October 2020 | ISSUE No. 291| USRCC Business Newsletter
◾ USRCC Upcoming Events
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 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 Gazprom Proceed with Preparations for the Development of Two Fields in the Nenets Region

Lukoil.com, October 1, 2020: President of LUKOIL Vagit Alekperov and Chairman of the Management Committee of Gazprom Alexey Miller had a business meeting today in Saint Petersburg. They discussed current cooperation issues. Among other matters, Vagit Alekperov and Alexey Miller touched upon the subject of steps to be taken in order to set the stage for the development of Vaneyvisskoye and Layavozhskoye fields. Read more...
ExxonMobil to Proceed with Payara Development Offshore Guyana

Exxonmobil.com, September 30, 2020: ExxonMobil has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel. Read more...
Rosneft Oil Company Develops Cooperation with Japanese Suppliers

Rosneft.com, September 28, 2020: Rosneft Oil Company has held a seminar on the organisation of the Company’s procurement activities in the format of a video conference.
The event was attended online by representatives of more than 20 leading Japanese suppliers and contractors. Read more...
USRCC Business Community Outreach
◾ USRCC - IRS Informational Collaboration
IRS provides final regulations on income tax withholding on certain periodic retirement and annuity payments.
IRS is hiring! Visit www.jobs.irs.gov to see what career opportunities are available at IRS.
IRS announcement: Fourth quarter interest rates will remain the same for the calendar quarter beginning Oct. 1, 2020. https://go.usa.gov/xGbxU
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
Rospatent Grants Vector Research Center Patents for Coronavirus Vaccine

Russiabusinesstoday.com, October 1, 2020: The Russian Federal Service for Intellectual Property, commonly known as Rospatent, told Sputnik on Wednesday it had granted the Vector research center patents for its COVID-19 vaccine. Earlier in the day, it was announced that Vector had finished the clinical trials of its vaccine against coronavirus. Read more...
Energy Sector Recovery Will Take Long Time, Says Russian Energy Minister

Tass.com, September 27, 2020: The energy market recovery is not going to be quick and it will take a long time for it to regain the pre-crisis dynamics, Russian Energy Minister Alexander Novak said on Sunday at a meeting of the Group of Twenty energy ministers. Read more...
Russian Energy Group InterRAO to Invest $580 Million in GE Gas Turbine JV

Reuters.com, September 30, 2020: Russian state energy holding InterRAO IRAO.MM plans to invest up to 45 billion roubles ($580 million) in its gas turbines joint venture with General Electric GE.N, Alexey Maslov, its head of strategy, said on Wednesday. Russia’s power market has become attractive for Western producers of gas turbines as the country has started to modernise a quarter of its thermal power capacity. Read more...
Russia to Launch Two New Modules to Space Station in April, September 2021 - Source

Sputniknews.com, September 30, 2020: Russia, for the first time in 11 years, plans to launch two new modules to the International Space Station (ISS) in April and September 2021, a source in the rocket and space industry told Sputnik. In late July, Russian state space corporation Roscosmos Director General Dmitry Rogozin announced that the launch of the Nauka (Science) module was set for April 2021. Read more...
U.S., European Oil Majors Could Create Supply Crisis With Renewables Push – Russia’s Rosneft

Themoscowtimes.com, September 29, 2020: U.S. and European oil majors’ commitment to moving away from fossil fuels toward renewable energy threatens oil supplies and prices, Russia’s state-run oil giant Rosneft has said, according to the Financial Times. BP, Chevron, Eni, Equinor, ExxonMobil, Repsol, Shell and Total have to varying degrees laid out strategies they say are compatible with the Paris climate treaty. They have announced measures over the past year that include reducing the carbon intensity of their products, transitioning into renewable energy, storing "captured" CO2 underground and offsetting emissions through reforestation. Read more...
Russia Plans to Double State Borrowing to Plug Budget Holes

Reuters.com, October 1, 2020: Russia plans to sell 2 trillion roubles ($26 billion) of OFZ treasury bonds in the fourth quarter, double the amount of state borrowing in the previous quarter, to fund its budget deficit, the finance ministry said late on Wednesday. Russia is boosting state borrowing to compensate for a budget shortfall amid lower oil prices and the coronavirus pandemic. It is also planning to step up spending in the next three years to overcome the economic fallout from the crisis. Read more...
Houston-Tyumen Sister Cities
SOCAR Energoresource Inks Cooperation Deal with Russia's Tyumen Region

Menafn.com, September 25, 2020: Azerbaijan's State Oil Company (SOCAR) has signed a socio-economic cooperation agreement with Russia's Tyumen region. The agreement was signed between SOCAR Energoresource CEO Farid Jafarov and the Governor of the Tyumen region of Russia Alexander Moor at part of the Tyumen Oil and Gas Forum.on September 23, local media has reported. Read more...
CIS Business News
Kazakhstan, Tatarstan Lay Foundation Stone For Two Plants In Automotive Industry, Begin Tire Production

Astanatimes.com, September 29, 2020: Kazakh Prime Minister Askar Mamin and President of Tatarstan Rustam Minnikhanov launched the construction of two plants in Kostanai and a tires production operation in the Karaganda Region during a Sept. 27 meeting in Kostanai. The three projects are worth 261 billion tenge (US$609.37 million) in total. Read more...
Azerbaijan's Exports Hit $9.9bn in 2020

Azernews.az, September 23, 2020: The volume of Azerbaijan’s export amounted to $9.9 billion during the first eight months of 2020, the Center for Economic Reforms Analysis and Communication of Azerbaijan reported in its "Export Review" of September. Of them, export in non-oil sector amounted to $1.1 billion, with a decrease by 9.7 percent or $124 million compared to the same period of 2019. Read more...
Belarus, Russia Sign Seven Agreements on Cooperation

Eng.belta.by, September 29, 2020: An official ceremony to sign agreements on cooperation between the Belarusian government and the executive bodies of the Russian subjects took place at the plenary session of the 7th Forum of Regions of Belarus and Russia on 29 September, BelTA has learned. Read more...
US-Russia Related News in Russia
◾ Новости недели
Для Госкомпаний Обновили Верхнюю Планку по Размеру Валютных Активов

Interfax.ru, Сентябрь 29, 2020: Госкомпании РФ получили от правительства новую директиву, ограничивающую размер чистых валютных активов "историческим" уровнем. Впервые подобная директива была выпущена почти шесть лет назад на фоне резкого ослабления курса рубля. Читать далее...
Правительство Продлило Мораторий на Банкротства до 7 Января 2021 года

Rbc.ru, Октябрь 1, 2020: Правительство приняло решение продлить на три месяца мораторий на возбуждение дел о банкротстве по заявлению кредиторов, объявил премьер-министр Михаил Мишустин на заседании правительства. Попавшие под него компании по-прежнему смогут заявить о собственной несостоятельности. Читать далее...
Международные Резервы РФ за Неделю Снизились на $10,2 млрд

Finmarket.ru, Октябрь 1, 2020: Международные резервы России на 25 сентября составили $580,7 млрд, сообщил Банк России.По состоянию на 18 сентября международные резервы равнялись $590,9 млрд. Таким образом, за неделю они уменьшились на $10,2 млрд.На предыдущей неделе международные резервы снизились на $0,9 млрд. Читать далее...
Около Трети Прямых Иностранных Инвестиций Приходится на Дальний Восток

Tass.ru, Октябрь 1, 2020: Социально-экономические показатели каждого дальневосточного субъекта к 2024 году должны стать не ниже среднероссийского, сейчас Дальневосточный федеральный округ (ДФО) является лидером по привлечению инвестиций, около трети прямых иностранных инвестиций приходится на макрорегион. Об этом сообщил в четверг вице-премьер - полномочный представитель президента РФ в ДФО Юрий Трутнев. Читать далее...
Экономика Замерла в Ожидании Второй Волны Пандемии

Vedomosti.ru, Октябрь 1, 2020: Индекс предпринимательской уверенности, рассчитываемый Росстатом и отражающий обобщенное состояние деловой активности крупных и средних предприятий, в сентябре практически не изменился по сравнению с августом. В обработке он составил минус 5,6% против минус 5,7% в августе, в добыче полезных ископаемых – минус 3,9% против минус 3,1%. Для сравнения: в августе по отношению к июлю индекс в добыче улучшился на 2,2%, в обработке – на 0,7%. 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 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.

Copyright 2017. All Rights Reserved.