Economy Archives - Page 29 of 31 - RUSSIA'S PIVOT TO ASIA

Featured March 25, 2024

Russian Airlines Launch New Flights To China, Mongolia, Kazakhstan, Kyrgyzstan, Uzbekistan, Dubai, Philippines and Vietnam

The new spring 2024 schedule for Russian airlines flight schedules includes the opening of new foreign destinations and the resumption of previously existing, but mothballed routes. Details are as follows: Russia-China Yakutia Airlines are to begin operating direct regular flights on the Yekaterinburg-Beijing route from April 4, with departures three times a week on Mondays, […]

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Featured March 25, 2024

All BRICS Nations Are Piloting Digital Currencies But USD Likely To Remain Dominant

An Atlantic Council study published on Thursday showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring the launch of a central bank digital currency (CBDC). This number has surged from just 35 since May 2020. The development is significant as it seems to predict an almost universal move […]

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March 24, 2024

Russian Economy At Investment Grade: Central Bank

The Russian economy is in the investment phase of growth, with investment activity at a record level and imports of investment goods are growing, according to Central Bank of Russia (CBR) Governor Elvira Nabiullina. She made the comments following a meeting of the regulator’s board, at which it held the key interest rate at 16%. […]

March 24, 2024

Prospects For BRICS Under Russia’s 2024 Chairmanship

The influential World Geostrategic Insights (WGI) forum has provided an interview with US-Russia expert Paul Goncharoff concerning Russia taking the Chairmanship for the BRICS group for 2024. The WGI also namechecked our own new Russia’s Pivot To Asia guide, which contains extensive chapters and details of the prospects for BRICS 2024. It can be downloaded […]

March 23, 2024

Russian Tourist Visits To Egypt Hit Record High In 2023

With the European Union fully suspending the visa-facilitation agreement between the European Union and Russia as part of sanctions in 2022, and European airlines no longer providing direct flights, alternative destinations for Russian nationals replacing European destinations are now in vogue. That trend can be seen in the tourist traffic from Russia to Egypt, which […]

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March 22, 2024

Houthi Red Sea Attacks: “We Will Not Target Russian or Chinese Shipping”

The Yemen-based Houthi militants have told Russia and China that their ships can sail freely through the Red Sea and Gulf of Aden without fear of being attacked. An understanding was reached during talks in Oman involving Russian and Chinese diplomats and senior Houthi political figures. The Houthi rebels have carried out dozens of drone […]

March 21, 2024

Russia, EAEU Discuss Priority Trade Developments

Bakytzhan Sagintayev, the Chairman of the Board of the Eurasian Economic Commission (EEC) and President of Russia Vladimir Putin met during negotiations on March 19 in Moscow. The EEC is the regulatory body for the Eurasian Economic Union (EAEU) which includes Russia along with Armenia, Belarus, Kazakhstan, and Kyrgyzstan. It fits the geographic space between […]

March 21, 2024

Russian Crude Oil Exports To Asia Increase

Data from the International Energy Agency (IEA) reveals that the European Union’s embargo on the purchase, import and transfer of Russian crude oil at the end of 2022 has had almost no impact on the total volume of Russian oil exports. As the following chart shows, this is due to other countries filling in the […]

March 21, 2024

Russian Import Duties Up 6.4% In 2023

The Federal Customs Service of Russia has stated that it transferred tax and duty collected revenues to the State budget of ₽6.623 trillion (US$72.1 billion) which was 6.4% higher than in 2022. This came despite Western markets ceasing direct exports to Russia and shutting down their borders with Russia. Finance Minister Anton Siluanov said that […]

March 19, 2024

China’s Industrial Activity Up 7% In January & February 2024

Despite general Western negativity concerning China, its industrial activity picked up at the start of the year, according to data from the National Bureau of Statistics. The news is relevant to Russia’s Pivot to Asia as it suggests that inexpensive Russia energy is helping create a boost to China’s manufacturing sector output. China’s industrial production […]

March 19, 2024

Russian February 2024 Air Passenger Turnover Rises 13%

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 […]