Komatsu, Japan’s largest construction and mining equipment manufacturer, has resumed deliveries to Ukraine, halted after the launch of Russia’s military offensive, the Nikkei newspaper reported on Sunday, citing the company’s president Hiroyuki Ogawa. “Ukraine has a thriving mining industry for iron ore and other natural resources. The machines were still …
Read More »Russian oil giant wants to sue US
Russian oil major Rosneft plans to file a lawsuit against the US Treasury Department, the company’s spokesman Mikhail Leontyev told the newspaper Vedomosti this week. Rosneft’s decision followed accusations by the Treasury that the Russian company took part in oil smuggling and money laundering for Iran’s Revolutionary Guards’ Quds Force, …
Read More »Former Austrian FM quits Russian oil giant
Former Austrian foreign minister Karin Kneissl has become the latest prominent non-national figure to step down from the board of Russian state oil giant Rosneft. The company announced Kneissl’s resignation on Monday, saying it was thankful for the “joint work over the past 10 months that went on against the …
Read More »Ex-German chancellor quits Russian oil giant
Former German Chancellor Gerhard Schroeder and Matthias Warnig, the executive director of the Nord Stream 2 pipeline, are stepping down from their positions on the board of Russian oil giant Rosneft, the company reported on Friday. The two directors said they cannot keep their positions, a statement from the company …
Read More »US oil giant declares Russia force majeure
ExxonMobil said on Wednesday that its Russian unit Exxon Neftegas has declared force majeure for its Sakhalin 1 operations due to sanctions. It has become increasingly difficult to ship crude to customers, the company explained. The Sakhalin 1 project produces Sokol crude oil off the coast of Sakhalin Island in …
Read More »Russian energy giant to quit foreign exchanges
Russia’s state-owned gas company Gazprom said on Friday it was delisting its depository receipts from international stock exchanges after the Russian government refused to agree on their further circulation. According to a statement on the company’s website, holders will have the “right to convert them into ordinary shares.” Gazprom also …
Read More »Austrian energy giant comments on replacing Russian gas
Replacing Russian gas with other sources will be next to impossible in the near term, according to Alfred Stern, CEO of Austrian oil and gas company OMV. “On the supply of gas for Europe, I think we should be rather clear, that in the short run it will be very …
Read More »US tech giant expects chip challenges to persist for two more years
US chip-making giant Intel has warned that the ongoing chip shortage will linger until 2024 and possibly beyond. “The chip shortage cost the US economy $240 billion last year, and we expect the industry will continue to see challenges until at least 2024 in areas of foundry capacity and tool …
Read More »German media giant employs Russian TV protestor
German media giant Axel Springer announced on Monday it had hired Marina Ovsyannikova, a former video editor for Russia’s Channel One. She gained celebrity in the West after staging a protest, during a live broadcast, against the Russian attack on Ukraine. Ovsyannikova, 43, will be reporting as a freelance journalist …
Read More »Major tech giant suspends business in Russia
Taiwanese computer maker Acer has suspended its business in Russia, the company announced on its website on Friday. The multinational hardware and electronics corporation said the decision was made “due to recent developments,” referring to “the conflict between Russia and Ukraine.” The Taiwanese firm has joined the mass exodus of …
Read More »