Russian Prosecutor General, Yuri Chaika, said that the Russian government lost USD692m as a result of corruption in 2018. According to Ministry of Internal Affairs in 2018, the average bribe was worth RUB451,000 (USD6,485).
On November 19th, 2018, Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan marked the completion of the offshore phase of a gas pipeline linking the two nations from underneath the Black Sea.
Although Sberbank denied information that it plans to acquire a controlling stake in Yandex, Russian tech giant lost more than 20 per cent of capitalization on this news.
The Hungarian government wants to diversify the sources of natural gas imports, with Polish and Croatia terminals supplying the US and Qatari LNG. But its main focus remains Russian gas, as the Turskstream pipeline makes clear.
By the year 2025, up to 80 per cent of Russia’s population will have access to the internet via the 5th generation wireless network (5G), according to a recent Global System for Mobile Communications (GSMA) report.
This year Latvian tax authorities are investigating 131 money laundering cases. Recently, the European Central Bank has decided to increase its supervision of European banks at high risk of money laundering, including Latvian banks.
The Belarusian budget may lose 20 per cent of its annual revenues as a result of the increases of the price of Russian oil. The Russian-Belarusian economic relations are unique in history, but may not last forever.
The sanctions imposed on Russia by the Unites States, Canada, Norway and other Western countries, following the occupation of Crimea, did not in principle prevent the maintenance and expansion of economic relations between Russia and the individual EU member states.
Russian state energy company, Rosatom, treats Hungary as a key market for further European investments through the expansion of the Hungarian Paks nuclear power plant.
Russia’s largest financial institution, the state-owned Sberbank continues to increase its profits by a rapid pace despite the numerous obstacles many Russian banks have been facing.