Finance

EDB Bank

Uzbekistan To Join Eurasian Development Bank In Boost To EAEU

Eurasian Economic Union, Finance, Infrastructure, Investment, Trade

Uzbekistan is completing the procedure to join the Eurasian Development Bank (EDB), Prime Minister Abdulla Aripov said at a meeting of the Eurasian Intergovernmental Council in Yerevan. The EDB is an international development bank with charter capital of US$7 billion. Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan are the bank’s shareholders. Uzbekistan’s decision to participate […]

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BRICS Digital

Putin Says BRICS Payment System In Progress, Nasdaq Says Would Disrupt US Dollar and Euro

BRICS, Economy, Finance, Trade

The Russian President Vladimir Putin has been speaking at the Russian Energy Week forum in Moscow, and stated as part of his speech that the BRICS member nations are jointly developing a payment and settlement framework to be used for trading within the group. Putin stressed that supplies of Russian oil and gas to ‘friendly’

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Cocoa

Moscow Stock Exchange Begins Trading In Cocoa Futures With African, Asian and Latin American Producers A Main Beneficiary

Africa, BRICS, Finance, Trade

The Moscow Stock Exchange (MOEX) has begun trading in cocoa futures contracts, with trading and settlements conducted in Russian Rubles. The cocoa trade desk began operating yesterday (September 24) and reflects an international demand for the product, reflecting the dynamics of the price of cocoa beans supplied from countries in Africa, Asia, and Central and

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UAE Investor Buys Raiffeisen Bank Belarus Subsidiary In Significantly Discounted Acquisition

Economy, Finance, Foreign Investment

In signs that more wealth and capital is moving away from Europe to Asia as a result of Western sanctions, Soven 1 Holding Limited, an investor from the UAE, has signed an agreement to purchase the Austrian Raiffeisen Bank International’s 87.74% stake in the Belarus-based subsidiary Priorbank, and its subsidiaries. Raiffeisen’s core business has been

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Ruble Trade Volumes Up As US Dollar And Euro Decline In Russian Exports Trade 

Economy, Finance, Trade

Russia is increasing the volume of payments in its national currency, with the Ruble’s share in its export trade with Europe rising to a historical high of 67% of the total, according to the Russian Central Bank. This indicates that the global structure of renumerations is changing against the backdrop of Western financial sanctions, and

Ruble Trade Volumes Up As US Dollar And Euro Decline In Russian Exports Trade  Read More »

Russian Bitcoin

Russia Preparing For Crypto Transactions By 2025 In Foreign Trade  

Economy, Finance, Trade

Russia’s financial authorities are moving towards the use of crypto-currency for international trade, with a focus group established to pilot and test international trade settlements using digital currencies. The group reportedly consists of members of the Russian Chamber of Commerce, and the Association of Electronics Developers and Manufacturers, as well as several lenders. The selected

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International Monetary Fund Returns To Russia, Will Provide Economic Health Report 

Economy, Finance

Update – September 18 Alexsei Mozhin, the IMF’s executive director for Russia, has stated that the IMF’s leadership has now scrapped plans to begin a review of the Russian economy this week, because the mission was “technically not ready”. The IMF is understood to have come under pressure from European member states not to visit

International Monetary Fund Returns To Russia, Will Provide Economic Health Report  Read More »

Russian Banks Instructed To Permit Client Use of Digital Rubles From July 1, 2025

Economy, Finance, Infrastructure, Trade

The Digital Ruble will be in use across Russia in less than a years’ time, as the Central Bank has issued instructions to Russia’s systemically important lending institutions to allow clients the option to conduct transactions in Digital Rubles by July 1, 2025. The regulator has sent the corresponding proposals on amending the legislation to

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Russia Begins Paying China Traders In Hong Kong Using Couriered Gold

China, Economy, Finance, Trade

Some Russian businesses have begun using gold to pay Chinese suppliers to get around US sanctions and threats of sanctions against Chinese banks affecting Russia-China bank transfers. The alternative solution means that gold is purchased in Russia, transported by private courier to Hong Kong, where it is sold, and the cash is deposited into the

Russia Begins Paying China Traders In Hong Kong Using Couriered Gold Read More »

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