Russian Financial Control Monitor

MOSCOW. The current tariff manual, a price list for freight services of the state-owned monopoly Russian Railways, needs to be revised, Federal Anti-Trust Service head Igor Artemyev told the media. According to Artemyev, the manual is not substantiated or balanced sufficiently well and its rates obviously reflect the influence of lobby groups. He said it should have long been replaced with a new document. Artemyev added that many grocery retailers deliver vegetables from the southern Krasnodar Territory to Novosibirsk by trucks, which has become cheaper than deliveries by rail.

MOSCOW. Standard & Poor's Ratings Services has assigned its BB/B long- and short-term counterparty credit ratings and ruAA Russia national scale rating to non-state bank Promsvyazbank (PSB). The outlook is stable. We believe that PSB has an adequate business position, moderate capital and earnings, a moderate risk position, average funding, adequate liquidity and moderate systemic importance in Russia, S&P said.

2023-10-08 11:42:18