The Russian Ministry of Agriculture has stated that Russia has produced a record rice harvest this year, amounting to more than 1.2 million tons. This is 17% higher than for 2023. According to the Ministry, Russia now has 207,000 hectares of rice under production. Almost two-thirds of that is from Krasnodar, where the harvest amounted […]
A total of 22 Russian banks have now signed agreements with the Russian Central Bank and are configuring their systems to participate in national Digital Ruble project, which is scheduled for mass-roll out by July 1st. They join Sberbank, T-Bank, Tochka Bank and twelve others that are already in the program for conducting transactions with […]
The Russian Union of Travel Industry (RUTI) has said that up to 2.5 million foreigners visited Russia for tourist and business purposes in 2024, 95% more than in 2023. The RUTI stated that “The number of foreign tourist arrivals in Russia may reach 1.8 million, in addition to about 0.7 million business trips in 2024. […]
The Russian President, Vladimir Putin gave his annual public Q&A address yesterday, with him fielding questions from across Russia, including the general public and journalists. 2.2 million questions were received, ranging from the situation in Ukraine, which tended to dominate, to personal issues such as ‘What do you dream about?’ And what artworks he has […]
The practical difficulties of imposing sanctions upon Russia on an economy are adequately shown in Russia’s 2024 bilateral trade data with Japan, which has declined by 15.9% during 2024. However, a closer look at the data reveals that the trade damage inflicted has been on Japanese products – its exports to Russia were down 22.2%, […]
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Air Arabia plans to launch direct flights on the Sharjah, of the United Arab Emirates, to Sochi on Russia’s Black Sea Coast route starting from June 27, 2025, according to Sochi Airport. Flights will operate three times per week on Mondays, Wednesdays, and Fridays on narrow-body Airbus A320 aircraft, with travel time just under four […]
Russia’s State-Owned Direct Investment Fund (RDIF) has announced the launch of a strategic alliance within the BRICS to jointly develop Artificial Intelligence (AI), according to Kirill Dmitriev, the RDIF chief executive. RDIF’s government mandate is to make investments in high-growth sectors of the Russian economy, as well as co-invest alongside the world’s largest institutional investors, […]
The United States and European Union have green-lit a decision to pass interest earned by Russian securities frozen in the US and EU to Ukraine, to use in order to repay a US$20 billion loan. We examine the implications and the potential global fallout over this unprecedented financial development. The Total Amount Due The US […]
The Eurasian Economic Union (EAEU) has reached an agreement on a draft document regarding e-commerce in goods within the EAEU territory which sets unified requirements for the operations of EAEU marketplaces. The EAEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia and fits the geographic space between Eastern Europe and Western China. It has a population […]
Russia’s SIBUR, a major integrated petrochemicals company, is finalizing tests of experimental tires made with synthetic rubber instead of natural rubber in collaboration with its partners and plans to present the results in 2025. Daria Borisova, SIBUR’s Managing Director for Development and Innovation, said that preliminary results from bench, test site and durability tests confirm […]
Russia has announced an expansion of the list of countries whose nationals are eligible for its single-entry electronic visa (e-visa), including three African countries: Kenya, Eswatini, and Zimbabwe. The move is expected to improve travel between Russia and countries concerned, boosting tourism, business, and cultural exchanges. Russian Prime Minister Mikhail Mishustin signed an order on […]
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