In a tit-for-tat move, President Putin has asked the Russian government to look into imposing restrictions on Russian exports of so-called ‘strategic’ materials such as nickel, titanium and uranium in response to sanctions imposed by the West. If carried out, the move has the potential to reshape critical industry supply chains as Russia’s allies, such […]
Russia and Turkmenistan’s bilateral trade has surged this year, increasing by 73% in the first half of 2024, surpassing US$700 million, according to the Russian Ministry of Economic Development. Deputy Minister of Economic Development of Russia Dmitry Volvach stated that “Last year, trade between Turkmenistan and Russia grew by 13%, and in the first half […]
Update – September 18 Alexsei Mozhin, the IMF’s executive director for Russia, has stated that the IMF’s leadership has now scrapped plans to begin a review of the Russian economy this week, because the mission was “technically not ready”. The IMF is understood to have come under pressure from European member states not to visit […]
The Digital Ruble will be in use across Russia in less than a years’ time, as the Central Bank has issued instructions to Russia’s systemically important lending institutions to allow clients the option to conduct transactions in Digital Rubles by July 1, 2025. The regulator has sent the corresponding proposals on amending the legislation to […]
Uranium One Group, a division of Russian SOE Rosatom, and Bolivia’s SOE Yacimientos de Litios Bolivianos (YLB) have signed a contract to build a lithium carbonate production plant at the Uyuni Salt Flat in Potosi, Bolivia, in the second half of 2025. Production will then gradually expand to eventually produce up to 14,000 tonnes of […]
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Some Russian businesses have begun using gold to pay Chinese suppliers to get around US sanctions and threats of sanctions against Chinese banks affecting Russia-China bank transfers. The alternative solution means that gold is purchased in Russia, transported by private courier to Hong Kong, where it is sold, and the cash is deposited into the […]
Russia’s Transit Transport Group, (TTG) one of Russia’s largest shipping companies has expanded its ‘Fetled Express’ marine service from Shanghai to St. Petersburg, adding the Sri Lankan port of Colombo to the route. The service directly connects China, Vietnam, Sri Lanka, Turkey, and Russia and is part of the Asia-Russia intermodal transportation chain. The full […]
The redevelopment of Big Ussuri Island, including the opening of a new Russia-China border crossing, is stimulating billions of rubles of investment into the area, according to the Khabarovsk Minister of Economic Development, Viktor Kalashnikov. Bolshoi (Big) Ussuri Island is on the Amur River, along the border between Russia and China. The Russian part of […]
For the first time a goods train will deliver products directly from Ulyanovsk to Baku and then to Iran’s Astara in less than a month, the head of the region Alexey Russkikh said. Ulyanovsk, the administrative centre of the Ulyanovsk region, located on the banks of the Volga and Sviyaga rivers, is a major diversified […]
Russia’s bilateral trade growth with China is being subjected to the commercial brakes being applied to it by the United States sanctions policy, a scenario both Moscow and Beijing detest, and vehemently protest, but at present are being forced into adhering to some restrictions. The main problems come from sanctions, or the threat of them, […]
Another new trade corridor between Russia and Asia is set to open in 2025 when the Khandagayty checkpoint on the border with Mongolia is completed in Tuva. The new facility includes a Special Economic Zone, (SEZ) which provides a bonded area for the processing and manufacturing of goods. This has tax saving advantages for finished […]
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