September 2020 | ISSUE No. 290| USRCC Business Newsletter
USRCC Upcoming Events
USRCC’s Logistics, Transportation and Customs Conference provides opportunities to learn more about transportation, distribution, logistics, customs, shipping, risk management, insurance and most current customs regulations. 

This year Conference will cover logistics, transportation, and customs issues during COVID-19 as well as sanctions, industry response and future outlook.

Friday, October 2nd, 2020 | 8 am CST
Cost: complimentary

Registration deadline: noon (CST) Thursday, October 1st, 2020.
Webinar details will be provided upon registration.


John A. Moseley 
Chief Commercial Officer, 
Port Houston

To read the full bio click here.
Rick Shannon 
Member of the Board of Directors,
Atlantic Ro-Ro Carriers, Inc.

To read the full bio click here.
Matthew Borman
Deputy Assistant Secretary of Commerce,
US Department of Commerce, 
Bureau of Industry and Security

To read the full bio click here.
Nikolai Belikov
Operations Director,

To read the full bio click here.
Anton Posner
Chief Executive Officer,
The Mercury Group

To read the full bio click here.
U.S.-Russia Chamber of Commerce 
participates in
SpaceCom Conference & Exposition

OCTOBER 19-29, 2020
SpaceCom Conference & Exposition is the unrivaled global space event designed for those serious about the immediate and long-term opportunities of space commercialization.

Join us for SpaceCom 2020 online providing eight days of unprecedented innovation, superior thought-leadership, and forward-thinking strategies all for FREE.
Top business leaders, investors, government agencies, engineers, scientists, and entrepreneurs unite to share strategic solutions, navigate challenges, boost intelligence, create partnerships, and collaborate as a worldwide force. 
◾ USRCC Activities
Tuesday, September 22, 2020
On September 22, 2020, the USRCC hosted the "Invest in the U.S.A. - the Land of Opportunities" Conference using the online platform. Over 100 registrants from Russia, CIS, U.S.A. and Australia were engaged in this event, which was targeted to assist foreign companies to learn about legal, tax, real estate, insurance, banking, operational, and economic development issues they should consider while starting operations in the U.S.A. The following speakers covered these questions and shared their experience of doing business in the United States: Michael Treyger, Deputy Director,
Business and Community Development, Economic Development and Tourism, Office of the Governor, State of Texas; Clif Edwards, Director of Logistics & Special Projects, Office of Commissioner Jack Cagle, Harris County Commissioner Precinct 4; Piotr Galitzine, Former Chairman and CEO, TMK IPSCO; Andrew A. Pidgirsky, Partner, Lewis Brisbois Bisgaard & Smith LLP; Rolando Garcia, JD, CPA, Shareholder, Doeren Mayhew CPAs; Mark H. Wood, Senior Vice President, Moody Rambin; Tom Ford, Vice President, Moody Rambin; J. R. Love, Jr., JD, Vice President, Brightline Insurance; Eric D. Geisler, President, Economic Incentive Services, LLC (EIS); Oleg Efimochkin, Vice President, JPMorgan Chase Bank, N.A.; John P. Dennis, III, Managing Partner, WoodRock & Co.

Topics covered during the Conference included “The Texas Advantage,” “Harris County - the Land of Opportunities,” “Running a US Subsidiary of a Russian Manufacturer: Discovery and Learning,” “Legal Considerations of the Foreign Investments in the USA,” “Structuring U.S. Investments by Foreign Taxpayers,” “Navigating Real Estate Market in the US,” “Insurance Needs for the Foreign Companies Starting Business in the U.S.,” “Government Incentives for New Operations in the US,” “Banking of Foreign Entities in the USA,” “US Capital Markets and Industrial M&A Opportunities.” 

The Conference ended with lively Q&A session moderated by U.S.-Russia Chamber of Commerce. The attendees asked questions about opportunity zones, future of energy, operational challenges of opening a company in the USA.

The event received a good feedback from the attendees reflecting on the coverage of all aspects needed for the companies entering US market and high caliber of the speakers and presentations. The webinar provided a macro view about doing business in the U.S.A. and in Texas in particular. Attendees received very useful information about the investment opportunities. 
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.
Clif Edwards
Director of Logistics & 
Special Projects, 
Office of Commissioner 
Jack Cagle, 
Harris County Commissioner Precinct 4
Piotr Galitzine
Former Chairman and CEO,

To read the full bio click here.
Andrew A. Pidgirsky
Lewis Brisbois Bisgaard & Smith LLP

To read the full bio click here.
Rolando Garcia, JD, CPA 
Doeren Mayhew CPAs

To read the full bio click here.
Mark H. Wood
Senior Vice President, 
Moody Rambin

To read the full bio click here.
Tom Ford
Vice President, 
Moody Rambin

To read the full bio click here.
J. R. Love, Jr., JD
Vice President, 
Brightline Insurance

To read the full bio click here.
Eric D. Geisler
Economic Incentive Services, LLC (EIS)

To read the full bio click here.
Oleg Efimochkin
Vice President, 
JPMorgan Chase Bank, N.A.

To read the full bio click here.
John P. Dennis, III
Managing Partner,
WoodRock & Co.

To read the full bio click here.
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 Presents Digitalization Project at Tyumen Oil an Gas Forum, September 23, 2020: LUKOIL shared its successful experience in integration of digital technologies into hydrocarbons production with Russian experts and business community at the 11th Tyumen Oil and Gas Forum. The company's production digitalization project offers integrated field models that allow optimization of oil and gas assets management. Read more...
ExxonMobil Expands Agreement with Global Thermostat, Sees Promise in Direct Air Capture Technology, September 21, 2020: ExxonMobil and Global Thermostathave expanded their joint development agreement following 12 months of technical evaluation to determine the feasibility and potential scalability of Global Thermostat’s technology that captures carbon dioxide (CO2) directly from the air. Read more...
Gazprom Approves Programs for Reconstruction and Re-equipment of Gas Production and Transmission Facilities for Years 2021–2025, September 24, 2020: The Gazprom Management Committee approved the 2021–2025 comprehensive programs for the reconstruction and re-equipment of gas production and transmission facilities. The documents aim to provide for high reliability and operational safety of Russia's Unified Gas Supply System, as well as fulfillment of obligations on gas supplies by the Company to consumers in the domestic and external markets. Read more...
USRCC Business Community Outreach
◾ USRCC - IRS Informational Collaboration
IR-2020-216, September 21, 2020 — The Treasury Department and the Internal Revenue Service today released the last set of final regulations implementing the 100% additional first year depreciation deduction that allows businesses to write off the cost of most depreciable business assets in the year they are placed in service by the business.

IR-2020-213, September 16, 2020 — The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching.

IR-2020-212, September 16, 2020 — The Internal Revenue Service continues to look for ways to assist taxpayers affected by the COVID-19 pandemic. 

IR-2020-210, September 15, 2020 — The Internal Revenue Service today issued final regulations for taxpayers who claim the rehabilitation credit. 

IR-2020-209, September 14, 2020 — The final regulations for the business interest expense deduction limitation published in the Federal Register today.
IRS announcement: Fourth quarter interest rates will remain the same for the calendar quarter beginning Oct. 1, 2020.
Resources for taxpayers who file Form 1040, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.​

Get information on coronavirus (COVID-19) tax relief available for individuals and families, small and large businesses, and tax-exempt organizations.

The IRS is now offering critical information in multiple languages. Select from the languages below to view the available information. 
Information about federal taxes - Russian
This Week in Review
Private U.S. Pharmacological Firms and Funds Offer Investment Into Russian Vaccine, RDIF Head Says, September 24, 2020: Russia’s Sputnik V was registered in August, when it became the world’s first registered coronavirus vaccine, Sputnik News reported. The drug was jointly developed by Russia’s Gamaleya Research Center and the Russian Direct Investment Fund. The Russian Direct Investment Fund is considering an offer by several private US pharmacological companies to funnel investments into Russia’s Sputnik V vaccine, RDIF’s CEO Kirill Dmitriev said Thursday. Read more...
Russian Energy Week to Be Held in New Format in 2020 Due to Coronavirus, September 21, 2020: One of Russia’s largest international forums, the Russian Energy Week, scheduled for October 2020 will be held on December 11-12 in a new format, the Energy Ministry said in a statement on Monday. In its traditional format, the forum is expected to be held in 2021. Read more...
US Energy Services Giant Baker Hughes Remains Interested in Russian Market Despite Sanctions, September 22, 2020: US energy services giant Baker Hughes is interested in expanding its presence in the Russian market despite the regime of sanctions between the US and Russia, Elena Akoltseva, the president at Baker Hughes in Russia and the Commonwealth of Independent States (CIS), told Sputnik in an interview. Read more...
Russia's Gazprom Neft Sees Oil Demand Returning to Pre-crisis Levels in Second-half 2021, September 23, 2020: The chief executive of Russian oil producer Gazprom Neft SIBN.MM said he expects global oil consumption to return to pre-crisis level in the second half of 2021, slightly later than the energy ministry's forecast for the second quarter. Speaking at a conference - first large-scale industry event since Russia scrapped public events in March - on Wednesday, CEO Alexander Dyukov said the current oil prices of above $40 per barrel LCOc1 are comfortable both for the company and the federal budget. Read more...
Russia’s Sberbank Unveils Sweeping Transformation Into Tech Company, September 24, 2020: Russia’s largest bank is embarking on what it calls the biggest transformation in its history, as it unveils a suite of new technology products in an aggressive drive to enter the lucrative Big Tech sector. In a flashy presentation Thursday morning — echoing Apple’s famous annual product launches which attract millions of viewers and are a fixture on the global corporate calender — chief executive German Gref unveiled the firm’s new smart screen, speakers, TV box and a “family” of virtual assistants designed to rival Amazon’s Alexa as a smart home management system. Read more...
Houston-Tyumen Sister Cities
Russian Scientists Find Universal Natural Antibiotic, September 23, 2020: Researchers at the University of Tyumen (UTMN), together with their colleagues from elsewhere in the country, have been first to find a universal natural antibiotic able to overcome pathogens’ resistance to drugs. According to the authors of the study, the discovered substance will effectively help fight most infectious diseases caused by bacteria and fungi in humans and animals. Read more...
CIS Business News
Kazakhstan May Export A Staggering 8 Million Tonnes of Grains in 2020, September 23, 2020: Kazakhstan has launched 28 projects worth 204 billion tenge (US$477.6 million) through the first eight months of 2020 to begin rapidly developing and expanding the industrial sector of the country, said Minister of Industry and Infrastructural Development Beibut Atamkulov during a Sept. 15 government meeting. Read more...
Azerbaijan's Seaports Increase Cargo Transportation by 8.7 pct, September 23, 2020: Azerbaijan’s seaports increased cargo transportation by 8.7 percent during the period of January-August 2020, local media has reported. According to the report, the volume of cargo transportation via seaports amounted to 5.8 million tons during the reporting period. Read more...
SOCAR to Send Another Batch of Azerbaijani oil to Belarus, September 24, 2020: The State Oil Company of Azerbaijan (SOCAR) will send another batch of Azeri Light oil to Belarus, according to Interfax-Azerbaijan.The oil will be delivered to Mozyr Oil Refinery via the Yuzhny port in Odessa, the Belneftekhim concern told the media. Read more...
US-Russia Related News in Russia
◾ Новости недели
Государство Продолжит Поддержку Малого и Среднего Бизнеса, Сентябрь 23, 2020: Государство продолжит оказывать поддержку наиболее пострадавшим от коронавируса отраслям экономики, в том числе малому и среднему бизнесу, заявил Владимир Путин на встрече с сенаторами. Критерий поддержки останется прежним – сохранение и открытие новых рабочих мест. Читать далее...
Вице-премьер Назвал Пострадавшие из-за Новых Налогов Нефтяные Компании, Сентябрь 23, 2020: Пандемия коронавируса вынудила правительство пойти на налоговые изменения в нефтяной отрасли, заявил вице-премьер Юрий Борисов (курирует топливно-энергетический комплекс) в ходе панельной дискуссии на Тюменском нефтегазовом форуме в среду, 23 сентября, передает корреспондент РБК. Читать далее...
Экономику Восстановят Потребительский Спрос и Частные Инвестиции, Сентябрь 24, 2020: Работа над Общенациональным планом восстановления экономики, как сообщил вчера премьер-министр Михаил Мишустин на заседании кабмина, завершается — по данным “Ъ”, документ одобрен правительством. В рамках этого плана, рассчитанного до 2024 года, Белый дом ставит перед собой задачу восстановления занятости и доходов населения, а также и роста экономики с одновременными долгосрочными структурными изменениями. Читать далее...
Почему Высоких Цен на Нефть Больше не Будет, Сентябрь 23, 2020: 14 сентября BP опубликовала обновленный Energy Outlook 2020, в котором в очередной раз был значительно понижен прогноз потребления нефти. Из отчета следует, что пик потребления нефти, похоже, уже пройден или будет пройден в ближайшее время. В двух из трех представленных сценариев прогнозируется существенное сокращение спроса на нефть к 2040 году — на треть и почти в два раза. Читать далее...
Минэнерго Попросит Перенести Срок Окончания Инвентаризации Нефтяных Месторождений на 2021 Год, Сентябрь 25, 2020: Минэнерго попросит правительство перенести срок окончания инвентаризации нефтяных месторождений на 2021 год, сообщил журналистам замглавы ведомства Павел Сорокин в кулуарах Тюменского нефтегазового форума. Он отметил, что будет расширен и периметр инвентаризации. 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  
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 Russian 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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