{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Anti-Russian sanctions

Russian state reinsurer does not rule out it may come under international sanctions

In late July, the Central Bank decided to set up the National Reinsurance Company (NRC) and formed part of its supervisory board

MOSCOW, August 24. /TASS/. The National Reinsurance Company (NRC), established by Russia’s Central Bank to protect the interests of sanctioned Russian entities, does not rule out that it may also come under the regime of international sanctions, head of the reinsurer Nikolai Galushin told reporters.

"The map of risks for NRC includes a risk that the company may come under the regime of international sanctions, but the company is a Russian legal entity, it takes risks for reinsurance on the Russian market and even sanctions will not affect the company’s activities," Galushin said.

According to him, NRC does not consider the outgoing insurance market and being under sanctions won’t affect the activities of the company.

Read also

Galushin named enterprises of defense sector as an example of the sanctioned entities that require immediate reinsurance in the NRC.

"But this is not only the military industrial complex, we have legal and physical entities which came under the sanctions of the US and the EU," Galushin said. He added that the potential volume of compensations to sanctioned entities is estimated at least at 5 bln rubles ($77 mln).

Galushin also said that under the law, the NRC is obliged to reinsure to 10% of risks related to sanctions from the companies that submitted their requests for reinsurance. As for other types of risks the reinsurer has the right not to accept of them for reinsurance.

Under the law the NRC is to start its activities two months after it receives the CBR license to carry out reinsurance. The company’s CEO plans to get the license in October. On the first stage, the staff of NPC will consist of about 30 people. In the future it will be expanded as the company’s business grows.

At present, the Supervisory Board of NPC has been approved. It includes of 10 people and 6 of them are representatives of the Central Bank. The Board of Directors also included the president of the All-Russian Union of Insurers Igor Yurgens.

The company’s authorized share capital is 71 bln rubles ($1.1 bln). Paid-up capital is 21.3 bln rubles ($328 mln).

Under the law, the company is fully owned by the Central Bank.

In late July, the Central Bank decided to set up the NRC and formed part of its supervisory board. The Central Bank pointed out that the establishment of NRC will significantly increase the capacity of the Russian reinsurance market providing insurance to businesses that lost it due to sanctions and impossibility of reinsurance of their risks abroad.

Tags

Sanctions vs. Russia

Russian Economy Ministry expects trade balance surplus to decline

Exports of goods are expected to drop to $419.7 bln this year. Imports are forecast to grow to $315.7 bln in 2024

Russia's response to seizure of frozen assets in US to have no timeframe — chief delegate

Konstantin Gavrilov emphasized that the US will have to be brought to account for this decision

Poland practices transfer of mechanized brigade to Lithuania's Suwalki Corridor area

The exercise under the classified Orsha plan involves 1,500 military personnel from Lithuania's Zemaitija Motorized Infantry Brigade, Poland's 15th Mechanized Brigade, allied US and Portuguese units, as well as about 200 pieces of military equipment

Hamas fighters have destroyed more than 400 Israeli vehicles — group’s senior member

Abu Ubaida, a spokesman for the Izz ad-Din al-Qassam Brigades, the military wing of Hamas, said the brigades had completely or partially destroyed 135 units of Israeli military equipment over the past three days

Russia fights West’s sanctions at UN for the sake of developing countries — envoy to UN

According to the diplomat, Russia is engaged in "fierce battles on this issue in different committees of the General Assembly"

Moscow reports 1,773 daily coronavirus hospitalizations

The capital city has the highest number of coronavirus cases nationwide, according to official statistics

US can send Ukraine Patriot air defense systems currently deployed in other regions

US National Security Advisor Jake Sullivan added that the his country had doubled artillery production in order to help Kiev

Global community changing tune about how Ukraine conflict started — security official

According to Nikolay Patrushev, these countries "understand perfectly well who is financing" the Kiev regime

Ukraine turns into testing ground for future world order, says Belarus president

"The largest nuclear powers, albeit indirectly, are actually fighting on Ukrainian territory. And not indirectly," the president of Belarus noted

Europe should be prepared to build relations with Russia post-Ukraine conflict — Macron

According to the French leader, when building relations with Russia, Europe needs to rely upon its own strong security system

DPRK supports Russia in defending sovereignty, security — ambassador

The North Korean ambassador Sin Hong Chol praised the "sincere and excellent friendly relations" between Russian President Vladimir Putin and DPRK leader Kim Jong Un

Russian defense minister dismisses his deputy Ivanov

Timur Ivanov was removed from the office of deputy defense minister of the Russian Federation of the federal government’s civil service

Charles III to return to public duties soon — Buckingham Palace

The king, 75, and queen will host their majesties the emperor and empress of Japan for a state visit in June, according to the palace

Putin signs law on holding World Friendship Games

Funding will be provided from the federal, regional and local budgets, as well as taxes from gambling transferred to the organizer

West bends sanctions rules when it suits them — Kremlin

Dmitry Peskov noted that, "according to some parameters, companies in Europe and other regions can hardly maintain their competitiveness if they completely abandon our products"

Russian Economy Ministry expects trade balance surplus to decline

Exports of goods are expected to drop to $419.7 bln this year. Imports are forecast to grow to $315.7 bln in 2024

Medvedev warns that Russia’s default may entail Europe’s default

Deputy Chairman of the Russian Security Council added that the European Union’s financial system is not very stable and people are losing confidence

Russian defense chief points to West’s double standards on right to self-defense

In this regard, Sergey Shoigu mentioned the operation that Tehran carried out "in retaliation for a blatant attack on the Iranian consulate building in Damascus"

Russian troops wipe out military train with Western armaments in DPR over past day

Russian troops improved their tactical position and repelled eight Ukrainian army counterattacks in the Avdeyevka area over the past day, the Defense Ministry reported

Putin calls impending formation of new cabinet ‘crucial step’

The Russian leader pointed out that it is important to ensure stability and transparency in the Russian socio-political system

Russia to hold next international security meeting in 2025 — top security official

The date and location will be announced later

Terrorist attacks occur in Iran, Russia due to US support for terrorism — Iran’s top brass

According to the news agency Tasnim, when speaking about NATO eastward expansion, Mohammad Reza Ashtiani emphasized that the Shanghai Cooperation Organization member states should utilize the SCO potential in order to neutralize common threats

Russia vetoes US-backed UNSC resolution on banning nuclear weapons in outer space

The resolution gained 13 votes

Moscow slams NATO drills near Russian borders as inflammatory

"It is obvious that the upcoming combat training on the territory of Finland is part of a hybrid war against our country," Maria Zakharova said

Network of international conspirators plotted Crocus terrorist attack — watchdog

Yury Chikhanchin pointed out that the perpetrators of the attack were provided with money, weapons, transportation and ammunition

Over 3,100 foreign mercenaries fight for Ukraine, most of them from US

The Russian Investigative Committee added that measures are underway to locate their whereabouts and bring them to criminal liability

Lithuania’s prime minister warns US may curtail aid to Ukraine

Ingrida Simonyte called for getting ready for such a turn of events right away, and not just watch and wait

Hungary sees Ukraine conflict entering new phase, NATO involvement rising

According to the minister Gergely Gulyas, the North Atlantic Alliance "wants to provide financial assistance, as well as supply weapons and train Ukrainian soldiers"

Ship receives damage in missile attack off Yemeni coast — UKMTO

The Master has reported two attacks

NATO bears direct responsibility for Ukraine crisis — Chinese Foreign Ministry

Spokesman Wang Wenbin stressed that China was not providing weapons to the conflicting parties and strictly controlled dual-use goods, including the export of drones

West reluctant to punish those responsible for Nord Stream blasts — Russian diplomat

According to Vasily Nebenzya, the situation is as though a year-long probe into a murder yielded a conclusion that "the victim was murdered"

Russia, India plan to launch ‘green corridor’ project in trade shortly

The sides supported the early launch of the green corridor project aimed at the simplification of customs operations

Russian athletes to play at next Chessboxing World Championship under national flag

"Our athletes are allowed to compete in full, meaning that they are allowed to participate in their uniforms, under the country’s flag and to the tune of the Russian national anthem," the president of the Russian Chessboxing Federation said

Ukraine had to negotiate agreements with Russia with ‘three masters’ — Russian envoy

"It is very difficult to negotiate with those who are unable to make decisions, even if they want, they can’t, and only act as a side to a difficult conflict," Vladimir Medinsky explained

US, allies destroy two Houthi anti-ship missiles

According to the US military, there was no damage to US or coalition vessels

IAEA chief to have working contacts with Rosatom, no meeting with Putin is planned

Rafael Grossi may visit Russia in late May

Negative trends still on rise in US-China relations — top Chinese diplomat

The United States should not cross the red lines with regard to China’s sovereignty and security, Wang Yi added

Armenian police arrests people protesting against demarcation with Azerbaijan

Earlier, demonstrators in several regions of Armenia tried to block highways, including international ones

Musk concurs that civil war looming in West

The US businessman commented on remarks by Gad Saad, a Canadian professor of Lebanese origin, who insisted that "the path that the West is taking will result in civil war"

Ukraine’s army leaves first defensive line in Berdychi near Avdeyevka, says DPR

The Ukrainian military has suffered heavy casualties among personnel and military hardware in that community, Igor Kimakovsky said

UN bound to stay as unique world organization — Russian ambassador

"If the UN did not exist, it should have been created," Vasily Nebenzya said

Over 60% of Russian companies continue using Microsoft services

57% of companies replaced at least one foreign service with a Russian one over the past few years, the analysts noted

Russian troops destroy 89 Ukrainian UAVs, 5 boats in Kherson area over past day

"Battlegroup Dnepr units conducted active counterbattery warfare and destroyed enemy drones, manpower and equipment on the right bank of the Dnieper River," Governor Vladimir Saldo said

French neo-Nazi ringleader liquidated near Avdeyevka — sources

There is confirmed evidence of his connections with French secret services

Erdogan’s May 9 visit to US postponed to more convenient date — Foreign Ministry

"The high-level dialogue between Turkey and the US will continue," the spokesman Oncu Keceli said

Serbia’s military neutrality unchanged despite buying jets from France — Defense Ministry

During his visit in Paris on April 8 and 9, President Aleksandar Vucic underscored that the cooperation with France is extremely important to ensure Serbia’s defense capabilities

TotalEnergies to announce force majeure for Yamal LNG in case of EU sanctions

The company has two contracts for LNG supplies to Europe from the Yamal LNG project and one for Asia that requires closer consideration, CEO of the French energy company Patrick Pouyanne said

Iran announces establishment of Basij voluntary naval force

According to the commander, the unit has already recruited 55,000 members and has 33,000 small vessels that are equipped with 107mm missiles

Russian diplomat accuses US of facilitating chemical warfare in Ukraine

According to Russian Permanent Representative to the OPCW Vladimir Tarabrin, Russian troops have repeatedly recorded incidents where the Ukrainian army’s used chemical weapons, including riot control agents as means of warfare

Putin’s inauguration to take place on May 7, senator says

According to the law, the president-elect takes office for six years

Kiev's attacks on ZNPP may trigger another Chernobyl — Zaporozhye governor

Tensions in the area of the Zaporozhye nuclear power plant and in Energodar, where the nuclear power plant is located, escalated at the beginning of the month

Israel ready to accept release of fewer than 40 hostages in deal’s first phase — newspaper

According to the report, Israel is willing to acceprt the release of women, men over 50 years old and those seriously ill

Gagauzia against Chisinau’s policy of severing ties with Russia

According to Yevgenia Gutsul, Gagauzia has never experienced such pressure from Chisinau

Blinken’s visit to China meant to shatter Russian-Chinese ties — senior Russian diplomat

"I think that Beijing understands this perfectly well and will not even pretend being ready to reach any agreements with the Americans to the detriment of Russia’s interests," Sergey Ryabkov said

Better situation for peace in Ukraine, threats to Belarus: new statements by Lukashenko

The head of state accused Washington of preparing a "Belarusian liberation army" and reiterated Minsk's readiness to "defend its country"

Swiss conference on Ukraine undermines European security — Russian diplomat

In Maxim Buyakevich words, neither the talks nor their outcome can change the existing political and territorial realities

Venezuela interested in Russia's participation in gold mining — official

"We want Russia to participate in exploration and mining of gold and coltan in the country," Venezuelan Minister of Industries and National Production Tarek El Aissami said

Palestinian death toll in Gaza increases to over 34,300 — health officials

According to the Palestinian enclave’s Health Ministry, over the past 24 hours, 43 people have been killed and another 64 wounded

Kremlin spokesman describes European Parliament as 'Russophobic machine'

Dmitry Peskov added that the EP "has turned into a machine brimming with internal contradictions that keeps generating boorish statements"

Shoigu talks about ties with NATO, attacks on Zaporozhye NPP as he attends SCO meeting

TASS has put together the highlights of Shoigu's speech

Russia warns US, NATO against harming its security — diplomat

Maria Zakharova stressed that "the level of nuclear risks have risen dramatically as a result of the West’s destructive policy, which is fraught with a direct military confrontation between nuclear powers"

Press review: US tries to strong-arm China and Zelensky's bid to bring men home

Top stories from the Russian press on Thursday, April 25th

Polish leader cautions NATO allies against provoking Russia

Andrzej Duda slammed the reported instances of Russian missiles entering Poland's airspace as "a Russian provocation"

Israel eliminates one of al-Jamaa al-Islamiya commanders in Lebanon — IDF

The strike was conducted by Israel Air Force’s aircraft in the area of Meidoun in Lebanon

Space station’s orbit raised by 1 km — Roscosmos

According to preliminary information, the average altitude of the orbital outpost was increased to 414.8 km above the Earth’s surface

Russia ready to cooperate with all interested partners to ensure security — Putin

The Russian leader expressed confidence that the the 12th International Meeting of High Representatives for Security Issues "will bolster cooperation for the mutual benefit of our countries and peoples"

Scholz asks allies to find additional air defense capabilities for Ukraine

Germany is the second largest arms supplier to Ukraine after the US

EAEU trade turnover reaches record high level of $8.7 bln in 2023 — Russian Prime Minister

The trade turnover between Russia and Belarus reached 4 trillion rubles ($43.8 bln)

Russia has many questions for UN chief, Russia’s envoy says

Vasily Nebenzya said that he has "good personal relations" with the secretary general

Russia’s natural population decline shrinks by 24% yoy in January-August — statistics

The Federal Statistics Service noted that mortality in the eight months of 2023 decreased by 9.8%, and the birth rate dropped by 2.5%

Putin’s trip to China will rivet world’s attention, Kremlin spokesman predicts

The countries will jointly announce the time of this trip, Dmitry Peskov said

Istanbul accords could have stopped hostilities in Ukraine — German newspaper

The deal still looks advantageous even after two years of war, Welt am Sonntag said

US effectively dooms Ukraine by its new decisions, Russian envoy says

"The American aid won’t save Zelensky. New weapons will be destroyed, and the special military operation goals will be achieved," Anatoly Antonov stressed

International cooperation needed to investigate Nord Stream incidents — Russian diplomat

According to Nebenzya, the real goal of the West, which is seeking to persuade the world of the futility of international efforts, is "to keep on telling the tale of lost time" as long as possible in a hope that "international community will forget about this terrorist attack"

SCO expects Belarus to join the organization very soon — Shoigu

The Russian defense chief is certain that "this is an important moment in strengthening security in the SCO space"

US nukes in Poland to become target for Russia should confrontation with NATO occur — MFA

"The impression is that Warsaw is maniacally seeking to attract even more attention from military planners in the Russian General Staff," Maria Zakharova added

About 20% of weapons sent to Kiev end up on black market – Russia’s UN mission

Dmitry Polyansky said that some of the weapons supplied to Kiev are "in the darknet, which means that it is available to anyone"

US stops hiding true purpose of sanctions on Moscow, Russian envoy says

"It’s not about any mythical aspirations to resolve the conflict in Ukraine, but about banal opportunistic and predatory ambitions," Anatoly Antonov said

Russia grateful to DPRK for unconditional support of special operation in Ukraine — MFA

Ivan Zhelokhovtsev said that the agreements that were reached during the DPRK leader's visit to Russia represent "evidence of the mutual desire of the sides to consistently implement and expand the rich heritage" that was passed down from previous generations

Potential nuclear facilities in Poland to be military target for Russia — senior diplomat

According to Sergey Ryabkov, discussions around the deployment of NATO nuclear facilities in Poland are an "unfolding story"

EU remains unreliable partner for Russia for now — Lavrov

Moscow hopes that Brussels will pay attention to its vital interests in the end, Russia's top diplomat said

Abrams tanks easy targets for drones — Russian expert

According to Dmitry Kuzyakin, "as long as there is a lack of direct communication between those who make the tanks and who use them, the Abrams will not evolve to meet modern warfare requirements"

Miguel Salgado’s ‘Shame’ wins main prize at Moscow International Film Festival

The film is focused on two teenagers Pedro and Lucio, who are forced to fight each other to the death in order to survive after being abducted

Staff shortage cannot be covered by labor migration — Putin

Labor productivity requires a significant increase in all sectors of the economy, the President stressed

Over 10,000 Polish nationals fought in Ukraine in 2022, politician says

According to Vladimir Rogov, expected changes in Poland’s legislation may highlight the country’s interests in Ukraine and its possible territorial claims to parts of western Ukraine

Press review: NATO flexes muscles near Russian border and South China Sea runs hot

Top stories from the Russian press on Wednesday, April 24th

China, US free to have their own friends, partners — President Xi

Beijing sticks to the principle of non-alignment with any blocs, the Chinese leader said and called on Washington "to refrain from teaming up in small groups"

Kiev may use ATACMS missiles to hit Crimean Bridge — Russian defense ministry official

Russian military will do its utmost to repel such attacks, Apty Alaudinov said

Bolivarian Alliance countries stand for multipolar world — Maduro

"ALBA can be among the founders of a new world, a new international multipolar order," the Venezuelan president stressed

Cooperation of Serbia, Russia in military-technical sphere at highest level — president

Earlier, Aleksandar Vucic expressed his admiration for Russian technology several times

One more suspect in Crocus City Hall terror attack arrested — police

The detention was reported earlier by the media, which said that police had captured Tajik national Djumokhon Kurbonov

Pelosi's remarks about US protesters undemocratic, Russian diplomat says

On April 25, US police said at least 127 people were arrested during large-scale protests on American university campuses against Israeli actions in the Palestinian enclave

Insurers refuse to pay compensation for Nord Stream — Russian envoy to UN

Vasily Nebenzya stressed that insurers conclude on their own that the "explosion at the gas pipelines was made using an explosive devices, willfully and due to political motives," thereby confirming its terroristic nature

US-oriented structures try to reformat security system in Asia-Pacific region

Russian Defense Minister Sergey Shoigu underlined that this is being done by strengthening "military-political structures such as QUAD, AUKUS and the US-Japan-Philippines triad"

Russian national Petrov arrested in Cyprus to appeal to Supreme Court — lawyer

On April 25, the court in Nicosia ruled to extradite Artur Petrov to the United States

Russian aerospace forces hit two terrorists base in Syria’s Homs governorate

Yury Popov, deputy chief of the Russian Center for Reconciliation of the Opposing Parties in Syria, also said that one shelling attack on the positions of government forces was reported in the Idlid de-escalation zone from positions of the Jabhat al-Nusra

Erdogan moves back from May 9 his trip to US — report

The report hasn’t been officially confirmed

Russia appreciates Bolivia’s push to defend sovereignty, Lavrov says

The Russian foreign minister said that the sides would exchange opinions on how to develop bilateral relations along the path outlined by Bolivian President Luis Arce and Russian President Vladimir Putin

Chances of Baku-Yerevan conflict settlement higher than ever, Scholz says

The German chancellor emphasized that Berlin's "offer to lend support in finding a long-term and acceptable solution remains valid"

Zelensky's presidential powers to expire May 21 — Ukrainian legislator

Alexander Dubinsky argues that the only situation where the president can continue to fulfill his duties after the expiration of his term is the period until the president-elected takes office

Press review: Belarus' new national security strategy and Russia, US butt heads at UN

Top stories from the Russian press on Friday, April 26th