobile and online digital media and entertainment operator in China, on a business combination with TKK Symphony Acquisition Corporation (TKK), a special purpose acquisition company. Pursuant to the business combination, TKK acquired Glory Star and changed its name to Glory Star New Media Group Holdings Limited.  Read more...  
The Week in Review
Trump suspends ALL Travel from Europe for 30 Days Starting Friday  as He Addresses Nation on Coronavirus, March 12, 2020:  US President Donald Trump has announced that all travel from Europe to the United States will be temporarily halted for a period of 30 days, in the most significant measure yet taken to stem the spread of the lethal coronavirus.  In an address to the nation on Wednesday night, the president said the 30-day travel ban will take effect on Friday at midnight, noting that the United Kingdom would be exempt from the new restrictions.  "After consulting with our top government health professionals, I have decided to take several strong but necessary actions to protect the health and wellbeing of all Americans,"  Trump said in the address. Read more...
Russian Stock Market Crashes on First Day of Trading After Oil Price Chaos, March 10, 2020 The ruble-denominated MOEX Russia  index nosedived on Tuesday as trading opened on the Moscow Exchange  for the first time after an oil price war waged by Saudi Arabia, the Moscow Times reports.  The MOEX index dropped by 10.4% to 2,436 points while the dollar-denominated RTS Index  fell by 16% to 1,056 points, the lowest levels since the winter of 2019.  Russia's oil companies were hit hardest, with giants Rosneft and Lukoil leading the loserboard with falls of more than 10%.  The fall appeared softer than traders had been anticipating, however, as the MOEX Index of leading Russian shares came back slightly to stand down around 7.5% by mid-morning in Moscow, and emergency measures such as a complete halt to trading were not required.  Read more...
U.S. import prices post biggest drop in six months, March 13, 2020: U.S. import prices fell by the most in six months in February as the cost of petroleum products dropped, and economists said they could decline further because of the coronavirus pandemic and an oil price war between Saudi Arabia and Russia.  The Labor Department said on Friday import prices slipped 0.5% last month after an upwardly revised 0.1% gain in January. Import prices, which exclude tariffs, were previously reported to have been unchanged in January.  Read more...
Oil Falls More than 5% after Trump Surprises with Travel Ban, March 11, 2020:   Oil prices fell more than 5% on Thursday after U.S. President Donald Trump unexpectedly announced restrictions on travel from Europe, in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.  Read more...
U.S. Sanctions Second Rosneft Subsidiary for Backing Maduro, March 13, 2020:  The U.S. sanctioned a second subsidiary of Russia's biggest oil producer, Rosneft PJSC,  for allegedly supporting Venezuelan leader Nicolas Maduro.  TNK Trading International SA, a Geneva-based Rosneft subsidiary, was sanctioned for helping transport Venezuelan crude oil, the Treasury Department said Thursday in a statement. In February, Bloomberg News reported that TNK was ramping up  planned shipments from Venezuela after sanctions were brought against Rosneft Trading SA , the top buyer of Venezuelan crude last year, for helping sell the commodity that bankrolls the Maduro regime.  Read more...  
Dollar above 75 Rubles First Time from September 6, 2019, March 12, 2020: The dollar rose by 3% during the trading session on the Moscow Exchange on Thursday to 75.16 rubles, according to trading data. The dollar rate was at the level of 75 rubles last time on February 29, 2016. The euro added 2.8% during the trading session and reached 84.48 rubles. Read more... 
Russia's Energy Ministry does not see conditions for new OPEC+ deal right now, March 13, 2020 The possibility of concluding a new OPEC+ deal was not discussed on March 12 at a meeting of Russian Energy Minister Alexander Novak with oil companies, he said on Friday. He added that he does not see conditions for a new agreement at the moment due to the actions of OPEC partners. "We did not discuss this. We do not see conditions for such proposals. We do not see conditions forming. You see how OPEC participants behave, therefore, movement is hardly possible against this background," Novak said.  Read more...
Houston - Tyumen Sister Cities
The University of Tyumen is helping experts find solutions to major global challenges such as climate change and biosecurity threats, March 11, 2020:  Like many global-facing institutions, the University of Tyumen has ambitious plans for its research capabilities. From developing green technologies to combat the effects of climate change in the Arctic Circle to protecting against the impending threats to human biosecurity, the university is well placed to take on the challenges ahead.  Tasked with overseeing the implementation of these projects is Andrei Tolstikov (Pictured, centre), vice-rector for research and international affairs. The challenges are considerable, "but it is also a very exciting time to be doing research in Russia", he says. Read more...
CIS Business News

Kazakhstan scrambles to reassure public after oil price fall,  March 9, 2020:  Kazakhstan's president has ordered the creation of a rapid-response unit to deal with the fallout of tanking prices for oil, the country's most important export commodity, and as anxiety leads to a surge in the value of the dollar on the streets.  Kassym-Jomart Tokayev told  meeting of Cabinet officials and the National Bank chairman on March 9 that a crisis plan would focus on supporting employment. He warned that cuts to the budget could be expected, but that his top priority was to "fulfil  all social obligations."  The prime minister's office said in its own statement  that the government at national and local level would be  paying "special attention to preventing unjustified price increases, particularly for socially significant goods and services."  Read more..
First tanker with Azerbaijani oil for Mozyr Oil Refinery arrives in Odessa port, March 12, 2020:  The first tanker carrying Azerbaijani oil intended for Mozyr Oil Refinery has reached the Odessa port, BelTA learned from Aleksandr Tishchenko, Press Secretary of the Belarusian state petrochemical concern Belneftekhim.  The official said: "A tanker with 90,000 tonnes of Azeri Light oil has arrived in the port of Odessa. The ship is being moved to the unloading berth. Oil drainage and routing to the pipeline will begin today." 
Azerbaijan Energy Ministry announces daily oil production, March 12, 2020:  Azerbaijan's daily oil production amounted to 750,6 thousand barrels, including 667,000 barrels crude oil and 83,2 thousand barrels condensate in February 2020, the Ministry of Energy reported on March 10.  Daily export of crude oil constituted 530,3 thousand barrels, while export of condensate and oil products accounted for 79,6 thousand and 12,4 thousand barrels  respectively.   Azerbaijan has completely fulfilled its commitment to maintaining the  daily production at 769,000 barrels.  Read more...
US-Russia Related News in Russian
Новости недели
Власти США уточнили условия запрета на въезд в страну из Европы, March 12, 2020: В США разъяснили правила запрета на въезд прибывающим в страну из Европы. Как говорится в официальном заявлении Министерства внутренней безопасности, запрет касается лиц, которые посещали Шенгенскую зону последние 14 дней перед прибытием в Штаты. Исключение составят лица, имеющие статус постоянного жителя США, их ближайшие родственники и ряд других категорий.  Читать далее...

Как новый курс рубля скажется на ценах и инфляции,  Март 11, 2020:  Зарубежные товары, ввозимые в Россию, на фоне падения курса рубля и влияния коронавируса на экономику могут подорожать в диапазоне 10-35%, а те, что выпускают международные компании внутри страны, - максимум на 10%. Т акой прогноз дали опрошенные «Известиями» эксперты.  Больше всего, по их мнению, вырастут в цене детские товары, одежда и обувь, потребительская электроника, бытовая техника и фармацевтика . При сохранении текущего курса рубля на 10-15% может увеличиться и стоимость жилья. Эксперты отмечают, что импортозамещение в России в целом дало результаты - особенно в сельхозпродукции, и благодаря этому инфляция не превысит целевого значения в 4%.  Читать далее...
Беларусь и Армения обсудили перспективы торгово-экономического сотрудничества, Март 12, 2020:  Министр лесного хозяйства Беларуси Виталий Дрожжа и министр экономики Армении Тигран Хачатрян обсудили перспективы развития торгово-экономического сотрудничества двух стран во время проведения межправительственной комиссии в Ереване.  В беседе с журналистами Виталий Дрожжа рассказал, что на заседании обсуждались вопросы, представляющие взаимный интерес. Это возможности развития сотрудничества в сферах промышленности и промышленной кооперации, транспорта, сельского хозяйства, научно-технической, высоких технологий, инноваций и оцифровки, энергетики, культуры, образования, спорта и здравоохранения.  Читать далее...
Правительство рассмотрит законопроект о защите капиталовложений, Март 12, 2020: Правительство под председательством Михаила Мишустина соберется на очередное заседание в четверг. Как сообщила пресс-служба кабинета министров на повестку дня вынесено 11 вопросов, основным из которых станет рассмотрение законопроекта о защите и поощрении капиталовложений.  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

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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 .