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Posts tagged to Sanctions

Siemens gas turbines taken to Crimea

MarketLine

Under pressure from the German government to extirpate the company from any harmful events, Siemens has reacted swiftly to eradicate the possibility of further problems emerging. All operations in Russia are now under review and links with the offending company which is accused of illegally moving the gas turbines to Crimea have been irrevocably damaged. For an influential and large company such as Siemens to take such stern action will likely mark a major change in relations international business has with Russia. Suddenly trust has been eroded and further sanctions… Read more

Ambitious Trans-Iran Canal still waiting for construction to begin: “Competitor” to Suez Canal unlikely to see construction begin any time soon

MarketLine

Despite having been officially announced for several years now, construction on the Trans-Iranian Canal Project has as of July 2017 still not begun. A number of reasons have been given to explain this delay including the high fixed costs required to build this canal. Official estimates put the cost of the project in the range of $10bn but other estimates suggest the figure could at least be double the amount. Whilst the authorities claim the returns from this project will justify the high cost of the project for the construction… Read more

Baltic nations agriculture and transportation sectors suffer due to Russian sanctions

MarketLine

Western sanctions on Russia due to the events that unfolded in Crimea in 2014 resulted in Russia only days later reciprocating and introducing its own sanctions on the EU and the US. Whilst the EU sanctions have focused on oil companies and Russian banks, Russian sanctions on the EU have focused on the agricultural sector. This has been bad news for players in the agricultural and transportation sectors in the Baltic nations. Russia has historically been a key export market for Baltic exporters and the two have a long history… Read more