June 2020 | ISSUE No. 276| USRCC Business Newsletter
The U.S.-Russia Chamber of Commerce and
USRCC Young Professionals Committee invite you to attend

The 4th Annual Senior Executive Knowledge Sharing Series
Live Webinar with
Chief Legal Officer & Board Member
This live webinar will allow you :

•      to adopt the best practices from the high-level Executive;
•      to discuss the strategies to build a successful career;
•      to talk about integration of technologies, future of the workplace, new ways of doing business.

Join this engaging opportunity to discussion and learn how
to improve your skills, knowledge, and attitude
to reach your personal and professional goals and advance your career!
Will Marsh  was the Chief Legal Officer at Baker Hughes since the merger of Baker Hughes with the GE Oil & Gas business in 2017 through April 2020.  Prior to his that, Marsh served as Vice President and General Counsel of Baker Hughes Incorporated starting in February 2013.

Marsh joined Baker Hughes in 1998 and has served in various executive, legal, compliance and corporate roles, including Vice President of Legal, Western Hemisphere from May 2009 to February 2013 and Director of Enterprise Risk Strategies from March 2006 to May 2009.

Marsh is currently a member of the BJ Services Board of Directors and was formerly a member of the Board of Directors of Peoples Utah Bancorp.

To read the full bio please click  here.
Audience: Young Professionals

Duration:  1 hour (40 minutes presentation and 20 minutes Q&A session).
Live Webinar Moderator:  Ilya Aranovich, USRCC YP Committee Chairman,
Director Business Strategy - Refining and Gasification, Lummus Technology,
McDermott International Inc.

Thursday, June 25th, 2020  |    12:00 PM - 1:00 PM
USRCC Members - free/Non-Members - $10
Please note: Refunds will not be issued after June the 23rd, 2020
Please register online at the link above by noon (CST) Tuesday, June 23rd, 2020.

After registering, details on how to access the webinar will be provided via email.

Please direct your questions for the Q&A session in advance to e.mirodzhi@usrussiacc.org
The U.S.-Russia Chamber of Commerce in the partnership with 
the U.S. Commercial Service invites you to attend

U.S. Ambassador to the Russian Federation Honorable John J. Sullivan 
Key Note Presentation and 
Texas - Urals Regional Virtual Trade Mission and Business Dialogue 

Tuesday, June 30th, 2020 
Houston - 8am CST | Moscow - 4pm MST | Yekaterinburg - 6pm YST
USRCC Members - free / Non-members - $30  
Please register online at the link above by noon (CST) Friday, June 26, 2020. 
After registering, details on how to access the virtual trade mission will be provided via email.
Please note: Refunds will not be issued after June 26, 2020. 
The USRCC and the U.S. Commercial Service joint Virtual Trade Mission and Business Dialogue (the “VTM”) is a reliable and convenient alternative in-person trade missions. By organizing VTM, USRCC is building efficient interaction between the U.S. and Russia business communities. Conducted in a webinar format, VTM provides USRCC members and partners with a unique opportunity for business introduction, presentations, and connections in a particular region that they may be interested in doing business. 
Honorable John J. Sullivan was nominated as the U.S. Ambassador to the Russian Federation by President Donald J. Trump on October 11, 2019; confirmed by the Senate on December 12, 2019; and sworn in by Secretary of State Mike Pompeo on December 23, 2019. Ambassador Sullivan previously served as Deputy Secretary of State from May 24, 2017, until December 21, 2019. He served as acting Secretary of State from April 1 to April 26, 2018. 

Prior to joining the Department of State, Ambassador Sullivan was a partner in Mayer Brown LLP, and co-chair of the law firm’s national security practice. From 2010 to 2016, he was the Chairman of the U.S.-Iraq Business Dialogue, a governmental advisory committee on United States economic relations with Iraq. 

To read the full bio click  here.
James Golsen
Commercial Counselor - Senior
Commercial Officer Embassy of the United States of America
in Moscow

To read the full bio click  here.
Amy Storrow
Consul General in Yekaterinburg,
United States

To read the full bio click  here.
Michael Treyger
Deputy Director, Business and
Community Development,
Economic Development and
Tourism, Office of the Governor,
State of Texas

To read the full bio click  here.
Andrey Besedin
President, Ural Chamber of Commerce

To read the full bio click  here .
Aleksey Orlov
First Vice Governor
of Sverdlovsk Oblast

To read the full bio click  here .
Vasiliy Kozlov
Sverdlovsk Oblast Minister for International and External Economic Relations

To read the full bio click  here .
Viktor Koksharov
Rector of Yeltsin Urals Federal University

To read the full bio click  here .
Anton Druzhinin
Director of Operations, CIS
(IG Metran / Emerson LLC)

To read the full bio click  here .
Paul A. Pavlou
PhD Dean,
Cullen Distinguished Chair,
C.T. Bauer College of Business, 
University of Houston
To read the full bio click  here.
  • Government Leaders from Urals Region: Mr. Aleksey Orlov, First Vice Governor of Sverdlovsk Oblast; Mr. Aleksandr Kozlov, Minister of Economic Development; 
  • Sverdlovsk Oblast Union of Industrialists and Entrepreneurs;
  • Chambers: the Ural Chamber of Commerce and Industry, the South Urals Chamber of Commerce and Industry, the Perm Chamber of Commerce and Industry, the Tyumen Chamber of Commerce and Industry, the Chamber of Commerce and Industry of the Khanty-Mansiysk Autonomous Okrug, the Chamber of Commerce and Industry of the Yamalo-NenetsAutonomous Okrug, the Central Siberian Chamber of Commerce and Industry in Krasnoyarsk, and the Kurgan Chamber of Commerce and Industry.
Ural Federal District is one of the eight federal districts of Russia. Its population was more than 12 million according to the 2010 Census. In 2006, the Ural district provided 90% of Russian natural gas production, 68% of oil, and 42% of metal products. Industrial production per capita in the district is about 2.5 times higher than the average value throughout Russia. 

Its major branches are fuel mining and production (53%), metallurgy (24%) and metal processing, and engineering (8.8%). The latter two are specially developed in Chelyabinsk and Sverdlovsk Oblast which, between them, constitute 83% of Russian metallurgy and 73% of metal processing and engineering. 
According to the rating of the Ministry of Transport of the Russian Federation the "Koltsovo" international airport is the largest one among the regional airports of Russia. The region ranks third in terms of the number of diplomatic missions. Ekaterinburg (the administrative center of the district) hosts significant international events and top-level meetings on an ongoing basis. Currently, Ekaterinburg is competing to host World Expo 2025. 
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
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
Emerson Integrates Augmented Reality into Plantweb Optics Software, Enhancing Remote Collaboration, Workforce Effectiveness

Emerson.com, June 18, 2020: Emerson (NYSE:EMR) today introduced augmented reality (AR) technology to its  Plantweb™ Optics asset performance platform , delivering enhanced access to real-time diagnostics and analytics, as well as live remote assistance, to industrial plant workers responsible for maintaining and optimizing plant equipment. With AR technology integrated into Plantweb Optics, companies can improve productivity, collaboration and operational performance, without being limited by shortages of skilled workers or travel restrictions. Read more...
Proposed Petroleum Standard Will Help In-Service Oil Monitoring

Astm.org, June 16, 2020:   A proposed ASTM International standard will aim to help determine the remaining level of phenolic compounds in lubricating oils. ASTM’s committee on petroleum products, liquid fuels, and lubricants ( D02 ) is developing the proposed standard, which describes a trend analysis process using Fourier transform infrared (FT-IR) spectrometry. Read more...
Christopher Ballod Quoted in Corporate Counsel Article on Cybersecurity and the Remote Work Trend

Lewisbrisbois.com, June 18, 2020:   Data Privacy & Cybersecurity Partner Christopher E. Ballod was recently quoted by  Corporate Counsel  (part of Law.com) in an article titled “ With Remote Working, Legal Departments May Be Addressing Cybersecurity on Multiple Fronts .” The article discusses how corporate legal departments and their organizations will be reexamining cybersecurity measures as large volumes of employees are expected to continue to work from home, even after the COVID-19-related shutdowns have been lifted. Read more...
◾ This Week in Review
Russia to Slash Key Interest Rate to Post-Soviet-era Low

Rt.com, June 16, 2020:   The Bank of Russia is set to further cut its interest rate to the lowest level in the country’s recent history at a meeting later this week, with economists expecting it be reduced by at least 50 basis points. On Friday, the central bank may announce the third consecutive key-rate reduction this year. The regulator lowered it from 6 percent to the current 5.5 percent – the biggest one-time slash since October 2019 – amid coronavirus lockdown and plunging oil prices in April.  Read more...
OPEC+ Deal Weighs on Russia’s Economic Recovery

Themoscowtimes.com, June 17, 2020:   Russia's industrial output fell by 9.6 percent in May compared to the same month the previous year, the state statistics agency said Tuesday, saying coronavirus restrictions played the biggest role in the drop. Output continued to shrink after April's results of a 6.6 percent fall, with industries affected by a lockdown to control the spread of the coronavirus imposed in late March. Read more...
Russia's Corporate Loan Growth Stalls in May - Cenbank

Reuters.com, June 15, 2020:   Corporate loans growth in Russia stalled in May in month-on-month terms, while retail loan growth recovered slightly after a slump in April, the first full month of lockdowns in Russia, the central bank data showed on Monday. Corporate loans were virtually unchanged in May after growing by 1.4% month on month in April and posting a record increase of 2.6% in March. Read more...
Russia Accelerates Oil Output Cuts under OPEC+ in Mid-June

Tass.com, June 16, 2020:   The average daily oil and condensate production in Russia from June 1 to June 15 was at the level of 1.275 mln tonnes, according to the Central Dispatching Department of Fuel Energy Complex (CDU TEK). Under the terms of the OPEC+ deal, Russia agreed in May - July to cut production by 2.5 mln barrels per day — to 8.492 mln barrels. The deal entered into force on May 1. Read more...
No Changes to Personal Tax Rates for Wealthy Russians Yet: Kremlin

Russiabusinesstoday.com, June 18, 2020:   No final decisions have yet been made to change the personal income tax rate, its increase for wealthy Russians is one of the topics under discussion, Kremlin spokesman Dmitry Peskov told reporters on Thursday, according to  TASS . Read more...
Gazprom, Wintershall Dea Shuttering Offshore Winchelsea Project in UK due to Unprofitability

Interfax.com, June 17, 2020:   Gazprom and Germany's Wintershall Dea are shutting down the Winchelsea project on the UK's continental shelf, the Russian gas giant said. Wintershall Noordzee B.V., a 50-50 joint venture between Wintershall Dea and Gazprom EP International that is the project operator, began exploration at the offshore licensed areas P1902 (block 44/23c) and P1903 (blocks 44/23d and 44/24c) in the UK in 2012. Read more...
Houston-Tyumen Sister Cities
Russian Scientists Create New Substances to Receive Solar Energy Under Water

Sputniknews.com, June 18, 2020:   Scientists at the University of Tyumen have become the world’s first to create on an industrial scale a number of unique chemical compounds necessary to develop photonic supercomputers and solar batteries on underwater vehicles. The results of their study have been published in the Journal of Alloys and Compounds. Read more...
CIS Business News
Kazakhstan’s Digitization Program Brings Additional $2 billion Into the Economy 

Astanatimes.com, June 18, 2020: Kazakhstan’s digitization efforts have generated 800 billion tenge (US$1.97 billion) for the country’s economy in two years, said Kazakh Minister of Digital Development, Innovations and Aerospace Development Askar Zhumagaliyev. It also created 120,000 jobs and attracted 32.8 billion tenge (US$80.7 million) of investment into the country. Read more...
Belarus May Import 5.75m Tonnes of Oil From Russia by Pipeline in Q3 2020

Eng.belta.by, June 18, 2020:  The schedule for importing oil from Russia to Belarus by pipeline in Q3 2020 has been agreed at 5.75 million tonnes, BelTA learned from Aleksandr Tishchenko, Press Secretary of the Belarusian state petrochemical concern Belneftekhim, on 18 June . Read more...
Energy Ministry, McKinsey & Company Sign Agreement on Gas Supply System

Azernews.az, June 17, 2020:   Azerbaijan’s Ministry of Energy and McKinsey & Company signed an agreement to conduct a detailed diagnostics of the country’s gas supply system, ministry’s press service reported on June 17. Under the agreement, the company will provide consulting services to the ministry, when preparing proposals for reforms in this area in order to improve the efficiency of the country’s gas supply system, taking into account best international practices, to ensure reliable satisfaction of consumers’ needs. Read more...
◾ US-Russia Related News in Russia
Новости недели
Минэкономразвития Смягчило Прогноз Падения Экономики России в 2020 году 

Rbc.ru, Июнь 17, 2020:   Минэкономразвития пересмотрело оценку падения ВВП России в 2020 году с 5 до 4,8%. Восстановительный рост экономики, согласно обновленным параметрам макропрогноза, будет быстрее: темпы роста ВВП в 2021 году ожидаются на уровне 3,2 вместо 2,8% по предыдущей оценке. В 2022 году экономика России, по новой оценке ведомства, вырастет на 2,9%, в 2023-м — на 3,1%. Читать далее...
СМИ Узнали о Плане Спасения «Аэрофлота» Через Выкуп Допэмиссии Акций

Vedomosti.ru, Июнь 17, 2020:   Правительство обсуждает вопрос о докапитализации пострадавшего в кризис «Аэрофлота» через допэмиссию акций, сообщило агентство Reuters со ссылкой на источники. Чиновники и ВТБ обсуждали этот вопрос, знает источник «Интерфакса». «Аэрофлот», на 51,2% принадлежащий государству, может выпустить допэмиссию на сумму около 80 млрд руб. Читать далее...
"ВТБ Капитал Инвестиции" Назвал Дивидендную Доходность Российских Бумаг Одной из Самых Высоких в Мире

Interfax.ru, Июнь 17, 2020:   Дивидендная доходность российских акций остается одной из самых высоких в мире, в среднем по индексу Мосбиржи в этом году она может достичь 8%, сообщили аналитики "ВТБ Капитал Инвестиции" в ходе онлайн-конференции. Это в совокупности с дисконтом в оценке российских акций в сравнении с аналогичными иностранными бумагами делает российские активы высоко привлекательными для инвесторов. Читать далее...
Российская Компания Начала Серийное Производство 3D-Принтеров из Германии

Tass.ru, Июнь 18, 2020:   Компания из инвестиционной сети Фонда инфраструктурных и образовательных программ (ФИОП) группы "Роснано" начала серийное производство композитных 3D-принтеров, которые ранее выпускали в Германии. Об этом сообщает в четверг пресс-служба "Роснано". Читать далее...
Иностранный Бизнес не Отказывается от Инвестиций в РФ, Ждет Улучшения Ситуации

Finmarket.ru, Июнь 18, 2020:   Работающие в России иностранные компании не отказываются от инвестиций в российские проекты, но ждут улучшения ситуации, сообщил в четверг председатель комитета по малому и среднему бизнесу Ассоциации Европейского Бизнеса (АЕБ) Андреас Битци в рамках онлайн пресс-конференции. Читать далее...
"Достаточно Быстро". Новак Оценил Сроки Стабилизации Нефтяного Рынка

Radiosputnik.ria.ru, Июнь 18, 2020:   Баланс спроса и предложения на мировом рынке нефти может наступить в ближайшие два месяца, заявил министр энергетики РФ Александр Новак в интервью телеканалу "Россия 24" по итогам прошедшего заседания министерского мониторингового комитета ОПЕК+. Глава российского Минэнерго сообщил, что в соответствии с договоренностями от апреля, страны ОПЕК+ будут ежемесячно встречаться, "чтобы мониторить ситуацию по исполнению соглашения, потому что это очень важно". Читать далее...

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

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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