Russia's Pivot to Asia

China’s RMB Yuan Accounts For 99.6% Of All Forex Trade On The Moscow Stock Exchange

China, Finance, Trade

China’s RMB Yuan accounted for virtually the whole volume of exchange forex trading after the imposition of sanctions against the Moscow Exchange (MOEX), making up 99.6% of all transactions, the Central Bank of Russia has stated. Trading volume on the over-the-counter forex market reached ₽13 trillion (US$148 billion) in June. When sanctions were first imposed […]

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Russia, Uzbekistan Look To Triple Bilateral Trade By 2030

Eurasian Economic Union, Trade

Laziz Kudratov, Uzbekistan’s Investment, Industry and Trade Minister, has stated that Uzbekistan and Russia have every chance of increasing bilateral trade to US$30 billion by 2030, speaking at the Uzbek-Russia working group for increasing bilateral trade being held in Moscow. Kudratov pointed to the major expansion of the structure of goods and the increasing share

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Putin and Modi

How India’s Vostro Bank Account Scheme Can Assist With Russia’s Rupee Trade Settlements Problem

BRICS, Economy, Finance, India, Trade

Indian Prime Minister Narendra Modi has been in Moscow holding talks with Russian President Vladimir Putin, in discussions likely to have far-reaching, positive consequences for Russia-India bilateral trade as well as the BRICS group. There are however, technical problems to solve. A major stumbling block is that India buys far more from Russia than vice

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Russia’s Leading Low-Cost Retailer Redomiciles From Cyprus to Kazakhstan

Economy, Eurasian Economic Union, Foreign Investment, Investment

Cyprus loses a major Russian client to Kazakhstan’s fiscal gain as Western exits increase  The Russian chain of low cost retailers, Fix Price has redomiciled its corporate PLC entity from Cyprus to the Astana International Financial Centre in Kazakhstan. Fix Price operate over 6,500 retail stores worldwide, with 2023 revenues of ₽291.9 billion (US$3.3 billion)

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Russia’s Special Economic Zones Attracting New Foreign Investors

Economy, Finance, Foreign Investment, Infrastructure

The Russian Ministry of the Economy has been assessing the effectiveness of the 44 Special Economic Zones (SEZ) in the country, including their fiscal effectiveness. SEZs are attractive investments for foreign investors as they typically offer reduced corporate income tax rates – typically zero for the first three-five years and at a 50% discount for

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Rus Mong Chin Flags

Russia-Mongolia-China Economic Corridor To Be Developed

China, Infrastructure, Logistics & Transport, Shanghai Cooperation Organisation

Russia’s Foreign Minister Sergei Lavrov has held trilateral meetings with Chinese Foreign Minister Wang Yi and Mongolian Foreign Minister Batmunkh Battsetseg on the sidelines of the Shanghai Cooperation Organization Council of Heads of State meetings in Astana.  The Russian Foreign Ministry said that “During a substantive conversation, they exchanged views on enhancing trilateral cooperation in

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Russia’s Bilateral Trade With Pakistan Increasing

Shanghai Cooperation Organisation, Trade

Islamabad proposes trade barter system to overcome financial difficulties  Russian President Vladimir Putin has met with Pakistani Prime Minister Shehbaz Sharif on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Kazakhstan’s Astana. Trade between Russia and Pakistan is growing, and Russia is willing to increase supplies of energy and agricultural produce to Islamabad,

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Russia – Kazakhstan Bilateral Trade Reaches US$30 Billion  

Eurasian Economic Union, Infrastructure, Shanghai Cooperation Organisation, Trade

Russia – Kazakhstan bilateral trade is growing steadily, and has already reached almost US$30 billion, Russian President Vladimir Putin said during meetings with Kazakh President Kassym-Jomart Tokayev at the Shanghai Cooperation Organisation Heads of State summit held in Astana. Russia remains one of the main trade and economic partners for Kazakhstan, Putin said, adding “We

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