A Russian court has ordered Volkswagen to pay 16.9 billion roubles ($193 million) in damages to Russian carmaker GAZ Group, which had sued the German automaker over lost profits after Volkswagen exited the Russian market. In May 2023, Volkswagen finalized …
Russia’s second-largest oil producer Lukoil has bought into insurance company GARDIA, a former subsidiary of AIG, one of the world’s biggest commercial insurers, GARDIA said earlier this week. (Editor’s note: Reuters included a note with this article saying: “This content …
Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data remained safe. State-owned VTB …
MOSCOW – Russian e-commerce company Ozon said on Thursday it was still assessing the economic damage from a huge fire at its warehouse near Moscow, but that there were no significant risks to its liquidity and operational activities. At least …
State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western sanctions. “I can say that of today, nearly all Russian insurance market …
Taiwan’s financial regulator said on Tuesday that seven Taiwanese insurance companies have not received interest due on May 27 on Russian Eurobonds after a grace period ended on Sunday evening. Russia defaulted on its international bonds for the first time …
Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors. For months, the country found paths around the penalties imposed after the …
The insurer Allianz said on Friday it would sell a majority stake in its Russian operations to the owner of a Russian insurer as it sought to pare its footprint in the country after the invasion of Ukraine. Allianz, which …
European Union ambassadors are set to approve a sixth package of sanctions over Moscow’s invasion of Ukraine, banning most Russian oil imports by year-end and restricting Russia’s ability to ship crude to countries worldwide. The sanctions would forbid the purchase …
The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its crude. The bloc will …
