Daily economical review 11.08.2023

We invitation you to a subjective overview of the regular economical review of information from Russia.

And in today's account:

Short notice.

• Russia has launched an interplanetary automatic station Łuna-25 to the Moon – for the country it is the first expedition to the Earth satellite in almost 50 years. The mission was scheduled to take place in 2015, but was postponed respective times.The station should land from 21 to 24 August.
• A Russian Federation education monk Sergei Krawtov said that the first batch of fresh past textbooks for grades 10-11 with a section on a peculiar military operation would be delivered first to the Sakhalin region.
• A typical of the Chief Intelligence Board of the Ministry of Defence of Ukraine, Andrei Jusov, admitted that the Shaman Battalion, which is considered a unit of peculiar forces of the Chief Intelligence Board, carries out diversionary attacks in Russia.
• The naval forces of Ukraine have announced the beginning of temporary corridors for merchant ships flowing to or after Ukrainian ports on the Black Sea. It has been determined that, in particular, routes will be utilized to let the departure of civilian ships located in the ports of Montenegro, Odessa and the already existing ports
• Bloomberg placed ruble in the top 3 worst currencies of developing countries.

1. We have another message from the prof. of Economics present Steve Hanke.

The sharp drop in the ruble value drives INFLACY in ROSJI. Today, I measurement Russian inflation at 63% per year, more than 19 times the authoritative Rosstat rate of 3.25% per year. The prof. is simply a lecturer at John Hopkins University in America.

So we have a duel for the data. And as the economy of Russia, we are inactive reminding that we have estimated 25-30% inactive recently. But at this point, due to the fact that it's been a period we can change the board to 30% or possibly 35%?

Worse still, this year's key interest rate can become two-digit.

To reduce the rate of price increase, the regulator will gotta rise to 10-10.5% by the end of the year. However, more and more, most Russian experts are convinced that the Central Bank Board of Directors will rise the rate to a two-digit level at the next gathering on 15 September: at least 1.5 percent points . This in turn can reduce the rate of price growth, although it does not have to.

Why do we say it in Cepa today?

any foretell even higher economist Sergei Grishunin:

"We presume that this time the rate will be raised rather sharply – by 2 percent points, to 10.5%

2.Microsoft will halt renewing software licenses.

Microsoft's software will cease to be renewed for Russian companies after 30 September, as stated by TelecomDaily.

Due to the restrictions on payments to local bank accounts in Russia, Microsoft will no longer accept payments for its services. The company has announced that existing subscriptions will apply until the end of their period, but will not be extended after that date.

Earlier, in 2022, Microsoft stopped selling fresh products in Russia after the conflict in Ukraine. fresh events propose that Russian representations of global companies and legal entities that were not subject to sanctions were allowed to extend their licenses to corporate software.

Let's talk about what the Russians might lose:

Microsoft Windows: – Operating system.

Microsoft Office: Office package containing text editing programs, spreadsheets, presentations and more specified as Word, Excel, PowerPoint, Outlook and others.

Microsoft Outlook: An application for email, calendar and contacts management. frequently utilized as a message client in companies.

Microsoft OneDrive: A cloud service to store and share files online. It integrates with another Microsoft programs.

Microsoft Teams: A platform for communication and squad cooperation. It offers chats, video conferencing, file sharing and many another features.

Microsoft Azure: Cloud platform for hosting applications, storing data and providing different services to companies.

Microsoft Edge: A Microsoft web browser that replaced net Explorer. It offers speed, safety and various tools for working online.

And a gem for Xbox players – Xbox Live, Xbox Store, etc. The ability to buy a subscription to play games from what I realize will besides disappear.

2b Google Workspace not for Russian companies

On the night of August 10, Google began massively blocking corporate services of Google Workspace (company mail, Google Documents, Google Drive, etc.) for Russian sanctioned companies. "After blocking services, employees of companies cannot access corporate mail, usage electronic paper management via Google Documents, thus risking financial and image losses, almost all crucial papers and correspondence stay in Google's corporate memory"

3. Not a million not 400,000 and 25,000 tons freecereals

Russian agriculture minister Dmitri Patruszew said the Russian Federation would hand over 25 to 50,000 tons of grain to six African countries. During the Russia-Africa Summit, Russian president Vladimir Putin announced free deliveries of 25-50 1000 tons of grain for Burkina Faso, Zimbabwe, Mali, Somalia, the Central African Republic and Eritrea in three-four months.

"As our president said, in addition to being a reasonably reliable partner in supplying grain to the planet market, we will besides supply grain to African countries free of charge. To date, we are talking about six countries and quantities of between 25 and 50 000 tonnes, "Patrushev said.

4. The largest Russian net colossus Yandex wants to leave Russia.

The concept of the nationalization of Yandex one more time sparks interest in the Kremlin, as the discussion on the division of the largest Russian net company weakens. abroad shareholders are reluctant to sale their shares to sanctioned billionaires, making the process difficult.

The state sector has proposed that abroad shareholders of the Dutch holding structure Yandex NV, controlling Yandex, waive payment. Reuters reports that the Kremlin is considering this scenario, although it fears that specified a step, equivalent to de facto nationalization, may lead to the escape of talent from the country.

Earlier, Yandex, via Yandex NV, was controlled by Arkady Volozh, the founder of the company, and its management. However, after the sanctions imposed on Volozh, the company's management took control of his shares. The Kremlin planned to divide Yandex into 2 separate companies, retaining key services in Russia. Billionaires Vladimir Potanin, Alexey Mordashov and Wagit Alekperov are considered possible investors.

Transaction negotiations are deadlocked due to the fact that abroad shareholders fear they will not receive payments from Russian billionaires sanctioned. Although the Kremlin has an arrangement to approach the substance more decisively, it does not want to hazard losing key Yandex employees.

The company employed over 20,000 people in early 2022, many of whom moved to Serbia after the invasion of Ukraine. The threat of further talent drain prevents the Kremlin from extremist action. People are a key resource of Yandex, and there is simply a fear that their departure could lead to the collapse of the company in the event of nationalisation or acquisition by a state company.

It's inactive interesting. Co-founder Yandex Arkady Volozh publically condemns the invasion of Ukraine We besides have his very interesting message that I will quote:

“I have been asked quite a few questions over the past year, but especially this week. I want to make my position clear and I compose it in English and Russian, due to the fact that I want all parties to hear it.

My View of War

Russia's invasion of Ukraine is barbaric and I am categorically opposed to it. I am terrified of the destiny of people in Ukraine – many of them are my friends and relatives – whose homes are bombed daily.

Although I moved to Israel in 2014, I must presume any work for the country's actions.

My Yandex story

I'm known as 1 of the founders of Yandex. In our heads, erstwhile we started it, we weren't just creating a technology company. We helped make a fresh Russia – an open, progressive, integrated into the global economy and capable of bringing into the planet values beyond natural resources.

Yandex was created thanks to an incredible engineering and technological talent that we managed to attract, halt and cultivate.

We were not the only ones who built this fresh Russia. Many another Russian entrepreneurs, scientists and others who could leave Russia in the 1990s decided to stay and build the country we wanted to see. It was the only chance in life. Many global companies, businessmen and entrepreneurs came to Russia to be part of this.

Over time, it became increasingly clear that the hope of building a globally integrated Russia is becoming increasingly hard to realise. At the same time the company was under pressure. But we didn't give up, we did our best, even erstwhile the environment got harder. Was there always a right balance? In retrospect, I realize that any things could have been done differently.

What have I been doing for the last year and a half?

In 2014, I moved to Israel to make global company projects. But in February 2022, the planet changed and I realized that my function in Yandex past was over.

From the beginning of the war, I focused on trying to support talented Russian engineers who made a decision to leave the country. It was an highly complex process that helped these engineers start a fresh life. It required focus, care and discretion.

These people are already at large and are able to start something new, inactive driving technological innovation. They will be a large asset to the countries in which they will land.

* * Oh, * *

There were reasons to stay silent during this long trial. Although there will be questions about the time of my message today, there should be no questions about its substance. I'm against the war.

6. Russian officers will be tried for mistakes in resisting attacks by the Armed Forces of Ukraine

The Moscow court will consider the first criminal case for violation of the rules of combat work to counter an unexpected attack in Russia against 2 Russian Armed Forces officers. The paper reports it. ‘Kommiersant‘.

Lieutenant-Colonel Anatoli Bondariev and Major Dmitri Dmitrikov were incapable to prevent the firing by the Armed Forces of Ukraine of their units and ammunition composition in the region of Belgorod, resulting in the deaths of 7 soldiers and the demolition of 15 units of various military equipment.

According to the Kommierant, the case is likely to take place behind closed doors. The criminal case against officers was transferred to the 2nd Western territory Military Court. They are accused of committing a crime in accordance with Part 2 of Article 340 of the Russian Criminal Code, i.e. violating the rules of combat work to detect and defy an unexpected attack on the Russian Federation.