Poland’s trade agency to open 50 offices abroad

NYC, USA (Jörg Schubert, CC BY)

Gazprom’s Dutch assets frozen

The US investors will complete deals in Russia

Poland

The Polish Radio informs that the Polish Investment and Trade Agency (PFR Group) plans to open over 50 offices around the world by the end of August 2018. The offices will be located in Seoul, Baku, New York, Addis Ababa and Moscow.

According to its website, the agency’s mission is to create a positive image of Poland across the world, promoting Polish goods and services. The agency’s aim is also to attract foreign investors to enter the Polish market.

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Ukraine

A Dutch court has frozen Gazprom’s stakes in its Dutch subsidiaries and any debts owed by these subsidiaries to the Russian gas giant, Naftogaz, the Ukrainian oil and gas company said in a statement. This is the result of a the decision of the Stockholm Arbitration, adopted in February 2018 (read more).

Interfax quotes Naftogaz’ statement: “A Dutch court approved the petitions; however, six out of seven of Gazprom’s Dutch subsidiaries have refused to cooperate with the bailiffs. This does not affect the validity of the attachments”.

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Russia

The US Department of Treasury extended the deadline for completion of transactions with En+ and Eurosibenergo until October 23rd, 2018, instead of June 5th.

In April, the US authorities introduced new sanctions against a number of Russian officials, businessmen and companies. As Russian agency Tass reports that these sanctions meant frozen assets in the US and ban on American citizens preventing them from doing any business with these companies.

The US said that they are ready to lift sanctions imposed on the aluminum producer, if Deripaska relinquishes part of his assets and control of the company. Deripaska, in turn, announced he was ready to reduce its stake in the largest shareholder of Rusal, En+, below 50 per cent. Currently the businessman controls 48.13 per cent of Rusal through En+, in which he owns 66 per cent.

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What’s up in indexes

BET (of Bucharest) increased from 8,070.17 index points Thursday, May 31st to 8,093.25 index points Monday, June 4th. It’s up 0.29 per cent d/d and down 7.05 per cent y/y.

BUX (of Budapest) increased from 35,952.68 index points Friday, June 1st to 37,194.37 index points Monday, June 4th. It’s up 3.45 per cent d/d and up 6.49 per cent y/y.

CROBEX (of Zagreb) decreased from 1,846.38 index points Friday, June 1st to 1,838.84 index points Monday, June 4th. It’s down 0.41 per cent d/d and up 2.17 per cent y/y.

OMXR (of Riga) increased from 1,044.19 index points Friday, June 1st to 1,046.03 index points Monday, June 4th. It’s up 0.18 per cent d/d and up 22.02 per cent y/y.

OMXT (of Tallinn) decreased from 1,251.44 index points Friday, June 1st to 1,243.98 index points Monday, June 4th. It’s down 0.60 per cent d/d and up 10.87 per cent y/y.

OMXV (of Vilnius) decreased from 712.84 index points Friday, June 1st to 710.02 index points Monday, June 4th. It’s down 0.40 per cent d/d and up 19.76 per cent y/y.

PX (of Prague) decreased from 1,081.04 index points Friday, June 1st to 1,080.00 index points Monday, June 4th. It’s down 0.10 per cent d/d and up 7.15 per cent y/y.

SAX (of Bratislava) increased from 330.54 index points Friday, June 1st to 334.24 index points Monday, June 4th. It’s up 1.12 per cent d/d and up 8.90 per cent y/y.

SOFIX (of Sofia) increased from 637.89 index points Friday, June 1st to 638.33 index points Monday, June 4th. It’s up 0.07 per cent d/d and down 5.26 per cent y/y.

UX (of Kyiv) decreased from 1,676.77 index points Friday, June 1st to 1,669.82 index points Monday, June 4th. It’s down 0.41 per cent d/d and up 66.79 per cent y/y.

WIG20 (of Warsaw) increased from 2,190.26 index points Friday, June 1st to 2,210.10 index points Monday, June 4th. It’s up 0.91 per cent d/d and down 2.90 per cent y/y.

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