Chinese authorities have banned the supply of processors to Russia to replace Intel, and Bloomberg reported on Russia’s chance to regain leadership in gas supplies to the EU – these and other important news for Tuesday morning, December 13, in our daily review.

Chinese authorities have banned the export to Russia and other countries of Loongson processors based on its own LoongArch architecture. This is reported by “Kommersant” with reference to a source close to the Ministry of Digitalization and an interlocutor in the electronics market. “Although Russian companies have not been heavily dependent on Chinese processors,” some manufacturers have already been testing Loongson chips, expecting that they can replace Intel (NASDAQ:INTC) in case parallel imports are blocked, the newspaper’s source close to Mincifra noted. Now it is impossible to purchase a batch of these processors, he noted.

Russia has opportunities to restore the status of the main gas supplier to the European Union, Bloomberg writes. For example, Michael Kretschmer, prime minister of the federal state of Saxony, said that to remain without Russian gas forever would be “historically ignorant and geopolitically wrong.” “For many German politicians, prices matter. Berlin now pays €140 ($180) per megawatt-hour for gas imports, about seven times the average from 2010 to 2020. To appease its consumers and companies, Germany is spending billions on subsidies,” the agency said.

The International Monetary Fund said the biggest drop in global debt relative to global GDP in 70 years in 2021. In dollar terms, debt continued to rise to $235 trillion, with global public and private debt well above pre-pandemic levels, Reuters reports, citing an IMF report released on its blog.

One of Chinese automaker Geely’s (HK:0175) seven electric car brands, Zeekr, has confidentially filed for an initial public offering in the United States. The Chinese company expects to raise more than $1 billion in the IPO with a valuation of more than $10 billion, Reuters reports, citing three sources familiar with Zeekr’s plans.

Kicksharing service Whoosh has specified a benchmark for the price of the initial public offering on the Moscow Exchange, Forbes writes. It is expected that the offering price will be approximately 185 rubles per ordinary share, which corresponds to Whoosh’s market capitalization of 18.5 billion rubles, according to the press release. The total size of the IPO may amount to about 2.3 billion rubles.