January 2021 | ISSUE No. 305| USRCC Business Newsletter
USRCC Upcoming Events
The U.S.-Russia business relations in 2020 were challenging. How would 2021 be different in terms of U.S.-Russia mutual cooperation? What are the hopes and expectations?

Matthew Rojansky, the leading expert on the U.S. – Russia relations, will share his thoughts and insights on the impact of the new administration policies on the U.S.-Russia business interactions.


Matthew Rojansky is Director of the Kennan Institute at the Woodrow Wilson Center in Washington, D.C. An expert on U.S. relations with the states of the former Soviet Union, especially Russia, he has advised governments, intergovernmental organizations, and major private actors on conflict resolution and efforts to enhance shared security throughout the Euro-Atlantic and Eurasian region.

To read the full bio click here.
Tuesday, January 26th, 2021

8:00 am– 9:00 am CST (Houston) 17:00 – 18:00 (Moscow)
Members – complimentary | Non-members - $20
Simultaneous translation into Russian language is included.
Registration deadline: noon (CST) Monday, January 25th, 2021.
Webinar details will be provided upon registration.
Refunds will not be issued after January 22nd, 2020.
USRCC Membership
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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 Develops its Own Completion System for Horizontal Wells

Lukoil.com, January 6, 2021: LUKOIL has become the first company in Russia to successfully develop and implement own completion system for horizontal wells. The high technological reliability of the new import substituting equipment will make it possible for the Company to start the commercial production of reserves which till recently was hindered due to lack of suitable Russian-made technology. Read more...
RNG Employees Received Awards for Contributing to Development of Sakha Republic

Rngoil.ru, December 30, 2020: RNG considers the contribution to the social and economic development of Yakutia to be one of its main tasks. The company fulfils its obligations to the governmental authorities, cooperates with the local administration, and conducts activities of production responsibly. RNG priorities are the rational use of resources, environmental care, and participation in infrastructure projects. Read more...
This Week in Review
Home.treasury.gov, January 5, 2021: OFAC has published new (869870) and amended (545546) frequently asked questions related to the Countering America’s Adversaries Through Sanctions Act (CAATSA). Read more...
Russia Considers COVID-19 Vaccination Certificates for Cross-border Travels

Reuters.com, January 4, 2021: Russian President Vladimir Putin has ordered the government to consider issuing certificates to those who had been inoculated with domestic vaccines against COVID-19 for overseas travels, a document published by the Kremlin showed on Monday. The document also said the government has been tasked with making the certificates internationally recognizable. Read more...
Personal Income Tax in Russia Rises to 15% for Incomes Above $67,075

Tass.com, January 1, 2021: The law on increasing the personal income tax rate from 13% to 15% for income surpassing 5 mln rubles ($67,075) per year comes into force in Russia. President Vladimir Putin came up with the initiative in June, and on November 23 signed the law. He emphasized that not all income will be taxed at an increased rate, but only the part that exceeds 5 mln rubles per year. Read more...
Novak: Russia Expects Oil Demand Recovery in 2021 at 3-5 Mln Bpd

Russiabusinesstoday.com, January 7, 2021: Volatility in the oil market in 2021 will decrease and oil demand will grow by 3-5 mln barrels per day (bpd). Nevertheless, it will not reach the pre-crisis level, which was higher by 6-7 mln bpd against the level of 2020, Russian Deputy Prime Minister Alexander Novak said in an interview with Rossiya 24 TV channel. Read more...
Russia Drops Corporate Income Tax Rate For Software Developers To 3%

Russia-briefing.com, January 4, 2021: Russian IT companies, and especially software developers can now enjoy tax relief measure which came into force on Friday, January 1. These lower both the corporate income tax rates for such companies and insurance premiums for the industry. Income tax drops to 3% from 20% while IT industry insurance premiums drop from 14% to 7.6%. Read more...
Russia Reserves Gain $28bn in 2020 to Reach $583bn as of November, but Make-up Has Changed Radically

Intellinews.com, January 3, 2021: Russia’s gross international reserves (GIR) fell by about $10bn in the third quarter of 2020 as the government spent some money on alleviating the pain of the coronacrisis to reach $582.7bn as of the last day of November. That is down from a recent high of $594.4bn at the end of August, when the economy was bouncing back nicely from the earlier pain after the lockdown was lifted. Read more...
Houston-Tyumen Sister Cities
A New Tool to Support Exporters is Being Introduced in the Tyumen Region

Megatyumen.ru, January 8, 2021: Increasing export volumes is one of the priority areas of the Tyumen Oblast government. It is being carried out within the framework of the international cooperation and export national project. Thanks to state support, the number of exporters in the region is growing every year. In particular, for 9 months of 2020, it, compared to the same period in 2019, increased from 178 to 186. The growth was also due to medium and small enterprises, the number of which increased from 125 to 132. Read more...
CIS Business News
Kazakhstan Expects Large Foreign Banks To Enter Kazakh Market, Eases Registration Procedures

Astanatimes.com, January 7, 2021: Foreign banks will be able to open branches in Kazakhstan by submitting a single, simplified application. Kazakh President Kassym-Jomart Tokayev signed a law on the restoration of economic growth, which included amendments regarding registration procedures of foreign banks on Jan. 2, the press service of the Kazakh Agency for Regulation and Development of Financial Market reported. Read more...
Belarus Signs Long-term Oil Supply Contract with Azerbaijan's SOCAR

Azernews.az, January 4, 2021: The Belarusian Oil Company and SOCAR Trading, a subsidiary of State Oil Company of the Azerbaijan Republic (SOCAR), have signed a long-term contract to supply raw materials to Belarusian refineries, TASS reported citing the Baku Report agency. The contract has been signed for one year with the possibility of further extension. SOCAR Trading will supply Belarus with both oil from Azerbaijan and, potentially, from other sources. The volume of deliveries under the new contract is not disclosed. Read more...
US-Russia Related News in Russia
◾ Новости недели
В России Продолжат Субсидирование Среднего и Малого Бизнеса
Iz.ru, Январь 6, 2021: Программу субсидирования малого и среднего бизнеса продлили в РФ. Частично компенсируются затраты на выпуск акций и облигаций. Среди обязательных условий — компания должна быть зарегистрирована в Едином реестре субъектов малого и среднего предпринимательства. Также не должно быть просроченной задолженности по налогам и сборам. При этом поддержку не получат компании с годовым доходом более 2 млрд рублей. Читать далее...
Всемирный Банк Спрогнозировал Динамику Российской Экономики в 2021 году
1prime.ru, Январь 5, 2021: Всемирный банк (ВБ) прогнозирует рост ВВП России в текущем году на 2,6%, а не на 2,7%, которые он ожидал в июньском докладе, говорится в новом прогнозе банка по динамике мировой экономики. По оценкам банка, в 2022 году рост ВВП РФ ускорится до 3%. При этом в 2020 году экономика России, как считает ВБ, пережила спад на 4%, а не на 6%, как ожидалось в июньском докладе. Читать далее...
Россия в Феврале Увеличит Добычу Нефти на 75 тысяч б/с

Interfax.ru, Январь 5, 2021: РФ и Казахстан в феврале увеличат добычу нефти на 75 тыс. б/с в рамках сделки ОПЕК+ и на тот же объем в марте, сообщила пресс-служба Минэнерго Казахстана. Новая квота России по добыче нефти в рамках договоренностей ОПЕК+ на февраль составляет 9,184 млн баррелей в сутки, в марте - 9,249 млн б/с, следует из материалов ОПЕК+. Читать далее...
Худайнатов Стал Совладельцем «дочки» «Роснефти»

Rbc.ru, Декабрь 30, 2020: «ННК-Ойл» Эдуарда Худайнатова 29 декабря стала владельцем 9% «РН-Северная нефть», подконтрольной структуре «Роснефти» «РН-Разведка и добыча» (у нее остался 91%). Это следует из данных Единого государственного реестра юридических лиц (ЕГРЮЛ). Пресс-секретарь «Роснефти» Михаил Леонтьев отказался от комментариев. РБК направил запрос представителю ННК Рустаму Кажарову. Читать далее...
Число Подтвержденных Случаев Форс-мажора во Внешнеторговых Сделках в Период Пандемии Выросло в 10 раз - ТПП РФ

Finmarket.ru, Январь 8, 2021: Число подтвержденных случаев форс-мажора во внешнеторговых сделках в период пандемии подскочило примерно в десять раз, рассказал на встрече с премьер-министром РФ Михаилом Мишустиным президент Торгово-промышленной палаты Сергей Катырин. 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.  
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