Russian airlines saw total passenger turnover rise 13% year-on-year to 18.8 billion passenger-kilometers in February 2024, according to data from Rosaviatsia – Russia’s Federal Agency for Air Transport. The figure increased nearly 7% to around 11.3 billion passenger-kilometers on domestic routes, and 24% to 7.6 billion passenger-kilometers on international routes. Airlines saw passenger traffic rise […]
India is apparently ready to start negotiations on a free trade agreement with the Eurasian Economic Union (EAEU), according to Belarusian Foreign Minister Sergei Aleinik, who visited New Delhi from March 12–13. Belarus is a member of the EAEU along with Russia and Armenia, Kazakhstan, and Kyrgyzstan. The bloc fills the geographic space between Eastern […]
Russia’s maritime crude oil exports have reached a record level in 2024, as shipments from Russian terminals in the Far East regained momentum. Oil production spiked by 590,000 barrels daily in the week ending March 10. This upswing came after Russia renewed its commitment to the OPEC+ effort to mitigate against a global market glut […]
The Red Sea crisis has shifted attention for Russia, India, and South Asia to the potential of the Eastern Maritime Corridor (EMC) – a proposed trade route for shipping coking coal, crude oil, LNG, fertilizers, and goods containers. This new trade route could revolutionize Russian-Asian trade. India’s oil imports reached unprecedented levels in January 2024, […]
The four regions annexed by Russia in September 2022 from Eastern Ukraine have seen a surge in taxable revenues, following their reorganisation and investments and incentives made into the territories by Moscow. Tax revenues in Donetsk, Lugansk, Kherson and Zaporozhye have continued to grow, with a total of 210 billion rubles (US$2.27 billion) raised in […]
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Austrian Foreign Minister Alexander Schallenberg has said in a meeting with US Secretary of State Antony Blinken during a joint press conference in Vienna on March 15, that 95% of Western companies are still invested in Russia. This is despite Western government pressure since early 2021 and many high profile foreign businesses announcing their exit […]
The market for passenger cars and light commercial vehicles in Russia grew 80% in February 2024 and is forecast to continue growing in March, the Association of European Businesses (AEB) has stated in a press release. The AEB is the main representative body of foreign investors in Russia. Based on calculations by the AEB Committee […]
The Moscow Stock Exchange (MOEX) has seen an increase in domestic Russian corporate interest for conducting IPOs and SPOs compared to 2023; with more than 20 transactions potentially taking place in 2024, according to Vladimir Krekoten, the Managing Director of the exchange. Krekoten was speaking at the ‘Financial Markets: New Guidelines in a Changing World’ […]
Russian President Putin has approved the construction of the delayed High-Speed Moscow-St.Petersburg railway. Discussions on a new link were prominent in 2019, but Covid issues put the project on hold. However, in February this year, a masterplan for the Moscow-St. Petersburg line was agreed. Construction is to start immediately. At present, one line runs […]
Industrial output in the Eurasian Economic Union (EAEU) countries rose 4.7% year-on-year in January, with all EAEU countries demonstrating growth, the EAEU press service has said, stating “The EAEU had an industrial production volume of 104.7% in January 2024, on par with January 2023.” Armenia had industrial output growth of 21%, Belarus of 5.4%, Kazakhstan […]
The Russian economy will become the fourth largest economy in the world before 2030, with sustainable growth at a rate of at least 2% per year and gradual acceleration to 3%. This will yield approximately 20% growth by 2030, Russian First Deputy Prime Minister Andrei Belousov said at a meeting of Russian President Vladimir Putin […]
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