V Norwegian-Russian Business Forum was organised in Oslo on 26 October

Norwegian-Russian Chamber of Commerce (NRCC) and the Chamber of Commerce and Industry of the Russian Federation (CCI of Russia) thank all the participants of the V Norwegian-Russian Business Forum (V NRBF) held on 26 October in Oslo! The event gathered 240 representatives of Russian and Norwegian companies and organizations, as well as public officials from both countries.

This is the 5th consecutive NRBF that has been organised. NRBF is a unique framework for discussing the most important issues of the Norwegian-Russian business cooperation with participation of authorities and business representatives. It is the leading business arena where Norwegian and Russian companies and organizations can present their projects, exchange experiences, meet partners and establish contacts. 

Norwegian and Russian representatives from government institutions oficially opened the Forum, followed up by interventions by high-level business experts from Norway and Russia. At the end of each parallel session participants took part in lively panel discussions with the speakers of the Forum.  

Russian Economic Developments - №10 - 2016

10.2016-cover.engExperts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №10, 2016. 

Core themes of the issue:

- Reversing the slump. Macroeconomic forecast for 2016-2018

- Rates, risks and M2: factors affecting the rate of inflation

- Dynamics of bad debts: has peak been reached?

- Prices on gasoline in Russia and abroad: comparative analysis

- Free trade zone between Eurasian Economic Union and Socialist Republic of Vietnam comes into force

- The review of legislative initiatives as regards taxation issues in Q2 2016

Download Russian Economic Developments - №10 - 2016 

Russia Macro monthly report by Chris Weafer, Senior Partner at Macro-Advisory Ltd in Moscow

weafer Photo 13

Are hopes for higher oil price wishful thinking or the new reality?

The World Energy Congress is currently taking place in Istanbul (10-13 October). President Putin is expected to attend the opening day session and is expected to give verbal support to the notion of an oil production freeze. This may provide some additional short-term oil price support. But Russia will not/cannot commit to a reduction in oil output. Neither will the Iranians and most other OPEC producers. That burden can only fall to the Saudi and, to a lesser extent, the UAE and Kuwait. In reality, the notion of a cut mostly shouldered by Saudi Arabia is a non-starter while a production freeze can, at best, only support the price of Brent at around US$50 per barrel. That is because any higher price will see the return of some of the 500,000 barrels of US shale oil which has been cut since late last year and make it easier for Iran to attract some of the billions of dollars it now needs to boost oil output further.

Russia breakfast meeting with Helge Blakkisrud was held on 26 September

Norwegian-Russian Chamber of Commerce (NRCC) and Confederation of Norwegian Enterprise (NHO) had a pleasure to invite their members to Russia Breakfast Meeting with Helge Blakkisrud, Senior Research Fellow, Head of the Research group on Russia, Eurasia and the Arctic at the Norwegian Institute of International Affairs. The meeting took place at NHO facilities.

The topic of the meeting was "Duma elections in Russia 2016: Results and Consequences". The Russian Federation held its elections for the seventh convocation of the State Duma, its lower house of parliament, on 18 September. Only four political parties managed to win seats in the Duma, among them pro-Kremlin political party United Russia (54,2%), The Communist Party (13,3%), far-right Liberal Democratic Party (13,1%), and A Fair Russia party (6,2%). The results significantly strengthen the United Russia's dominance in the Duma and reinforce President Putin’s position ahead of the 2018 presidential elections. Less than a half of Russia's registered voters turned up at polling station in this election.

Helge Blakkisrud discussed the electoral system in Russia and the results of the recent parliamentary elections. He also outlined possible impacts of the elections' results on Russia's political system.

We thank all the participants in the meeting for the interactive communication.

Watch video recording from the meeting (please note that only NRCC members with activated accounts on the NRCC website can access the video recording).

NRCC administration.  

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Russia breakfast meeting with Arild Moe was held on 21 September

Norwegian-Russian Chamber of Commerce (NRCC) and Confederation of Norwegian Enterprise (NHO) had a pleasure to invite their memebrs to Russia Breakfast Meeting with Arild Moe, an expert on Russian petroleum resources in the Arctic and a senior research fellow at Fridtjof Nansen Institute, Norway. The meeting took place at NHO facilities.

The topic of the meeting was "Petroleum development in the Arctic", where Arild discussed prospects for the development of the Arctic offshore and competitiveness of the region, as technology and costs change over time. In addition, environmental concerns have increased the cost of exploration and production in the Arctic - and have influenced political guidlines in the region. Arild Moe underlined that Norwegian-Russian collaboration in the oil and gas sector in the Arctic contunies and has future prospects, even taking into account the current limitations on the Russian shelf because of the sanctions. 

We take this opportunity to thank participants in the meeting for their valuable support for their valuable support, questions and all interactive communication.

Watch video recording from the meeting (please note that only NRCC members with activated accounts on the NRCC website can access the video recording).

NRCC administration.  

IMG 3847  

Arild Moe (FNI) 

Russian Economic Developments - №9 - 2016

9.2016-cover.engExperts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №9, 2016. 

Core themes of the issue:

-  Russian industry in H1 2016: zero dynamics;

-  Business fixed investment in H1 2016;

-  Adaptability index in Q3 2016: all-time high for monitoring years;

-  Russian regions: ongoing slow rolling crisis;

-  The real estate market in the Russian Federation in H1 2016;

-  Russia in global exports: 2015-2016;

-  Russian food embargo: minor losses in western countries;

-  Bank of Russia liquidity management of the banking sector: observations based on the past three years’ experience;

-  The effect of renewable energy sources on the global power industry;

-  The raise of excise tax rates will hamper the tax manoeuvre.

Download Russian Economic Developments - №9 - 2016 

Russian Economic Developments - №8 - 2016

8.2016-cover.engExperts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №8, 2016. 

Core themes of the issue:

- Balance of payments: January–June 2016;

- Regional budgets: debt reductions amid austerity;

- Banking sector: state banks generate all profit;

- Pass-through effect: rise in prices in Q3 will slow down;

- Russian industry in June 2016 (based on data obtained from business surveys conducted by Gaidar Institute); 

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