Russia loses billions and the chances for modernization

Instead of the economic development the Russians have been given 15 minutes of happiness in front of the TV. At least, every day. 
01.01.2015
Znak
Origin source
When West first announced the introduction of sanctions against Russia, the pro-Kremlin bloggers have started a propaganda campaign in the style of "your authorization to us uneasy, give more." On the rear windows of cars Russian inscriptions appeared offensive about Barack Obama, and TV presenter Dmitry Kiselev said that Russia can optionally turn America into a nuclear ash.

The reality is that until recently broke on the television screens and was unknown to the majority of Russian citizens, was much more difficult. In a number of state-owned companies, have come under the sanctions, multibillion deal broke down, and previous investments are useless.

One such project was the "South Stream", which Russia is now going to give up. Over the past three years, "Gazprom" has spent on the "South Stream" $ 4.66 billion. In 2014, the gas monopoly was going to invest in the project 135 billion rubles. As reported in the beginning of October, the total cost of the pipeline was to be € 23.5 billion ($ 29 billion).

Affected projects and subsidiaries of the gas monopoly. May 18, 2014 thand the company "Gazprom drilling" office received a letter from the Moscow office of Halliburton. It informs about the American company "suspension of relations" with the Russian customer. If we talk about the transactions amounts, then this year, according to Barclays Capital analysts, working in the Russian oil and gas companies had to spend $ 51.7 billion on exploration in the country. A large part of these funds would have gone to pay for services from companies such as Schlumberger and Halliburton . According to the Energy Ministry, foreigners in Russia accounts for up to 15% of the services market, and for some services - up to 70%. Foreigners lost earnings, and the Russian raw material companies - they need services.

"Rosneft" has suffered stronger than others. The company was forced to ask for money from the state, because of the sanctions the US banks can not provide it with loans more than 90 days, and the net debt of "Rosneft" at the end of June (the moment of recourse) amounted to 1.5 trillion rubles. The debt after the purchase in 2013, TNK-BP for $ 54 billion. For a total of $ 3 Under this deal the company issued credit from a pool of international banks1 billion.

Disrupt and important deal: US regulators have banned "Rosneft" to buy oil trading business at Morgan Stanley company. Delayed and closing of the transaction on "Rosneft" buying a stake in North Atlantic Drilling Norwegian drilling company from its parent company Seadrill. Two rigs NADL, who contract with Rosneft had to start drilling next year, may be directed to other projects. Also, the deal fell through "Rosneft" company Vitol and the supply of raw materials. The largest independent oil trader Vitol for months to attract financing for prepaid deliveries of oil worth about $ 2 billion, but after the introduction of financial sanctions against Russian companies the corporation decided to withdraw from the contract with "Rosneft".

The American company ExxonMobil and "Rosneft" terminated the contract for the rental of vessels with Norwegian netfeservisnym Siem Offshore now because of the sanctions. It is reported by Bloomberg. The Court were to be used for the exploration of the Arctic shelf in the Kara Sea.

According togentstva, the contract was valid for 2015. It consisted of two serving the ship and the ship oil platform supply. For the termination of the contract is a penalty, its size is not specified. In addition, in the autumn it became known that "Rosneft" and ExxonMobil stopped drilling on the shelf because of the US sanctions against Russia. It was on the platform, "University", the development of which has been invested about $ 700 million.

Suspended and cooperation Total French oil company "Lukoil" in the Khanty. It was assumed that Lukoil will be 51% in the joint venture with Total to develop the Bazhenov Formation in Western Siberia. Within two years, the company expected to jointly invest $ 120-150 million in exploration work.

I lose money and the defense industry. France delays the delivery of the Mistral helicopter carriers. The total amount of contracts between "Rosoboronexport" and the French state company DCNS is € 1.2 billion, Russia has paid him more than 880 million euros.

The contract to build two Mistral helicopter type was signed in 2010, etc.its conditions of delivery of the first ship "Vladivostok" has been scheduled for 1 November this year. However, after the introduction in August of sectoral sanctions against Russia because of the situation in Ukraine, French President Francois Hollande has made a political decision to suspend the transfer of the ship to the end of November, although no action to change the terms of the contract or break the French side did not undertake.

Manufacturer Tank equipment and wagons "Uralvagonzavod" has terminated its relationship with the US Caterpillar company and Canadian Bombardier because of EU sanctions, which were touched Russian banks. Partnership "Uralvagonzavod" with Caterpillar includes the development and construction of the main Russian locomotives. With the planned launch of Bombardier trains for the production of the Moscow metro.

In the first half of 2014, immediately after the events in the Crimea and the Donbass, the first time in five years, no Russian company has not received credit in US dollars, Swiss francs or euros (Bloomberg data). They began to leave not only lenders but also investors in non-primary sectors: the fall was izveknown, is that the industry of innovation in Russia has already lost $ 50 million investment because of the sanctions (the data of the National Association of Innovations and Development of Information Technologies (NAIR). The losses, according NAIR, caused mainly by the outflow of potential investors, as well as the suspension of cooperation programs in the field of innovation with countries that support sanctions. The damage caused by the sanctions is about 5% of the natural decline in investment caused by the global crisis.

The loss of the Russian economy due to the sanctions of the West, which accuses Russia of illegal annexation of the Crimea and aggressive policy in the Donbass, has made tens of billions of dollars.

If almost all of 2014 was primarily a year of foreign policy for Russia, then in December there was a sharp turn in the direction of the economy. Znak.com already published material on how Russian kontrsanktsii affected simple consumer purse - rose prices1 on basic products; after the new year will rise in price of new.

In the last week of December, it was found that the introduction ofSanctions have a direct bearing on the lives of ordinary citizens. Lost profits of state companies, convulsive currency purchase to pay loans to foreign banks, according to the ex-Finance Minister Alexei Kudrin, have become important causes of the catastrophic decline of the ruble. This can have a direct impact on the price rise not only on products, but almost all the trading positions. All will suffer.

The Russians offered with our heads held high to bear the difficulties for the happiness of living in a country that defies worldwide. While the world wins: the West is not a consumer, Banking and monetary panic, do not go to mass layoffs in state-owned companies - at least not in such numbers. Large-scale projects, which in theory could make Russia a great country in the non-primary sector, collapsed - leaving investors, the state is busy saving a large, mostly raw materials business.

The social contract of government and society "well-fed life in exchange for stability" destroyed: the Russians were asked to give both stability and full life back into caringstate hands, in return offering fifteen minutes of happiness per day in front of TV.

Next year will be a test for the people of Russia to self-esteem. Are we considered a new social contract humiliating? Are we to argue with the state, defending its own interests?