January 2022 | ISSUE No. 359 | USRCC Business Newsletter
USRCC Partner Event
POSTPONED to February 3, 2023

The Plaza Hotel, NYC

Due to rising COVID cases in New York City and the Omicron variant's extremely high transmission rate, the 56th Petroushka Ball will no longer take place on February 11, 2022. The new date is February 3, 2023.

Petroushka Ball Committee had to adapt their plans to ensure the well-being, health and safety of all involved and looks forward to your support of the Russian Children's Welfare Society (RCWS) and hopes to meet all at the 2023 Petroushka Ball.
If you purchased tickets for the 56th Petroushka Ball, please contact the RCWS at main@rcws.org.
Please email main@rcws.org with the subject line “Transfer Tickets” and provide the instructions by January 15, 2022. We will email you a confirmation of your reservation for February 3, 2023.
By donating the value of your tickets to the Russian Children’s Welfare Society (RCWS) as a tax-deductible contribution, it will support the Society’s charitable programs assisting children at risk in Russia. Please email main@rcws.org by January 15, 2022 with “Donate My Tickets” in the subject line and provide your name, total amount and/or a copy of the Eventbrite order in the body of the email.

We will automatically be refunding all orders that have not been transferred or donated between January 17 - January 21, 2022. The value of your tickets, including the Eventbrite fee, will be refunded to your original form of payment for all credit card purchases.       
If you purchased tickets via phone or submitted the 2022 Petroushka Ball sponsorship form by email/fax to RCWS with your credit card information, please email main@rcws.org by January 15th with instructions to arrange for the above option(s).
Thank you for your patience, understanding and continued support.
USRCC Partner Event
St. Petersburg International Economic Forum (SPIEF)
The St. Petersburg International Economic Forum (SPIEF) is a unique event in the world of business and economics. SPIEF has been held since 1997, and since 2006, it has been held under the auspices of the President of the Russian Federation, who has also attended each event.
Over the last 24 years, the Forum has become a leading global platform for members of the business community to meet and discuss the key economic issues facing Russia, emerging markets, and the world as a whole.
The 25th St. Petersburg International Economic Forum is set to take place on 15–18 June 2022. As in previous years, the business program will focus on the global and Russian economies, social issues, and technological development.
The Forum will be held in strict accordance with health and safety measures to prevent the spread of COVID-19, carefully drawn up by the Organizing Committee in line with the WHO recommendations. SPIEF 2022 will provide a full range of services to enable participants to effectively nurture and expand their business network and enjoy safe, productive participation, including in an enriching cultural and sporting program.

More information on the upcoming SPIEF 2022 is available 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
Shell Completes Sale of Interest in Deer Park Refinery to Partner Pemex

Shell.com, January 20, 2022: Shell Oil Company, a subsidiary of Royal Dutch Shell plc, has completed the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V. (a subsidiary of Petroleos Mexicanos, or Pemex) for $596 million, a combination of cash and debt. Read more...
ExxonMobil, SABIC Start Operations at Gulf Coast Manufacturing Facility

Corporate.exxonmobil.com, January 20, 2022: ExxonMobil and SABIC today announced the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants. The operation includes a 1.8 million metric ton per year ethane steam cracker, two polyethylene units capable of producing up to 1.3 million metric tons per year, and a monoethylene glycol unit with a capacity of 1.1 million metric tons per year. Read more...
Andersen Global Broadens Footprint in Asian Market through Collaboration with Law Firm in Sri Lanka

Andersen.com, January 18, 2022: Andersen Global continues to expand its platform in the Asian market through a Collaboration Agreement with Varners, one of the largest full-service law firms in Sri Lanka. Led by Managing Partner Mahinda Haradasa, Varners specializes in banking and finance, commercial, intellectual property, litigation, real estate and telecommunications, international trade and dispute resolution. Located in Colombo, the firm operates with eight Partners and more than 50 professionals, serving clients at the local and international level. Read more...
USRCC Announcement

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 / IRS Informational Collaboration
2022 tax filing season is about to start and begins on January 24th.
IRS outlines refund timing and what to expect in advance of April 18 tax deadline.

You can review the IRS news releases here.
This Week in Review
Russia Exports More than 19 Million Tonnes of LNG, Gas Condensate via Sabetta Seaport

Tass.com, January 20, 2022: More than 18.7 million of liquefied natural gas (LNG) and 827,000 tonnes of gas condensate was exported via the Sabetta seaport (the Yamalo-Nenets Region), the Urals Customs Department’s press service told reporters. The cargo left the Sabetta port in 257 LNG carriers and 20 condensate carriers. "An average time to pass the procedures at the seaport is one hour," the press service quoted the customs station’s Head Evgeny Kuryrev as saying. Read more...
NOVATEK: 2021 Reserve Replacement Reached 107%

Rogtecmagazine.com, January 18, 2022: PAO NOVATEK today announced that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2021. Total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 16,409 million barrels of oil equivalent (boe), including 2,261 billion cubic meters (bcm) of natural gas and 189 million metric tons (mmt) of liquid hydrocarbons. Read more...
Report: US, EU Rule Out Russian Banks' Disconnection from SWIFT

1prime.biz, January 17, 2021: The U.S. and the E.U. have ruled out disconnection of Russian banks from the SWIFT system among possible sanctions, Handelsblatt reported on Monday ahead of Thursday’s meeting between U.S. State Secretary Antony Blinken and Germany's Chancellor Olaf Scholz to discuss the sanctions. The paper said quoting sources that targeted economic sanctions against the largest Russian banks are being prepared instead. Read more...
BP, Rosneft Were Only Firms with Over 1 Billion Barrel Oil Finds in 2021

Oilprice.com, January 20, 2022: BP and Rosneft were the only companies to have delivered over 1 billion barrels of oil equivalent in discoveries last year due to their exposure in Russia which yielded 48 percent of the world’s discovered resources, Westwood Global Energy Group said in a new report on 2021 high impact exploration. Read more...
Russian IPOs Hit Record in 2021, M&As Down 40%

Intellinews.com, January 19, 2022: The Russian initial public offering (IPO) market in 2021 hit a record $3.7bn, the highest since 2011, RBC business portal reported citing the data by Refinitiv. At the same time, the M&A market was down by 40% in 2021. As followed closely by bne IntelliNews, in 2021 Russian IPOs were back and billions of dollars have already been raised and billions more in listings are still in the pipeline. Read more...
Russia Missing OPEC Targets as Some Members Struggle to Keep Pace

Worldoil.com, January 18, 2022: Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling to ramp up even as fuel demand rebounds from the pandemic. With crude already trading above $85 a barrel in London, the outlook for Russian output leaves the global market looking even tighter than expected. It risks amplifying the energy-price surge that’s contributing to the highest inflation in decades. Read more...
CIS Business News
Deputy PM: Belarus, Azerbaijan Should Keep Pace in Trade, Economic Cooperation

Eng.belta.by, January 21, 2022: Belarus and Azerbaijan need to maintain momentum in trade and economic cooperation, Belarusian Deputy Prime Minister Igor Petrishenko said as he met with Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to the Republic of Belarus Ulvi Bakhshaliyev, BelTA has learned. Read more...
SOCAR, Axens Ink Accord for Catalytic Cracking Unit

Azernews.az, January 18, 2022: Azerbaijan's State Oil Company (SOCAR) and Axens have signed a license and project agreement for a catalytic cracking unit, as part of the modernization of the Heydar Aliyev refinery. The document was signed by SOCAR's Heydar Aliyev oil refinery director Bakhtiyar Mammadov and Axens licensing sales director Fabien Lundy. Read more...
President Tokayev Sets Course on New Economic Roadmap During Meeting with Business Executives

Astanatimes.com, January 21, 2022: President Kassym-Jomart Tokayev urged business leaders to work with the government on building a new economic policy during a January 21 meeting. New reforms aim to become the basis of a new Kazakhstan. Fair competition, transparency and predictability of state policy, taxing honesty and social responsibility are set to become the principal elements of the new economic policy. Read more...
US-Russia Related News in Russian
◾ Новости недели
Запасы Нефти в США Выросли на 515 тыс. Баррелей

Tass.ru, Январь 20, 2022: Коммерческие запасы нефти в США за прошедшую неделю выросли на 515 тыс. баррелей и на 14 января составили 413,813 млн баррелей, сообщило Минэнерго США. При этом аналитики, опрошенные агентством Bloomberg, ожидали сокращения запасов на 1,75 млн баррелей. Читать далее...
Компания "Газпром" Купила Западно-Малыгинский Участок

Kommersant.ru, Январь 18, 2022: «Газпром» расширил ресурсную базу Тамбейской промышленной зоны на Ямале, выкупив на аукционе Западно-Малыгинский участок. Аукцион вызвал ажиотаж среди участников рынка и обернулся довольно острой борьбой за актив между «Газпромом» и НОВАТЭКом, как и в прошлом году при торгах на Восточно-Малыгинский участок, который также примыкает к Малыгинскому месторождению «Газпрома». За оба участка «Газпром» заплатил более 14 млрд руб., хотя стартовая сумма за каждый составляла порядка 500 млн руб. Читать далее...
Банк России Продлевает Действие Механизма Поддержки Малого Бизнеса

1prime.ru, Январь 21, 2022: Банк России с 24 января возобновит выдачу кредитов в рамках временного механизма поддержки кредитования малых и средних предприятий, наиболее пострадавших от дополнительных противоэпидемических мер, сообщается на сайте регулятора. Читать далее...
Российский Инвестиционный Форум Отложили из-за Коронавируса

Rbc.ru, Январь 18, 2022: Российский инвестиционный форум (РИФ) в Сочи перенесли с февраля на более поздний срок, сообщил премьер-министр Михаил Мишустин. Его слова передает пресс-служба правительства. Премьер пообещал вернуться к вопросу о форуме, когда улучшится эпидемиологическая ситуация. Читать далее...
Внешний Долг РФ в 2021 Году Увеличился до $478,2 млрд

Interfax.ru, Январь 20, 2022: Внешний долг РФ в четвертом квартале 2021 года уменьшился на $12,5 млрд, или на 2,5%, до $478,2 млрд. Об этом сообщается в информации, размещенной на сайте ЦБ РФ. По итогам 2021 года показатель вырос на $11 млрд, или на 2,4%. Читать далее...
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U.S.-Russia Chamber of Commerce
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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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