October 2020 | ISSUE No. 294| USRCC Business Newsletter
◾ USRCC New Member Spotlight
The Mercury Group leverages unique and efficient negotiating skills and a team of industry professionals who can resolve nearly any dry cargo issue. Our staff offers extensive supply chain management and maritime experience, decades of experience in the industry, and 24-hour availability. 

Mercury Resources has carefully developed thriving professional relationships with brokers, shippers, governments, port authorities, buyers and suppliers globally, and will use that network of international points of contact to customize our clients' needs. 

The Mercury Group provides knowledge and expertise in the movement of nearly every dry cargo commodity in the world, and can efficiently identify and secure the appropriate vessels, barges, trains and trucks for each client. Mercury engages in point-to-point involvement in every project.

Please visit  www.mercuryresources.com for more information. 
◾ 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's Bilateral Trade Report
The U.S.-Russia
Bilateral Trade Report
is available here.
The Report includes statistics by years and states according to the United States Census Bureau for the years 2010-2019, as well as of exports and imports to Russia according to the United States Census Bureau for the January 2020-March 2020.
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 Rostec Sign Cooperation Agreement

Lukoil.com, October 19, 2020: President of LUKOIL Vagit Alekperov and General Director of Rostec State Corporation Sergey Chemezov signed an agreement on cooperation in Moscow, today. The signing ceremony, held in the Oil pavilion at VDNKH, one of Moscow's largest parks and a showcase of historical achievements of Russian economy and technical thought, was attended by Deputy Prime Minister of the Russian Federation Yury Borisov. Read more...
Rosneft Designs Synthetic Crude Oil Unit

Rosneft.com, October 21, 2020: Scientists of the Rosneft United Research and Development Centre have developed a laboratory unit designed to convert methane to synthetic liquid hydrocarbons. The unit has successfully completed a synthetic oil production run, and the Company’s technology for obtaining synthetic oil from associated petroleum gas has undergone a series of expert reviews, including international ones, and has been assessed as a high-tech, state-of-the-art process solution. Read more...
Alexey Miller Reelected as President of International Business Congress

Gazprom.com, October 21, 2020: The 23rd General Meeting of the International Business Congress (IBC) took place in absentia. The IBC members made decisions on agenda items. Alexey Miller, Chairman of the Gazprom Management Committee, was reelected as the IBC President for a two-year term. Rainer Seele, Chairman of the Executive Board of OMV, was reelected as the IBC Vice President for the next two years. Read more...
This Week in Review
COVID-19 Vaccine Plans May Stimulate Optimism on Oil Market, Says Russian Energy Minister

Tass.com, October 19, 2020: Statements of many countries about the intention to release the coronavirus vaccine in 2020, lack of large-scale lockdown measures and business activity keeping have the positive effect for the oil market and a cause for optimism, Russian Energy Minister Alexander Novak says on Monday at the OPEC+ Joint Ministerial Monitoring Committee (JMMC) meeting. Read more...
Russian GDP Decline Narrows to 3.3% on Year in September

1prime.biz, October 21, 2020: The Russian gross domestic product (GDP) decreased by 3.3% on the year in September after 3.7% in August, the Economic Development Ministry said in a report late on Tuesday. The ministry also improved its estimates for GDP decline in August to 3.7% from 4.3% and in July to 4.4% from 4.6%. The GDP decreased 3.5% on the year in January–September. In July–September, the GDP fell 3.8% after 8% in April–June. Read more...
Mishustin: Russia Plans to Become World Leader in Artificial Intelligence

Russiabusinesstoday.com, October 21, 2020: Artificial intelligence is the most promising area in digital technologies development and Russia plans to become a global leader in this sphere, Prime Minister Mikhail Mishustin said on Tuesday, TASS informed. Measures have been taken to create conditions for appearance and development of domestic and foreign IT companies in Russia, including lowering the income tax for such business to 3% and insurance contribution rates to 7.6%, the prime minister said. Read more...
Oil Steady as Russia Holds Out Prospect of Output Cut Extension

Reuters.com, October 22, 2020: Oil prices held on to gains made on the previous session on Friday, after Russian President Vladimir Putin indicated he would be prepared to extend record supply cuts in the face of the COVID-19 pandemic. Brent crude was off 1 cent at $42.45 a barrel by 0040 GMT having risen 1.7% on Thursday, while U.S. oil was 2 cents lower at $40.62, following a 1.5% gain in the previous session. Both contracts are heading for their first weekly loss in three. Read more...
Putin to Discuss Business Issues with Russian Union of Industrialists and Entrepreneurs

Tass.com, October 21, 2020: Russian President Vladimir Putin will hold a videoconference meeting with members of the Russian Union of Industrialists and Entrepreneurs on Wednesday. Presidential spokesman Dmitry Peskov said that part of the conversation would be public, if Putin deems it possible. Peskov explained that the traditionally closed format of the meeting allows its participants to speak more openly about the problems and issues. Read more...
Russia To Introduce Low, Fixed Business Income Tax Rates To Encourage Russian Investors Back To Russia

Russia-briefing.com, October 22, 2020: Russia’s Finance Ministry has proposed a fixed income tax rate for Russian shareholders of foreign companies in Russia. The amendments to the tax code would introduce a fixed tax rate of 5 million rubles per annum (US$64,600) per annum, without the need to file audited accounts. The rates will be applicable for five years. Read more...
Houston-Tyumen Sister Cities
The Budget Deficit of the Tyumen Region has Grown to an Unprecedented Size

Newdaynews.ru, October 22, 2020: The budget deficit of the Tyumen region for 2020 has grown to a record 91.3 billion rubles. The amendments to the law on the budget were made on Thursday, October 22, by the deputies of the Tyumen Regional Duma. According to the draft amendments introduced by the regional government, budget revenues are expected to be less than previously estimated, by almost 12 billion rubles, and will amount to 151 billion rubles, and expenses will be more by almost 12 billion rubles and will amount to 242.4 billion rubles. The decrease in revenues was due to the fall in oil prices, and income tax revenues decreased by 22 billion rubles. Read more...
CIS Business News
Kazakhstan Increases Gasoline Exports During Lockdown To Compensate For Low Domestic Demand

Astanatimes.com, October 21, 2020: Over the first eight months of 2020, the Kazakh petroleum producing companies exported 362,100 tons of motor gasoline worth $125.6 million compared to only 6,300 tons in the same period in 2019, reported energyprom.kz. Kazakhstan exported 103,300 tons of gasoline worth $36.7 million to the countries of the Commonwealth of Independent States. The main importers of Kazakh gasoline were Kyrgyzstan, Tajikistan, and Uzbekistan. The rest of the world imported 258,800 tons of Kazakh gasoline for $88.9 million. The biggest importers were Afghanistan, the Netherlands, and Georgia. Read more...
Russia Azerbaijan's Top Trade Partner Among CIS Countries in Jan-Sep

Azernews.az, October 22, 2020: Russia was Azerbaijan’s largest trade partner among CIS countries during the first nine months of 2020, with the trade turnover between the two countries amounting to $1.9 billion, the State Customs Committee has reported. Of the total turnover, export of Azerbaijani goods to Russia amounted to $499.7 million, while the goods imported to Azerbaijan from Russia amounted to $1.4 billion. Read more...
Plans to Increase Oil Tank Farm Storage Capacity in Belarus up to 1m Tonnes by 2025

Eng.belta.by, October 22, 2020: Plans have been made to increase the storage capacity of tank farms in the country up to 1 million tonnes by 2025. Deputy Prime Minister of Belarus Yuri Nazarov made the statement as the construction of the new oil trunk line Gomel-Gorki began on 22 October, BelTA has learned. Read more...
US-Russia Related News in Russia
◾ Новости недели
Предпринимателей Поддержат Отсутствием Локдауна

Kommersant.ru, Октябрь 23, 2020: Первый вице-премьер Андрей Белоусов вчера на совете регионов «Опоры России» подтвердил намерение правительства не вводить в России новые жесткие ограничительные меры и обозначил границы господдержки малого бизнеса на нынешнем этапе — она будет применяться в пределах общенационального плана восстановления экономики. Читать далее...
Минэк Оценил Улучшение Экономической Динамики в Третьем Квартале

Rbc.ru, Октябрь 21, 2020: Снижение ВВП России в третьем квартале замедлилось до 3,8% после спада на 8% во втором квартале. Об этом говорится в докладе «Картина деловой активности за сентябрь 2020 года», который подготовило Министерство экономического развития (МЭР). В ведомстве отметили, что из базовых отраслей основной вклад в сокращение спада внесло улучшение динамики торговли и обрабатывающей промышленности, а также рост выпуска в сельском хозяйстве. Читать далее...
ЦБ не Видит Рисков для Финансовой Стабильности РФ из-за Ослабления Курса Рубля

Tass.ru, Октябрь 23, 2020: Банк России не видит в текущем ослаблении курса рубля рисков для финансовой стабильности страны. Об этом сообщила глава ЦБ РФ Эльвира Набиуллина на онлайн пресс-конференции по итогам заседания совета директоров регулятора. Читать далее...
Госдума Поддержала Повышение Налогов на Доходы Свыше 5 млн Рублей

Vedomosti.ru, Октябрь 21, 2020: Госдума одобрила два, пожалуй, самых нашумевших налоговых законопроекта этого года. В первом чтении принят законопроект о применении повышенной ставки по налогу на доходы физических лиц (НДФЛ). При этом Минфин уточнил, что ставка 15% должна применяться только в отношении регулярных доходов. Читать далее...
ФРИИ Решил Инвестировать в Зарубежные Стартапы с Российскими Основателями

Rbc.ru, Октябрь 22, 2020: Фонд развития интернет-инициатив (ФРИИ) начал поддерживать российские стартапы за рубежом. Об этом РБК рассказал директор фонда Кирилл Варламов. По его словам, согласно новой инвестиционной стратегии фонда, принятой в сентябре, деньги на развитие бизнеса смогут получить иностранные компании, если в них не менее 50% акций принадлежат российским фаундерам. Также претендовать на инвестиции будут стартапы, которые планируют выйти на зарубежный рынок. 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.

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