Finance Archives - RUSSIA'S PIVOT TO ASIA

VTB Launches QR Payment System In Turkiye, Bypasses SWIFT

Economy, Finance, Infrastructure, Middle East, Trade

Russia’s VTB bank has launched a QR code payment system for purchases in Turkiye, with the system coming operational from March 12. About 7 million Russians visit Turkiye every year, either on holiday or in transit elsewhere. Western sanctions have restricted the use of Russian Mir cards in Turkey – The US Treasury Department’s Office […]

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Hong Kong Developing Alternative Clearing House After Euroclear’s Distribution Of Russian Assets

China, Economy, Finance, Trade

Hong Kong’s Exchanges and Clearing house, which runs the Hong Kong stock market, said last week that it was working with the Hong Kong monetary authority to develop an Asian international settlement house intended to rival Belgium’s Euroclear and Luxembourg’s Clearstream. The move comes as a bid to lessen dependence on western financial infrastructure, and

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Putin Lays Out Russian Development Strategy At “Future Technologies” Forum: Analysis

Economy, Finance, Infrastructure, Investment, Russian Market

The Third International Future Technologies Forum held February 20 and 21 in Moscow, which sets the stage for groundbreaking scientific exploration, where emerging ideas, still taking shape in laboratories and research centres, are discussed and refined. This year’s forum focused on chemistry and the application of new materials – cross-cutting fields that will play a

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Russian Belt & Road Support For Maritime Shipping To Africa & Latin America

Africa, Exports, Finance, Infrastructure, Investment, Latin America, Russia's Belt & Road, Trade

The Russian Ministry of Industry and Trade, together with the Russian Export Centre (REC), is launching a program of state support for exports to Latin America and Africa. According to the program, Russian logistics companies engaged in maritime transportation will be able to receive subsidies from the federal budget and set preferential tariffs for their

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Brazilian President Encouraging New Intra-BRICS Payment Platforms

BRICS, Economy, Finance, Trade

Brazilian President Luiz Inacio Lula da Silva has said that the BRICS nations remain committed to developing new “transparent and secure” payment platforms to boost their economic integration and reduce “vulnerabilities” in the global market. He was speaking at a meeting of the BRICS Ambassadors (also known as “Sherpas”) on Thursday, (February 27) as the

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UAE To Introduce Etihad Airlines Abu Dhabi – Sochi Flights

BRICS, Finance, Logistics & Transport, Middle East, Russia's Belt & Road

Etihad Airways are to launch direct flights between Abu Dhabi, one of the UAE Emirates, and Sochi, on Russia’s Black Sea coast, from May 29. Flights will be operated on Airbus A320 three times a week. The new route will improve transport accessibility between Russia and the UAE and is aimed partially at Emirati citizens

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Russia 2025 Double Tax Treaty Agreements: An Update

Finance, Investment, Regulatory, Trade

Russia suspended its double tax treaties with numerous ‘unfriendly’ countries in 2022, a decision that created some shock waves at the time as these agreements prevented the taxing of income in both Russian and mainly Western-aligned countries. As was shrewdly observed at the time “Why should Russia treat unfriendly foreign nations to tax reductions when

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Trade With Southeast Asia and Latin America Now Accounts for 70% of Russia’s Exports & Imports: Foreign Ministry Interview

Asia, BRICS, Eurasian Economic Union, Finance, Latin America, Trade

Trade with the economies of Southeast Asia and Latin America already accounts for more than 70% of Russia’s export-import transactions, and the share of settlements in national currencies under foreign contracts with them is about 90%, according to Alexander Pankin, the Russian Deputy Foreign Minister. He emphasized that Moscow will continue to deepen cooperation with

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Russian Domestic Investment Grade Diamond Sales Increase Threefold

Economy, Finance, Russian Market, Trade

ALROSA, which produces about 90% of diamonds in Russia, increased sales of investment-grade diamonds by a multiple of three times in 2024, to more than 1,000 units, the company has said. The investment category includes diamonds from 2 carats with certain colour and purity characteristics. Their price point starts from ₽2 million (over US$20,000) per

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Russian Disposable Income Levels Grew By 8.6% In 2024: Economic Analysis

Economy, Finance, Infrastructure, Russian Market, Trade

Russian President Vladimir Putin has been discussing and analysing Russia’s economic position during 2024 with Prime Minister Mikhail Mishustin to see areas that worked and where attention to change needs to be directed. Mishustin was presenting the results of Russia’s economic performance for last year. The results are generally positive but there are some critical

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