Economy

Intra-Eurasian Economic Union Trade Up 7% In Q1 2024

Economy, Eurasian Economic Union, Trade

The mutual trade volume within the Eurasian Economic Union (EAEU) in the first quarter of 2024 increased by ₽2 trillion (US$22.5 billion), according to Dmitry Volvach, a Deputy Minister of the Russian Ministry of Economic Development of Russia. He was speaking at the ‘Export to the EAEU countries’ conference of interregional cooperation in Novosibirsk last […]

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Russia Outlines “BRICS Bridge” Digital Settlement Plans

BRICS, Economy, Trade

Russia has proposed to BRICS countries and partnership members a mechanism for cross-border payments based on the BRICS Bridge settlement platform, according to Anton Siluanov, Russia’s Finance Minister. He explained that the mechanism would see BRICS members central banks issue digital financial assets (DFAs), which would in turn peg their value to the national currencies

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The Real Purpose Of Ukraine’s ‘Peace Conference’: Asking For A 60% Reduction In Western Debt

Economy, Finance, Investment

The Financial Times has published an article describing a key meeting between the Ukrainian Finance Ministry and Officials attending the Peace Conference held over the weekend in Lucerne, Switzerland. The newspaper reported that Ukraine had asked for its official bondholders to take a 60% haircut on foreign exchange bonds due in August of US$20 billion.

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Russia – North Korea 2024 Trade & Security Developments

China, Economy, Trade

Update June 18: As we predicted, Russian President Vladimir Putin will meet Kim Jong-Un, the President of North Korea, with the dates now confirmed for June 18th/19 in Pyongyang. According to the Kremlin, the Russian delegation will also include Foreign Minister Sergey Lavrov, First Deputy Prime Minister Denis Manturov, Defense Minister Andrey Belousov, Health Minister

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The Chinese RMB Yuan Becomes Russia’s Currency Valuation Baseline: The Implications For The US Dollar and Euro 

BRICS, China, Economy, Finance

In response to Wednesday’s (June 12) US sanctions concerning the provision of services to Russia for trading US dollars or Euros, the Bank of Russia has stated that the Chinese RMB Yuan / Russian Ruble exchange rate will now be the baseline from which other currency pairs, including for the euro and the dollar, will

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Russia Introduces New Direct Flights To Africa, Asia & Middle East

Economy, Logistics & Transport, Trade

In a sign that Russia’s push towards a multipolar world is gaining traction, and that the international community is happy to connect with the with country, Vladimir Poteshkin, Russia’s Deputy Transport Minister has stated that direct flights to Tanzania, Kuwait, Saudi Arabia and Indonesia are due to begin before the end of this year. New

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Sanctions Lose Their Bite Upon Russian Businesses, But High Interest Rates Remain Problematic

Economy, Trade

New survey suggests Russian businesses are mainly bullish and sanctions are being overcome  A new report by Yakov & Partners (previously McKinsey Russia) has stated that Russian businesses have successfully adapted to operating under Western sanctions, with 50% of Russian entrepreneurs noting an improvement in their business over the past six months. Looking ahead, 87%

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