Russia’s financial sector is changing as new infrastructure and development projects materialise, overseas funding is provided to friendly nations, and the landscape changes as regards use of currencies into addition to shifts in the way in which capital is used, from QR codes to Crypto all driving new regulatory and Central Bank guidelines. Navigate Russia’s financial landscape. Get analysis on the banking sector, investment mechanisms, currency exchange, and capital markets for businesses operating and investing in Russia.
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 […]
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 […]
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 […]
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 […]
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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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 […]
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 […]
Russia’s VTB bank plans to expand its services geography in providing international transfers in national currencies during 2025 by adding new countries in Africa, Latin America and Southeast Asia, the Russian state bank’s deputy CEO, Georgy Gorshkov has stated. VTB’s retail customers made 2.1 million transfers in the currencies of friendly countries in 2024, six […]
2024 was a banner year for Russia’s collective investment markets, which expanded with a record number of mutual funds and the largest number of new management companies for over a decade. Wealthy investors – including foreign investors – are primarily interested in Russian industry. Since sanctions were imposed in 2022, Russian investors have been limited […]
Russia’s digital financial assets market grew more than 4 times in 2024, according to the Russian ACRA credit rating agency. Although still developing and partially hampered by sanctions, the overall trend is positive, with holdings up to ₽150 billion by the end of last year. According to ACRA’s estimates, digital financial instruments in Russia have […]
India has permitted the Russian insurer Soglasie Insurance Company to provide marine cover to tankers entering Indian ports, according to the Indian ship regulator’s website, as New Delhi desires a reliable and steady supply of Russian oil in spite of the latest escalation of U.S. sanctions. Taking matters a step further, India has extended the […]
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