-Recession warning for Russian economy due to sanctions
Despite the positive sentiment in the Russian economy due to rising oil prices, concerns over tightening sanctions continue to be one of the most discussed topics in the country.
The head of the Chamber of Accounts Alexey Kudrin, who is also known as one of the closest economy advisors of Russian President Vladimir Putin, warned of the recession risk.
During a meeting of the Russian Union of Industrialists and Entrepreneurs in Moscow last week, Kudrin cautioned that the Russian economy could enter a recession if sanctions get tougher.
"If the sanctions harden, the goals set by Putin would become unattainable in many respects and our economy may fall into recession,” Kudrin stressed, advising that Russia’s foreign policy soften due to risks arising from sanctions.
The Russian economy, which grew by 1.7 percent last year, is expected to grow by between 1.8 and 2 percent this year.
-TurkStream construction on schedule
Russian Energy Minister Alexander Novak announced that as of Jan. 1, 2020, gas shipments would start from the two TurkStream lines.
In an interview with Russian news channel Rossiya 24, Novak evaluated the latest developments regarding the gas pipeline project, the construction of which he confirmed was proceeding on schedule, and said, "As of Jan. 1, 2020, delivery of 31.5 billion cubic meters of natural gas via the two lines of TurkStream can be started."
He added that “Our priority among the routes for the extension of the second line is to Austria over Bulgaria."
The head of the Russian energy company Gazprom, Alexey Miller, said in a statement last week that the construction of the section of the gas pipeline project would be completed within two months.