Russia is making a strategic shift in its reserves towards holding fewer dollars and more assets in other currencies, especially the RMB and Euro.
Annual 2018 reports just released show that the Russian Central Bank reduced the dollar share of its international reserves to 24.4 percent.
Russia’s digital economy development national program is to be funded by over US$26 billion over the next five years to make its economy more competitive.
Trade between Russia and India has been steadily growing and the two nations aim to further boost trade and encourage investment.
Russia and Europe are undergoing a renaissance in relations, with trade between the two rising by 20 percent in 2018 – though still falling short of full potential.
Further anti-Russian trade sanctions by Washington seek to isolate Russian traders from US controlled payment systems from January 1.
Members of the Eurasian Economic Union (EAEU) may abandon border procedures and adopt a common currency in the future, following the path taken by the EU.
The 90 day truce in the US-China trade war and suspension of additional tariffs has played to Russia’s advantage – an unintended consequence for Washington.
Member states of the Eurasian Economic Union (EAEU) increased the share settlements in local currencies to 70 percent in the first half of 2018.
Russia and Norway have agreed to build an “Arctic Electric Road” between their two countries, in a development that both provides greater connectivity and is eco-friendly. The Arctic Electric Road Project is a joint undertaking between the Murmansk Regional Government and officials in Norway and is on track to build an electric car charging infrastructure[…..]