March 2020 | ISSUE No. 264| USRCC Business Newsletter
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Dear USRCC Members and Partners!
U.S.-Russia Chamber of Commerce is working to ensure that USRCC continue to provide timely information and services to our members. We are carefully reviewing the impact of the pandemic on our upcoming events and we have made some recent changes to the way we provide them.
USRCC will not be holding in-person events for the month of April, 2020. In current situation, we will hold events with remote participation. We are looking forward to connect with you via e-mail, conference-calls and video conferences and also, we will be offering you virtual events shortly.
Countless things have changed over the recent weeks, but our commitment to offering you resources wherever you reside around the world has not.
Take care and stay safe!
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Are you taking advantage of your USRCC Member Benefits?
The U.S.-Russia Chamber of Commerce provides a variety of Membership options to fit your business needs and goals. Renew your membership or join for the first time today!
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Turkish Airlines will Suspend all International Flights
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For more information please visit
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Office Case Study: Mason Creek I
Moodyrambin.com, March 24, 2020:
Myers, Crow and Saviers is a Dallas based office development company with a focus on high density office users with tilt wall value office product in the Dallas and Houston markets. The group purchased a ten-acre site in Mason Creek Business Park to construct a two-story, 130,000 square foot office building with a large user accommodation of a 6/1,000 square foot parking ratio. After multiple competitive rounds of presentations, the MoodyRambin Office Leasing division was selected for the assignment.
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Shell Acts to Reinforce Business Resilience and Financial Strength
Shell.com, March 23, 2020:
As the COVID-19 virus spreads across the world - seriously impacting people’s health, our way of life and global markets - Shell is putting the safety and health of our people and customers first, along with the safe operations of all our businesses. At the same time, we are taking decisive action to reinforce the financial strength and resilience of our business so that we are well-positioned for the eventual economic recovery.
Read more..
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Parker Drilling Company Appoints Sandy Esslemont President, Chief Executive Officer and Member of the Board of Directors
Parkerdrilling.com, March 23, 2020:
Parker Drilling Company ("Parker" or the "Company") today announced that its Board of Directors, following a global search led by Heidrick & Struggles, has appointed Sandy Esslemont, a veteran of the oil & gas industry, to serve as President and Chief Executive Officer. Mr. Esslemont will also join the Company's Board of Directors. He succeeds Gary Rich, who retired from the Company at the end of 2019.
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Putin Calls for 15% Tax on Offshore Funds as Part of Plan to Stabilize Russian Economy
Rt.com, March 25, 2020:
Russian President Vladimir Putin outlined a range of measures on Wednesday to tackle the economic impact of the Covid-19 outbreak. They included making sure that everyone pays their fair share of taxes. According to the Russian president, all income payments (as interest and dividends) leaving the country should be taxed adequately. Putin called on increasing tax on offshore funds to 15 percent.
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Restrictions Affect 92 out of 94 international Flights of Aeroflot
Tass.com, March 26, 2020:
Restrictions and reductions on flights, which have been gradually introduced since February 1, have already affected 92 out of 94 international flights of the Russian flagship air carrier Aeroflot, spokesman Mikhail Demin told TASS, adding that this week the company has had an average of 30 international flights.
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Arctic Oil Faces Crisis
Themoscowtimes.com, March 24, 2020:
The coronavirus and subsequent global economic meltdown is taking its toll on developments in Arctic waters. Russian Arctic oil will inevitably be hard hit by the crisis. The coronavirus and the economic trouble comes as Russia is in the process of preparing the ground for a massive development of new Arctic oil fields. On the 18th March, the country’s Prime Minister Mikhail Mishustin approved a state mechanism for Arctic infrastructure investments. That mechanism opens up for a 20% state subsidy rate for private companies’ infrastructure projects and is aimed at the petroleum industry, according to the Ministry of the Far East and Arctic.
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Gazprom Neft to Cooperate with U.S. Firm Haliburton in Western Siberia
Russiabusinesstoday.com, March 26, 2020:
Russian oil company
Gazprom Neft
said on Thursday that it has signed a memorandum of understanding with U.S. oilfield services company
Halliburton
to develop a program of technological cooperation on well construction projects and the optimization of production at the Achimov oil formation in western Siberia, Reuters reported.
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Moscow Starts Shutting Down as Kremlin Says No Epidemic Here
Bloomberg.com, March 26, 2020:
With the extent of Russia’s coronavirus epidemic distorted by a lack of testing, Moscow Mayor Sergey Sobyanin ordered restaurants and most stores in Europe’s biggest city to shut down for a week. Restaurants, parks and stores except for pharmacies and food shops in the city of 12.7 million will shut down from Saturday for eight days, Sobyanin wrote on his websiteThursday. Confirmed infections in Moscow jumped by a third to 546 over the last day and make up 65% of the country’s total.
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Oil Majors Slash 2020 Spending 20% after Prices Slump
Reuters.com, March 26, 2020:
The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.
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Houston - Tyumen Sister Cities
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In the Fight Against Coronavirus Tyumen Acts Proactively
Khan36news.com, March 26, 2020:
March 28, in the Tyumen region introduced a regime of mandatory isolation for all persons over 65 years of age and people with chronic diseases. This is done to reduce the spread of the coronavirus in the region, said in the program “60 minutes” the Governor of the Tyumen region Alexander moor. He added that following the example of Moscow in the coming hours the decision will be released as a Supplement to close all shopping and entertainment facilities, in addition to grocery stores, pharmacies, and emergency dentistry.
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Kazakhstan to Produce 120mn Tonnes of Coal in 2020
Inform.kz, March 26, 2020:
Coal-extracting companies of Kazakhstan produced 18.3mn tonnes of coal in January-February 2020, Kazinform reports. 10.4mn tonnes of coal were shipped to energy producing companies, and industrial enterprises received 936,800 tonnes. 1.4mn tonnes were shipped for public and utility needs. 4.6mn tonnes will be exported.
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Measures to Keep Belarusian Economy Stable Despite Coronavirus Virtually Ready
Eng.belta.by, March 26, 2020:
The economic storm caused by the new coronavirus has caught up with Belarus. Bearing it in mind, a draft set of measures to ensure the stable operation of the national economy has been worked out, BelTA learned from Prime Minister of Belarus Sergei Rumas at a session of the Council of Ministers' Presidium on 26 March. Sergei Rumas noted: “The economic situation is changing rapidly due to epidemiological processes in the world. The current state of affairs in the world economy has already been dubbed ‘a tsunami of economic destruction'. Although the spread of the new coronavirus is under control in Belarus, the country has not managed to stay away from the economic storm.”
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CAERC Talks Budget of Fund to Support Fight Against Coronavirus in Azerbaijan
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Azernews.az, March 26, 2020:
The budget for the fight against coronavirus in Azerbaijan exceeds 1.1 billion manat ($647 million), Vusal Gasimli, Executive Director of Azerbaijan’s Center for Analysis of Economic Reforms and Communication (CAERC) told Trend. “Initially, when an Operational Headquarters under the Cabinet of Ministers was created on behalf of President Ilham Aliyev, 10 million manat ($5.8 million) was allocated to combat the coronavirus. Currently, over 86 million manat ($50.5 million) has been transferred from the state budget, and by individuals and legal entities to the Fund to Support Fight Against Coronavirus,” Gasimli noted.
Read more...
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US-Russia Related News in Russia
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Новости недели
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Минфин пообещал в 2020 году не удерживать налог на проценты по вкладам
Rbc.ru, March 26, 2020:
Новый налог на доход по банковским вкладам свыше 1 млн руб. не коснется процентных доходов граждан, полученных в 2020 году, а начнет действовать только с 2021 года, объявил журналистам министр финансов Антон Силуанов. Таким образом, налог по процентным доходам по каждому вкладу более 1 млн руб. за 2021 год будет удержан только в 2022 году.
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Инфляция обогнала ожидания граждан относительно цен и доходов
Kommersant.ru, Март 26, 2020:
Исследование фонда «Общественное мнение» инфляционных ожиданий и потребительских настроений граждан, которое проводилось для Банка России в первой декаде марта 2020 года, зафиксировало стабилизацию ожиданий на уровне февраля и заметное улучшение оценок текущего материального благополучия граждан. Продолжили улучшаться потребительские настроения, выросла оценка текущих и будущих доходов, а доля респондентов, полагающих, что за год цены выросли более чем на 30%, резко понизилась — до минимума с начала 2018 года (3,4%).
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Правительство не будет банкротить компании, имеющие проблемы с налогами
News.ru, Март 26, 2020:
Российское правительство не намерено банкротить компании, которые через полгода не смогут в полной мере платить налоги, сообщил первый вице-премьер Андрей Белоусов. При этом он отметил, что властям неизвестно, сколько продлится кризис, передаёт ТАСС.
Ранее NEWS.ru писал, что отсрочки для малого и среднего бизнеса по всем отчислениям на ближайшие полгода (кроме налога на добавленную стоимость (НДС)), а также снижение страховых взносов с 30% до 15% для доходов, превышающих минимальный размер оплаты труда (МРОТ), могут обойтись бюджету РФ в 300–400 млрд рублей.
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«Платить по счетам придется»: как меры Путина скажутся на бизнесе
Gazeta.ru, Март 26, 2020:
Президент РФ Владимир Путин в среду выступил с обращением к нации, в котором сформулировал меры по поддержке россиян и экономики. Граждане получат выходную неделю с сохранением заработной платы. Но для бизнеса решение властей может стать фатальным.
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GET INVOLVED
The 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.
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To learn more about the position
call 713.429.4680
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U.S.-Russia Chamber of Commerce
2900 Wilcrest Drive
Suite 133
Houston, TX 77042
713-429-4680
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The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not 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 .
Copyright 2017. All Rights Reserved.
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