June 2020 | ISSUE No. 274| USRCC Business Newsletter

The U.S.-Russia Chamber of Commerce and USRCC Young Professionals Committee invite you to attend The 4th Annual Senior Executive Knowledge Sharing Series Live Webinar with WILLIAM MARSH,  Chief Legal Officer & Board Member

This live webinar will allow you : •      to adopt the best practices from the high-level Executive; •      to discuss the strategies to build a successful career; •      to talk about integration of technologies, future of the workplace, new ways of doing business. Join this engaging opportunity to discussion and learn how to improve your skills, knowledge, and attitude to reach your personal and professional goals and advance your career!

Will Marsh  was the Chief Legal Officer at Baker Hughes since the merger of Baker Hughes with the GE Oil & Gas business in 2017 through April 2020.  Prior to his that, Marsh served as Vice President and General Counsel of Baker Hughes Incorporated starting in February 2013. Marsh joined Baker Hughes in 1998 and has served in various executive, legal, compliance and corporate roles, including Vice President of Legal, Western Hemisphere from May 2009 to February 2013 and Director of Enterprise Risk Strategies from March 2006 to May 2009. Marsh is currently a member of the BJ Services Board of Directors and was formerly a member of the Board of Directors of Peoples Utah Bancorp.  To read the full bio please click  here.

Audience: Young Professionals  Duration:  1 hour (40 minutes presentation and 20 minutes Q&A session). Live Webinar Moderator:  Ilya Aranovich, USRCC YP Committee Chairman, Director Business Strategy - Refining and Gasification, Lummus Technology, McDermott International Inc.

REGISTRATION: Thursday, June 25th, 2020  |    12:00 PM - 1:00 PM

CLICK HERE TO REGISTER

USRCC Members - free/Non-Members - $10 Please note: Refunds will not be issued after June the 23rd, 2020

Please register online at the link above by noon (CST) Tuesday, June 23rd, 2020. After registering, details on how to access the webinar will be provided via email. Please direct your questions for the Q&A session in advance to e.mirodzhi@usrussiacc.org

The U.S.-Russia Chamber of Commerce  Invites You to Attend

The 10th Annual Welcome Reception Honoring Russian and CIS Delegations  to the Breakbulk Americas 2020 Breakbulk Americas has been the established hub for the project cargo and breakbulk industry for more than 30 years. Based in Houston, it hosts more than 5,000 professionals from across the industrial supply chain based primarily in Canada, U.S. and Latin America, including the America’s largest EPCs and oil & gas companies. The conference provides shippers with the opportunity to meet and develop relationships with the leading specialized carriers, forwarders, ports, terminals and packers who have the expertise and resources to handle oversized cargoes with unique handling requirements. U.S.-Russia Chamber of Commerce invites you to join the welcoming Russian and CIS delegations to the  10th Annual Breakbulk Americas Reception . This annual event draws decision makers in U.S.- Russia trade and investment, including senior representatives from major shipping and logistics companies, leaders in the oil and gas industry, government officials, elected officials and more.

Wednesday, November 4, 2020  6:00 PM - 8:00 PM  Four Seasons Hotel, Whitney Room  1300 Lamar Street, Houston, TX 77010 USRCC Members - $30/Non-Members - $60

CLICK HERE TO REGISTER

Please note: Refunds will not be issued after November the 2nd, 2020

For sponsorship opportunities please contact:  The U.S.-Russia Chamber of Commerce 2900 Wilcrest Drive, Suite 133, Houston, TX 77042  Phone:  713.429.4680  Email: info@usrussiacc.org

◾ USRCC Membership

Are you taking advantage of your USRCC Member Benefits? The U.S.-Russia Chamber of Commerce provides a variety of Membership options to fit your business needs and goals. Renew your membership or join for the first time today! For more information   click here

◾ Member's News

Lukoil and Nenets Autonomous District Develop Cooperation Lukoil.com, June 1, 2020: LUKOIL and the Nenets Autonomous District have concluded a supplemental cooperation agreement for 2020. The document sets out major areas of joint activities to promote social and economic development of the region. LUKOIL will provide financial support to sports, cultural and educational initiatives, youth policy projects, patriotic upbringing and preservation of the indigenous culture of the Arctic ethnic groups. Read more...

Long-Term Contract for Gas Supplies to Greece Signed with Mytilineos Gazprom.com, June 1, 2020:   Gazprom Export , a wholly-owned subsidiary of Gazprom, and Greece's Mytilineos S.A. entered into a long-term contract for natural gas supplies. The document was signed by  Elena Burmistrova , Deputy Chairman of the Gazprom Management Committee and Director General of Gazprom Export, and Evangelos Mytilineos, Chairman of the Board of Directors and CEO of Mytilineos S.A. Read more...

Emerson Contributes to The Open Group Open Subsurface Data Universe™ (OSDU) Forum Emerson.com, June 1, 2020:  Emerson announced today that it will contribute reservoir domain software and expertise to the development of The Open Group  Open Subsurface Data Universe ™ (OSDU) Forum. Emerson’s contribution will improve the efficiency of reservoir modelers and reservoir engineers, and enable multi-disciplinary integrated reservoir workflows, including geomodeling and flow simulation, on top of the OSDU™ platform. Read more...

◾ This Week in Review

Russia Prices Economic Recovery Plan at $70Bln Themoscowtimes.com, June 2, 2020:   Russia will launch a 5 trillion ruble ($73 billion) recovery plan next month to offset economic damage from the coronavirus pandemic, Prime Minister Mikhail Mishustin said in a televised meeting with President Vladimir Putin on Tuesday. The program of increased spending will last until the end of 2021 with the aim of bringing Russia’s unemployment rate back below 5% and getting the economy growing at 2.5% a year — faster than any annual expansion since 2012. Read more...

U.S. Senators Move to Tighten Sanctions on Delayed Russia-to-Germany Gas Pipeline Reuters.com, June 3, 2020:   U.S. senators announced a bill on Thursday expanding sanctions on Russia’s Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow’s economic and political influence in Germany and other European countries. Read more...

Russia Reduces Oil Production in May Close to OPEC+ Target Rt.com, June 2, 2020:   Oil and gas condensate production in Russia declined by 15 percent year-on-year in May to 39.7 million tons or 9.39 million barrels per day (bpd), according to Energy Ministry data. The figure is down from 11.35 million barrels per day in April and near Moscow’s target under a deal within the OPEC+ group. Data showed Russia’s natural-gas production decreased by 9.2 percent, year-on-year, in January to May, to 293.26 billion cubic meters. Read more...

Rosneft Sets up New Trading Arm to Replace Sanctioned One Russiabusinesstoday.com, June 4, 2020:   Russia’s Rosneft, which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with the matter said. The new business, Energopole SA, will take on the main functions previously carried out by Rosneft Trading of supplying Russian oil giant Rosneft’s refineries in Germany and some trading operations in Europe, the traders told Reuters. Read more...

Roscosmos, NASA, Other Space Agencies to Discuss Moon Research on June 9 Tass.com, June 5, 2020:   Director General of Roscosmos Dmitry Rogozin and heads of space agencies in the US, Europe, Canada, and Japan will discuss cooperation in the Moon research via video conference on June 9, a source in the rocket and space industry told TASS. "On June 9, a video conference will be held with the participation of Head of Roscosmos and heads of space agencies of the United States, Canada, Europe, and Japan on cooperation in the study of the Moon," the source said. Read more...

Russia Inc is Back in Business: Rebound Now Visible as the Ruble Breaks Below 70 to the Dollar Rt.com, June 4, 2020:  If Russia’s plan was not to panic, keep its powder dry and wait for oil prices to recover, then that plan is working pretty well. The ruble broke back below RUB70 to the dollar this week and was trading at RUB68.48 to the dollar as of the close of trading on June 3. Read more...

Despite SpaceX Success NASA Will Pay Russia $90 Million To Take U.S. Astronaut To The ISS Forbes.com, June 3, 2020:   NASA plans to pay the Russian space agency to launch one of its astronauts—and Russian cosmonauts will likely travel to space from Florida next year. So those that thought the historic SpaceX Crew Demo-2 mission has changed the game should think again. In the days after “Launch America”—when two NASA astronauts went to the International Space Station (ISS) from U.S. soil for the first time in almost a decade, ending NASA’s reliance on the Russian space agency Roscosmos—there’s been a lot of talk about it being a  wake-up call for Russia’s space program  and some  gloating by SpaceX . Read more...

◾ Houston-Tyumen Sister Cities

Tyumen Entered the Top Ten Cities, the Most Recovered from the Effects of the Pandemic Tymentoday.ru, June 4, 2020:   Tyumen took seventh place in the ranking of cities, where the economic activity of citizens is restored most quickly. In a number of cities, she almost returned to the pre-pandemic level. The rating was provided by 2GIS service, Rossiyskaya Gazeta reports. Read more...

◾ CIS Business News

Creating Baikonur Free Economic Zone Will Boost Economy: Kazakh President Russiabusinesstoday.com, June 3, 2020:   T he creation of a free economic zone at the Baikonur spaceport could make a significant contribution to the economy of Kazakhstan and Russia, Kazakh President Kassym-Jomart Tokayev said in an interview with Komsomolskaya Pravda newspaper, as reported by  TASS . Read more...

Belarus Eager to Get Some 1.1m Tonnes of Oil from Russia in June Eng.belta.by, June 2, 2020:   Belarus intends to get about 1.1 million tonnes of oil from Russian companies in June, BelTA learned from Aleksandr Tishchenko, Press Secretary of the Belarusian state petrochemical concern Belneftekhim. The official said: “We look forward to receiving about 1 million tonnes of oil by pipeline and about 80,000 tonnes of oil by rail. About 1.1 million tonnes in total. Shipments from Russia will be virtually identical to those in May.” Read more...

Azerbaijan Approves Tax Benefits to Businesses amid COVID-19 Azernews.az, June 3, 2020:   President Ilham Aliyev has approved the amendments to the Tax Code, providing for tax benefits for businesses amid coronavirus pandemic, the president’s press service reported on June 2. According to the amendments to the Tax Code, starting from January 1, 2020, property and land taxes for hotels and other tourism facilities, activities of tour operators and travel agencies, catering, road passenger transportation within the country, including taxi activities, are fully exempt from payment for a year. Read more...

◾ US-Russia Related News in Russia ◾ Новости недели

«Роснефть» Заинтересовалась Добычей Газа в Арктике Rbc.ru, Июнь 3, 2020:   «Роснефть» в рамках проекта «Восток Ойл» может начать добывать в Арктике не только нефть, но и разрабатывать газовые запасы. Это следует из письма главного исполнительного директора «Роснефти» Игоря Сечина премьер-министру Михаилу Мишустину, в котором он предложил выставить на аукцион три газовых месторождения в арктической зоне. Читать далее...

Сэкономили на Спасении Бизнеса: Какие Меры Попали в Итоговый Антикризисный План Правительства Forbes.ru, Июнь 2, 2020:   Правительство оценило стоимость восстановления экономики, занятости и доходов населения в 7,3 трлн рублей. Это стоимость мер, которые заложены в общенациональный план действий, подготовленный правительством. Во вторник премьер Михаил Мишустин доложит о них президенту. До этого с содержанием документа ознакомились  «Ведомости»  и  РБК . Его подлинность изданиям подтвердил федеральный чиновник. Читать далее...

В ЛУКОЙЛе Дали Прогноз по Цене Нефти в Ближайший Год News.ru, Июнь 4, 2020:   В компании «ЛУКОЙЛ» ожидают, что цена нефти преодолеет отметку в $50 за баррель в ближайшие 1,5–2 года. Об этом сообщил первый вице-президент по экономике и финансам компании Александр Матыцын. Мы не видим причин для изменения нашего стратегического ценового ориентира, который составляет $50 за баррель, и ожидаем, что цена превысит этот уровень на горизонте 1,5–2 лет, — цитирует его ТАСС. Читать далее...

"Опора России" Предлагает Перенацелить Поддержку Экспорта с Крупного Бизнеса на МСП Tass.ru, Июнь 5, 2020:   "Опора России" предлагает перенацелить систему поддержки компаний-экспортеров в стране с крупного бизнеса на малые и средние предприятия (МСП). Об этом сообщил в пятницу глава организации Александр Калинин в ходе онлайн-дискуссии "Вакцина для экономики. Станет ли национальный план действий эффективным рецептом?" на ресурсах фонда Росконгресс. Читать далее...

Снижение ВВП РФ в 2020 Году Может Составить 8% - ЦМАКП Finmarket.ru, Июнь 3, 2020:   Снижение ВВП РФ в 2020 году может составить 8-8,2%, падение инвестиций в основной капитал в районе 19%, а рубль к концу году существенно ослабнуть до уровня около 90 рублей за доллар, пишут экономисты Центра макроэкономического анализа и краткосрочного прогнозирования (ЦМАКП) в своем докладе "О среднесрочном прогнозе развития российской экономики в условиях пандемии коронавируса и возможного кризиса мировой экономики". Читать далее...

Доля Малого и Среднего Бизнеса в ВВП России Будет Расти, Уверен Эксперт Ria.ru, Июнь 4, 2020:   Доля малого и среднего бизнеса в общем ВВП России будет расти, несмотря на коронавирус и возникшие из-за него трудности, рассказал в интервью РИА Новости генеральный директор  центра развития предпринимательства Like  Центр Василий Алексеев. Согласно нацпроекту "Малое и среднее предпринимательство", к 2024 году численность занятых в сфере малого и среднего предпринимательства, включая индивидуальных предпринимателей, должна вырасти до 25 миллионов человек, а доля МСП в ВВП должна достигнуть 32,5%. Читать далее...

GET INVOLVED The USRCC is looking for new team members! Volunteers play a key role and the contributions they make impact the day-to-day functions of the chamber and shape the future of the relationship between Russia and the U.S. There are many ways you can get involved with the USRCC. Whether you are an experienced leader or a student, there is a place for you. By volunteering you can be at the very center of our high-profile events held in Houston, Chicago and New York City and interact with influential leaders in the U.S.-Russia trade and investment. To learn more about the position  click here or contact us directly at info@usrussiacc.org    call 713.429.4680

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U.S.-Russia Chamber of Commerce 2900 Wilcrest Drive Suite 133 Houston, TX 77042 713-429-4680 info@usrussiacc.org http://www.usrussiacc.org

The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not for profit corporation with its headquarters in Houston, Texas, and offices in the Midwest and the Northeast. The USRCC was established in 2009 to promote trade and investment between the Russia n Federation and the U.S.A.   The information contained in this newsletter is provided for general information purposes only and does not constitute legal or other professional advice on any subject matter. USRCC does not accept any responsibility for any loss that may arise from reliance on information contained in this newsletter. The views and opinions expressed in this publication are those of the authors. They do not reflect the opinions or views of the USRCC or its members. Links within this newsletter lead to other websites, including those operated and maintained by third parties. The linked sites are not part of the USRCC newsletter. USRCC includes these links solely as a convenience to the newsletter subscribers, and the presence of such links does not imply a responsibility for the linked site and its operator. USRCC cannot certify the accuracy of the material provided by the original source . Copyright 2017. All Rights Reserved.