India’s Foreign Minister Subrahmanyam Jaishankar has stated that New Delhi’s decision to purchase energy supplies from Moscow are pivotal to India and its rise as the world’s fastest-growing large economy. Speaking at an event in Mumbai, India’s financial capital, Jaishankar emphasized that the nation’s purchases of Russian crude since the beginning of the Ukraine conflict […]
Rustam Habibullin, the head of the Russian Business Center in Afghanistan, has said that the trade turnover between Russia and Afghanistan after the withdrawal of US and NATO forces has increased significantly and reached US$1 billion. He stated that the main areas of trade are gas, oil products, flour and wheat, and more recently, dairy […]
Russians made 5.3 million trips abroad in Q1 2024, which is an 8.8% increase from Q1 2023, according to the statistics of the Russian Federal Security Service’s Border Guard Service. Russians made 5,329,249 trips abroad for all purposes in the first quarter. Russian tourist tastes have changed as well, with European countries making it difficult […]
The Russian Association of Tour Operators (ATOR) has said that foreign tourist arrivals in Russia tripled year-on-year in the first quarter of 2024, and half of those tourists came from China, citing statistics from the Border Service of the Federal Security Service (FSB). ATOR stated that “Almost 218,800 foreign citizens who declared tourism as the […]
The Russian National Reinsurance Company (RNPK) has increased its marine risk reinsurance, including cargo, and liability of shipowners by an immediate 20 – 30%. According to experts, this is due to the growth of the shadow fleet and the cost of shipping. For insurers, an increase in limits can mean not only an increase in […]
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Andrey Belousov, a former Deputy Prime Minister, has been appointed as Russia’s new Minister of Defense. Belousov is a longstanding member of the Russian political elite who has held important government positions for the past 20 years. He is the first civilian to hold the post, and has spent most of his career working as […]
Russian President Vladimir Putin has confirmed his trip to Beijing to hold meetings with Chinese President Xi Jinping, himself just back from a trip to France, Serbia, and Hungary – the latter two Russia-friendly European nations. Putin meanwhile this week has restructured his government and moved around senior officials and just held meetings with Eurasian […]
The Russian Chamber of Commerce & Industry has suggested changes to Russia’s import substitution sector lest it start to rely too much on Chinese manufacturing. To reduce import dependence in Russia’s manufacturing and mechanical engineering sectors, it is essential to accelerate the development of component manufacturers – a third layer of Russian industrialisation. At present, […]
The tenth anniversary meetings of the founding of the Eurasian Economic Union (EAEU) took place last week, with the five member bloc assessing progress and planning ahead. The EAEU, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, fills the geographic space between Eastern Europe and Western China. Uzbekistan is not a member but does have […]
The St. Petersburg government is to launch a pilot scheme for local SME exporters, providing subsidies for domestic businesses in the city looking to access markets in Eastern China. At the initial stage, it is planned to access four major ports in China: Qingdao, Shanghai, Ningbo, and Guangzhou. The initiative has been arranged by the […]
Mauritius is working on introduction of cards of the Russian MIR card payment system, according to Konstantin Klimovsky, the Russian Ambassador in the country. He said. “Authorities of Mauritius have plans for MIR use but it is difficult for the time being to say whether this will be achievable in 2024.” Having access to Russia’s […]
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