Working Groups Materials (English Version)

Total Page:16

File Type:pdf, Size:1020Kb

Working Groups Materials (English Version) 32nd PLENARY SESSION OF THE FOREIGN INVESTMENT ADVISORY COUNCIL IN RUSSIA 15 OCTOBER 2018 Foreign Investment Advisory Council in Russia Thirty second Session, October 15, 2018 CONTENTS 1. ISSUES AND RECOMMENDATIONS OF FIAC WORKING GROUPS ............................................................... 3 1. Digital Economy and Innovative Technologies ........................................................................................... 3 2. Localization and Regional Development .................................................................................................. 13 3. Improvement of Tax and Customs Law and Administration .................................................................... 25 4. The Development of Consumer Market and Technical Regulation ......................................................... 43 5. Health Care and Pharmaceutical Industry Development ......................................................................... 51 6. Financial Institutions and Capital Markets ............................................................................................... 63 7. Natural Resources and the Environment ................................................................................................. 84 1 1. ISSUES AND RECOMMENDATIONS OF FIAC WORKING GROUPS Foreign Investment Advisory Council 1. Digital Economy and Innovative Technologies TOPIC 1. Digital economy (in the light of participation of FIAC member companies in the Digital Economy of the Russian Federation program approved by Directive of the Prime Minister of the Russian Federation No. 1632- r of 28 July 2017). Issue 1.1. Implementation of Directive of the Prime Minister of the Russian Federation (cl. 12) on the List of Directives of the Prime Minister of the Russian Federation No. DM-P13-7063 of 23 October 2017 regarding the identification of mechanisms for cooperation between Autonomous Non- Governmental Organization – Analytical Center under the Government of the Russian Federation, Autonomous Non-Governmental Organization – Digital Economy, and foreign companies in the implementation of the Digital Economy of the Russian Federation program. Following FIAC’s Plenary Session, including the report of Jean-Pascal Tricoire, Chief Executive Officer of Schneider Electric, France, on the role of leading innovation companies in creating an ecosystem to promote the growth and development of digital economies across Europe and Asia, the Prime Minister directed the Ministry of Digital Development, Communications and Mass Media (the “Ministry of Communications”) to draw up proposals on mechanisms for cooperation with foreign companies in implementing the Digital Economy of the Russian Federation program, as agreed with Digital Economy Autonomous Non- Governmental Organization (ANO Digital Economy) and the Analytical Center under the Government of the Russian Federation. This issue was raised by the Schneider Electric SE CEO to identify the best way of cooperation and integration of the world’s top technology companies into the Management System for the Digital Economy of the Russian Federation Program, newly established by Directive of the Government of the Russian Federation No. 1030 of 28 August 2017. FIAC member companies that expressed their strong interest in participating in the program to confirm it repeatedly in 2017-18 include ABB AG, Samsung, Schneider Electric SE and Siemens AG. On 15 November 2017, the Ministry of Communications was requested in writing to make FIAC member companies part of the project management office (PMO) and task forces set up under the Digital Economy program. No reply has been received as of 20 August 2018. As of 23 November 2107, the deadline set in the instruction, the Ministry communicated its official position to the Government of the Russian Federation: “To ensure cooperation with foreign companies in implementing the Digital Economy of the Russian Federation Program (the “Program”), it is advisable to establish a single platform for sharing experiences between leading foreign and domestic companies with competencies in digital economy, and to engage professionals from the Foreign Investment Advisory Council (FIAC). The objective of the Council is to assist the Russian Federation in creating and developing an enabling environment for investment based on global best practice and the experience of multinational companies operating in the Russian Federation. Further, to acquire and retain relevant competencies and increase the number of jobs in the Russian Federation, it is recommended to localize foreign technology and production in the Russian Federation and to involve foreign companies in the Program in accordance with the Russian Federation Government’s Decree No. 719 of 17 July 2015, On the Criteria for Classifying Industrial Products as Having no Equivalents Produced in the Russian Federation. In addition to the above, it is necessary to explore ways to develop a systematic approach to promoting domestic products and brands into international markets using best business practice and state aid mechanisms, primarily, for small and medium-sized businesses. It is necessary to study the possibilities to localize the production of foreign high-tech products contributing to the development of digital economy in the territory of the Russian Federation. This can be achieved by 3 using various tools, including a framework of legal and economic mechanisms to reduce interest rates on loans for upgrading and/or developing new production capacities that create or use cross-cutting technologies in the real sectors of the Russian economy. It is necessary to consider inviting foreign companies that create or adopt internationally competitive cross- cutting technologies to locate their production facilities in Russia on preferential terms, including tax credits.” On 2 March 2018, a meeting was held with the Public Administration Department of the Ministry of Economic Development to get an update on their position and explore solutions for establishing acceptable mechanisms of cooperation with foreign companies in implementing the Program. No progress has been achieved as of 27 August 2018. On 6 March 2018, FIAC sent a letter to Oleg V. Fomichev asking him to support the inclusion of Alexander V. Ivlev, Coordinator of FIAC’s foreign members, in the Program’s Project Management Office and the ANO Digital Economy task forces. The response was received on 23 August 2018 (Letter No. 329 addressed to Mr. Shipov). Recommendations: To enable efficient cooperation with foreign companies in implementing the Program, the Project Management Office and the ANO Digital Economy task forces should consider accumulating time-tested knowledge, solutions and FIAC member global best practices under FIAC to further transfer them to the Russian Government in the form of consultations and recommendations for the purpose of finding the best solutions supporting the performance of public administration functions. As for day-to day communications, these should be organized at the level of the ANO Digital Economy task forces and joint centers of competence established in collaboration with the FIAC Working Group on Digital Economy and Emerging Technologies (as represented by ABB AG, Samsung, Schneider Electric SE and Siemens AG) and focused on priority areas of Russia’s Ministry of Communications, with the engagement of experts in all events and the possibility of official exchange of information. In the light of the above and taking into consideration the proposal sent by ANO Digital Economy to the Ministry of Economic Development on 23 August 2018, as well as acting on the instructions of the Prime Minister of the Russian Federation to establish cooperation between FIAC and the Russian Government under the Digital Economy of the Russian Federation program, we recommend that the Ministry of Economic Development: 1. Support the proposal to include Alexander V. Ivlev, a coordinator on behalf of FIAC’s foreign stakeholders, as a permanent member of the ANO Digital Economy’s Task Force (formed on 31 January 2018) and the Center of Competence dealing with regulatory matters. 2. In response to the cooperation offer of 23 August 2018, ANO Digital Technology should approve the engagement of the FIAC Working Group on Digital Economy and Emerging Technologies (notably, representatives of ABB AG, Samsung, Schneider Electric SE and Siemens AG) in the work of special task forces of ANO Digital Economy’s Center of Competence dealing with the regulation of integration processes, building digital trust, Big Data, cyber physical systems, intellectual property, special regulatory regimes, standardization and labor law. TOPIC 2. Implementation or support of cutting-edge solutions (primarily government information monitoring systems) including Big Data marking, collection, processing and deployment systems Issue 2.1. Building a regulatory framework governing data processing by information system operators (ISO), including those holding the status of the Fiscal Data Operator (FDO), which collect, process and transfer data, as well as data commercialization and the liabilities of ISOs and FDOs for non-compliance. 1. Currently, Russian operators of information systems (Platon, Mercury, State Industry Information System, online terminals, etc.), including those holding the status of Fiscal Data Operators, collect and process vast amounts of data, including commercially confidential information, about manufacturers and service providers, including retailers.
Recommended publications
  • IMPORTANT NOTICE IMPORTANT: You Must Read the Following Before Continuing
    IMPORTANT NOTICE IMPORTANT: You must read the following before continuing. The following applies to the document following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the attached document. In accessing the attached document you agree to be bound by the following terms and conditions, including any modifications to them any time you receive any information from us as a result of such access. NOTHING IN THE FOLLOWING DOCUMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. ANY SECURITIES TO BE ISSUED WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE ‘‘SECURITIES ACT’’), OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR OTHER JURISDICTION, AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. THE FOLLOWING DOCUMENT MAY NOT BE FORWARDED OR DISTRIBUTED TO ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER, AND IN PARTICULAR, MAY NOT BE FORWARDED TO ANY U.S. PERSON OR TO ANY U.S. ADDRESS. ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS.
    [Show full text]
  • Conference Program Registration of Participants. Welcome
    Conference program Registration of participants. Welcome coffee 08:00-09:15 Official opening ceremony. Plenary session “Cooperation Between Business and the State: Outcomes and Outlook” 09:15-11:00 Moderator: Veronika Strizhak 5 TV Channel Anchor Head of the analytical program Speakers Valery GOLUBEV Deputy Chairman of Gazprom's Management Committee Elena MIKHAILOVA Member of the Gazprom Management Committee, Head of Department Vladimir MARKOV Member of the Gazprom Management Committee, Head of Department Olga DERGUNOVA Deputy Minister of Economic Development of the Russian Federation – Head of the Federal Agency for State Property Management Vladimir AFONSKY Deputy Chairman of the State Duma's Property Committee Irina BABUK Chairwoman of Committee for Investment of St. Petersburg Government Alexey STRUCHKOV Permanent Representative of the Republic of Sakha (Yakutia) under President of the Russian Federation Vitaly TUSHINOV Deputy Governor of the Vologda region Elena DYUKAREVA Vice-President of the Leningrad Chamber of Commerce and Industry 11:00-11:45 Coffee break Plenary session “Land-and-Property Relations: New Frames of Reference” 11:45-13:00 Moderator: Alexey Kharlamov Director General, Non-Profit Partnership for Efficient Asset Management Corporate Owners’ Club Speakers: Elena Chuguevskaya, Head of the Department for strategic and spatial planning at the RF Ministry for Economical Development Pavel Potapov Deputy Director of RF Federal Agency for State-Property Management Alexander Puzikov Deputy General Director for
    [Show full text]
  • Sectigo List of Jurisdiction of Incorporation/Registration Data
    Sectigo List of Jurisdiction of Incorporation/Registration Data Sources Version 1.0.5 Published: October 22, 2020 Note: ZZ is an internally defined country code meaning that the source may be used for multiple jurisdictions. Name Web Site Country State/Province (full name) Locality (Oficina de Marques i Patents del https://www.comerc.ad/la-unitat-comerc AD Principat d'Andorra) Government of Andorra Trade and Consumption Unit Government of Andorra https://www.govern.ad AD Register of Supervised Entities https://www.inaf.ad/ AD Ajman Department of Economic https://eservices.ajmanded.ae/ar/extensi AE Ajman Development ons/OnlineInquiries/ViewLicenseData Ras Al Khaimah Economic Zone https://eservices.rakez.com/auth/ AE Ras Al Khaimah Government of Ras Al Khaimah Sharjah Media City (Shams) https://www.shams.ae/license/verificatio AE Sharjah Media City n RAKEZ - Ras Al Khaimah Economic https://eservices.rakez.com/auth/ AE Zone Government of Ras Al Khaimah Creative City Fujairah https://www.creativecity.ae/ AE Abu Dhabi Global Market Authorities https://www.registration.adgm.com/ AE Department of Economic https://www.adbc.gov.ae/CitizenAccess/Welcome.aspxAE Development - Abu Dhabi Department of Economic https://eservices.dubaided.gov.ae/Pages/ AE Development - Dubai Anon/GstHme.aspx?lid=1 Department of Economic https://ded-e.uaq.ae/License_info/ AE Development - Umm Al Quwain Dubai Financial Services Authority http://www.dfsa.ae/Public- AE Register/Firm#authorised-firms Dubai Multi Commodities Centre https://www.dmcc.ae/ AE (DMCC) Government
    [Show full text]
  • Report on the Charitable Activity of the Elena and Gennady Timchenko Foundation Timchenko Elena & Gennady Timchenko Foundation Foundation Contents
    2015 REPORT ON THE CHARITABLE ACTIVITY OF THE ELENA AND GENNADY TIMCHENKO FOUNDATION TIMCHENKO ELENA & GENNADY TIMCHENKO FOUNDATION FOUNDATION CONTENTS Message from Elena and Gennady Timchenko .....................4 Working with the Foundation.............................................109 Message from Xenia Frank .....................................................6 Selecting grant recipients .............................................. 110 Message from Maria Morozova .............................................8 Open grant competitions ............................................... 110 The Foundation’s mission statement and values ................10 Non-competitive support ................................................111 Work programme ..................................................................11 Duration of project support ............................................111 5 years of work – facts and results ...................................... 12 Programme evaluation system ...........................................111 Key results in 2015 .............................................................. 16 Risk management ...............................................................112 Interaction with stakeholders .............................................112 Working with enquiries from the public .........................112 THE OLDER GENERATION PROGRAMME .......................18 Working with regional agents .........................................113 Society for all Ages Focus Area ............................................24
    [Show full text]
  • Gazprom Group's Sustainability Report 2019
    Working Gazprom Group’s Sustainability towards Report 2019 our common future Gazprom Group’s Sustainability Report 2019 Contents Message from the Chairman of the Gazprom 5.7. Supporting Sports Federations 181 Management Committee 5 5.8. Sponsorship of Business Events 182 Our Report 7 6. Our Responsibility to the Planet 183 Procedure for Defining Material Topics 10 6.1. Environmental Sustainability Management Stakeholder Engagement 15 and Environmental Control 185 Gazprom Group’s Contribution to the Achievement of UN SDGs 22 6.2. Combating Climate Change 194 6.3. Environmental Protection 211 1. Our Governance 41 6.4. Initiatives to Increase Employee Engagement 1.1. Sustainability Management 43 in Environmental Conservation 228 1.2. Corporate Governance 51 6.5. Environmental Information Transparency 229 1.3. Values, Standards, and Norms of Behaviour 54 6.6. International Environmental and Climate Cooperation 232 1.4. Quality Management 60 Appendices 233 2. Our Operations 61 Appendix 1. GRI Content Index 234 2.1. Mission and Strategy 63 Appendix 2. To Our Report section 250 2.2. Hydrocarbon Production and Reserves 74 Appendix 3. To Our Governance section 253 2.3. Hydrocarbons Processing 78 Appendix 4. To Our Operations section 257 2.4. Development of the Natural Gas Transportation System 82 Appendix 5. To Our Personnel section 263 eport 2019 R 2.5. Hydrocarbon Sales 85 Appendix 6. To Our Workplace Safety section 266 2.6. Natural Gas Vehicle Fuel Market Development 94 Appendix 7. To Our Responsibility to the Planet section 268 2.7. Heat and Electricity Generation 99 Appendix 8. Glossary of Abbreviations and Code Names 2.8.
    [Show full text]
  • The Financial Strategy of Russia: Heading for Growth
    ИФИ АВИЕВ ИИ В THE FINANCIAL STRATEGY OF RUSSIA: HEADING FOR GROWTH PROGRAMME* ИФИ АВИЕВ ИИ В Powered by TCPDF (www.tcpdf.org) SEPTEMBER 23, 2016, MOSCOW THE FINANCIAL 9 Ilyinka St., Moscow, 109097, Russia www.ff.msk.ru STRATEGY OF RUSSIA: * The Programme is subject to changeHEADING FOR GROWTH PROGRAMME* SEPTEMBER 23, 2016, MOSCOW 9 Ilyinka St., Moscow, 109097, Russia www.ff.msk.ru * The Programme is subject to change DEAR FRIENDS AND COLLEAGUES, The last few years have tested the viability of the Russian economy. It may now be said to have adapted fully to the new conditions and we are entering a new stage focusing on structural reforms to speed up growth and ensure the long-term sustainability of the national economy. In order to unite the efforts of the government system, business and the expert community in achieving this, the Ministry of Finance of the Russian Federation has initiated holding an annual Moscow Finance Forum, co-organized by the Moscow City Government. The first Forum, to be held on September 23, 2016 at the Manege Central Exhibition Hall, will be devoted to “The Financial Strategy of Russia: Heading for Growth”. Moscow was chosen as the Forum venue because the capital city is the biggest financial centre in both the country and the whole of Eastern Europe and, of particular interest to the Forum participants, has experience of ensuring financial stability and promoting economic growth by fiscal policy methods. The Forum will bring together federal and regional government officials, representatives of relevant state structures, heads of Russia’s biggest companies, leading economists and experts, as well as public and political figures.
    [Show full text]
  • Social Responsibility and Corporate Sustainability Report
    2014 Social Responsibility and Corporate Sustainability Report 1 Federal of Unified Formula Grid Company Energy System for Corporate Sustainability 2014 Social Responsibility and Corporate Managing Economic Contribution to the Environmental Sustainability Report Impacts Development of Society Impacts + + Federal Grid Company’s formula for corporate sustainability is based on three key components — aspects of corporate social responsibility: managing economic impacts, contribution to Social the development of society, and environmental Responsibility impacts. Constant focus on the above aspects enables us to meet all our commitments to stakeholders. 2 3 Contents Key Performance Indicators 6 5. Special Areas of CSR 6.3. Managing 112 Appendices Environmental Impacts 2014 Key Events 8 Management Appendix 1. 141 61 6.3.1. Environmental Impact 112 12 5.1. Ensuring Reliability and Implementation Statement from the Chairman Management System of the Company’s CSR of the Management Board Uninterrupted Operations of UNEG 6.3.2. Environmental 117 and Sustainable About this Report 14 Performance Developmnet Plans 5.2. Energy Efficiency and 71 and Commitments in 2014 16 Awards and Achievements Energy Management Appendix 2. GRI G4 Content 144 5.3. Import Substitution 76 7. Stakeholder Index – Electric Utilities Sector Supplement 1. About our Company Engagement 154 125 Appendix 3. The List 1.1. Company Profile 19 7.1. Stakeholders and of Specially Protected Stakeholder Engagement 1.2. Company’s Role within 26 6. Core Areas in Sustainable Natural Areas where Mechanisms Federal Grid Company Стратегия Технологии Управление Персоналthe Industry and Region Development 133 Operates 79 7.2. Public Hearings 6.1. Managing Economic on 2014 Report Impacts Appendix 4.
    [Show full text]
  • Ended Intergovernmental Working Group on the Prevention of Corruption (Vienna, 27 -29 August 2012)
    Information materials on issues to be discussed at the third meeting of the Open -ended Intergovernmental Working Group on the Prevention of Corruption (Vienna, 27 -29 August 2012) The Presidium of the Council of the President of the Russian Federation for Countering Corruption has decided to establish a working group on issues of joint participation in countering corruption between representatives of the business community and State agencies attached to the Presidium of the Council of the President of the Russian Federation for Countering Corruption, which is chaired by the Minister of Economic Development of the Russian Federation, Ms. E. S. Nabiullina. The main purpose of setting up the Working Group is to provide for the practical participation of business representatives in the activities to counter corruption being undertaken by federal State agencies. It has been determined that the first task of the Working Group will be to develop measures to counter corruption in the business and investment fields, which will enable the business community to make its own contribution to anti-corruption work, including the question of how to eliminate the risks of corruption that can arise in the course of conducting business. The Working Group is made up of representatives of federal State agencies and of leaders of the “big four” associations of the business community — the Chamber of Commerce and Industry of the Russian Federation, the Russian Union of Industrialists and Entrepreneurs, the national organization Delovaya Rossiya (“Business Russia”) — and the national organization of small and medium-sized businesses, Opora Rossii (“Support of Russia”). In line with the approach chosen to fit in with the Working Group’s meeting schedule, each of these business associations has been assigned the task of considering the relevant issues and putting forward proposals on them.
    [Show full text]
  • Annual Report 2019
    Annual Report 2019 The ROSSETI Group is the backbone power grid company of the country www.rosseti.ru/eng/ Report Approval Information The Annual Report received prior approval from the Annual General The reliability of information contained in this Report was confirmed Meeting of Shareholders of ROSSETI on June 1, 2020 (Minutes of the by the Internal Audit Commission of the Company (Minutes of the Meeting № n/n of June 1, 2020). Meeting No. 5 of April 16, 2020). The Annual Report received prior approval from the Board of Directors of ROSSETI on April 30, 2020 (Minutes of the Meeting No. 410 of April 30, 2020). Brief Information on the Report This Annual Report includes a review of the operating results and Until 2024"1 and under the Development Strategy 2030 approved by highlights of Public Joint Stock Company ROSSETI and its subsidiaries the Board of Directors of ROSSETI in late 2019, the Annual Report dis- (collectively, the ROSSETI Group) for 2019. closes the Company’s goals and priorities, operational performance Subject to the President’s Decree "On the National Goals and Strategic in the reporting year in comparison with prior periods, corporate Objectives of Development of the Russian Federation for the Period governance and risk management, and sustainable management ap- proaches consistent with implementing digital transformation. This Annual Report was prepared in accordance with: → Federal Law No. 208-FZ of December 26, 1995, "On Joint-Stock Managing Joint-Stock Companies Whose Shares Are Federally Companies"; Owned and Federal State Unitary Enterprises"; → Regulations for the Disclosure of Information by Issuers of Is- → Corporate Governance Code recommended by the Bank of Rus- sue-Grade Securities (approved by the Bank of Russia on Decem- sia’s letter No.
    [Show full text]
  • Website Version Migration Perspectives
    Planning and managing labour migration OCTOBER 2006 Edited by Roger Rodríguez Rios This publication was made possible by funding from the Bureau of Population, Refugees, and Migration at the U.S. State Department. IOM is committed to the principle that humane and orderly migration benefits migrants and society. As an intergovernmental body, IOM acts with its partners in the international community to: assist in meeting the operational challenges of migration; advance understanding of migration issues; encourage social and economic development through migration; and uphold the human dignity and well-being of migrants. Publisher: International Organization for Migration Technical Cooperation Centre for Europe and Central Asia Nibelungengasse 13/4 A – 1010 Vienna Austria Tel.: + 43.1.585 33 22 12 Fax: + 43.1.585 33 22 30 E-mail: [email protected] Internet: www.tcc.iom.int ___________________ Migration Perspectives: Eastern Europe and Central Asia, 2006 (English version) Copyright 2006 International Organization for Migration (IOM) ISBN: 978 92 9069 250 9 ___________________ Cover: Richard Scott- http://www.darkrainbow.net All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form by any means electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the publisher. Opinions expressed in this work are those of the authors and do not necessarily reflect the view of IOM. Acknowledgements This publication was made possible by funding from the Bureau of Population, Refugees, and Migration at the U.S. State Department. The editor would like to express sincere gratitude to the authors participating in this volume, both for their hard work and for their courage in raising several important, yet contentious, issues in their articles.
    [Show full text]
  • Putin's Peninsula
    Putin’s Peninsula: Crimea’s Annexation and Deterioration Russia Studies Centre Policy Paper No. 4 (2015) Dr Andrew Foxall The Henry Jackson Society March 2015 PUTIN’S PENINSULA Summary Russia’s annexation of Crimea, in March 2014, was the first major land Grab in Europe since World War Two. After a pro-Russian Government was toppled in Kyiv, Russian troops – without identifyinG insiGnia – beGan fanninG out across Crimea in a covert operation to seize control of the peninsula. It is a dramatic example of Russia’s ability to carry out a hybrid war. President Putin has pledged to spend US$18.2 billion (620 billion roubles), throuGh to 2020, on developinG Crimea. However, Russia’s economic weakness, combined with the Western sanctions reGime and the fall in the Global price of oil, means that it is unlikely that the country can afford such expenditure without compromisinG lonG-term fiscal stability. Since Russia’s annexation of Crimea, a whole host of neGative developments have been witnessed on the peninsula: organised crime has become widespread; paramilitary Groups closely associated with the authorities have raided myriad private enterprise and forcibly renationalised property; the bankinG system has taken a beatinG; human riGhts protections have been severely curtailed; and, independent media outlets have been closed down. So lonG as Russia continues its illeGal occupation of Crimea, EU and US sanctions must remain in place. The EU and US must also ensure that Crimea remains hiGh on the international aGenda and firmly in the public eye. 2 PUTIN’S PENINSULA 1. Introduction Since Russia’s annexation of Crimea, in March 2014, the peninsula has chanGed.
    [Show full text]
  • 2. VTB Market Position
    World Without Barriers. VTB Group Content Mission and values 4 5.3. The General Shareholders Meeting of JSC VTB Bank 80 5.4. The Supervisory Council of JSC VTB Bank 82 Statement of the Chairman of the Supervisory Council 6 5.5. The Management Board of JSC VTB Bank 98 Statement of the President and Chairman of the Management Board 8 5.6. Remuneration of the members of the Supervisory Council 1. Financial highlights 10 and the Management Board of JSC VTB Bank 103 5.7. Internal control and audit 103 2. VTB’s market position 14 5.8. Investor relations 110 3. The economy and banking sector 17 5.9. VTB Group governance system 115 4. Management report 22 6. Corporate social responsibility 118 4.1. Key events in 2013 22 6.1. Personnel 118 4.2. VTB Group strategy 23 6.2. Responsible resource management 122 4.3. Review of operating performance 30 6.3. Social programmes 123 4.3.1. Corporate and investment banking 30 7. Management responsibility statement 126 4.3.2. Retail banking 39 4.3.3. Other businesses 52 8. Summary consolidated financial statements in accordance with IFRS 127 4.3.4. Business outside of Russia 54 9. Other information 138 4.4. Review of financial performance 58 9.1. Details of JSC VTB Bank 138 4.5. Risk management 66 9.2. Contact information 139 5. Corporate governance 78 10. Shareholders information 142 5.1. Overview of the corporate governance system 78 5.2. Development of the corporate governance system in 2013 79 Mission and values Mission Versatility.
    [Show full text]