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BUSINESS
February 10, 1992 | From Times Staff and Wire Reports
Oil Exports Plunge in Former Soviet Union : Oil exports from the former Soviet Union, the world's largest producer, slumped to 53.9 million metric tons in 1991 from 99 million in 1990, Interfax news agency said. Year-to-year exports of petroleum products also dropped to 21.9 million metric tons from 27.5 million, according to the Russian news agency. Output has fallen steadily for the last three years because of antiquated equipment, work stoppages and the lack of hard currency for investment.
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BUSINESS
February 10, 1992 | From Times Staff and Wire Reports
Oil Exports Plunge in Former Soviet Union : Oil exports from the former Soviet Union, the world's largest producer, slumped to 53.9 million metric tons in 1991 from 99 million in 1990, Interfax news agency said. Year-to-year exports of petroleum products also dropped to 21.9 million metric tons from 27.5 million, according to the Russian news agency. Output has fallen steadily for the last three years because of antiquated equipment, work stoppages and the lack of hard currency for investment.
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NEWS
November 10, 1991 | NORMAN KEMPSTER and STANLEY MEISLER, TIMES STAFF WRITERS
U.S. officials are expressing increasing concern that the Soviet Union's extensive inventory of defense technology--including nuclear weapons hardware and expertise--may soon go on the world market as a new class of opportunistic capitalists try to turn a fast profit from superpower disintegration. Echoing a theme that has been discussed privately among U.S.
NEWS
March 29, 1990 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
Soviet lawmakers wanted to know: What did the prime minister know about a mysterious and huge arms scandal, and when did he know it? Like a similar question from U.S. political history, the query may someday be as well remembered as the answer.
BUSINESS
May 15, 1990 | From Reuters
The Soviet Union on Wednesday is likely to win observer status to the world trade body GATT--a first step to full membership, sources said Monday. The decision will be made by the ruling council of the General Agreement on Tariffs and Trade, which sets rules for 90 percent of world trade. President Bush supports moves to integrate the Soviet Union into the world economy.
NEWS
July 25, 1988
Industrial production and trade in the Soviet Union both rose in the first six months of this year, the government reported. Figures issued by the State Statistics Committee and published in the official media showed that industrial production rose 4.7% in the period, while trade was up 5% to $110.8 billion, compared to the same period last year. Despite the gains, "the restructuring of foreign economic activity is being accomplished too slowly," the report added.
BUSINESS
March 2, 1988
It's outrageous to have the FBI imply that any San Diegan who invites a Soviet artist, athlete, academician or other visitor to stay at his home while in San Diego is helping to spy on the United States. Since the summit meetings with Soviet leader Mikhail Gorbachev, the Administration from President Reagan down has called for people-to-people visits between us and the Soviets to improve our relations and promote peace. Is the FBI trying to chill and kill this effort? SARAH GOULDIN San Diego
NEWS
July 5, 1989 | MASHA HAMILTON, Times Staff Writer
The Soviet Union's new, independent-minded legislature for the first time Tuesday voted to boot a deputy premier out of his job, despite a last-minute change in rules aimed at pushing through the Kremlin's choice to steer foreign economic policy. The vote served as proof, if the Soviet leadership needed it, that political maneuvering may not be enough to get an appointee through the current Supreme Soviet.
BUSINESS
September 11, 1991 | JAMES FLANIGAN
Will the Russians and Ukrainians, Uzbeks and Armenians and all the other peoples of the Union of formerly Soviet, formerly Socialist, Republics go hungry this winter? No, probably not. But that's the fear among Western governments. President Bush in June authorized $1.5 billion in emergency loan guarantees so the Soviets could buy U.S. grain and food supplies. About $600 million of those guarantees have been taken up by European banks financing Soviet purchases of U.S.
NEWS
September 8, 1991 | MICHAEL PARKS and TYLER MARSHALL, TIMES STAFF WRITERS
Despite the secession of the three Baltic states from the Soviet Union and moves toward independence by other republics, Russian Federation Prime Minister Ivan S. Silayev said Saturday that they will quickly pull together again to form a common market similar to the European Community.
BUSINESS
September 4, 1991 | JAMES FLANIGAN
The trouble with a lot of the expert analysis on the breakup of the Soviet Union is that it gives too much credit to bureaucracy and too little to the human spirit. "It is feared that the Soviet republics could become economic basket cases," say Washington foreign policy officials--as if 70 years of Moscow central planning hasn't made them basket cases already. One could imagine such experts in 1776 condemning the American colonies for breaking away from the British empire. But some savvy U.S.
NEWS
July 19, 1991 | MICHAEL PARKS, TIMES STAFF WRITER
Despite President Mikhail S. Gorbachev's commitment to move the Soviet Union to a free-market economy, the men who run the world's most powerful capitalist countries doubt that, after seven decades of socialism, he knows how to do it.
BUSINESS
June 29, 1991 | From Associated Press
Members of the Soviet-led trading bloc Comecon needed only 15 minutes Friday to terminate an organization that regulated trade among the former communist countries for 42 years. The signing of a document formalizing the end of the organization "reflects the historical changes under way in the region," said Bela Kadar, Hungary's foreign trade minister. He earlier welcomed representatives to what he termed "a short, but historically significant event."
BUSINESS
January 30, 1991 | From Associated Press
Oil officials in the world's largest oil-producing nation are warning that if the sharp decline in Soviet output continues, it could force the Soviet Union to start importing petroleum by the end of 1993. Since oil provides a major part of Soviet export earnings, such a reversal of fortunes could wreak havoc on the already crumbling economy.
NEWS
October 22, 1989 | From Associated Press
The Soviet economic growth rate was cut almost in half this year by lower production, strikes and ethnic unrest, while foreign trade and consumer prices were higher, a government official said in a report published Saturday. Growth was 2.4% in the first nine months of 1989, compared to 4.7% in the same period last year, said Nikolai G. Belov, deputy chairman of the State Committee for Statistics.
NEWS
December 29, 1990 | CAROL J. WILLIAMS, TIMES STAFF WRITER
A new age in East European economics dawns Tuesday, when the nations of the Soviet trading club pack away the mirrors they have used to balance their checkbooks for four decades. It will be every new democracy for itself in 1991, when the Council for Mutual Economic Assistance, or Comecon, starts keeping its books in real money, instead of the synthetic "transferable ruble" that has been its common, unconvertible currency for internal wheeling and dealing.
NEWS
December 22, 1990 | MICHAEL PARKS, TIMES STAFF WRITER
Only when the meat freezers, vegetable bins, fruit boxes and macaroni shelves at neighborhood groceries were all but empty in Moscow and Leningrad, the Soviet Union's biggest and wealthiest cities, did people begin to accept the reality: The Soviet economy is collapsing. Not just the food industry, not just agriculture or retail trade, but the economy as a whole is disintegrating faster and faster. "How can we grow more grain than ever and have even less food than before in our stores?"
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