Trade

Russia’s Sberbank Made Record Annual Profits in 2023

Economy, Finance, Trade

Russia’s largest lender Sberbank made a record net profit of ₽1.5 trillion (US$16.3 billion) in 2023, as Russia’s financial sector recovers from western sanctions. Sberbank’s IFRS full-year results, published on February 28th 2024, showed a more than fivefold increase in profits on the previous year, primarily achieved through a high level of lending activity. It […]

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Russia Proposes US$1 Billion Asset Swaps with Western Investors

Finance, Trade

Russia’s finance ministry has set terms for a proposed swap of Russian and western investors’ frozen assets in each other’s jurisdictions, allowing each side to claw back value lost to sanctions. Moscow hopes the potential exchange, announced by the ministry on March 11, will unblock ₽100 billion (US$1.1 billion) in European securities, mostly owned by

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2024 Red Sea Shipping Problems See Russian Rail Transit Demand Increase 40% 

Logistics & Transport, Trade

The Financial Times has reported that demand to move goods from Asia to Europe by rail via Russia has soared since the start of the Red Sea crisis, according to logistics companies and rail operators, providing a boost to RZD, Russia’s state-owned rail monopoly. Germany’s DHL said requests to transport goods on the Russian rail

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Moscow Exchange Reports Record Transactional Activity by Private Investors in February

BRICS, Finance, Trade

Private investor activity on the Moscow Exchange (MOEX), Russia’s largest stock market, reached an all-time high in February 2024, according to the exchange. A total of 4.1 million individuals conducted transactions on the exchange last month. During this period, they invested 74.2 billion rubles (US$820 million), an 11% increase year-on-year. The vast majority of investments

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Russia Approves “Friendly States” List Of Bankers & Brokers Able To Trade In Forex  

BRICS, China, Finance, Trade

Russia has approved a list of states whose bankers and brokers can now take part in currency trading in Russia. This list of “friendly and neutral” countries allowed to trade on the country’s currency exchange market, was released in early February this year and is exclusive to countries who have not signed up to Western

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