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Russia and the EU

Latest business news about Russia and the European Union.

Court upholds EU sanctions against Russian banks
The General Court of the EU upheld Thursday restrictive measures taken by the EU Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine.

Russia loses WTO claims against EU energy policy
Russia lost most of its claims against EU energy policy measures at the World Trade Organisation Friday, over alleged incompatibility of the EU's third energy package with the multilateral trade rules.

EU extends sanctions against Russia over Crimea
EU ministers decided to extend sanctions against Russia for another year Monday, as the EU continued to punish Russia for the illegal annexation of Crimea and Sebastopol.

No fine for Gazprom as EU settles antitrust dispute
The EU Commission settled its antitrust dispute with Russia's Gazprom Thursday, imposing conditions on the state-controlled energy giant to enable free flow of gas 'at competitive prices' in east European gas markets.

Russian duties on EU vans illegal, WTO confirms
The WTO has dismissed Russia's appeal and upheld EU arguments in the dispute on the anti-dumping duties imposed by Russia in 2013 on imports of European light commercial vehicles (LCVs).

"Highly likely" Russia behind UK attack: EU summit
At a summit in Brussels, EU leaders condemned Russia Thursday for the recent nerve agent attack in Britain, agreeing to coordinate their response "in the light of the answers provided by the Russian authorities".

New EU gas rules could staunch Russian pipeline
Changes to the Gas Directive proposed Wednesday to ensure that all major gas pipelines entering EU territory comply with EU rules could prove an obstacle to the Russian-backed Nord Stream 2 project.

EU extends sanctions on Russia for another six months
The EU Council agreed a formal extension of economic sanctions on Russia Wednesday, targeting specific sectors of the Russian economy Wednesday, until 31 January 2018.

Brussels seeks mandate to negotiate with Russia on Nord Stream 2
The European Commission asked EU Member States Friday for a mandate to negotiate with the Russia the key principles for the operation of the Nord Stream 2 gas pipeline project.

EU Court upholds sanctions against Russia's Rosneft
The European Court of Justice on Tuesday declared valid EU sanctions against Russian companies in response to the crisis in Ukraine, including Rosneft, the state-owned Russian oil giant.

Russian pork ban illegal, WTO confirms
Russia's 2014 import ban on live pigs, pork and other pig products from the European Union violates international trade rules, the World Trade organization's Appellate Body confirmed on Friday.

Russian import duties on German, Italian vans illegal, rules WTO
Anti-dumping duties on vans imported from Italy and Germany, introduced by Russia in 2013, were declared illegal by a World Trade Organization panel saying the duties hindered exports of the vehicles.

EU formally extends sanctions against Russia
The European Union prolonged economic sanctions targeting specific sectors of the Russian economy by a further six months on Monday, continuing its response to the crisis in Ukraine.

WTO rules Russian EU pork ban illegal
Russia's import ban on live pigs, fresh pork and other pig products from the EU was declared illegal by the World Trade Organization Friday in the light of international trade rules.

EU slaps anti-dumping duties on Chinese, Russian steel
The European Union slapped anti-dumping duties on 'cold rolled steel' from China and Russia on Thursday, with the stipulation that they should remain in place for five years.

Gas Interconnector Poland-Lithuania
An agreement on the first pipeline connecting Poland and Lithuania was signed on 15 October by the European Commission and the Baltic states. The first gas interconnector between Poland and Lithuania will end the long lasting isolation of the Baltic Sea region and bring the energy needed for a new economic dynamism to the region.

Extension of safety net measures for dairy, fruit and vegetables
Safety net measures for the European dairy, fruit and vegetables sectors will be extended into 2016. The European Commission says it is currently finalising the last details with a view to formally adopting the relevant legal decisions in the coming weeks as a matter of formality.

Gazprom: European Commission Statement of Objections
The European Commission has sent a Statement of Objections to Gazprom alleging that some of its business practices in Central and Eastern European gas markets constitute an abuse of its dominant market position in breach of EU antitrust rules.

EU sanctions against Russia impact on reported restructuring job losses in Europe - Eurofound ERM Quarterly
Dramatic recent oil price declines have seen deflation take hold in the EU. General price levels in December 2014 were 0.2% lower than a year earlier. This is further evidence of a tentative European economic recovery that appears to be running out of steam. Growth forecasts for the EU have been trimmed to 1.1% in 2015 after growth failed to reach even 1% in 2014. This issue includes: Macroeconomic trends and prospects; Job creation and job loss at a glance (1/10/14 - 31/12/14); Sectoral distribution of job losses/job gains, and top five cases; Case in focus: Lloyds Banking Group and branch banking; Situation in focus: Restructuring arising from Russian sanctions; Restructuring support measures in focus: public employment incentives.

Ukraine - Russia gas deal
A 4.6 billion dollar winter package was agreed at a Ukraine - Russia meeting brokered by the EU on 30 October, which secures gas for Ukraine - and ultimately also for Europe.

EUR 165m package for perishable fruit & vegetable market support
The European Commission adopted on 30 September a new programme for emergency market measures for perishable fruit & vegetables in the wake of the Russian ban on imports of certain EU agricultural products.

Potential impact of the Russian measures against EU agricultural products
On August 7, 2014, Russia announced the introduction of an import ban, applicable from August 8, on certain meat, dairy, fruit, vegetable and processed food products from the EU, USA, Canada, Australia and Norway. This guide addresses issues relating to these measures.

Cooperating against VAT Fraud
As part of an intensified battle against tax fraud, the European Commission on 6 February 2014 launched the process to start negotiations with Russia and Norway on administrative cooperation agreements in the area of Value Added Tax (VAT). The broad goal of these agreements would be to establish a framework of mutual assistance in combating cross-border VAT fraud and in helping each country recover the VAT it is due. VAT fraud involving third-country operators is particularly a risk in the telecoms and e-services sectors. Given the growth of these sectors, more effective tools to fight such fraud are essential to protect public budgets. Cooperation agreements with the EU's neighbours and trading partners would improve Member States' chances of identifying and clamping down on VAT fraud, and would stem the financial losses this causes. The Commission is therefore asking Member States for a mandate to start such negotiations with Russia and Norway, while continuing exploratory talks with a number of other important international partners.

Russo-British Chamber of Commerce
Business news and investment information about Russia and the Russian economy

Starting a business in Russia
This World Bank site provides information about the procedures and costs associated with starting a business in Russia.