April 2020 | ISSUE No. 266| USRCC Business Newsletter
Dear USRCC Members!
 
We hope that you are doing well and staying healthy during this unprecedented time. This time of the year we are usually preparing to celebrate one of the most wonderful religious holidays for many of our members. 
 
On behalf of the USRCC, we would like to wish a happy Easter to all our members: Jewish members who are beginning to mark Passover, Catholic members who are preparing for Easter this upcoming Sunday, and Orthodox members who are going to celebrate it next Sunday. May this Easter bring prosperity and success to you and your business. We believe that our common efforts will steer our business through these challenging times.

Our best wishes for well-being and good health!
 
USRCC Team
USRCC Business Survey

Amid the uncertainty of the COVID-19 pandemic, the USRCC is launching the Business Survey. We want to hear how your company is doing during this ever-changing time. Your responses will not only help us keep a pulse on the current situation but will also advance our understanding of the issues your businesses are facing.  

The survey should take no more than 3-5 minutes to complete. We want to assure you that your responses to our survey are completely confidential.

Thank you in advance for your participation! Please click below to begin.
◾ USRCC Membership
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◾ Member's News
Lukoil Commissions Komandirshorskaya Group of Fields in Nenets District

Lukoil.com, April 9, 2020:  LUKOIL started test production at three oil fields of the Komandirshorskaya Group – Komandirshorskoye, North Komandirshorskoye and West Komandirshorskoye – in the Nenets Autonomous District. The initial recoverable reserves of the three fields are estimated at 11 million tons. Read more...
Emerson Acquires American Governor

Emerson.com, April 2, 2020:  Emerson today announced it has completed the purchase of American Governor Company, a leader in technologies and services for hydroelectric turbine controls. The addition of American Governor builds on Emerson’s technology capabilities and expertise in the renewables and power industry. Hydropower, the world’s largest source of renewable electricity, is generated by water running through turbines. American Governor’s solutions expertly control hydroelectric turbines, enabling utilities to provide reliable power generation that is highly responsive to the dynamic needs of the electrical grid. Read more...
ExxonMobil Reduces 2020 Capex by 30%, Cash Opex by 15%; Maintains Long-term Outlook

Exxonmobil.com, April 7, 2020: Capital investments for 2020 are now expected to be about $23 billion, down from the previously announced $33 billion. The 15 percent decrease in cash operating expenses is driven by deliberate actions to increase efficiencies and reduce costs, and includes expected lower energy costs. Read more...
Shell Publishes 2019 Sustainability Report and Payments to Governments Data

Shell.com, April 7, 2020: Royal Dutch Shell (Shell) has published its 2019 Sustainability Report and annual Payments to Governments Report. The publications further demonstrate the steps Shell is taking to increase transparency around activities that are important to investors, governments and civil society.  Read more...
COVID-19 Response: CARES Act Paycheck Protection Program for Small Business Loans - Slightly New Guidance on the Affiliation Rules

Lewisbrisbois.com, April 6, 2020: Small business borrowers and their counsel scramble to understand the rules governing eligibility for the low interest small business loans in the CARES Act, questions on how the “affiliation rules” will apply have come up over and over again. These rules require that would-be loan applicants under the Paycheck Protection Program (PPP) must count employees from affiliated entities in determining whether a business has fewer than 500 employees and is therefore eligible for a loan and, even more importantly, loan forgiveness. Read more...
Rosneft Sells its Venezuelan Assets and Becomes an Owner of 9.6% of its Share Capital

Rosneft.com, March 28, 2020: Rosneft announces the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela.
Today Rosneft concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and cease participation in its Venezuelan businesses, including joint ventures of Petromonagas, Petroperija, Boqueron, Petromiranda and Petrovictoria, as well as oil-field services companies, commercial and trading operations. Read more...
◾ This Week in Review
Russian Bankruptcy Cases Jump 70%

Themoscowtimes.com, April 7, 2020:  Bankruptcy filings in Russia shot up in the first three months of the year, as experts warn millions of Russians are set to fall behind on their loans and mortgages as the coronavirus crisis continues. The number of Russians filing for bankruptcy increased by 68% between January and March 2020, compared to the same period last year, new statistics have shown. Read more...
Putin Announces Additional Measures to Support Russian Economy & Business amid Coronavirus Pandemic

Rt.com, April 9, 2020:  Russian President Vladimir Putin has instructed the government and the Central Bank to develop an additional business support program amid the COVID-19 outbreak. The program should be finalised within five days, he said. According to Putin, it should allow companies “to preserve employment and salaries” at the maximum rate possible. Read more...
Oil Markets Await Crucial Saudi-Russia Talks at OPEC Meeting

Russiabusinesstoday.com, April 8, 2020:  Russia and Saudi Arabia meet with other countries Thursday on cutting oil production while they continue a price war that has driven down U.S. gasoline and oil prices, Reuters writes.Oil rebounded on Wednesday after a two-day fall, lifted by hopes that the meeting between OPEC members and allied producers will calm prices that declined in the wake of the coronavirus pandemic. Read more...
Russian Banks to Start Extending Interest-free Loans to SMEs on April 8

Tass.com, April 6, 2020:   Sberbank, VTB, MSP-Bank, Promsvyazbank, Gazprombank, Alfa-Bank and Otkritie will start extending interest-free loans to small and medium enterprises in support of employment and payment of salaries to the personnel, a spokesperson in the secretariat of First Deputy Prime Minister of Russia Andrei Belousov told TASS on Monday. Read more...
Trump Administration Seeks $250 Billion More in Aid for Small U.S. Businesses: Mnuchin

Reuters.com, April 7, 2020:  The Trump administration on Tuesday asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the coronavirus pandemic, as Senate Majority Leader Mitch McConnell pushed for passage as soon as Thursday. In a posting on Twitter, Treasury Secretary Steven Mnuchin said he had consulted with congressional leaders on the need for the second round of funding. Read more...
F.A.Q. on Coronavirus Relief for Small Businesses, Freelancers and More

Nytimes.com, April 7, 2020:   The federal stimulus bills enacted last month, including a bipartisan $2 trillion economic relief plan, offer help for the millions of American small businesses affected by the coronavirus pandemic. The provisions include cash grants, low-interest loans and payments to offset eight weeks of payroll costs for businesses that retain workers or rehire those they have laid off. There are also enhancements to unemployment insurance and paid leave that affect small businesses. Read more...
◾ Houston-Tyumen Sister Cities
Russia Updates its List of Systemically Important Companies

Bignewsnetwork.com, April 8, 2020:   As the coronavirus outbreak has practically halted a major part of economic activity in Russia, the country’s Ministry of Economic Development has updated the list of companies which can be in line for state financial support. Among them the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia. Apart from receiving state aid, these companies might also receive a moratorium (or a “ uspension of payments") on bankruptcy for six months, same as companies working in industries most affected by the pandemic. Read more...
◾ CIS Business News
Kyrgyzstan: Government Promises Help, but Warns of Limited Options

Eurasianet.org, April 7, 2020:  Kyrgyzstan’s government has unveiled measures intended to soften the impact of the coronavirus epidemic on the business community, but it has warned that scope for action will be constrained by limited finances. “We cannot repeat the experience of more developed countries that have offered grants and the cancellation of tax dues. Unfortunately, our budget and our possibilities do not permit us to do that. We should take a sober approach when we talk about supporting business,” Deputy Prime Minister Erkin Asrandiyev said in a press briefing on April 7. Read more...
Russian Oil Flows to Belarusian Oil Refineries According to Routing Instructions

Eng.belta.by, April 6, 2020:  Transneft Company has started pumping oil to Belarusian oil refineries in line with authorized routing instructions, BelTA learned from Aleksandr Tishchenko, Press Secretary of the Belarusian state petrochemical concern Belneftekhim. The spokesman said: “I can confirm that oil shipments to Belarusian oil refineries have begun in accordance with authorized routing instructions.” Read more...
Azerbaijan Increases Electricity Generation in 2020

Azernews.az, April 8, 2020:   According to the results of the I quarter of 2020, electricity production in Azerbaijan increased by 2.6 percent compared to the same period last year, up to 6 billion 967.7 million kWh, local media reported referring to the Ministry of Energy on April 8. Read more...
◾ US-Russia Related News in Russia
◾ Новости недели
Власти Подготовили Стресс-тесты для Экономики

Rbc.ru, April 6, 2020:   Российские власти разработали два стресс-сценария развития кризиса в экономике, предназначенные для проверки финансовой устойчивости системообразующих предприятий. Более мягкий предполагает, что экономическая деятельность в основной массе будет заморожена весь второй квартал 2020 года, то есть до конца июня. Более жесткий — что карантинные меры продлятся два квартала, до конца сентября. Читать далее...
РСПП Предложил Расширить Налоговые Льготы для Бизнеса на Период Борьбы с Вирусом

Vedomosti.ru, April 7, 2020:   Полностью временно отменить налоги или снизить ставки налога на прибыль и НДС, дать право бизнесу вычитать из базы налога на прибыль расходы на больничные и меры по борьбе с вирусом, ускорить возврат НДС. Эти и другие предложения налоговых льгот для бизнеса на время кризиса Российский союз промышленников и предпринимателей (РСПП) в конце марта направил в правительство. Читать далее...
В Минэнерго Заявили, что Россия Готова Сократить Добычу в Рамках ОПЕК+ на 14%

Tass.ru, Апрель 8, 2020:   Россия согласна сократить добычу в рамках сделки стран ОПЕК+ и других производителей нефти на 14% от уровня первого квартала 2020 года, или на 1,6 млн баррелей в сутки. Об этом ТАСС сообщил представитель Минэнерго России. На такой шаг РФ может произойти в случае пропорционального снижения других стран своей доли в общей добыче. Читать далее...
Путин Рассказал о Помощи Компаниям, Которые Сохраняют Занятость

Ria.ru, Апрель 8, 2020:   Президент РФ Владимир Путин заявил, что в первую очередь справедливо оказывать поддержку тем компаниям, которые сохраняют занятость, а потерявшим работу сотрудникам власти будут помогать напрямую. Путин в среду провел по видеосвязи совещание с главами регионов по борьбе с распространением коронавируса в России. Стенограмма его выступления опубликована на сайте Кремля. Он назвал нынешнюю ситуацию серьезным испытанием для каждого предпринимателя и его деловой репутации. Читать далее...
ТМК Объявила Делистинг

Kommersant.ru, Апрель 8, 2020:   Совет директоров ТМК Дмитрия Пумпянского принял решение о делистинге компании с Лондонской фондовой биржи (LSE), говорится в материалах компании на сервере раскрытия информации. Такое решение было принято с учетом текущей ситуации на рынках акционерного капитала и отсутствия существенных преимуществ сохранения листинга глобальных депозитарных расписок (ГДР), сказано в решение совета директоров.  Читать далее...
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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.
To learn more about the position 
or contact us directly at info@usrussiacc.org   
call 713.429.4680
 USRCC Executive Partners 
U.S.-Russia Chamber of Commerce
2900 Wilcrest Drive
Suite 133
Houston, TX 77042

713-429-4680
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 .

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