The USRCCNE Monthly Newsletter
For those with interests bridging the US and Russia
From Josh Wilson, General Editor, USRCCNE
Effects of the new economic reality in Russia created by the new exchange rate are now seeping fully to the consumer level.
Recently, Russians have noted sharp increases in some prices. Most produce has jumped by 50-100%, for instance. Items that are imported – including coffee and tea, for instance, have seen similar price increases. Some items, such as sharp cheeses, have simply disappeared from shelves altogether. Other economic sectors are also affected. International tourism, which was declining before the currency crisis, has continued its trend – although domestic tourism is set to rise. It should be noted, however, that, according to polls, Russians are still far from motivated to move to political action by the current economic conditions.
This month, we cover several aspects of the current situation in Russia and the countries around it, as well as what our members and other businesses with interests bridging that wide geographic area are currently doing as the situations change.
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An Invitation to Breakfast: Alinga Decision Makers
(Feb 26 - Moscow, Russia) Alinga’s experienced Principals would like to invite you to breakfast to discuss the current business situation in Russia.
Pysanky Ukrainian Egg Decorating Workshop
(Feb 27-28 - Clinton, MA) Get ready for Easter by learning the Ukrainian egg-painting tradition!
Concert by the Rimsky-Korsakov String Quartet
(Mar 8, Newburyport, MA) Presented by Ballets Russes Arts Initiative, this concert celebrates the upcoming 175th anniversary of Tchaikovsky's birth, and also features a collaboration between the Quartet and Boston-area clarinetist Stephen Bates.
Marinsky in the US
(Feb - Mar, Various US Locations) The Marinsky Theatre is on a tour of the US.
Navruz in Seattle!
(Mar 21 - Seattle, WA) This 17th annual Navruz celebration and promises to once again be fun with delicious Central Asian food and entertainment.
Featured Member Articles
Changes In Procedure For Processing Personal Data
Many fear that Russia's revised law on personal data will shut down much of Russia's budding Internet commerce. Alinga Consulting Group here gives a legal overview of that law's contents. Subscribe to the Alinga Market Update
The State of Study Abroad in Russia and Ukraine
Russia and Ukraine's economic and political states make study abroad to these destinations more valuable than ever. Subscribe to the SRAS Newsletter
Not Just A Translation
As companies that have expanded into international markets well know, the need for translation can arise at any stage, during R&D, clinical trials, regulatory submission, manufacturing, or even sales and marketing. Let’s take a look at the important role that translation services play at each stage. Subscribe to the LanguageConnections Newsletter
Foreign VAT And Related Accounting Problems in Russia
Russian organizations that use foreign partners to perform certain services in another country may run into a problem of how to record foreign tax expenses in Russian tax accounting. From USRCCNE member Maged & Rost PC
Poland: An Emerging Central European Power
Poland was the only European state to not enter recession after 2008. Here's more that country's history and unique economic and geostrategic position. Subscribe to the SRAS Newsletter
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USRCCNE and Member News
CDRF on Ukraine’s Scientific Future
CRDF Global has a rich history of facilitating science and technology collaboration between the U.S. and Ukraine.
Serviced Offices from Alinga in Moscow!
Are you looking to establish a small, flexible presence in Russia? Looking to downsize your Moscow office? Alinga has the answer!
Language Connections Supports Child Advocacy Group
The child advocacy organization, Stand for Children, aims to ensure that all children graduate from high school prepared for, and with access to, a college education.
"Jewish Hertitage Summer" Offered by SRAS
The majority of the world's Jews can trace their heritage back to Poland, once the center of the Jewish world. This innovative program will combine lectures, site visits, travel, and meetings with experts, Holocaust survivors and more!
Alinga's Holiday Tradition: Give back to charity!
Over the winter holidays, Alinga Consulting Group held a charity campaign to support non-profit organizations.
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Business and Economy
US Universities See 20% Drop in Russian Enrolments
The report, which covers all languages except English in US universities, also notes that "political hotspots" have seen rises in enrolments - meaning that Russian programs could see a turn around soon.
IMF Announces $17.5bn Loan for Ukraine
The deal, under which Kiev will have to cut spending, restructure banks, and fight corruption, comes as leaders meeting in Minsk agree on a ceasefire.
Ukraine's IMF Bailout: Too Little Too Late
The IMF is demanding that nominal wages and pensions be held fixed and that price increases for energy be “front-loaded.”
Sugar and Fat Around the World
Russians consume less than 1/6 of the sugar that Americans do. Russians also consume only slightly more fat than Americans.
Putin Proposes Bill on Removing NGOs from Foreign-agents List
The current laws leaves no way for an NGO to be taken off the list if "they cease operating as a foreign agent."
RBC: One Million Westerns Leave Russia (in Russian)
RBC reports that about 1 million westerners have left Russia - but Ukrainians are flocking there. The figures use data that uses all travel purposes - not just westerners who were living/working in Russia - but also tourists and business travelers, etc.
EU to Close Tax Loophole Used by Many Russians (in Russian)
The EU is enacting rules that will forbid members from extending benefits to businesses that do not conduct real economic activity within their jurisdiction. This could help Russia with its deoffshorization efforts.
Does a Turkey Pipeline Make Sense?
Russia’s recent abandonment of “South Stream” in favour of “Turkish Stream” signals a new strategy on European exports. But does it make sense?
Russia's Anti-Crisis Plan Controversial (article in Russian)
The government is apparently preparing a 2-trillion ruble economic recovery plan. According to Russia's Ministry of Finance, apparently, it has "some good suggestions" but is "not a plan," as it is lacking in consideration of risks and basic economic problems. According to this article, however, the Russian government may re-write the Russian budget entirely based on this document.
Russian Banking Takes a Hit
Russia's banks have three problems: oil, sanctions, and interest rates.
Valio to Move Production of Dairy Products to Russia
The popular Finnish company will establish production facilities inside Russia to avoid import difficulties.
Stockmann to Close 4 of 6 Moscow Locations
The high-end retailer, which was struggling before the crisis, has found conditions worsened.
Kalishnikov Rifles to be Manufactured in US
US-based Russian Weapon Company is planning to start manufacturing Kalashnikov rifles in US due to US sanctions against Russia.
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Members of the USRCCNE become a part of a vibrant network of individuals and firms dedicated to furthering business opportunities between the U.S. and Russia. We work with business organizations in the US, (specializing in the New England region) and in Russia to bring exposure to the USRCCNE, and ultimately, to our members. Join today!