News

Eastern Maritime Corridor Emerges As Russia-India-South Asia Red Sea Alternative

The Red Sea crisis has shifted attention for Russia, India, and South Asia to the potential of the Eastern Maritime Corridor (EMC) – a proposed trade route for shipping coking coal, crude oil, LNG, fertilizers, and goods containers. This new trade route could revolutionize Russian-Asian trade. India’s oil imports reached unprecedented levels in January 2024, […]

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New Russian Annexed Regions Return To Fiscal Productivity

Economy, Foreign Investment, Trade

The four regions annexed by Russia in September 2022 from Eastern Ukraine have seen a surge in taxable revenues, following their reorganisation and investments and incentives made into the territories by Moscow. Tax revenues in Donetsk, Lugansk, Kherson and Zaporozhye have continued to grow, with a total of 210 billion rubles (US$2.27 billion) raised in

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95% of Western Investors Still in Russia In 2024

Finance, Foreign Investment, Trade

Austrian Foreign Minister Alexander Schallenberg has said in a meeting with US Secretary of State Antony Blinken during a joint press conference in Vienna on March 15, that 95% of Western companies are still invested in Russia. This is despite Western government pressure since early 2021 and many high profile foreign businesses announcing their exit

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Russian Auto Market Sales Grew 80% In February 2024

Economy, Foreign Investment, Trade

The market for passenger cars and light commercial vehicles in Russia grew 80% in February 2024 and is forecast to continue growing in March, the Association of European Businesses (AEB) has stated in a press release. The AEB is the main representative body of foreign investors in Russia. Based on calculations by the AEB Committee

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Moscow Stock Exchange Expecting 20+ IPOS In 2024

Economy, Finance, Trade

The Moscow Stock Exchange (MOEX) has seen an increase in domestic Russian corporate interest for conducting IPOs and SPOs compared to 2023; with more than 20 transactions potentially taking place in 2024, according to Vladimir Krekoten, the Managing Director of the exchange. Krekoten was speaking at the ‘Financial Markets: New Guidelines in a Changing World’

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Putin Approves US$6.6 -Billion-Dollar High Speed Moscow-St. Petersburg Railway

Economy, Logistics & Transport, Trade

Russian President Putin has approved the construction of the delayed High-Speed Moscow-St.Petersburg railway. Discussions on a new link were prominent in 2019, but Covid issues put the project on hold. However, in February this year, a masterplan for the Moscow-St. Petersburg line was agreed. Construction is to start immediately. At present, one line runs

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EAEU Industrial Output Up 4.7% In January 2024

Economy, Eurasian Economic Union, Trade

Industrial output in the Eurasian Economic Union (EAEU) countries rose 4.7% year-on-year in January, with all EAEU countries demonstrating growth, the EAEU press service has said, stating “The EAEU had an industrial production volume of 104.7% in January 2024, on par with January 2023.” Armenia had industrial output growth of 21%, Belarus of 5.4%, Kazakhstan

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Russian Economy To Be World’s Fourth Largest By 2030

Economy, Finance, Trade

The Russian economy will become the fourth largest economy in the world before 2030, with sustainable growth at a rate of at least 2% per year and gradual acceleration to 3%. This will yield approximately 20% growth by 2030, Russian First Deputy Prime Minister Andrei Belousov said at a meeting of Russian President Vladimir Putin

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EAEU, Mongolia Complete Preparations For Temporary Free Trade Agreement

Economy, Eurasian Economic Union, Trade

The Eurasian Economic Union (EAEU) and Mongolia intend to complete the preparation of a temporary agreement on setting up a free trade zone by the end of 2024, the Eurasian Economic Commission (EEC) said following consultations with Mongolian representatives earlier this week. The EAEU includes Russia in addition to Armenia, Belarus, Kazakhstan, and Kyrgyzstan. It

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Russia To Develop Cinematic Film Production With Asian Partners

BRICS, Foreign Investment, Trade

Russia’s Minister of Culture, Olga Lyubimova has stated (March 13) that numerous Asian countries are interested in developing cinematography together with Russia and conducting joint film production, and that this will be fully supported by the government. Lyubimova said in an interview with the Rossiya-24 that “We have joint production, and have formalized the possibility

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