Russia News

India Stopped Buying Premium Russian Oil

India has not bought Russian premium grade ESPO oil for two months, and has also reduced shipments of another Russian grade Sokol, Kommersant reports. India is the largest buyer of offshore oil shipments from Russia. The current cuts are related to the fear of secondary sanctions, as well as differences in calculations.   According to…
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Two Scenarios of Russian Export Dynamics

The Central Bank of Russia has presented two primary scenarios for the future development of Russian exports, which are currently contracting. One scenario involves the revival of exports, while the other entails a shift towards the domestic market. Experts believe that a combination of these scenarios will likely be operative to varying extents. However, the…
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Sanctions for Domestic Use

Two years of intensified sanctions pressure on Russia have demonstrated their low effectiveness, according to Ivan Timofeev, the Director General of the Russian Council on International Affairs (RCIA). Despite the significant damage inflicted upon the Russian economy, the sanctions have failed to alter Russia's political course, serving instead as a means for Western politicians to…
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Russia’s NNE fell by almost a quarter in 2023

Russia's non-primary non-energy exports (NNE) decreased by 23% in 2023, reaching $146.3 billion, according to data from the Ministry of Industry and Trade. In the previous 2022, this figure was $190.4 billion, and a year earlier — a record $194.2 billion. It is worth noting that data on specific commodity items have not been published…
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Moscow Exchange in 2023: Results

The trading structure at the Moscow Exchange underwent significant changes in 2023. The main outcome of the year was the growth in trading in yuan, reaching a record 42%, displacing the US dollar from the top spot. Alongside this, there is a rising demand for other currencies from "friendly" countries; however, their volume is currently…
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What Awaits Russian Economy in 2024

In 2023, the Russian economy showed growth of 3.5% and almost 4% in industrial production. This year, however, it will not be possible to repeat these successes, as there are a number of favorable factors that contributed to growth. The main challenges to growth in 2024, among other things, will be the risks of high…
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Russia’s Gold Reserves Reached Record Levels

In November, the current volume of monetary gold in Russia's reserves exceeded the $150 billion mark for the first time. According to the regulator, the value of monetary gold amounted to $151.9 billion, which is 2.2% higher than in October and by $3.198 billion. in total.   The physical volume of gold decreased by about…
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Russian Companies Succeed at Adaptation

The majority of Russian companies have managed to adapt to sanctions by finding new suppliers and replacing raw materials, materials, services, and software, according to a study by the Russian Union of Industrialists and Entrepreneurs (RSPP). Mainly, equipment and components are now being procured from new foreign counterparts, and some companies have succeeded in establishing…
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Investments in Russian Startups Have Fallen Tenfold

In the first half of 2023, the volume of investments in startups fell by more than 10 times, Kommersant writes with reference to data from the Dsight platform. Experts explain this by the fact that in the current context, venture capital investments have ceased to be a priority, and the focus has shifted towards buying…
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Top-5 Russian Trading Partners in Africa

According to the Ministry of Economy, during the first eight months of 2023, the volume of trade between Russia and African countries increased by 43.5% compared to the same period last year, reaching $15.5 billion. These figures were published in a report presented to the RBK publication.     The Ministry of Economy's press service…
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