Russia’s trade and investment into the Middle East is rapidly developing, with relations both through the Gulf Cooperation Council and the Arab League all helping boost bilateral trade by 25% during 2025. Partially driven by the developments along the INSTC, and new regional free trade agreements, we provide analysis of the growing Russia-Middle East economic partnership. Discover trade statistics, investment flows from the GCC, and business opportunities for companies in both regions.
According to the Egypt Upstream Gateway, which operates on behalf of the Egyptian Petroleum and Mineral Resources Ministry, Russia’s Lukoil is interested in acquiring Egypt’s South Wadi El-Sahl block. A memorandum of understanding for the project is expected to be signed during the Egypt Energy Show (EGYPES), which takes place in Cairo on February 17-19. […]
Russian spending on trips abroad has exceeded pre-2019 record levels, according to the Russian Central Bank. In 2024, Russian nationals spent almost US$38 billion on travel to other countries, overtaking the previous record by US$1.5 billion. Among the main reasons for the growth of the Russian overseas tourism sector are the availability of new destinations […]
Turkiye’s AJet airline will launch direct flights between Istanbul and St. Petersburg on March 14, according to St. Petersburg’s Pulkovo Airport. There will be four flights a week, on Mondays, Wednesdays, Fridays and Sundays. Pulkovo airports press service stated that “AJet is the fourth carrier on the St. Petersburg-Istanbul route. The number of flights to […]
The Israeli Tourism Ministry has said that 72,600 Russian tourists visited Israel in 2024, a sharp decline from the 158,500 Russian tourist arrivals in 2023. The number of tourists fell after the Israeli-Palestinian conflict escalated on October 7, 2023. Overall, Russian visitors retained the fourth position among foreign tourists to Israel in 2024 with a […]
Russia boosted exports of agricultural products 20% year-on-year to over $3 billion to Egypt in 2024, the Agriculture Ministry’s Agroexport center has said, citing preliminary expert estimates. The main export product was wheat, accounting for 84% of all deliveries. Sunflower oil at 13%, soybean oil at 2%, and dried lentils and chickpeas under 1% each […]
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A new grain terminal with a capacity of 1.5 million tonnes per year is to be built in Makhachkala Port (Dagestan) during 2025, according to Dzhambulat Salavov, the Dagestan Minister of Transport and Road Management. He was assessing the department’s tasks for 2025. In addition, major repairs, reconstruction of existing berths and construction of an […]
The United States President, Donald Trump, has stated on his social media account that he intends to place 100% tariffs on all imports into the United States from BRICS countries if they discontinue using the US dollar in their multilateral trade relations and revert to using their own currencies. In this article we examine the […]
A Russian delegation has been visiting the new regime in Syria following the fall of the pro-Russian Bashar al-Assad government lasts month. In apparently positive news for Moscow, Russian Deputy Foreign Minister Mikhail Bogdanov has reported that Moscow and Damascus intend to maintain their historically stable and mutually beneficial relationship. It was the first Russian […]
Trade turnover between Azerbaijan and Russia rose 10.1% year-on-year to nearly US$4.8 billion in 2024, Azerbaijan’s State Customs Committee (SCC) has stated. This places Russia third among Azerbaijan’s foreign trade partners after Italy and Turkey. The volume of Azerbaijan’s exports to Russia decreased 1.5% year-on-year to US$1.178 billion. Exports to Russia accounted for 4.4% of […]
Saudi Arabia’s Economy and Planning Minister, Faisal bin Fadhil Al-Ibrahim, has said that Riyadh has not made the final decision to join BRICS and is still assessing its possible membership in the group, saying “The kingdom is always focusing on fostering more global dialogue.” He made the comments at the World Economic Forum in Davos, […]
The Eurasian Economic Union (EAEU) member states have completed the procedures needed for the entry into effect of the free trade agreement with Iran, the Eurasian Economic Commission (EEC) has stated to Andrei Slepnev, the EEC’s Trade Minister. Slepnev himself stated that “Currently, the procedures necessary for the entry into force of the free trade […]
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