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Russia – Senegal Bilateral Trade & ECOWAS Developments

Africa, BRICS, Trade

Russia’s Deputy Foreign Minister Mikhail Bogdanov has been holding talks with the Senegalese President, Bassirou Diomaye Faye in Dakar. The sides discussed joint projects in energy, mining and processing of minerals, the Russian Foreign Ministry has stated, adding “The issues of increasing trade and economic and investment partnership volumes, improving the contractual and legal framework, […]

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Russia and SCO flag

Russia, Shanghai Cooperation Organisation Trade Hits US$330 Billion

China, India, Shanghai Cooperation Organisation, Trade

Anton Alikhanov, the Russian Industry and Trade Minister, has stated that mutual trade between Russia and the members of the Shanghai Cooperation Organization (SCO) surged by 25% in 2023, reaching US$333 billion. The SCO completed their annual Heads of State meetings in Astana last week. This means that Russia’s trade with the SCO equates to

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Russia, Kyrgyzstan Looking To Increase Bilateral Trade By 70%

Eurasian Economic Union, Shanghai Cooperation Organisation, Trade

Akylbek Japarov, the Kyrgyzstan Prime Minister, has said that Kyrgyzstan and Russia intend to increase mutual trade by 70% to reach US$5 billion a year in the medium term. Japarov stated that “There is good potential for this. Last year, our trade was US$3 billion, and in four months of this year trade it has

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Russia, India Set Target To Boost Bilateral Trade To US$100 Billion

BRICS, Finance, India, Trade

The Russian President, Vladimir Putin and India Prime Minister Narendra Modi have agreed to boost their bilateral trade to US$100 billion by 2030. Putin has been meeting with Modi for bilateral talks in Moscow, during which they discussed a wide range of issues. The two sides agreed on a plan of strategic cooperation until 2030.

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China’s RMB Yuan Accounts For 99.6% Of All Forex Trade On The Moscow Stock Exchange

China, Finance, Trade

China’s RMB Yuan accounted for virtually the whole volume of exchange forex trading after the imposition of sanctions against the Moscow Exchange (MOEX), making up 99.6% of all transactions, the Central Bank of Russia has stated. Trading volume on the over-the-counter forex market reached ₽13 trillion (US$148 billion) in June. When sanctions were first imposed

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Russia, Uzbekistan Look To Triple Bilateral Trade By 2030

Eurasian Economic Union, Trade

Laziz Kudratov, Uzbekistan’s Investment, Industry and Trade Minister, has stated that Uzbekistan and Russia have every chance of increasing bilateral trade to US$30 billion by 2030, speaking at the Uzbek-Russia working group for increasing bilateral trade being held in Moscow. Kudratov pointed to the major expansion of the structure of goods and the increasing share

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Putin and Modi

How India’s Vostro Bank Account Scheme Can Assist With Russia’s Rupee Trade Settlements Problem

BRICS, Economy, Finance, India, Trade

Indian Prime Minister Narendra Modi has been in Moscow holding talks with Russian President Vladimir Putin, in discussions likely to have far-reaching, positive consequences for Russia-India bilateral trade as well as the BRICS group. There are however, technical problems to solve. A major stumbling block is that India buys far more from Russia than vice

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Russia’s Leading Low-Cost Retailer Redomiciles From Cyprus to Kazakhstan

Economy, Eurasian Economic Union, Foreign Investment, Investment

Cyprus loses a major Russian client to Kazakhstan’s fiscal gain as Western exits increase  The Russian chain of low cost retailers, Fix Price has redomiciled its corporate PLC entity from Cyprus to the Astana International Financial Centre in Kazakhstan. Fix Price operate over 6,500 retail stores worldwide, with 2023 revenues of ₽291.9 billion (US$3.3 billion)

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Russia’s Special Economic Zones Attracting New Foreign Investors

Economy, Finance, Foreign Investment, Infrastructure

The Russian Ministry of the Economy has been assessing the effectiveness of the 44 Special Economic Zones (SEZ) in the country, including their fiscal effectiveness. SEZs are attractive investments for foreign investors as they typically offer reduced corporate income tax rates – typically zero for the first three-five years and at a 50% discount for

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