January 2022 | ISSUE No. 360 | USRCC Business Newsletter
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 Starts Up Hydrogen Electrolyser in China with 20 MW Production Capacity

Shell.com, January 28, 2022: Shell has started operations at the power-to-hydrogen electrolyser in Zhangjiakou, a joint venture between Shell (China) Limited and Zhangjiakou City Transport Construction Investment Holding Group Co. Ltd. One of the world’s largest hydrogen electrolysers¹ has today started production of green hydrogen in Zhangjiakou, Hebei Province, China. The electrolyser will provide about half of the total green hydrogen supply for fuel cell vehicles at the Zhangjiakou competition zone during the Winter Olympic Games, set to begin on February 4, 2022. Read more...
A Circular Solution to Plastic Waste

Sulzer.com/en, January 25, 2022: Sulzer Chemtech has finalized an agreement with Encina Development Group, LLC. Sulzer Chemtech will provide technology to recover high purity circular aromatics from cracked oil products derived from Encina’s mixed-plastics-to-aromatics catalytic conversion platform. Encina’s 1000 tons per day waste plastics recycling facility will be located in Northeast United States, and is expected to be operational in 2024. Read more...
Feasibility Study Completed for Soyuz Vostok Gas Pipeline Project

Gazprom.com, January 25, 2022: A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Sainbuyan Amarsaikhan, Deputy Prime Minister of Mongolia, took place today via a video link. The parties signed a statement on the results of the consideration of the feasibility study for the Soyuz Vostok gas trunkline construction project. 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 Can Become One of the Largest Hydrogen Exporters by 2035 — Putin

Tass.com, January 26, 2022: Russia can turn into one of the world’s largest hydrogen producers and exporters by 2035, President Vladimir Putin said on Wednesday at the meeting with Italian businessmen. "Implementation of pilot projects on production of hydrogen with a low level of greenhouse gas emissions and its use in the energy sector, transport and industry can start in coming years," the President said. Read more...
TMK: Announces a Competition for Developers of Innovative Solutions for Oilfield Services

Rogtecmagazine.com, January 24, 2022: TMK-Premium Service, part of the Pipe Metallurgical Company (TMK), has launched a platform for working with external innovations called the TMK-Premium Service Pilot Track. As part of the TMK Premium Service program, it will select and test start-up initiatives in the areas of premium pipe service for the oil and gas industry, the development of high-tech threaded connections and the optimization of business processes. Read more...
IMF Worsens Forecast for Russia’s GDP Growth to 2.8% in 2022

1prime.biz, January 25, 2021: The International Monetary Fund (IMF) has adjusted its forecast for Russia’s 2022 gross domestic product (GDP) growth to 2.8% from 2.9%, but upgraded the outlook for 2023 to 2.1% from 2%, the authority said in the World Economic Outlook published on Tuesday. The IMF said that Russia’s GDP grew by 4.5% in 2021 after contracting by 3% in 2020. Read more...
U.S. Oil Firms Urge Biden for Caution over Possible Sanctions on Russia

Oilprice.com, January 26, 2022: Some of the largest U.S. companies, including the biggest oil lobby, called on the Biden Administration and Congress this week to tread carefully with potential new sanctions against Russia that could hit American firms and their competitiveness. Read more...
Oil Hits 7 Year High Amid International Concerns

Rigzone.com, January 26, 2022: Brent oil surged above $90 for the first time in seven years before paring as the market fretted over Russia-Ukraine tensions. Futures in New York closed 2% higher, with the global benchmark touching $90 a barrel earlier in the session on Wednesday. Concerns are mounting over a possible Russian incursion into Ukraine, with U.S. President Joe Biden saying he’d consider sanctioning Vladimir Putin if the Russian leader orders an invasion. A potential conflict carries large risks for financial markets -- especially energy commodities such as natural gas and oil. Read more...
Russia Struggles to Lift Oil Output Despite Wells at 5-year High

Worldoil.com, January 25, 2022: Russia’s operating oil wells reached the highest since OPEC and its allies joined forces, yet bringing back production curtailed under the current deal remains elusive. Last month, Russia pumped oil from more than 155,600 wells, according to Bloomberg calculations based on data from the Energy Ministry’s CDU-TEK unit. That’s the country’s highest number of active ones on a monthly basis since at least 2017, when Moscow partnered with the Organization of Petroleum Exporting Countries in coordinating output curbs to rebalance the market. Read more...
CIS Business News
Belarus' Investment Program 2022 Includes 157 Projects

Eng.belta.by, January 27, 2022: Construction of 157 facilities will be financed in accordance with the state investment program for 2022, Belarusian First Deputy Economy Minister Yuri Chebotar said while commenting on Decree No. 18 signed by the head of state on 26 January, BelTA learned from the press service of the Economy Ministry. Read more...
Russia – Azerbaijan 2021 Bilateral Trade Hits US$3 Billion

Russia-briefing.com, January 26, 2022: The Russian Ambassador to Azerbaijan, Mikhail Bocharnikov said at a press conference yesterday (January 25) that bilateral trade between the two countries had reached US$2.9 billion for the January-November period of 2021, indicating that the likely bilateral trade volume once December was included would be over US$3 billion. Read more...
Open Door Investment Policy Remains Consistent, Says Kazakh President

Astanatimes.com, January 27, 2022: “Kazakhstan remains consistently open to multifaceted cooperation with the international community,” said President Kassym-Jomart Tokayev on Jan. 24 on his Twitter. “We will continue to strengthen close ties with partners to benefit our country and our people. Our investment policy of open doors also remains consistent,” he added. Read more...
US-Russia Related News in Russian
◾ Новости недели
UBS Назвал "Роснефть" Предпочтительным Объектом для Инвестирования в 2022 Году

Tass.ru, Январь 28, 2022: "Роснефть" обладает хорошим потенциалом роста добычи, и бумаги компании являются одними из наиболее предпочтительных для инвестирования, говорится в отраслевом отчете крупнейшего швейцарского банка UBS. В конце прошлого года эксперты UBS установили целевую стоимость бумаг компании на уровне $11,5 за GDR, что к текущим котировкам дает потенциал роста до 60%. Читать далее...
Компания "Газпром нефть" Может Обогнать ЛУКОЙЛ по Добыче Углеводородов в 2023 году

Kommersant.ru, Январь 27, 2022: «Газпром нефть» в ближайшие годы намерена быстрее, чем другие нефтекомпании, увеличивать добычу. К 2025 году она прогнозирует рост производства углеводородов до 130 млн тонн нефтяного эквивалента, в этом году рассчитывает на увеличение на 10%. Хотя по добыче нефти и конденсата «Газпром нефть» все равно не обгонит ЛУКОЙЛ в ближайшей перспективе, однако уже в 2023 году может стать второй после «Роснефти» нефтекомпанией по общей добыче углеводородов. Читать далее...
РЖД Планируют Увеличить Перевозки Нефти и Нефтепродуктов

1prime.ru, Январь 28, 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...
Абрамченко Рассказала о Планах Создания 8 Индустриальных Кластеров в Сибири

Vedomosti.ru, Январь 28, 2022: Профильные ведомства и комиссия генсовета партии «Единая Россия» предложили включить в стратегию развития Сибири восемь индустриальных кластеров, которые помогут вместе с существующими моделями повышения инвестиционной активности создать более 450 000 рабочих мест к 2030 г. и привлечь более 9 трлн руб. инвестиций, рассказала вице-премьер Виктория Абрамченко. Читать далее...
В Минфине Предложили Регулировать, а не Запрещать Обращение Криптовалют

Interfax.ru, Январь 25, 2022: В Минфине предлагают не запрещать обращение криптовалют в России, а регулировать. Об этом на конференции "Криптоактивы: всё, что вы хотели знать о регулировании, но боялись спросить" заявил директор департамента финансовой политики Минфина Иван Чебесков, комментируя недавний доклад Банка России. Читать далее...
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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.  
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