Source link A payment mechanism is expected to be ready by February 2024, a lobby representative has said The Italian business lobby in Russia is finalizing a mechanism that would allow local buyers to pay for Italian goods in rubles, the president of the Italian-Russian Chamber of Commerce has said. In an interview with RIA Novosti, […]
Source link Attacks on ships navigating the vital Red Sea route could reshape the balance of power in global commerce Russian Market is a project by a financial blogger, Swiss journalist and political commentator based in Zurich. Follow him on X @runews In the midst of an already turbulent global landscape, a seismic geopolitical crisis is unfolding, […]
Source link Trade between India and Russia is expected to reach $100 billion by the end of the decade, Kommersant reported on Thursday, citing analysts from the Russian-Asian Business Council (RABC). Russian exports to India are forecast to grow from $32.5 billion in 2022 to as much as $95 billion in 2030, while imports are […]
Source link Moscow and Beijing have switched to settlements in national currencies, according to the Russian PM Western currencies have almost been completely phased out in Russia-China trade, as nearly all payments between the countries are now carried out in rubles and yuan, according to Russian Prime Minister Mikhail Mishustin. The statement was made during […]
Source link Some 74% of men and 65% of women said they would opt to give up their passports in Facebook surveys A majority of Ukrainians would be willing to renounce their citizenship in order to avoid being drafted into the military, according to a poll by a lawmaker from President Vladimir Zelensky’s ruling party. […]
Source link The US will not go through with plans for a “foundational” trade agreement with the UK, Politico reported on Monday, citing sources close to the discussions who spoke on condition of anonymity. According to the news outlet, a preliminary version of the deal had been prepared by the United States Trade Representative’s (USTR) […]
Source link Russia is rerouting most of its exports from the EU to Asian countries, Finance Minister Anton Siluanov said at a meeting with his Chinese counterpart, Lan Foan, on Monday. In response to Western sanctions, Russia has been diversifying its foreign trade, including energy supplies. Moscow is now “at the stage of reorienting its […]
Source link Somalia has officially become the eighth member of the East African Community (EAC) after more than a decade of lobbying to be admitted into the regional trade bloc that operates a single market and allows free movement of goods and people among member states. The country’s leader, Hassan Sheikh Mohamud, signed the Treaty […]
Source link Afghanistan’s poppy supply on the global market has plummeted 95% since last year’s cultivation ban, data shows Opium poppy production in Afghanistan, once the world’s top supplier, has plummeted since the Taliban outlawed cultivation of the crop last year, a United Nations Office on Drugs and Crime (UNODC) report has shown. According to […]
Source link The share of Ukrainians willing to make territorial concessions to Russia in exchange for a peace deal has almost doubled since early summer, according to a new survey. However, a significant majority believe that Ukraine can beat Russia on the battlefield with more Western weapons. The pollcarried out by the Kiev International Institute […]
Source link The two countries have been ramping up economic cooperation at an unprecedented pace Russia supplied more oil and petroleum products to China in the first ten months of this year than during the whole of 2022, as Moscow ramps up energy cooperation with the Asian country, Deputy Prime Minister Alexander Novak revealed on […]
Source link The downturn is due to geopolitical tensions and export underperformance from developing nations, according to a report Global trade will contract by 5% in 2023 compared to last year, the United Nations Conference on Trade and Development (UNCTAD) reported this week, expressing a generally negative outlook for 2024. According to the UNCTAD’s estimates, […]
Source link Disruptions are forcing shippers to use longer and costlier routes, analysts say Reduced water levels along the Panama Canal are disrupting global trade, forcing shippers to sail longer routes and pay higher freight costs, Reuters reported on Monday. The man-made waterway in Central America, which provides a much cheaper route for ships to […]
Source link Bilateral partnership is expanding in a range of new areas, Aleksandr Rybas has said A complicated geopolitical environment and international sanctions on Russia have prompted the establishment of new supply and payment mechanisms, according to the head of the Russian Trade Representative Office in India, Aleksandr Rybas. In an interview with TASS on […]
Source link Christmas presents may not arrive on time this year due to drought in Panama and shipping attacks near the Suez canal Disruptions to the Panama and Suez canals, two of the world’s key trade waterways, are threatening global supply chains, Financial Times reported on Friday, citing ship owners and operators. The Panama canal, […]