Tag Archives: Russian President Vladimir Putin

3 Key Regions for Energy Development

By Aimee Duffy, The Motley Fool

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The success of employing new technology to exploit unconventional sources in the U.S. can sometimes distract us from the world energy picture. Discoveries of oil and gas in foreign lands can and will impact the state of American energy, however. With that in mind, let’s take a look at energy development in three very different places: East Africa, New Zealand, and Colombia.

East Africa
The story about East Africa‘s offshore natural gas reserves has been growing for quite some time. Like any good story, the numbers and size of the reserves in question grow as it gets told more often. Except unlike most fables, these outsized numbers aren’t borne of exaggeration but of more drilling and a growing number of new discoveries. The region’s reserves are so highly sought after that in the past week alone there were three separate announcements involving some of the biggest oil companies in the world.

Last week, Italian energy company Eni announced that it was selling a 20% stake in its Area 4 project offshore Mozambique to China National Petroleum Corporation for $4.2 billion. CNPC is China‘s largest oil and gas company. A state-owned operation, it is also the parent of the publicly traded PetroChina. Area 4 is thought to hold 75 trillion cubic feet of gas.

Also last week, ExxonMobil and Norway’s Statoil discovered gas at their third deepwater well in Block 2, offshore Tanzania. With a 65% working interest in the project, Statoil is the operator and has completed five wells in the block over the last 15 months. Estimates now place the total gas reserves at 15 tcf to 17 tcf (trillion cubic feet).

Finally, Russian gas company Gazprom announced yesterday that it was also seeking a stake in Eni’s Area 4 project. Talks are only in the early stages, but expect this deal to continue to develop as Russian President Vladimir Putin travels to Africa for the BRICS summit next week.

New Zealand
At the beginning of the year, I wrote about Shell’s efforts to conduct seismic surveys offshore New Zealand in its quest for oil. This time, the story is about natural gas.

New Zealand is self-sufficient with its natural gas production. The country’s 20 natural gas fields generated about 1.5 tcf in 2011. The government’s Petroleum Action Plan aims to increase the development of these resources. Currently, gas production contributes roughly $2 billion to the country’s GDP.

So far, the plan seems to be working. Improving production results allowed Canadian company Methanex to announce it was increasing capacity at its New Zealand methanol plants. The company will boost capacity in the country by 700,000 metric tons by the end of the year, for a total of 2.2 million metric tons. The increase will necessitate restarting one facility and expanding another.

Colombia
Colombia has been on the radar of many investors because of the country’s commitment to growing its oil production. In 2006, production sat at 529,000 barrels per day. As …read more
Source: FULL ARTICLE at DailyFinance

Israeli premier invited to Russia

An Israeli official says the country’s prime minister has been formally invited to Russia.

He says Benjamin Netanyahu received a letter Wednesday from Russian President Vladimir Putin inviting him to visit Moscow “for discussions.”

Talks about Iran‘s nuclear program and violence in Syria are likely on the agenda. Syria has good relations with Israel‘s arch foes Iran and Syria.

Israel and Russia enjoy generally friendly ties, and have deep economic and cultural relations bolstered by the more than 1 million immigrants from the former Soviet Union who live here. Putin visited Israel last year.

Netanyahu has not yet responded to the invitation, the official said speaking on condition of anonymity according to protocol.

Putin also congratulated Netanyahu on forming his new government, he said.

…read more
Source: FULL ARTICLE at Fox World News

Russian money in Cyprus hit by savings seizure

Cyprus has for decades been a favorite place for Russian businessmen to place their savings and for corrupt Russian officials to stash ill-gotten gains. Like all deposits in Cyprus, that money is expected to be taxed as part of a bailout deal that Cyprus is receiving from its fellow members in the eurozone.

Russian President Vladimir Putin on Monday criticized the decision as “unjust, unprofessional and dangerous,” according to his spokesman. Here’s a glance at why Russians keep so much money in Cypriot banks and how Russia can be affected by the island nation’s crisis.

HOW MUCH MONEY DO RUSSIANS KEEP IN CYPRUS?

Russians keep about $19 billion in deposits in Cyprus, mainly through companies they set up there, according to the Moody’s ratings agency. Russian banks also had around $12 billion placed with Cypriot banks at the end of last year and have loaned about $40 billion to Cypriot companies of Russian origin.

WHY DO RUSSIANS KEEP SO MUCH MONEY IN CYPRUS?

Russia boasts some of the world’s lowest income and corporate taxes — both flat at 13 percent. But over the past two decades, Russian businessmen have preferred to place their savings in offshore, partly to escape political uncertainty and corruption in Russia. Cyprus offers a 10 percent corporate tax rate and relatively stable political situation.

Cyprus is also believed to be a top destination for money-laundering. It is much safer for a corrupt Russian official to keep proceeds from illegal activities abroad, hiding information about their fortunes and holdings away from the prying eyes of Russian banking regulators.

Russian officials estimated that about $49 billion, which is equivalent to 2.5 percent of Russia‘s gross domestic product, was wired to foreign accounts illegally last year. Sergei Ignatyev, outgoing chief of the Russian Central Bank, has said that these transfers might be linked to drug trafficking and corruption activities.

DO ORDINARY RUSSIANS KEEP MONEY IN CYPRUS?

No, middle-class Russians mainly keep their savings and investments at home.

HOW COULD DEVELOPMENTS IN CYPRUS AFFECT RUSSIA’S ECONOMY?

Tens of billions of dollars have left Russia in recent years, mainly because businessmen are anxious about Russia‘s politics and …read more
Source: FULL ARTICLE at Fox World News

Cypriots rush to pull money from banks as EU takes aim at Russian deposits

Cypriots rushed to pull their money out of banks and ATMs before the tiny Mediterranean nation’s government could finalize a plan to seize depositors’ funds to satisfy austerity demands from euro zone leaders, sparking a run that prompted banks to be closed until at least Thursday.

The island nation’s leaders were huddling to come up with a way to soften the blow on average depositors, with one proposal targeting accounts with deposits above $130,000. The plan elicited an angry response from Russian President Vladimir Putin, whose nation’s oligarchs may have as much as $19 billion secretly deposited in Cyprus banks.

“Putin said that this decision, in case of its adoption, will be unfair, unprofessional and dangerous,” Russian news agencies quoted Kremlin spokesman Dmitry Peskov as saying.

The Brussels-based euro zone agreed on Saturday to give Cyprus a $13 billion bailout, but demanded levies that would take between 6.75 and 9.9 percent of bank deposits.

Analysts believe the measure is designed to ensure that the bailout doesn’t go toward propping up Russia‘s billionaires – including Putin himself.

“It is clear that (Cyprus) is under tremendous pressure from the European Union,” Deputy Finance Minister Sergei Shatalov told Interfax.

The $19 billion figure comes from Moody’s, and would account for as much as half of all Cypriot deposits. Cyprus‘ bank deposits dwarf by 8-to-1 the gross domestic product of the nation of 1 million, indicating a dangerously oversized banking system stuffed with foreign cash. And Cypriot banks are invested heavily in Greek government bonds, which were restructured last year at the EU‘s demand, incurring big losses on bondholders.

News of the coming bank accounts seizure sent shockwaves rippling through Europe and beyond. Not only did it spook wealthy foreigners who have long parked money in the island nation’s banks, it was seen as possibly setting the stage for similar grabs in bigger nations within the troubled euro zone.

“If I were a saver, certainly in Spain or maybe Italy, I think I’d be looking askance at these measures and think this could yet happen to me,” Peter Dixon, global financial economist at Commerzbank, told Reuters.

The Cypriot Parliament put off a vote on the measure until Tuesday in order to blunt the pain for small savers. But without the EU bailout, Cyprus would be headed for default, according to experts. If depositors – especially the foreigners who have made Cyprus the Cayman Islands of Eastern Europe, pull their money from banks, action by the European Central Bank may be all that can stop regional contagion. The Cypriot central bank announced all banks will remain closed until Thursday while talks on the savings seizure continue.

Russian mining tycoon and owner of the NBA’s Brooklyn Nets Mikhail Prokhorov said euro zone leaders “had set a real financial mine under the idea of a single Europe.”

“And this is not because it touches Russian business, which can afford to lose $2 [billion] or $3 billion,” Prokhorov told the Kommersant business daily. “The European Union essentially opened a Pandora’s box.”

Some analysts say the move could send …read more
Source: FULL ARTICLE at Fox World News

2013 Media for Liberty Award Honors Vanity Fair's "The Wrath of Putin" by Masha Gessen

By Business Wirevia The Motley Fool

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2013 Media for Liberty Award Honors Vanity Fair’s “The Wrath of Putin” by Masha Gessen


Award-winning story tells of the authoritarian rule of Russian President Vladimir Putin by uncovering the background of his complicated conflict with Mikhail Khodorkovsky, once Russia’s wealthiest man, but now imprisoned in Russia

ENGLEWOOD, Colo.–(BUSINESS WIRE)– Liberty Media Corporation (Nasdaq: LMCA, LMCB) today announced that the winning entry for its fourth annual Media for Liberty Award is “The Wrath of Putin,” a story by Masha Gessen that appeared in the April 2012 issue of Vanity Fair magazine.

As described by Vanity Fair, “The Wrath of Putin” uncovers the complicated conflict between Russian President Vladimir Putin and Mikhail Khodorkovsky, once Russia’s richest oligarch. The conflict has led to Khodorkovsky’s imprisonment for almost a decade, the smashing of his empire and fear among his family members. But, he may now be Vladimir Putin’s most dangerous opponent. With in-depth reporting from Moscow and her own personal experience and relationships, Masha Gessen masterfully chronicles the bitter war between “one man’s truth and another’s tyranny.”

“The Media for Liberty Award is about recognizing great works of journalism that capture the connection between economic and political liberty and Masha has written a remarkable and compelling story that embodies the goal of the award,” said John Malone, Chairman of Liberty Media. “On behalf of the jury panel, we congratulate her along with the editors and publishers of Vanity Fair for telling this story and further exposing the challenging nature of the evolution of Russian business and politics and its impact on human rights and freedom.”

“The Wrath of Putin” by Masha Gessen for Vanity Fair magazine will be celebrated at a ceremony hosted by Liberty Media and emceed by John Stossel, host of “STOSSEL” on Fox Business and Fox News contributor, at the Newseum in Washington, D.C.

The Media for Liberty Award is a $50,000 journalism prize that recognizes media contributions that examine the link between economic and political liberty. Print, broadcast and online submissions were judged on criteria including thematic relevance, educational value and relevance to the public discourse.

For more information on the Media for Liberty Award, including past honorees and details regarding eligibility please visit www.mediaforlibertyaward.com

The distinguished Media for Liberty panel represents thought leaders in the …read more
Source: FULL ARTICLE at DailyFinance

Syrian opposition leader: US, Russia can end war

A leading Syrian opposition figure visiting Moscow says that Russia and the United States could act as co-guarantors of a ceasefire in Syria.

Manaf Tlass, a former close confidant of Syrian President Bashar Assad who defected last summer, told the state-run Voice of Russia radio station that Russia could help achieve peace in Syria by backing moderate opposition forces.

Tlass, who held talks with senior Russian officials in Moscow, said he came as part of efforts to negotiate a peace settlement. He added that “Russia has enough political clout to help find a solution.”

Russian President Vladimir Putin expressed a new-found willingness to listen to Western arguments for solving the crisis after meeting his French counterpart, Francois Hollande, on Thursday. Over 70,000 people have died in the two-year conflict.

…read more
Source: FULL ARTICLE at Fox World News

Russia Gets Tough New Smoking Law

By Rob Quinn Life is about to get tougher for smokers in a country with one of the world’s highest rates of tobacco use. Russian President Vladimir Putin has signed tough new anti-smoking measures into law, banning smoking in workplaces, restaurants, long-distance trains, and other public places like beaches and playgrounds, the BBC …read more
Source: FULL ARTICLE at Newser – Home

Putin's idea to house Jewish collections rejected

By Jonathan_So

A U.S.-based Jewish group Thursday rejected Russian President Vladimir Putin‘s suggestion to house disputed historical collections of books and documents at a Jewish museum in Moscow.

Nathan Lewin, a lawyer for the Jewish group Chabad, said in a statement provided to The Associated Press that Chabad is the rightful owner and Putin’s proposal is not acceptable.

Source:
AP

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Putin's idea to house Jewish collections rejected

Date:
12-21-13

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Source: FULL ARTICLE at History News Network – George Mason University

Norilsk Requests Waiver of Russian Export Duties – Report

Vladimir Potanin, the newly appointed chief executive of the world’s largest producer of nickel and palladium, Norilsk Nickel (GMKN.RS), has written to Russian President Vladimir Putin asking the government to waive export duties worth $500 million annually, Kommersant reported.
Source: FULL ARTICLE at Fox Business Headlines

Utah family reportedly adopted Russian girl days before Putin signed ban

A Utah family reportedly adopted a 4-year-old Russian girl with Down syndrome just days before Russian President Vladimir Putin signed a bill banning Americans from adopting Russian children — presumably making the girl, Hazel, one of the last of those now-banned adoptions.

Heather and Jeremy Fillmore welcomed Hazel into their American Fork home only an hour before Christmas began, the Deseret News reports. It took about 11 months for the Fillmores to bring the girl home from Russia prior to her arrival at Salt Lake City International Airport.

“It’s been tough, but worth it, and to have her here and be part of our family, it’s now great,” Jeremy Fillmore told the newspaper. “We feel like we’re complete and we’re excited to have her.”

The Fillmores found Hazel through a website that advocates for children with special needs called Reece’s Rainbow Down Syndrome Adoption Ministry. She was the family’s second girl they adopted from Russia via the website. Anya, now 7, was adopted in March 2011, the newspaper reports.

Other families approved for adoption are currently undergoing a 30-day waiting period and it’s unclear how Russia‘s ban will affect those cases.

“It takes months and months to gather all the paperwork, and you turn it in to them and they are kind of on their own timetable,” Heather Fillmore told the newspaper. “We went on our first trip in May and didn’t return for court until November, and it was because the judge was on a vacation for a lot of the time.”

If the ban does goes forward, children with special needs in the country will have little hope, the Fillmores said.

“It’s just sickening,” Heather Fillmore told Deseret News. “I don’t even want to believe that it can happen because it’s very personal to us. We know many families who are in the process to go to save these children from a horrible life. It just doesn’t make any sense that the children are the ones that are suffering because of retaliation in politics.”

It was not immediately clear when Russia‘s new law would take effect, but presidential spokesman Dmitry Peskov was quoted by the Interfax news agency as saying “practically, adoption stops on Jan. 1.”

Children’s rights ombudsman Pavel Astakhov said 52 children who were in the pipeline for U.S. adoption would remain in Russia.

The bill has riled Americans and Russians who claim it victimizes children to make political statements, cutting off a route out of frequently dismal orphanages for thousands.

“Our unlucky children, our orphans are suffering because they became small change in a political game between two states. This is immoral, this is cannibalism,” veteran human rights campaigner Lyudmila Alexeyeva was quoted as saying by the state news agency RIA Novosti.

Vladimir Lukin, head of the Russian Human Rights Commission and a former ambassador to Washington, said he would challenge the law in the Constitutional Court.

UNICEF estimates that there are about 740,000 children not in parental custody in Russia while about 18,000 Russians are on the waiting list to adopt a child. The U.S. is the biggest destination for adopted Russian children — more than 60,000 of them have been taken in by Americans over the past two decades.

The Associated Press contributed to this report.

Click for more from Deseret News.

Source: Fox US News

Putin signs bill banning Americans from adopting Russian children

In a spiteful move reminiscent of the Cold War era, Russian President Vladimir Putin on Friday signed a bill banning American families from adopting Russian orphans, apparently in retaliation for U.S. criticism of his nation’s human rights record.

The law blocks dozens of Russian children expected to be adopted by American families from leaving the country and cuts off one of the main international routes for Russian children to leave often dismal orphanages. Russia is the single biggest source of adopted children in the U.S., with more than 60,000 Russian children being taken in by Americans over the past two decades.

The U.S. State Department previously expressed deep concern about the Russian measure.

Spokesman Patrick Ventrell said late last week that American families over the past two decades “have welcomed more than 60,000 Russian children into American homes.”

“The welfare of children is simply too important to be linked to political aspects of our relationship,” Ventrell said.

U.S. Ambassador to Russia Michael McFaul also said last week that the bill would “link the fate of orphaned children to unrelated political issues.”

He noted that the two nations had already struck an agreement to improve safeguards to protect adopted Russian children, and said “it is unfortunate that now the Duma has apparently decided to take away these negotiated safeguards and ignore the hard work and negotiations on both sides that went into putting this agreement together.”

The bill is retaliation for an American law that calls for sanctions against Russians deemed to be human rights violators and part of an increasingly confrontational stance by the Kremlin against the West.

Putin said U.S. authorities routinely let Americans suspected of violence toward Russian adoptees go unpunished — a clear reference to Dima Yakovlev, a Russian toddler for whom the bill is named. The child was adopted by Americans and then died in 2008 after his father left him in a car in broiling heat for hours. The father was found not guilty of involuntary manslaughter.

Putin indicated that he would endorse the measure Thursday.

“I still don’t see any reasons why I should not sign it,” he told a televised meeting. He went on to say that he intended to sign it.

UNICEF estimates that there are about 740,000 children without parental custody in Russia, while only 18,000 Russians are now waiting to adopt a child. American adoption advocates say the move sentences untold numbers of Russian kids to a childhood without loving parents.

“Over the last 20 years 60,000 children have been adopted from Russia,” said Lauren Koch, spokeswoman for the National Council for Adoption. “If this bill is enacted, this means that tens of thousands of children will languish in orphanages.

“As you know this bill is in response to a human rights bill that President Obama signed,” Koch continued. “But really what they are doing is creating another human rights issue. Those children deserve the hope and promise of a loving family.”

The U.S. State Department says it regrets the Russian Parliament‘s decision to pass the bill, saying it would prevent many children from growing up in families

Critics of the bill have left dozens of stuffed toys and candles outside the parliament’s lower and upper houses to express solidarity with Russian orphans.

Children rights ombudsman Pavel Astakhov on Wednesday said that 46 children who were about to be adopted in the United States would remain in Russia in case the bill comes into effect. On Thursday, he petitioned the president to extend the ban to other countries.

“There is huge money and questionable people involved in the semi-legal schemes of exporting children,” he tweeted.

The Associated Press contributed to this report

Source: Fox US News

Putin Offers Depardieu Russian Passport – And A Low, Flat Tax Rate

By Kelly Phillips Erb, ContributorVladimir Putin – World Economic Forum Annual Meeting Davos 2009 (Photo credit: World Economic Forum) Gerard Depardieu might be bidding “Au revoir!” to France this year but Russian President Vladimir Putin is hoping that Depardieu will consider saying “привет.” The Russian President has offered the French actor a Russian passport. Putin, apparently […]
Source: Forbes Latest

Clashes ease at Damascus Palestinian refugee camp

Days of intense fighting in a Palestinian refugee camp subsided on Thursday and some of the more than 100,000 residents who fled the violence in the capital Damascus began to trickle back, activists and officials said.

In Moscow, Syria‘s most important international ally, Russian President Vladimir Putin, said he is not preoccupied much with the fate of President Bashar Assad‘s regime and knows changes in the country are needed.

It was another blow to the regime from its most important international ally, coming just a week after Russia‘s top envoy for Syria was quoted as saying Assad’s forces were losing control of the country. Although the Foreign Ministry backpedaled on that statement, analysts have suggested for months that the Kremlin is resigned to losing its longtime ally.

“We are not preoccupied that much with the fate of the Assad regime; we realize what’s going on there and that the family has been in power for 40 years,” Putin said. “Undoubtedly, there is a call for changes.”

In Damascus, where rebels are posing an increasing challenge in Assad’s seat of power, fighting has been raging for days in the Yarmouk refugee camp. It began when pro- and anti-regime elements within the camp began clashing a week ago.

More than two-thirds of the roughly 150,000 Palestinian residents have fled the camp since last week when the fighting flared up, according to the U.N. Relief and Works Agency for Palestine Refugees. They sought shelter in the outskirts of the camp, in other parts of Damascus or other cities, or headed to the Syrian-Lebanon border, it said.

Hundreds trickled back on Thursday. One of the first people to return was Zeina Abbas, 42, who fled to Damascus. She said by telephone that nearly 1,000 people return to their homes and added that that she saw rebels in the streets.

“I saw damage in Yarmouk street,” said the woman referring to one of the main streets in the camp. Abbas added that she saw gunmen leaving parts of the camp after speaking on their cell phones.

Tens of thousands fled the camp over the past few days amid fears that government troops could launch a new offensive to cleanse the area of opposition fighters.

The Britain-based Syrian Observatory for Human Rights said Yarmouk was quiet on Thursday and that “hundreds of people have returned.”

Damascus-based Palestinian official Khaled Abdul-Majid told The Associated Press that Cairo-based Palestinian leaders were mediating to get the remaining rebels out of Yarmouk. The rebels entered Yarmouk over the past week to support anti-regime Palestinian residents fighting government loyalists.

Abdul-Majid said the exiled leader of the Palestinian group Hamas, Khaled Mashaal, and Islamic Jihad leader Ramadan Abdullah Shallah are taking part in the mediation by phone from Cairo.

“There are no guarantees from the gunmen,” said Abdul-Majid. He added the rebels should pull out to the southern Damascus neighborhoods of Hajar Aswad and Yalda, where they came from.

The rebel offensive in the camp, which began Friday, was aimed at driving out pro-government Palestinian gunmen of the Popular Front for the Liberation of Palestine-General Command (PFLP-GC). Several Syria-based Palestinian factions called on Palestinians who fled to return to the camp in a statement Thursday saying “it will be a safe area.”

When the revolt against Assad’s rule began in March 2011, the half-million-strong Palestinian community in Syria stayed on the sidelines. But as the civil war deepened, most Palestinians backed the rebels, while some groups — such as the PFLP-GC — have been fighting alongside the troops. The group is led by Ahmed Jibril, Assad’s longtime ally.

Syria‘s conflict started 21 months ago as an uprising against Assad, whose family has ruled the country for four decades. It quickly morphed into a civil war, with rebels taking up arms to fight back against a bloody crackdown by the government. According to activists, at least 40,000 people have been killed in the past 21 months.

In Moscow, Putin said Russia wants to see a settlement that would “prevent the country from breakup and an endless civil war.” Agreements based on a military victory can’t be effective.”

Russia has repeatedly blocked international attempts to step up pressure on the Assad regime as it fights an increasingly successful opposition. That has brought substantial criticism of Russia as effectively supporting the regime, but Russia has said its stance isn’t aimed at propping up Assad.

A new U.N. human rights report said Syria‘s civil war is increasingly turning into a sectarian conflict pitting majority Sunni rebels against government forces supported by the country’s religious and ethnic minorities.

Sergio Pinheiro, who heads an independent commission investigating abuses, said the bulk of the victims of the nearly 2-year-old war were civilians, and blamed both sides for abuses including torture and illegal executions.

Activists reported more violence in Damascus and Aleppo, the country’s largest city, where the Observatory said rebels are trying to capture an air defense base on its northern edge. Rebels have captured several military bases near Aleppo and Damascus over the past weeks.

The Observatory also reported that rebels attacked a security building in the Damascus neighborhood of Kfar Souseh with mortar rounds. The group also said that rebels captured a military post in the Damascus western suburb of Rankous on the border with Lebanon.

The Observatory said there is heavy fighting between troops and rebels attacking army checkpoints in the town of Morek on the highway linking Damascus to Aleppo. If rebels take the town, they will be able to cut supplies to northern Idlib province, it said.

Source: Fox World News