Top Stories
Factbox-Russian firms, entities halt publishing data amid sanctions
Global Banking & Finance Review®
Company
(Reuters) – Oil pipeline monopoly Transneft has joined other Russian entities in curbing access to trade and financial data, sources told Reuters.
(Reuters) – Oil pipeline monopoly Transneft has joined other Russian entities in curbing access to trade and financial data, sources told Reuters.
In the wake of Western sanctions imposed on Russia after it sent troops into Ukraine, the central bank said it would allow companies to withhold financial results.
Russian authorities are also allowing companies and banks to conceal information on securities issued and on their contractors.
Below is a list of firms or entities which have decided to limit access to, or not publish, data (in alphabetical order):
COMMODITIES & ENERGY
ENERGY MINISTRY – The Energy Ministry in April limited access to its statistics on oil and gas production and exports.
TRANSNEFT – Transneft will no longer agree a document that includes full loading plans for all exporters but instead will provide oil exporters only with the loading dates for their own cargoes, the sources said.
TOP CORPORATES
AEROFLOT – The country’s biggest airline, Aeroflot will not publish its first-quarter financial results.
ALROSA – Diamond producer Alrosa, which has been hit by harsh sanctions, has suspended publication of its monthly sales or production results.
GAZPROM – Gas producer Gazprom will not publish its first-quarter financial results.
LUKOIL – Russia’s second largest oil producer, Lukoil, will not publish its first-quarter financial results.
NLMK – Steel producer NLMK will not publish its first-quarter financial results.
POLYUS – The country’s largest gold producer, Polyus, will not publish its first-quarter financial results.
SEVERSTAL – Steel producer Severstal will not publish its first-quarter financial results.
FINANCIALSBANKS – The central bank has said it will not publish banks’ financial statements until October and will no longer publish the names of banks connected to Moscow’s alternative to the SWIFT payments network.
CENTRAL BANK – The central bank said on May 16 that it would no longer disclose monthly data on net capital outflows. It previously stopped publishing monthly data on foreign trade and suspended disclosure of gold holdings in its foreign currency and gold reserves.
TRADE
CUSTOMS SERVICE – The Customs Service in April decided to suspend publication of import and export data in order to exclude errors and avoid “speculation”.
Russia is a major exporter of oil, gas, metals, wheat and vegetable oils. It imports hundreds of million of dollars of bananas, citrus fruit and coffee, among other products, each year.
(Reporting by Reuters; editing by Jason Neely)
A central bank is a financial institution that manages a country's currency, money supply, and interest rates, and oversees the banking system.
Financial data refers to quantitative information about a company's financial performance, including revenues, expenses, and profits.
Sanctions are penalties or restrictions imposed by one country on another to influence its behavior, often related to trade or financial transactions.
Economic growth is the increase in the production of goods and services in an economy over a period, typically measured by GDP.
Explore more articles in the Top Stories category
