A Snapshot: UK-Russia Trade Relations
By Shaan Afzal-Khan
Shaan Afzal-Khan Expanding on our UK-Arctic Trade and Investment Observatory, we are now building a collage of all the relevant information pertaining to UK-Russia trade relations – with particular attention on the everyday relationship between the two countries – so all the information is at your fingertips.
Period: Four quarters to the end of Q2 2021 (unless specified otherwise)
Rank as trading partner (goods and services):
20th largest trading partner (accounting for 1.2% of total UK trade) 17th largest goods trading partner (accounting for 1.6% of UK goods trade) 31st largest services trading partner (accounting for 0.6% of UK services trade)
Rank as export market:
26th largest export market (accounting for 0.7% of total UK exports) 24th largest goods export market (accounting for 0.8% of UK goods exports) 29th largest services export market (accounting for 0.6% of UK services exports)
Rank of import market:
17th largest import market (accounting for 1.7% of total UK imports) 12th largest goods import market (accounting for 2.1% of UK goods imports) 34th largest services import market (accounting for 0.5% of UK services imports)
Total trade in goods and services: £14.6 billion (increase of 12.8% or £1.7 billion from previous year) Total UK exports to Russia: £4.2 billion (decrease of 7.3% or £332 million from previous year) Total UK imports from Russia: £10.4 billion (increase of 23.7% or £2 billion from previous year) Outward stock of FDI (2019): £12.3 billion (0.8% of the total UK outward FDI stock) Inward stock of FDI (2019): £655 million (<0.1% of the total UK inward FDI stock)
For further information, visit DIT’s Trade and Investment Factsheet for Russia .
Latest News about UK-Russia Trade:
Treasury urges fund managers to pressure UK companies over Russian links (08/03/2022): https://news.sky.com/story/treasury-urges-fund-managers-to-pressure-uk-companies-over-russian-links-12560517 The London Metal Exchange on Tuesday suspended the trading of nickel after prices more than doubled to surpass $100,000 per metric ton (08/03/2022): https://www.cnbc.com/2022/03/08/russia-nickel-trading-suspended-in-london-after-prices-hit-100000.html Russia’s Boardrooms Face Exodus of Western Directors (08/03/2022): https://www.wsj.com/articles/russias-boardrooms-face-exodus-of-western-directors-11646745122 A growing number of high-profile Scotland-based food and drink firms have halted exports to Russia following the invasion of Ukraine (08/03/2022): https://www.bbc.co.uk/news/uk-scotland-scotland-business-60625374 Premier League suspends its deal to show football matches in Russia (08/03/2022): https://news.sky.com/story/premier-league-suspends-its-deal-to-show-matches-in-russia-12560760 UK set to ban Russian oil by the end of this year and focus on US and Middle East imports (08/03/2022): https://news.sky.com/story/ukraine-war-uk-set-to-ban-russian-oil-by-the-end-of-this-year-and-focus-on-us-and-middle-east-imports-12560703 Economic Crime Bill: MPs back measures to speed up oligarch sanctions (08/03/2022): https://www.bbc.co.uk/news/uk-politics-60646119 Surge in fertiliser prices from Russia-Ukraine war adds to pressure on UK farmers (08/03/2022): https://www.theguardian.com/business/2022/mar/08/surge-in-fertiliser-prices-adds-to-pressure-on-uk-farmers Shell sorry and pledges to stop buying Russian oil (08/03/2022): https://www.bbc.co.uk/news/business-60661611 Uniqlo keeps Russian shops open as clothes a ‘necessity’ (08/03/2022): https://www.bbc.co.uk/news/business-60660006 OneWeb is facing its toughest mission after loss of Russian Soyuz rockets (07/03/2022): https://www.thetimes.co.uk/article/oneweb-is-facing-its-toughest-mission-after-loss-of-russian-soyuz-rockets-s7r88g7db Foreign Minister Liz Truss states that Britain will be able to sanction hundreds of individuals on March 15 if emergency legislation is passed as scheduled (07/03/2022): https://www.reuters.com/world/uk/uk-targets-new-russia-sanctions-march-15-if-new-laws-approved-2022-03-07/ Taxpayers face £3bn Bulb bill as Russian invasion sends gas prices soaring (07/03/2022): https://news.sky.com/story/taxpayers-face-3bn-bulb-bill-as-russian-invasion-sends-gas-prices-soaring-12560191 Culture minister Nadine Dorries states that UK has ‘tolerated Russian kleptocrats’ in football for too long (07/03/2022): https://www.independent.co.uk/news/uk/politics/dorries-abramovich-chelsea-sanctions-ukraine-b2027716.html Fifa says foreign players can leave Russia due to Ukraine crisis (07/03/2022): https://www.bbc.co.uk/sport/football/60652298 Angry dock workers in the UK are refusing to unload Russian oil due to Ukraine invasion (06/03/2022): https://www.cnbc.com/2022/03/06/ukraine-angry-dock-workers-in-the-uk-are-refusing-to-unload-russian-oil.html Visa and Mastercard suspend services in Russia in further blow to Vladimir Putin and the economy (06/03/2022): https://www.telegraph.co.uk/world-news/2022/03/06/visa-mastercard-suspend-services-russia-blow-vladimir-putin/ Shell defends ‘difficult’ decision to buy Russian crude oil (06/03/2022): https://www.bbc.co.uk/news/business-60638255 Accountancy giant PwC to exit Russia as multinational exodus grows (06/03/2022): https://news.sky.com/story/accountancy-giant-pwc-to-exit-russia-as-multinational-exodus-grows-12559637 Wheat prices hit record highs as war halts exports from Ukraine and Russia (05/03/2022): https://www.ft.com/content/e6a28dd9-ecea-4d67-b6b5-a50301b731b2 Russia says it ‘will not forget’ Britain’s support for Ukraine in biggest threat yet (05/03/2022): https://www.mirror.co.uk/news/uk-news/breaking-russia-threatens-britain-directly-26395362 BBC, CNN and other global news outlets suspend reporting in Russia following new Russian legislation that ‘appears to criminalise the process of independent journalism’ (05/03/2022): https://www.theguardian.com/media/2022/mar/04/bbc-temporarily-suspending-work-all-news-journalists-russia UK dockers refuse tanker of Russian gas (05/03/2022): https://www.bbc.co.uk/news/uk-england-kent-60619112 Sky News journalist Stuart Ramsay and team shot at in ambush in Ukraine (05/03/2022): https://www.bbc.co.uk/news/uk-60627841 UK minister responsible for farming states that UK pork prices likely to rise due to Russia-Ukraine conflict (04/03/2022): https://www.theguardian.com/environment/2022/mar/04/pork-prices-likely-to-rise-due-to-russian-invasion-of-ukraine-says-defra-minister UK’s Sainsbury’s halts sale of products 100% sourced from Russia (04/03/2022): https://www.reuters.com/business/retail-consumer/uks-sainsburys-stops-selling-products-100-sourced-russia-2022-03-04/ London Stock Exchange suspends trading in 27 firms with strong links to Russia (03/03/2022): https://www.theguardian.com/business/2022/mar/03/london-stock-exchange-suspends-trading-in-27-firms-with-strong-links-to-russia Liz Truss announces moves against Everton-linked Alisher Usmanov and Igor Shuvalov (03/03/2022): https://www.theguardian.com/world/2022/mar/03/uk-imposes-sanctions-on-russian-billionaire-and-former-deputy-pm OneWeb: UK satellite firm suspends use of Russian rockets (03/03/2022): https://www.bbc.co.uk/news/uk-politics-60602512 Wetherspoons drops sales of Russian beer after Ukraine invasion (03/03/2022): https://www.standard.co.uk/news/uk/wetherspoons-drops-sales-russian-beer-ukraine-invasion-baltika-lager-b985641.html Roman Abramovich confirms Chelsea are for sale and says net proceeds will go to Ukraine war victims (02/03/2022): https://www.theguardian.com/football/2022/mar/02/chelsea-swiss-billionaire-hansjorg-wyss-says-offered-chance-buy-club-roman-abramovich Russia doubles interest rate after rouble slumps over sanctions (01/03/2022): https://www.bbc.co.uk/news/business-60550992 Jaguar Land Rover pauses car sales to Russia over Ukraine conflict (01/03/2022): https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-60569131 UK’s biggest private pension fund sells off its Russia-linked assets (01/03/2022): https://www.theguardian.com/business/2022/mar/01/uk-private-pension-scheme-russia-uss YouTube bans Russia Today, Sputnik and connected Russian media channels in Europe (01/03/2022): https://www.independent.co.uk/tech/youtube-rt-russia-today-sputnik-ukraine-b2025512.html The UK government has joined with the US and the EU to announce new sanctions against Russia’s central bank designed to cut off Moscow’s major financial institutions from Western markets (28/02/2022): https://www.bbc.co.uk/news/business-60553362 Priti Patel states that the UK will lead on efforts to get Russia suspended from Interpol (28/02/2022): https://www.reuters.com/world/uk-will-lead-efforts-get-russia-suspended-interpol-says-minister-2022-02-28/ UK citizens are advised not to travel to Russia (28/02/2022): https://www.bbc.co.uk/news/business-60559513 Vladimir Putin has ordered a ban on foreign exchange loans and transfers by Russian residents to outside of the country (28/02/2022): https://www.independent.co.uk/news/world/europe/putin-russia-sanctions-economy-ukraine-b2025043.html UK fast-tracks law to tackle Russian ‘dirty money’ (28/02/2022): https://www.bbc.co.uk/news/business-60549927 Britain to block Russian ships from entering U.K. ports, sanctions more banks (28/02/2022): https://www.washingtonpost.com/world/2022/02/28/uk-ports-ukraine/ Boris Johnson promises UK property register to expose kleptocrat money (28/02/2022): https://www.theguardian.com/business/2022/feb/28/boris-johnson-promises-uk-property-register-to-expose-kleptocrat-money Downing street suggests that UK law firms aiding Russian oligarchs could face penalties (28/02/2022): https://www.theguardian.com/world/2022/feb/28/uk-law-firms-aiding-russian-oligarchs-could-face-penalties-no-10-suggests Russia blames Liz Truss and others for nuclear alert (28/02/2022): https://www.bbc.co.uk/news/uk-60558048 Shell joins BP in selling Russian assets as pressure on Kremlin-linked firms grows (28/02/2022): https://www.theguardian.com/world/2022/feb/28/shell-to-exit-joint-ventures-with-gazprom-and-pull-out-of-nord-stream-2 BP shares slide after it announces exit from Russia (28/02/2022): https://news.sky.com/story/ukraine-invasion-bp-shares-slide-after-it-announces-exit-from-russia-12553883 Mounting international sanctions amid Russia’s war on Ukraine have thrown plans to launch 36 OneWeb satellites this week into uncertainty (28/02/2022): https://spacenews.com/russia-ukraine-war-raises-questions-for-upcoming-oneweb-launches/ FA announces England will not play Russia in any international football fixture ‘for the foreseeable future’ (27/02/2022): https://news.sky.com/story/ukraine-invasion-england-will-not-play-russia-in-any-international-football-fixture-for-the-foreseeable-future-fa-announces-12553645 The UK bans Russian airlines from entering British airspace – and Russia has retaliated (27/02/2022): https://www.euronews.com/travel/2022/02/25/the-uk-bans-russian-airlines-from-entering-british-airspace-and-russia-has-retaliated EU, U.K., Canada, U.S. Plan to Cut Some Russian Banks From Swift (26/02/2022): https://www.wsj.com/articles/eu-leaders-weigh-cutting-russia-out-of-global-payment-system-swift-11645888337 Major Russian banks will be excluded from the UK financial system and oligarchs have been targeted in new sanctions announced by Boris Johnson – “the largest and most severe package of economic sanctions that Russia has ever seen” (25/02/2022): https://www.bbc.co.uk/news/uk-60515626 Experts warn of potential surge in Russian cyber attacks on UK organisations (23/02/2022): https://www.independent.co.uk/news/world/politics/russia-ukraine-war-cyber-attack-online-b2021471.html Petrol prices hit new high amid Ukraine tensions (23/02/2022): https://www.bbc.co.uk/news/business-60490749 Culture Secretary asks Ofcom to review Russia Today’s UK licence (23/02/2022): https://www.itv.com/news/2022-02-23/culture-secretary-asks-ofcom-to-review-russia-todays-uk-licence Critics say mild UK sanctions on Russia don’t match promises (23/02/2022): https://abcnews.go.com/Business/wireStory/critics-mild-uk-sanctions-russia-match-promises-83062191 Sanctions Threaten U.K.’s Position as Playground for Russian Oligarchs (23/02/2022): https://www.wsj.com/articles/sanctions-threaten-u-k-s-position-as-playground-for-russian-oligarchs-11645623038 Foreign Secretary Truss says that UK will stop Russia selling sovereign debt in London (23/02/2022): https://www.theguardian.com/world/2022/feb/23/uk-russia-ukraine-liz-truss Foreign Secretary Truss tells English teams to boycott Champions League final over Russia crisis (23/02/2022): https://www.lbc.co.uk/news/sports/boycott-champions-league-final-russia-truss/ Britain sanctions Russian oligarch Timchenko, two Rotenberg brothers and five banks (22/02/2022): https://www.reuters.com/world/uk/uk-says-russian-invasion-ukraine-has-begun-2022-02-22/ Stocks rebound after selloff as Russia pulls some troops back from border (15/02/2022): https://www.reuters.com/markets/europe/global-markets-wrapup-1-2022-02-15/ Boris Johnson states that Britain could block Russian companies from raising capital in London and expose property and company ownership in London if Russia invades Ukraine (15/02/2022): https://www.reuters.com/markets/stocks/uk-could-stop-russian-companies-raising-money-london-pm-johnson-2022-02-15/ Anglo-Swiss company Glencore sells stake in Russia’s Russneft to cap 20-year partnership (15/02/2022): https://www.reuters.com/business/exclusive-glencore-sells-stake-russias-russneft-cap-20-year-partnership-2022-02-15/ Analysis shows that 74% of ransomware revenue goes to Russia-linked hackers (14/02/2022): https://www.bbc.co.uk/news/technology-60378009 BP sticking with Russia business, says Ukraine crisis is having ‘no impact’ on its operations (14/02/2022): https://www.cnbc.com/2022/02/14/bp-ceo-bernard-looney-commits-to-russia-operations-amid-ukraine-crisis.html Global markets tumble as Russia-Ukraine tensions hit shares (14/02/2022): https://www.theguardian.com/business/2022/feb/14/global-markets-tumble-russia-ukraine-tensions-hit-shares-ftse-100 London mayor takes aim at ‘Putin’s allies’ with foreign property register to prevent money laundering (07/02/2022): https://www.cnbc.com/2022/02/07/londons-mayor-sadiq-khan-calls-for-register-of-foreign-owned-property.html Labour calls on Tories to return money from donors linked to Russia (06/02/2022): https://www.theguardian.com/world/2022/feb/06/labour-calls-on-tories-to-return-money-from-donors-linked-to-russia Ministers accused of failing to stem flow of Russian ‘dirty money’ into UK (04/02/2022): https://www.theguardian.com/politics/2022/feb/04/ministers-accused-of-failing-to-stem-flow-of-russian-money-into-uk Nicola Sturgeon states that the Britain’s failure to tackle Russian dirty money has enabled Putin’s aggression (01/02/2022): https://www.theguardian.com/commentisfree/2022/feb/01/ukraine-russia-vladimir-putin-boris-johnson-dirty-money The UK government has threatened to take action against Kremlin-linked oligarchs if President Vladimir Putin orders an invasion of Ukraine (01/02/2022): https://edition.cnn.com/2022/02/01/business/russia-oligarchs-uk-sanctions/index.html The UK has announced a broadening of its sanctions regime in light of tensions on the Ukraine border (31/01/2022): https://www.gov.uk/government/news/foreign-secretary-ramps-up-uk-sanctions-regime-to-leave-kremlin-nowhere-to-hide Kremlin spokesman Dmitry Peskov told reporters that Moscow will provide a response to London’s attack on Russian business if it occurs (31/01/2022): https://tass.com/politics/1395287 As tension between Russia and Ukraine escalates, experts have warned about potential blackouts that could put even more strain on power grids across Europe (26/01/22): https://www.energylivenews.com/2022/01/26/could-russia-ukraine-clash-bring-blackouts-in-europe Volatility has plagued Russian markets in recent weeks amid Western fears Russia is poised to invade Ukraine, something Moscow has repeatedly denied (26/01/22): https://www.businesstoday.in/latest/world/story/russian-rouble-falls-back-past-79-vs-dollar-amid-sell-off-as-ukraine-tensions-simmer-320375-2022-01-26%EF%BB%BF The United States has threatened to impose a novel export control to deprive Russia of key tech components that would damage AI and aerospace industries if Russia were to invade Ukraine (24/01/22): https://www.pressreader.com/usa/san-diego-union-tribune/20220124/281702618095730 Britain could be forced to contend with record-breaking prices for gas and petrol if the fear of a Russian invasion of Ukraine becomes a reality, ministers have been told (24/01/22): https://www.thetimes.co.uk/article/fears-mount-russia-will-weaponise-gas-supplies-over-ukraine-crisis-xxng6v87b The UK is withdrawing some embassy staff and dependents from Ukraine in response to the “growing threat” from Russia (24/01/22): https://www.iwradio.co.uk/news/sky-news/uk-pulls-some-embassy-staff-out-of-ukraine-in-response-to-the-growing-threat-from-russia Russia and the US have held talks at a ‘critical moment’ as the possibility for war in Ukraine hangs over Europe (22/01/22):https://www.msn.com/en-gb/news/world/russia-and-us-hold-crucial-talks-as-full-scale-war-in-ukraine-looms/ar-AAT0Inm Liz Truss has called on the “free world” to reduce its economic dependence on Russia as tensions continue over Ukraine (21/01/22): https://www.msn.com/en-gb/money/other/liz-truss-calls-on-e2-80-98free-world-e2-80-99-to-reduce-economic-dependence-on-russia/ar-AAT020k?pfr=1 The Iranian foreign minister says Iran and Russia are redoubling their joint efforts to nullify US and European sanctions targeting the economies of the two countries (19/01/22): https://en.abna24.com/news//amir-abdollahian-iran-russia-redoubling-efforts-to-nullify-western-sanctions-cement-trade-ties_1220359.html Russian stocks take biggest tumble since March 2020 as fear mounts for western investors over Ukraine invasion (18/01/2022): https://www.ft.com/content/7c8c2717-0cd4-4dc4-98d4-2f4be8142804 Russia’s Gazprom has no Europe gas exports planned in February via Yamal pipeline (17/01/2022): https://www.reuters.com/business/energy/yamal-gas-pipeline-flows-still-heading-eastward-germany-poland-2022-01-17/ A new batch of OneWeb satellites have been delivered to Kourou spaceport for launch atop Soyuz rocket in February (17/01/2022): https://tass.com/science/1389227 Tobias Ellwood, chair of the House of Commons Defence Select Committee, has told GB News that British energy prices on the line if Russia invades Ukraine (15/01/2022): https://www.gbnews.uk/news/british-energy-prices-on-the-line-if-russia-invades-ukraine-warns-defence-committee-chair/205548 MPs to re-examine UK response to Russian oligarch money laundering in London (10/01/2022): https://www.theguardian.com/politics/2022/jan/10/mps-to-re-examine-uk-response-to-dirty-money-from-russia Russian submarines threatening undersea network of internet cables, says UK defence chief Sir Tony Radakin (08/01/2022): https://news.sky.com/story/russian-submarines-threatening-undersea-network-of-internet-cables-says-uk-defence-chief-sir-tony-radakin-12511437 Britain’s foreign secretary said that any further military incursion into Ukraine by Russia would bring “massive consequences, including coordinated sanctions to impose a severe cost on Russia’s interests and economy” (06/01/2022): https://www.reuters.com/world/uk/britain-warns-russia-over-ukraine-were-working-high-impact-sanctions-2022-01-06/ Gazprom cashed in a £179 million dividend from its London-based international trading arm (02/01/2022): https://www.thetimes.co.uk/article/london-traders-at-russias-gazprom-cash-in-on-gas-price-turmoil-cm5scjmn8 Russian rocket takes 36 more satellites from British firm OneWeb into orbit, bringing the company over half way towards completing global broadband internet goal (27/12/2021): https://techxplore.com/news/2021-12-uk-firm-closer-global-internet.html Russian start-up ‘L-Charge’ aims to bring mobile EV superchargers to London (23/12/2021): https://www.reuters.com/markets/commodities/russian-start-up-aims-bring-mobile-ev-superchargers-london-2021-12-23/ Sensitive UK police data that was obtained during a data breach of UK firm Dacoll has been leaked by Russian hackers (19/12/2021): https://www.rt.com/uk/543692-russian-hackers-british-police/ Russian online retailer ‘Wildberries’ launches sales in the UK (17/12/2021): https://tass.com/economy/1377435 Russia raises interest rate to 8.5% and expects inflation to slow to 4-4.5% by end of 2022 (17/12/2021): https://www.reuters.com/markets/europe/russia-raises-key-rate-sharply-85-its-highest-since-2017-2021-12-17/ UK warns that China and Russia threaten ‘free and open internet’ in document setting out its new cyber strategy (14/12/2021): https://www.ft.com/content/561fe2ec-1a89-47dc-ba29-c902746ee6bc UK gas prices hit record high amidst concerns over Ukraine invasion (14/12/2021): https://www.ft.com/content/17b58434-be03-4cb8-b75a-456e49f3bc0b EU’s top diplomat states that the bloc is making Russian sanctions plan with the UK and US (13/12/2021): https://uk.news.yahoo.com/eu-making-russia-sanctions-plan-114634587.html Britain’s foreign secretary states that the UK would aim to damage the Russian economy if it makes an incursion into Ukraine (11/12/2021): https://www.independent.co.uk/news/uk/politics/russia-ukraine-liz-truss-g7-b1974075.html Boris Johnson tells call with world leaders that the UK will use ‘all the economic and diplomatic tools at its disposal’ to prevent any invasion of Ukraine by Russia (07/12/2021): https://www.mirror.co.uk/news/politics/uk-use-all-economic-diplomatic-25633473 Floating nuclear power plant near the arctic town Pevek is expected to power several resource projects including Mayskoye, a gold mine developed by UK-listed miner Polymetal (01/12/2021): https://www.ft.com/content/f5d25126-94fc-41fc-bc35-341df0560f4d Britain’s foreign secretary urges Nato allies to block Nord Stream 2 pipeline (30/11/2021): https://www.theguardian.com/world/2021/nov/30/truss-urges-nato-allies-to-block-russias-nord-stream-2-gas-pipeline Catherine the Great letter supporting inoculation sells for $1.3 million in London auction (29/11/2021): https://www.nytimes.com/2021/11/29/arts/catherine-the-great-vaccination-letter-auction.html Russian discount supermarket ‘Mere’ delays opening more UK stores amid supply chain problems and recruitment issues (24/11/2021): https://www.mirror.co.uk/money/russian-lidl-mere-delays-opening-25538543 UK gas prices rise as Germany rejects Russian pipeline (18/11/2021): https://www.express.co.uk/news/uk/1523247/gas-prices-rise-17-percent-germany-rejects-russian-pipeline UK’s National Cyber Security Centre warns of record number of cyber incidents in the UK, with ransomware attacks originating from Russia dominating its activities (17/11/2021): https://www.theguardian.com/technology/2021/nov/17/uk-tackles-record-cyber-incidents-as-russian-ransomware-attacks-increase Boris Johnson warns Europe that there is a choice coming between ‘mainlining ever more Russian hydrocarbons in giant new pipelines, and sticking up for Ukraine’ (15/11/2021): https://www.reuters.com/world/uk/uks-johnson-says-choice-looms-between-russian-hydrocarbons-backing-ukraine-2021-11-15/ Russian ambassador to the UK denies that his country lacks urgency on climate change despite absence from COP26 and also states that there is a good chance that Brexit will present an opportunity to establish a new and better relationship with Russia especially for ‘businessmen’ (10/11/2021): https://news.sky.com/story/cop26-russian-ambassador-to-london-denies-his-country-lacks-urgency-over-climate-change-12465468 Conti, a Russia-based ransomware group, is demanding tens of millions in cryptocurrency following a ransomware attack on London’s Graff jewellers (01/11/2021): https://www.itpro.co.uk/security/ransomware/361409/london-jeweller-graff-conti-ransomware-celebrity-leak Russian news company RT loses appeal against £200,000 Ofcom fine for ‘breaches of impartiality’ about the Salisbury poisoning and the war in Syria (01/11/2021): https://www.salisburyjournal.co.uk/news/19686856.salisbury-poisonings-rt-loses-appeal-ofcom-fine/ Gas prices tumble in Europe as Russia signals more supplies next month (29/10/2021): https://www.ft.com/content/097438c1-c0c0-4e6b-993a-9c502f05cf83 Segezha shareholder Bonum Capital would support the forestry group seeking a London listing (26/10/2021): https://www.reuters.com/article/russia-segezha-bonum/russias-bonum-says-it-would-support-forestry-firm-segezha-in-london-listing-idINL8N2RM311 Prime Minister Boris Johnson urges President Putin to commit to net zero by 2050 (rather than 2060) in call ahead of the COP26 climate summit (25/10/2021): https://www.gov.uk/government/news/pm-call-with-president-putin-of-russia-25-october-2021 President Putin says he will not attend the COP26 climate summit in Glasgow (21/10/2021): https://www.bbc.co.uk/news/world-europe-58977993 The Moscow Exchange aims to boost gold trading by the set-up of links with the London market (19/10/2021): https://www.bloomberg.com/news/articles/2021-10-19/moscow-bourse-wants-to-boost-gold-trade-after-london-market-link Russian railway networks constrained as explosive growth in sea shipping costs has led to Chinese manufactures sending more goods to Europe through this avenue (19/10/2021): https://uk.sports.yahoo.com/news/surge-goods-china-strains-russias-080331634.html Russian ambassador to the UK states that Russia has not cut off gas supplies for ‘political reasons’ and that it will come to the rescue of the UK if needed (18/10/2021): https://www.express.co.uk/news/world/1507405/russia-latest-news-moscow-uk-ambassador-andrei-kelin-vladmir-putin-gas-supplies-ont British American Tobacco will close production in Saratov due to falling demand and rising prices (18/10/2021): https://tass.ru/ekonomika/5690755 36 more satellites from British company Oneweb put into orbit by Russian rocket (14/10/2021): https://tass.com/science/1349697 Russian tech giant Yandex launches an ultra-fast grocery delivery service in the UK to compete with a multitude of rapid grocery delivery apps (14/10/2021): https://www.cnbc.com/2021/10/14/russias-yandex-launches-rapid-grocery-delivery-service-in-london.html UK gas prices fall from record high after Russia says that it is boosting supplies to Europe (07/10/2021): https://www.bbc.co.uk/news/business-58815665# Russian IT firm Softline plans London IPO and secondary listing in Moscow (30/09/2021): https://www.nasdaq.com/articles/russian-it-firm-softline-plans-london-ipo-secondary-listing-in-moscow-2021-09-30-0 Russia supplying less natural gas to the market than before the pandemic (23/09/2021): https://edition.cnn.com/2021/09/23/business/europe-uk-energy-crisis/index.html Polymetal, a Russian gold miner that is part of the benchmark FTSE 100 index, warns that the chip shortage afflicting the car industry will hit the makers of mining vehicles and machinery (31/08/2021): https://www.ft.com/content/36b8dfd6-6818-44f2-8e86-b1fee7ea4ed5 Russian Rocket launches 34 new satellites for British company Oneweb (22/08/2021): https://www.themoscowtimes.com/2021/08/22/russian-rocket-launches-34-new-uk-satellites-a74863 A Russian discount food retailer has opened its first UK store (18/08/2021): https://www.express.co.uk/life-style/life/1478487/mere-uk-russian-lidl-discount-supermarket-budget-prices-store-opening
Shaan Afzal-Khan is a Global Leadership Fellow at Polar Research and Policy Initiative. He is part of the PRPI team behind the UK-Arctic Trade and Investment Observatory, and serves as the lead for the Kingdom of Denmark and Russia.
