May 2020 | ISSUE No. 272| 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 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 and the Republic of Komi to Develop Cooperation Lukoil.com, May 19, 2020: LUKOIL and the Republic of Komi have concluded a supplementary agreement on cooperation for 2020. Thanks to LUKOIL's financial aid, the construction of a sports and recreation center with a swimming pool will continue in the Yarega settlement of Ukhta urban district. The Company will also help to finish the construction of a day-care center in the Mutny Materik settlement of Usinsk urban district and of a children's playground in the town of Pechora. Read more...

Emerson to Invest $100 Million to Create New Innovation Center and Expand Manufacturing Operations in Colorado Emerson.com, May 20, 2020:   Emerson (NYSE: EMR), a global engineering and technology company, today announced it will invest more than $100 million in Boulder to significantly expand its manufacturing space and launch a new innovation center focused on research, new product development and industry training for its advanced flow measurement products. Read more...

Rosneft Improves Ice Navigation Routes Rosneft.com, May 19, 2020:   Specialists of RN-SakhalinNIPImorneft LLC (part of the Rosneft Research and Development Complex) have performed monitoring of the ice situation of the Aniva Bay and the northeast shelf of Sakhalin Island. During the expedition, unique data on the spatial and temporal variability of ice cover of the island shelf were obtained. Read more...

Proposed Plastic Piping Standard Will Test for Deterioration Resistance Astm.org, May 19, 2020:   A proposed ASTM International standard would be used to evaluate the resistance of polypropylene piping to deterioration when used in circulating domestic hot water systems. ASTM’s plastic piping systems committee ( F17 ) is developing the proposed standard ( WK66288 ).  Read more...

Measures implemented against the novel coronavirus (COVID-19) Turkishairlines.com, May 22, 2020:   We have implemented additional measures since the beginning of the novel coronavirus (COVID-19) outbreak in order to minimize both its effects and its spread. Our foremost priority is the safety and well-being of our passengers and, to that end, we are monitoring the latest developments regarding the coronavirus and working closely with national and international health and aviation authorities.  Read more...

◾ This Week in Review Russneft Fulfills Quota in OPEC+ Deal in May Tass.com, May 21, 2020:  The Russneft oil company, part of the Safmar group owned businessman Mikhail Gutseriev, cut production by mid-May in accordance with quotas that the Russian Ministry of Energy distributed between Russian companies under the OPEC+ deal to reduce oil production by 9.7 mln bpd in May-June, the company said in a statement on Thursday. Read more...

Russia’s Finance Ministry Places $2.4bn of OFZ Bonds, 2020 Sales Tip over $14bn Russiabusinesstoday.com, May 21, 2020:   Russia’s finance ministry continued to place record-high volumes of OFZ bonds on weekly auctions, selling RUB170bn ($2.4bn) worth of federal bonds in three issues to meet a total demand of over RUB230bn ($3.2bn) this week. Read more...

Russian Oil Output Dips Toward OPEC+ Quota Limit: Sources Reuters.com, May 20, 2020:   Russia’s oil and gas condensate production fell to 9.42 million barrels per day (bpd) during May 1 to 19 as a global deal on reducing output took effect, two sources familiar with the data told Reuters. The deal on curbing crude output reached between the Organization of Petroleum Exporting Countries, Russia and other producers, a group known as OPEC+, took effect on May 1. Read more...

Russia's Federation Council Appraises New Economic Support Measures at 800 bln Rubles Interfax.com, May 20, 2020:   The third package of government support measures for the Russian economy will cost approximately 800 billion rubles, Russian Federation Council Deputy Speaker Nikolai Zhuravlyov said. "The approximate total cost of the third package is 800 billion rubles," Zhuravlyov said at a Federation Council meeting on Wednesday. Read more...

Russian GDP Falls 28% in April Themoscowtimes.com, May 19, 2020:  The Russian economy contracted by more than a quarter in April, calculations based on official government statistics have shown. Using the first batch of official data on the damage from the coronavirus and Russia’s nationwide shutdown of the economy, Russia’s GDP in April was 28% smaller in nominal terms than in the same period last year, economists said. Read more...

Dump the Dollar: Russia Has Now Gotten Rid of Over 96% of its US Debt Holdings Rt.com, May 18, 2020:  Moscow has continued to sell off US Treasury securities, cutting its stockpile by US$8.73 billion in March, according to the latest data from the US Department of the Treasury. Russia’s holdings of US state debt amounted to $3.8 billion in March, compared with $12.5 billion a month earlier. Three years ago, the amount stood at $105 billion. Moscow has liquidated over 96 percent of its holdings in that period. Read more...

◾ Houston-Tyumen Sister Cities

The Volume of Exports of the Tyumen Region with Azerbaijan Exceeded $3 Million Fedress.ru, May 21, 2020:   Tyumen and Azerbaijani businessmen met at an online conference. About 150 businessmen from both sides took part in it, the press service of the regional branch of the Opora Rossii party said. It should be noted that the meeting was attended by the Vice-President of "Support of Russia", a deputy of the Tyumen Regional Duma Eduard Omarov, Deputy Governor of the Tyumen Region Andrei Panteleev. The Azerbaijani side was represented by the Chairman of the European Caspean Club Telman Aliyev, Deputy Chairman of the Board of the Agency for the Development of Small and Medium Business of the Republic of Azerbaijan Rufat Atakishiyev. Read more...

◾ CIS Business News

Nine Renewable Energy Projects to Be Launched in Kazakhstan By December Astanatimes.com, May 19, 2020:   Nineteen renewable energy projects worth $1.1 billion are now officially on the docket for Kazakhstan’s latest effort to go green and diversify its energy supply. Nine projects will be launched by December supported by Kazakh Invest, which is the main company responsible for overseeing the country’s investments and assisting investors who want to get involved in Kazakhstan.   Read more...

Belarus-Uzbekistan Trade up 1.5 Times in Q1 2020 Eng.belta.by, May 20, 2020:   In Q1 the trade between Belarus and Uzbekistan increased 1.5 times to total $53.8 million. The trade figures were reviewed during a videoconference meeting between Belarus Deputy Prime Minister Vladimir Dvornik and Deputy Prime Minister - Minister of Investment and Foreign Trade Sardor Umurzakov of Uzbekistan on 20 May, BelTA learned from the press service of the Belarusian government. Read more...

Azerbaijan's Central Bank, EBRD Sign $200 Million Swap Agreement Azernews.az, May 20, 2020:   The Central Bank of Azerbaijan (CBA) and the European Bank for Reconstruction and Development (EBRD) have signed a $200 million swap agreement to ensure the financing of Azerbaijan’s real sector amid COVID-19 pandemic, the Central Bank’s press service reported. Read more...

◾ US-Russia Related News in Russia ◾ Новости недели

Bloomberg Спрогнозировал Падение ВВП России на 16% во Втором Квартале Rbc.ru, Май 19, 2020:   Во втором квартале 2020 года падение ВВП России составит 16% — это худший квартальный показатель с начала 1990-х годов. Об этом сообщает Bloomberg, прогноз агентства основан на данных российского Минфина. Из-за ограничений, введенных в связи с пандемией коронавируса, экономическая активность в стране снизилась, а доходы упали. Читать далее...

Правительство Утвердило Льготную Кредитную Программу для Бизнеса Rg.ru, Май 18, 2020:   Займы будут выдаваться банками под 2 процента, остальное им компенсирует государство. "На эти цели мы направим кредитным учреждениям более 5,5 миллиарда рублей", - сообщил премьер-министр Михаил Мишустин о подписании соответствующего распоряжения. Читать далее...

Совфед Хочет Освободить от Налогов Большие Компании News.ru, Май 20, 2020:   Совет Федерации предложил правительству расширить меры поддержки бизнеса в связи с коронавирусом. Парламентарии хотят освободить от налогов не только малый и средний бизнес, но и другие предприятия из пострадавших отраслей. Соответствующее письмо было направлено на имя первого заместителя председателя кабмина Андрея Белоусова. Его подписал первый вице-спикер СФ Николай Фёдоров, передаёт РИА Новости. Читать далее...

Эксперты: Покрытие Рекордного за 20 Лет Дефицита Бюджета РФ Потребует Наращивания Госдолга Tass.ru, Май 20, 2020:   Дефицит бюджета РФ в 2020 году, который, по прогнозам правительства, достигнет 8,5% ВВП, станет рекордным с начала 2000-х годов. Покрыть такой дефицит только за счет средств Фонда национального благосостояния (ФНБ) вряд ли возможно - необходимо наращивать госдолг, говорится в аналитическом комментарии агентства "Национальные кредитные рейтинги" (НКР). Читать далее...

В Госдуму Внесли Законопроект о Разрешении Ввоза Дефицитных Санкционных Товаров Kommersant.ru, Май 20, 2020:   На рассмотрение Государственной думы  внесен законопроект о возможности закупки Россией дефицитных товаров без учета контрсанкций в условиях пандемии коронавируса COVID-19. Документ представляет собой поправки в закон «О мерах воздействия (противодействия) на недружественные действия США и иных иностранных государств». 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.