April 2020 | ISSUE No. 269| USRCC Business Newsletter

The U.S.-Russia Chamber of Commerce  Invites You to Attend

The 10th Annual Welcome Reception Honoring Russian and CIS Delegations  to the Breakbulk Americas 2020 Breakbulk Americas has been the established hub for the project cargo and breakbulk industry for more than 30 years. Based in Houston, it hosts more than 5,000 professionals from across the industrial supply chain based primarily in Canada, U.S. and Latin America, including the America’s largest EPCs and oil & gas companies. The conference provides shippers with the opportunity to meet and develop relationships with the leading specialized carriers, forwarders, ports, terminals and packers who have the expertise and resources to handle oversized cargoes with unique handling requirements. U.S.-Russia Chamber of Commerce invites you to join the welcoming Russian and CIS delegations to the  10th Annual Breakbulk Americas Reception . This annual event draws decision makers in U.S.- Russia trade and investment, including senior representatives from major shipping and logistics companies, leaders in the oil and gas industry, government officials, elected officials and more.

Wednesday, November 4, 2020  6:00 PM - 8:00 PM  Four Seasons Hotel, Whitney Room  1300 Lamar Street, Houston, TX 77010 USRCC Members - $30/Non-Members - $60

CLICK HERE TO REGISTER

Please note: Refunds will not be issued after November the 2nd, 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  Email: info@usrussiacc.org

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.

TAKE THE SURVEY

◾ USRCC Membership

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! For more information   click here

◾ Member's News

Lukoil Signed Memorandum on Production of Sulzer Oilfield Service Equipment in Kogalym Lukoil.com, April 27, 2020:   LUKOIL has signed a trilateral memorandum with Sulzer Ltd. and Kogalym Oilfield Equipment Service LLC (KNPO), which involves establishing a service company to maintain, repair and upgrade LUKOIL's rotating equipment including compressors, pumps, etc. in the West Siberian region. Read more...

Gazprom’s Financial Statements under International Financial Reporting Standards (IFRS) for the Year Ended December 31, 2019 Gazprom.com, April 29, 2020:   Today PJSC Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2019. Read more...

Emerson’s New Virtual Valve Repair Service Offers Efficient, Immediate Support Emerson.com, April 29, 2020: Emerson announced its new  Remote Assistance service capability  to help plant operators immediately respond to industrial valve issues by using augmented reality (AR) technology. The AR technology uses a robust, secure channel certified as ISO 27001-compliant. Valve repairs are advised and guided by Emerson experts as part of the company’s expanding Connected Services portfolio in its Plantweb™ digital ecosystem. Read more...

XTO Energy Inc. Extends Tender Offer to Purchase All Outstanding Units in Hugoton Royalty Trust Exxonmobil.com, April 29, 2020:   XTO Energy Inc. (“XTO Energy”) today announced that it has extended the offering period of its previously announced tender offer to purchase all outstanding units of beneficial interest (the “Units”) in Hugoton Royalty Trust (OTCQX: HGTXU, the “Trust”) at a price of $0.20 per Unit, net to the seller in cash, without interest and subject to any withholding of taxes. Read more...

◾ This Week in Review Action Plan for Economic Recovery to Address New Reality, Says Putin Tass.com, April 30, 2020:   The government should take into consideration the new reality related to the coronavirus pandemic when drafting the action plan on economic recovery, Russian President Vladimir Putin said on Thursday. "We must address the new reality when planning the long-term action strategy," the head of state said. It is also required to take into account changes on market and in cooperation ties, use new business models and scientific achievements, Putin added. Read more...

Russia Cuts Key Interest Rate amid Coronavirus Lockdown & Plunging Oil Prices Rt.com, April 24, 2020:   The Bank of Russia slashed its interest rate by 50 basis points on Friday, for the first time since October 2019, to 5.5 percent. The regulator said that further reductions may follow soon. The Bank of Russia added that it has reviewed the baseline forecast scenario and is shifting to an accommodative monetary policy. According to the bank forecast, given the monetary policy stance, annual inflation will reach 3.8-4.8 percent in 2020 and will stabilize around four percent later on. Read more...

Russian Cargo Spaceship Reaches ISS in Fastest Trip Yet Russiabusinesstoday.com, April 25, 2020:   A Russian cargo capsule with 2.5 tons of supplies docked with the International Space Station ( ISS ) on Saturday after the fastest such trip yet from earth, the state space agency  Roscosmos said, according to  AP . Read more...

Russia Starts Drawing Up Lockdown Exit Plans Themoscowtimes.com, April 27, 2020:   Russia will begin drawing up lockdown exit plans to switch the economy back on, Prime Minister Mikhail Mishustin said Monday. In a meeting with ministers, Mishustin ordered various government departments to start working out how businesses could get back to work once the coronavirus pandemic becomes less severe, news site RBC reported. Read more...

Russia to Cut Crude Production by 10% within OPEC+ in 2020 Tass.com, April 29, 2020:   Russia’s crude oil production will go down by around 10% in 2020 due to OPEC+ restrictions compared with 2019 when it reached the record 560.2 mln tonnes, Energy Minister Alexander Novak said at a meeting on energy development issues headed by President Vladimir Putin on Wednesday. Read more...

◾ Houston-Tyumen Sister Cities

Tyumen Authorities Earned Several Billion in Bank Deposits Uralpolit.ru, April 30, 2020:   The government of the Tyumen region reported on earnings on the placement of funds on bank deposits. For 2019, the budget of the Tyumen region was additionally replenished with income received from bank deposits in the amount of almost seven billion rubles. Information about this is published on the website of the Tyumen Regional Duma. Read more...

◾ CIS Business News

Kazakhstan Negotiating 22% Oil Output Cut Oilprice.com, April 29, 2020:   Kazakhstan is in talks with the companies operating its two large oil projects to reduce total output by 22 percent in compliance with the latest OPEC+ production cut agreement. The Central Asian country’s cut quota under the OPEC+ deal was 390,000 bpd, from a total daily production of some 1.7 million bpd, to 1.3 million bpd, most it coming from the Tengiz field onshore and the Kashagan field in the Caspian Sea, which last year accounted for a combined daily output of 900,000 barrels of crude. Read more...

Belarus to Get 1.13m Tonnes of Oil from Russia in May, Work with Alternative Sources to continue Eng.belta.by, April 29, 2020:   Belarus will get 1.13 million tonnes of oil from Russia in May. Work with alternative sources will continue, BelTA learned from Press Secretary of the Belarusian state petrochemical concern Belneftekhim Aleksandr Tishchenko. Read more...

Azerbaijan to Spend $67 Million on Tax Benefit Package for Entrepreneur over COVID-19 Azernews.az, April 28, 2020:   The total cost of a package of tax benefits intended for entrepreneurship entities operating in areas affected by the COVID-19 pandemic is about 114 million manat ($67 million), said First Deputy Minister of Taxes Sahir Mammadkhanov at a meeting of Azerbaijani Parliament’s committee on economic policy, industry and entrepreneurship,  Trend  reports. Read more...

Armenia’s Central Bank Reduces Refinancing Rate by 0.25%, Sets it at 5.0% Azernews.az, April 28, 2020:   During today’s session the Board of the Central Bank of Armenia made a decision to reduce the refinancing rate by 0.25%, setting it at 5.0%, the CBA told Armenpress. In March 2020 0.5% inflation was registered in the Republic, compared to the 0.1% inflation in March 2019. In such circumstances the 12-month deflation was cut and comprised 0.1%. Read more...

◾ US-Russia Related News in Russia ◾ Новости недели Налоговая Служба Анонсировала Новый Антикризисный Сервис Kommersant.ru, April 24, 2020:   С 1 мая Федеральная налоговая служба (ФНС) запустит специальный сервис по выплате субсидий малому бизнесу, пострадавшему от COVID-19. Выплаты в размере одного МРОТ на каждого сотрудника компании не будут облагаться подоходным налогом, сообщил глава службы Даниил Егоров. По мнению экспертов, появление таких сервисов поможет изменить мнение представителей бизнеса, пока скептически оценивающих меры государства по поддержке предпринимателей. Читать далее...

ЛУКОЙЛ Приостановит 20% Бурения в Западной Сибири Rbc.ru, April 27, 2020:   Крупнейшая российская частная нефтяная компания ЛУКОЙЛ уведомила подрядчиков о планах сократить объемы эксплуатационного и разведочного бурения на своих месторождениях в Западной Сибири, Коми и Пермском крае на 20% от годового плана. Об этом РБК сообщил источник в одной из сервисных компаний, работающих с ЛУКОЙЛом, и подтвердил собеседник в другом подрядчике этой нефтяной компании. Читать далее...

«Антиотмывочный» Закон: с Бизнеса Снимут Презумпцию Виновности Gazeta.ru, Апрель 27, 2020:   В России могут внести изменения в законодательство, которые не позволят банкам блокировать счета предпринимателей из-за подозрения в легализации преступных доходов без объяснения причин. Это должно облегчить жизнь добросовестному бизнесу. Предложение об изменении норм антиотмывочного законодательства обсуждалось 23 апреля на заседании российского правительства.   Читать далее...

Путин Объявил о Продлении Нерабочих Дней до Конца Майских Праздников Vedomosti.ru, Апрель 28, 2020:   Президент России Владимир Путин объявил 6, 7 и 8 мая официально нерабочими днями с сохранением заработной платы. Таким образом, режим нерабочих дней, который должен был завершиться 30 апреля, продлен до 11 мая включительно. Об этом президент сообщил в ходе своего выступления в начале совещания с руководителями регионов и членами правительства по ситуации с коронавирусом.   Читать далее...

РСПП запустил сайт для поддержки бизнеса в условиях пандемии Tass.ru, Апрель 27, 2020:   Координационный совет Российского союза промышленников и предпринимателей (РСПП) по противодействию коронавирусной инфекции запустил сайт ситуационного центра для поддержки бизнеса и граждан в условиях пандемии. На сайте  rspp-centre.com  в открытом доступе находятся материалы по международной экспертизе и протоколам действий в условиях эпидемий, что позволит использовать лучшую практику противоэпидемических мероприятий. Читать далее...

«Транснефть» Просит Дать Рассрочку в Выплате Дивидендов News.ru, Апрель 29, 2020:   Компания «Транснефть» просит правительство по причине внешних факторов разрешить выплачивать дивиденды по итогам 2019 года частями. Направить на эти цели фирма намерена 81 млрд рублей, или 11,2 тысячи рублей на акцию. Читать далее...

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. To learn more about the position  click here or contact us directly at info@usrussiacc.org    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 info@usrussiacc.org http://www.usrussiacc.org

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.