Russian Economic Developments - №1 - 2016


Experts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №1, 2016.

Core themes of the issue: Main political and economic events of December 2015 - Russia’s forex market: no panic outlook - Russian financial markets in December 2015 - Russia’s State Budget in January-November 2015 - Russia’s banking sector in November 2015 - Russia’s real sector of the economy in November 2015: factors and trends - Russian industry: optimistic tragedy - Russian metallurgy: the Rouble weakness alone does not suffice any longer 
- Russia’s foreign trade in October 2015 - Export-import: era of stagnation - Mortgage in the Russian Federation in November 2015 - Population’s income and consumer crediting is in the red - The review of the meetings of the Government of the RF in December 2015 - Changes in the regulatory base of the budgetary process in the December 2015 - The review of regulatory documents on taxation issues in November-December 2015.

Download Russian Economic Developments - №1 - 2016

Elnar Seljevold passed away at the age of 81.

Elnar Seljevold

It is with great sorrow that we received the news; Elnar Seljevold has put down his pen for the last time.

From 1955 till 1969 Seljevold worked as interpreter and assistant for Norwegian Border Commissioner, and took an active part in the development of Norwegian-Soviet relations. In 1965-1966 he became Director of Nordhandel AS, a trading company which existed to 1973 when the company was formally closed down. The initiative was the first attempt to develop traditional trade across the Norwegian – Soviet border in the High North. From 1977 till 1980 Elnar Seljevold worked as correspondent of the Norwegian Broadcasting Corporations (NBC) in Moscow, and from 1988 to 1990 Managing Director of NBC Ostfold.

Norwegian-Russian Business Journal №3, 2015 (in English with Russian summaries)

NRBJ 3 cover

The Norwegian-Russian Business Journal is the member journal for NRCC members, where subjects of relevance to the economic cooperation between Russia and Norway are discussed.  

The newest issue was published in December 2015 and contains articles about activities of NRCC and its member companies, recent developments and updates on Russian and Norwegian markets and news from Norwegian and Russian business communities.

Please download here Business Journal in pdf format.

Russian Economic Developments - №12 - 2015

12 2015 cover eng

Experts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №12, 2015.

Core themes of the issue: Main political and economic events of November 2015 - Inflation and monetary policy in October 2015 - The RF central bank’s course is to achieve medium-run stability - Financial markets in October 2015 - Russia’s state budget in January-October 2015 - Regional budgets: tightening our belts - Regional social expenditures: a country of contrasts - Russia’s banking sector in October 2015 - The banking sector: economies of scale afoot - GDP growth rate in 2015-2016: what its decomposition speaks of - The real sector of the economy in October 2015: factors and trends - Russian industry in October 2015 - ‘‘Import preservation’’ in lieu of import substitution - Commodity turnover: a delayed fall - Fixed capital investment in January-September 2015 - Mortgage in the Russian Federation in October 2015 - Russia’s foreign trade in September 2015 - Export-import: a nearly simultaneous drop - Russia’s import ban on Ukrainian foods: magnitude and implications - The review of meetings of the Government of the Russian Federation in November 2015 - The review of regulatory documents on taxation issues in October-November 2015 - The review of economic legislation in October 2015 - Changes in the regulatory base of the budgetary process in October-November 2015 - Higher-education teaching personnel wages: main trends - Migrants are losing interest in Russia - Self-regulatory organizations in the financial marketplace - The North Caucasus: land conflicts in the cities hinder the implementationof th e socioeconomic development strategy - Specific features of Russia’s integration in global and regional value chains - Old and new in the statistics of the Ministry of Defense.

Download Russian Economic Developments - №12 - 2015

NRCC Christmas Event 2015


On 9 December the NRCC has gathered many guests for traditional Christmas Event, which took place at Telenor’s facilities in Fornebu. The evening started with gloegg and networking session, followed by Christmas Meeting. Special invited guest speaker from Moscow, Mr. Andrey Krivorotov, Head of Department of Corporate relations at Shtokman Development AG, opened the meeting this year with the presentation “Arctic offshore development: Global challenges and bilateral prospects. Norway and Russia in the North: How to maintain momentum?”. The other guest speaker, Mr. Halvor Tjønn, introduced his new book ”The making of Russia. How the Russian state was created and how it developed through the first 700 years”.

Next, Communications Manager from the NRCC Rune Methi has shown the highlight of the Chamber’s activities in his presentation “NRCC - year 2015 in review”.

NRCC cross cultural understanding award 2015 was presented to Mr. Igor Kopsov,Region Manager for Russia from Technip company. He was rewarded for outstanding contribution over the years by social entrepreneurship and enhancement of knowledge to the benefit of members of the Norwegian-Russian business community.

For the rest of the evening the guests enjoyed traditional Norwegian buffet-dinner with Russia and Norway inspired entertainment and quiz. 

IMG 5965

NRCC & GCE Blue Maritime Russia Seminar in Ålesund:  Market opportunities for the maritime industry  in the Russian Market

On 3 December the NRCC in cooperation with Global Center of Expertise - Blue Maritime organized a seminar "Market opportunities for the maritime industry in the Russian Market ". A solid number of 40 companies took part in the event at Aalesund University College in Ålesund. 

News portal about economics and business in Sunnmøre and Nordfjord districts ( took two interviews with participants of the seminar: Rolf Fiskerstrand, Managing Director of Fiskerstrand Holding AS, and Rune Methi, Communications Manager of NRCC. Interviews are in Norwegian.

Article on oil prices with comments by Chris Weafer


We offer to your attention oil price article (from 03.12.2015) with clear and negative ruble implications over the medium term. The article includes comments by Chris Weafer, Senior Partner at Macro-Advisory Ltd in Moscow.

It is considered that Brent will most likely dip below $40 in the coming weeks and be weaker in Q1. That implies the ruble-dollar rate will test the 70 level this month and drop closer to 75 in Q1. Just a year ago, the Organization of the Petroleum Exporting Countries decided to let market forces determine the price of oil, rather than its own production quotas. Please read more in the full version. 


The aim of the NRCC is to stimulate and improve business relations between Norwegian and Russian companies regarding import, export, shipping, business development, tourism or investment activities. More...


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