Economy

Developing Russia’s Low Altitude Economy & Civilian Cargo Drones: Waiting For Lift Off

Economy, Investment, Russian Market

The global market for commercial drone delivery systems will grow by more than 40% annually in the near future, according to analysts, who consider air delivery systems to be part of a new low-altitude economy that includes air taxi, sightseeing and cargo transportation. By 2030, the volume of the low-altitude economy in China alone should […]

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Digital Ruble

22 More Russian Banks Join The Pilot Project Offering Digital Ruble Accounts & Services From July 1 

Economy, Finance, Infrastructure, Russian Market, Trade

A total of 22 Russian banks have now signed agreements with the Russian Central Bank and are configuring their systems to participate in national Digital Ruble project, which is scheduled for mass-roll out by July 1st. They join Sberbank, T-Bank, Tochka Bank and twelve others that are already in the program for conducting transactions with

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Russia’s Asian Year – Achievements Made During The Turn To The East

Asia, BRICS, China, Economy, India

By Kirill Babaev, Director of the Russian Institute of China and Contemporary Asia, of the Russian Academy of Science The past year has become very successful for the growing trend of a “Pivot to the East” in Russian foreign policy. It seems that Russia this year has finally fully realized that the Asian region can

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EAEU

Eurasian Economic Union 2024 GDP Growth Expected To Be 4.2%

Economy, Eurasian Economic Union, Trade

The Eurasian Economic Commission, the secretariat of the Eurasian Economic Union (EAEU), expects the 2024 EAEU GDP growth to be 4.1%, according to the EEC’s press service. The statement read “A positive trend in the growth of gross domestic product continued to be observed in all countries of the Eurasian Economic Union in 9M 2024.

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Putin

President Putin’s Annual Q&A: The Economy and BRICS: Analysis

BRICS, Economy, Russian Market

The Russian President, Vladimir Putin gave his annual public Q&A address yesterday, with him fielding questions from across Russia, including the general public and journalists. 2.2 million questions were received, ranging from the situation in Ukraine, which tended to dominate, to personal issues such as ‘What do you dream about?’ And what artworks he has

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Russia’s Promsvyazbank Developing US Dollar ATM Network In Nicaragua

Economy, Finance, Infrastructure, Latin America

Russia’s Promsvyazbank (PSB) has begun developing a Russian payment infrastructure in Nicaragua and will develop an ATM network in the country, the bank has stated. PSB has installed its first ATM in the Nicaraguan capital, Managua, at a branch of Credicoop R.L. bank. It provides customers with access to cash operations in the national currency,

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Euroclear

Russia’s Likely Legal Response To The EU Sending Interest On Russia’s Frozen Capital To Ukraine

Economy, Finance, Security

Last week, the United States and European Union allowed the sending of interest earned from Russia’s frozen capital in the EU to Ukraine. This was intended to help Ukraine pay off a loan of US$20 billion it has secured from the West, and is an issue we discussed in some detail here.   Both US

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Interest Earned By Russian Frozen Financial Assets Now Given To Ukraine – Analysis & Global Implications

BRICS, Economy, Finance, Regulatory, Russian Market, Security

The United States and European Union have green-lit a decision to pass interest earned by Russian securities frozen in the US and EU to Ukraine, to use in order to repay a US$20 billion loan. We examine the implications and the potential global fallout over this unprecedented financial development.   The Total Amount Due The US

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EAEU

Eurasian Development Bank: The Eurasian Economic Union Had Record GDP Growth In 2024

Economy, Eurasian Economic Union, Trade

Russia, and its neighbouring states within the Eurasian Economic Union (EAEU) have undergone an economic boom during 2024, according to a report by the Eurasian Development Bank (EDB).  The EAEU includes Russia as well as Armenia, Belarus, Kazakhstan, & Kyrgyzstan. It fills a geographic space between Eastern Europe and Western China.  Their collective GDP growth

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