China has held a Russian premiere at the Mariinsky Theatre in St.Petersburg of its opera “The Dawns Here Are Quiet”, adapted from a book by Boris Vasilyev.
Wealthy Russian nationals with money parked overseas are scrambling to find new homes for their wealth and business after a new round of sanctions get triggered in October.
Russian-controlled foreign offshore companies can now re-register in offshore financial centers established in the Kaliningrad Region and Primorsky Territory to minimize exposure to sanctions and other political risks.
The sanctions against Russia are creating new trade corridors; Egypt’s trade exchange with Russia increased by 37 percent during first half of 2018.
Russia, Iran, Azerbaijan, Kazakhstan, and Turkmenistan have signed the Convention on the Legal Status of the Caspian Sea.
From January 1, 2019, Russia’s standard VAT rate will be 20 percent, up from 18 percent. VAT exempt goods will not be affected by the hike.
Russia has sold off US$77 billion of its US Treasury Bonds, and in future will be investing in IMF securities and gold.
UK-Russia trade dropped significantly following sanctions imposed on Russia after its repossession of Crimea, but bilateral trade is showing signs of recovery even after the Novichok incident.
Talks of China taking over Central Asia from Russia ignore the current cash flow and familiarity aspects of regional infrastructure development.
The implications of the Trump-Putin summit are clear for Russia: there will be no expansion of relations with Washington, sanctions are likely to remain, and developing trade with Asia is a priority.