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    2022 Belarus-Russia Trade To Hit Record US$50 Billion

    Belarus-Russia trade is likely to hit a record high of $50 billion in 2022, according to the Belarusian Ambassador to Russia, Dmitry Krutoi, who made the statements at the “Belarus – Russia: Equal Union, Common History, Shared Future” forum held this week.

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    Gazprombank Launches Chinese RMB Yuan Remittance Services To Individuals & Businesses

    Gazprombank (GPB) has launched money remittances for individuals in Chinese yuan from their accounts to the accounts of individuals and legal entities in any other bank in Russia or abroad, the bank has stated. Gazprombank retail clients could previously make transfers in Russian rubles, U.S. dollars, and Euros. In the West, the bank is sanctioned[…..]

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    2022 European Union Trade With Russia: Increases & Decreases YTD

    The Russian State-Owned Statistics Agency RIA Novosti has claimed that many EU countries have increased their bilateral trade with Russia, citing data from the European Union’s own trade intelligence.

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    Russia-Commonwealth of Independent States Trade Up 6.8% In 9M 2022

    Energy, construction and agricultural trade all show sizeable increases   By Chris Devonshire-Ellis   The 96th meeting of the Economic Council of the Commonwealth of Independent States has taken part, with Russian Deputy Prime Minister Viktoria Abramchenko representing Russia. The Commonwealth of Independent States (CIS) includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and[…..]

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    Russia’s Purchasing Managers Index In Fastest Rise Since 2017

    Russian business recovery 6% higher than European Union Russian manufacturing firms recorded their fastest rate of growth last month in almost six years due to new export orders and increased demand from domestic customers, according to a business survey published on Thursday (December 1) by S&P Global.

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    2022 Russia-Brazil Bilateral Trade Reaching Record Highs

    Trade volumes between Brazil and Russia are on track to reach a record high of US$10 billion by the end of 2022, according to Rodrigo Baena Soares, Brazil’s Ambassador to Russia.

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    Russia’s Ozon Retailer Finds Huge Online Sales Market In China

    Market is booming for Russian retailers able to handle Chinese goods Ozon, one of Russia’s largest online retailers, has opened an office in Shenzhen, in South China near to Hong Kong, as the demand for Chinese products in Russia keeps growing.

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    EAEU Looks To Establish A Common Payment System With The BRICS

    The Eurasian Economic Union (EAEU) is examining the possibility of setting up a common payment system with BRICS nations. Such a move would establish an intra-trade payment system that would bypass the need for SWIFT. Intra-EAEU trade is on target to reach slightly under US$100 billion this year, while Intra-BRICS trade was valued at 1.6[…..]

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    India Permits Opening of “Vostro” Rupee-Ruble Bank Accounts To Assist Russia Trade

    India’s central bank has allowed HDFC Bank Ltd (HDBK.NS) and Canara Bank Ltd (CNBK.NS) to open a special “Vostro account” for trade in rupees with Russia. Vostro accounts are held by a bank on behalf of another, often foreign bank, and this forms a key part of correspondent banking.

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    Russia, Belarus Bilateral Trade Up 9% 2022 YTD

    Jury is out as concerns a lower than expected increase but mitigating circumstances remain According to Dmitry Volvach, Russia’s Deputy Economic Development Minister, Russia and Belarus’ bilateral trade turnover increased by 9% during the first nine months of 2022, reaching US$30.5 billion. Volvach added that during that period, the volume of Russian imports from Belarus[…..]

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