February 2022 | ISSUE No. 364 | USRCC Business Newsletter
USRCC Partner Event
A landmark event in the energy industry’s calendar, and the world’s largest meeting place for the global gas, LNG, hydrogen and energy value chain, Gastech 2022 will take place from 5-8 September, at Fiera Milano, Italy.  
As the largest exhibition of its kind, Gastech Milan will provide space for 1,000 exhibitors to showcase the value that they can bring to the industry. Outdoor exhibition space will be available for the demonstration of lower-carbon technologies and mobility solutions. And, with over 20 international pavilions, the show floor will have a truly international appeal supporting an integrated world-class business environment. 
Conference attendees can look forward to hearing from over 900 speakers in sessions covering the latest commercial and technical developments as well as insights from over 400 ministers, CEOs and policymakers. They will lead the debate and convey their unique perspectives on the state of the energy industry and ambitions on how it will evolve over the coming decades.  

More information is available here.
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
ExxonMobil Makes First Commercial Sale of Certified Circular Polymers

Corporate.exxonmobil.com, February 24, 2022: ExxonMobil has completed its first commercial sale of certified circular polymers, using its Exxtend™ technology for advanced recycling of plastic waste. The purchaser is Berry Global, a leading provider of innovative packaging and engineered products, which will use the circular polymers to manufacture containers for high-performance food-grade packaging on a mass balance approach. Read more...
Baker Hughes Partners with NET Power to Advance Development and Global Deployment of Zero-Emissions Power Plants

Bakerhughes.com, February 22, 2022: Baker Hughes (NASDAQ:BKR), an energy technology company, has joined a strategic partnership with and invested in NET Power to advance the technical and commercial deployment of NET Power’s low-cost, electric power system that generates no atmospheric emissions and inherently captures all carbon dioxide (CO2). The partnership, which brings together industry expertise to enable the global deployment of NET Power’s technology solution, already includes McDermott; Constellation; Oxy Low Carbon Ventures, a subsidiary of Occidental; and 8 Rivers Capital. Read more...
LNG Industry Rebounds in 2021 Amid Supply Constraints and Volatile Prices

Shell.com, February 21, 2022: Shell plc (Shell) today announces the appointment of Ed Daniels to the newly created role of Strategy, Sustainability and Corporate Relations Director. The appointment is effective February 15. In his new role, Ed will become a member of Shell’s Executive Committee and will have accountability for the company’s existing Strategy, Sustainability and Corporate Relations organisations. Read more...
Andersen Global Enters Collaboration Agreement with Bahrain-Based Law Firm

Andersen.com, February 22, 2022: Andersen Global continues to expand the breadth of its Middle Eastern platform with the addition of collaborating firm Almoayed Chambers Consultancy in Bahrain. Almoayed Chambers Consultancy is a boutique law firm with specific focus on corporate commercial contracts, investments (M&A and joint ventures), labor law, real estate and legal advisory on all aspects of Bahraini laws. The firm provides legal services to multinational and local companies, institutions, investors and high net worth individuals. Read more...
Moody Rambin Welcomes Joe Rambin To Tenant Representation Team

Moodyrambin.com, February 21, 2022: Moody Rambin is proud to announce an addition to its office Tenant Representation division by welcoming Joe Rambin to the team as the division’s Senior Vice President. With more than ten years of experience, Joe brings an award-winning record of performance in corporate strategic planning, transaction management, site selection strategies, financial modeling, market analysis, and occupancy cost analysis. 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
This Week in Review
US to Impose Additional Sanctions, Export Restrictions on Russia - Biden

Tass.com, February 24, 2022: The US administration will impose new tough sanctions and export restrictions on Russia, US President Joe Biden said in the White House on Thursday. "Today I’m authorizing additional strong sanctions and new limitations on what can be exported to Russia. This is going to impose severe costs on the Russian economy, both immediately and over time..." Read more...
Russian Billionaires Lose $39Bln on First Day of Ukraine Invasion – Bloomberg

Themoscowtimes.com, February 25, 2021: Russian billionaires lost $39 billion in a single day after Russia invaded Ukraine on Thursday, according to calculations by Bloomberg. That doubled their losses since the start of the year following a $32-billion rout ahead of the invasion, as President Vladimir Putin geared up for his strike on Russia’s pro-Western neighbor, triggering heavy sanctions from advanced economies. Read more...
US, UK, Other World Powers Slap Sanctions on Russia Over Ukraine

1prime.biz, February 25, 2022: The U.S., the U.K., and other world powers have imposed or agreed to impose punishing sanctions on Russia, its top officials, state banks, and whole sectors of the economy over the country’s military invasion of Ukraine. Washington imposed sanctions on Russia’s four largest banks, including VTB Bank, and wants to sever the top Russian bank Sberbank from the U.S. financial system. The sanctions will cover the bonds of Russia’s largest state-controlled companies, he said. Read more...
Tough Sanctions Could Knock 5% off Russia's GDP, Says Capital Economics

Intellinews.com, February 24, 2022: Tough Western sanctions on Russia could slash Russian GDP by 5%, push the ruble to over 100 to the dollar and force the Russian central bank to raise rates by 500 bps, Capital Economics said in a research note after the Russian invasion of Ukraine on February 24. The British economic consultancy said Russia is in a much stronger position to weather Western sanctions than it was during the invasion of Crimea in 2014, but sanctions could still cause real damage. Read more...
Major Buyers of Russian Oil Struggle with Bank Guarantees - Sources

Reuters.com, February 24, 2022: The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world's largest producers. At least three major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases on Thursday, four trading sources said, citing market uncertainty after the Russian invasion. Read more...
OFAC Sets Until May 25 as Deadline for Finalizing Dealings with Sberbank, VTB, Otkritie, Sovcombank, VEB equities

Interfax.com, February 25, 2022: The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) has required that all U.S. entities finalize transactions with debts and equities of the sanctioned Russian banks by May 25, as follows from a general license published by OFAC along with the decision on sanctions. Read more...
Key Russian Oil Shipping Rate Triples

Rigzone.com, February 25, 2022: Freight rates are soaring as crude buyers struggle to find shippers willing to send their vessels into Russian ports because of the shelling in and around Ukraine. The rate to book an Aframax vessel to load at one of Russia’s Baltic Sea ports to western Europe almost tripled on Thursday from the previous day, according to traders and shipbrokers. The bulk of Russia’s flagship Urals crude that loads in the northern European ports is usually sold to western buyers, although they sometimes go into China and India. Read more...
CIS Business News
Southern Gas Corridor Turns Azerbaijan Into Reliable Energy Supplier

Eng.belta.by, February 22, 2022: Energy Minister Parviz Shahbazov has said that the Southern Gas Corridor (SGC) is transforming Azerbaijan into a reliable supplier of energy resources both in the region and in Europe. He made the remarks speaking at the meeting of the Gas Exporting Countries Forum (GECF) in Doha, Qatar on February 21. Read more...
President Tokayev Invites Foreign Investors to Contribute to Economic Transformation and Renewal at Foreign Investors’ Council Meeting

Astanatimes.com, February 23, 2022: President Kassym-Jomart Tokayev invited foreign investors to take part in the transformation and renewal of the country’s economic sector as it strives towards New Kazakhstan, the proposed government policy encompassing upcoming progressive political and economic reforms, reports the Akorda press service. Read more...
US-Russia Related News in Russian
◾ Новости недели
Силуанов: Россия Сократит Объем Заимствований в 2022 Году, Задействовав ФНБ

Tass.ru, Февраль 25, 2022: РФ планирует сократить объем заимствований в текущем году, использовав для этого средства Фонда национального благосостояния (ФНБ). Об этом заявил глава Минфина РФ Антон Силуанов. Читать далее...
ЛУКОЙЛ Расширяется в Мексике

Kommersant.ru, Февраль 25, 2022: Российский ЛУКОЙЛ закрыл сделку по вхождению в очередной проект в Мексике, где в партнерстве с итальянской Eni уже участвует в разработке трех блоков на шельфе. Но в отличие от остальных мексиканских проектов, где только началась разведка, на Блоке 4 уже ведется добыча. Сумма сделки с учетом исторических затрат составила почти $700 млн. Читать далее...
Delta Airlines Приостановила Сотрудничество с «Аэрофлотом» из-за Украины

Rbc.ru, Февраль 25, 2022: Американская авиакомпания Delta Airlines приостановила сотрудничество с российским «Аэрофлотом» из-за вторжения России на Украину, пишет Politico со ссылкой на официального представителя компании. Delta отозвала код-шеринговое соглашение с «Аэрофлотом». Оно позволяло авиакомпаниям выполнять совместные рейсы, пассажиры могли купить билет у одной компании, а полететь на самолете другой. Читать далее...
«Роснефть» Планирует Создать Три Хаба для Захоронения CO2

Vedomosti.ru, Февраль 22, 2022: «Роснефть» разрабатывает пилотный проект по улавливанию, закачке и хранению углекислого газа (carbon capture and storage technology, CCS), сообщил 21 февраля журналистам первый вице-президент нефтекомпании Дидье Касимиро. Он уточнил, что для захоронения углекислого газа будут созданы специальные СCS-хабы на Сахалине, Самотлорском нефтегазоконденсатном месторождении, а также в Нефтеюганске. Читать далее...
Крупнейшие Банки РФ Впервые Выступили с Совместным Заявлением

Ria.ru, Февраль 25, 2022: Крупнейшие российские банки впервые выступили с совместным обращением к клиентам на фоне санкций, заявляют о достаточном запасе ликвидности. США в четверг ввели блокирующие санкции против ВТБ, банка "Открытие", Совкомбанка и Новикомбанка, в отношении Сбербанка введены санкции по корреспондентским и платежным счетам (correspondent and payable-through account sanctions). В начале недели под ограничительные меры США и ЕС попали Промсвязьбанк и АБ "Россия". 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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