The Ministry of Finance more than doubles the list of offshore zones, the Ministry of Labor reports the lowest unemployment rate in the country’s history, Rosneft aims to pay full dividends by 2022 and shows some of the best financial results in the industry, and Evraz’s CEO resigns because the company finds it difficult to operate under restrictions. RB continues to follow key economic and business developments in Russia and around the world.

Unemployment drop, Evraz and Rosneft news, direct flights to Georgia and Cuba: business essentials June 1

  • The Ministry of Labor reported the lowest unemployment rate in the entire history of the country: May figures are 17.3% lower than those of May last year (TASS).
  • The UN claims to have achieved sanctions relief for the export of Russian agricultural products.
  • The Russian government has imposed a ban on Polish trucks for transporting cargo through Russia.
  • The Ministry of Finance of the Russian Federation expanded the list of extraterritorial zones to 91 countries (previously there were 41), the list includes “hostile countries” (EU, UK, Switzerland, USA, Canada, Japan, Republic of Korea , Singapore, Taiwan, etc.). As of July 1, the order with the updated list enters into force.
  • Alexey Ivanov, the CEO of the Evraz metallurgical company, resigned after the expiration of his powers, but will remain in a leading position in the “Russian perimeter”. Company representatives told RBC that Evraz plc faced “the inability to conduct operations” due to sanctions and “other technical restrictions.”
  • Shareholders approved the final dividend for 2022 in the amount of 38.36 rubles per share, which will lead to total payments of 406.5 billion rubles. The company’s board of directors also approved a program for placing bonds traded on the exchange for 10 years for 1,115 billion rubles
  • The Voskhod Foundation has financed NovoSkin, which has developed a technology for the regeneration and treatment of damage to human skin (the amount of the transaction was not disclosed).
  • Energoinvest was approved for the acquisition of 100% of the authorized capital of Irokinda LLC, owned by Buryatzoloto JSC.
  • The largest bank in the US, Goldman Sachs, is exploring the possibility of breaking the partnership with Apple, experts believe that the management of Apple cards can be transferred to American Express (Wall Street Journal).
  • Aeroflot has resumed direct communication with the country: the first flight from Moscow to Varadero took off today from Sheremetyevo with an almost full commercial load. The flights are operated by the Rossiya airline, which will increase the number of flights to Cuba from 2 to 3 weekly starting in September.
  • The Red Wings airline, in turn, launches direct flights from Moscow to Kutaisi from July 10 and from Sochi to Tbilisi from July 11.
  • The average check for the purchase of a Chinese smartphone in the Russian Federation in January-June 2023 fell by 30% to 9.7 thousand rubles against 13.9 thousand rubles for the same period in 2022 (Russian standard).
  • WhatsApp is rolling out a new feature – transferring chat history from one phone to another using a QR code.
  • The Norwegian Supreme Court overturned the acquittal of the son of the former head of the Russian Railways, acknowledging that the ban on flights over the country’s territory for Russian citizens also applies to drones; the case was returned for a new trial.
  • The general director of Avtomatika (part of Rostec), Andrei Motorko, was arrested and charged with fraud: he illegally received a subsidy from the Ministry of Industry and Trade to offset the costs of developing his own software, for which the businessman provided Chinese counterparts.


Ekaterina Alipova

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.


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